What Is Whale?
$Whale claims to be the first social token backed by the best NFT collection around. Stored within The Vault, this collection has been growing since 2019 and fundamentally underpins the value of $. The community since founding has been made up of notable people in the crypto art space. Company was launched on May 18, 2020 as an Ethereum ERC20 token with the aim to allow anyone and everyone to become a whale through.
Whale is a social currency that is backed by tangible and rare NFT assets, while embodying scarcity through definitive limited issuance. There will only ever be a maximum of 10 million ever created, with the launch value of each being underpinned by a basket of some of the rarest and most sought after Non-Fungible Tokens (NFTs) in the industry (“the $Vault”). NFT Assets in the $Vault include some of the rarest NFTs from Gods Unchained, Rare Digital Art (CryptoArt), Cryptovoxels, Sandbox, Avastars and CryptoMotors (CM), among others.
Whale Storage Key Points
|Source Code||Click Here To View Source Code|
|Explorers||Click Here To View Explorers|
|Twitter Page||Click Here To Visit Twitter Group|
|Whitepaper||Click Here To View|
|Official Project Website||Click Here To Visit Project Website|
The live price today is $10.99 USD with a 24-hour trading volume of $292,592 USD. WHALE is down 0.61% in the last 24 hours. The current CoinMarketCap ranking is #405, with a live market cap of $62,095,615 USD. It has a circulating supply of 5,652,357 coins and a max. supply of 10,000,000 WHALE coins.
Where Can Buy WHALE
$WHALE can be swapped on chain at:
Uniswap – https://app.uniswap.org/#/swap?outputCurrency=0x9355372396e3F6daF13359B7b607a3374cc638e0
$WHALE can also be exchanged at the following CEX:
What makes $WHALE stand out and be different or better than other ETH tokens?
The “competitive” environment for $Whale refers to Fiat, other Cryptocurrencies and other Social Currencies; For fiat, the inflationary effects of printing money (unlimited supply) and the lack of tangible assets to back valuation are the biggest challenges. There will only ever be 10 million and the value of is backed by all assets in The Vault which will continue to grow in value due to scarcity and organic growth.
Cryptocurrencies solve the scarcity issue with capped token issuance, however, their value is then drawn from their level of acceptance as a socially accepted currency as well as a speculative asset on their potential future use cases. BTC, ETH or other cryptocurrencies do not own any of the assets that are created on their network so answers the need for tangible assets to create a base level of value.
While They applaud the innovation of other Social Currencies, $takes the objectivity of base value one step further by using tangible assets to underpin the value of the currency. The assets in The Vault are rare and coveted collectibles that have a common recognition of market value through market price exploration.
The Whale Vault
As one of the primary dimensions of value for $WHALE, the Vault seeks to perform the role as a valuation floor to provide stable and even escalating fundamentals for $. In order to ensure the continued appreciation of the value of , they will execute on the following actions:
- Acquire and retain capital appreciating NFT assets.
- Sale of NFT assets only at the right prices.
- Generate rental income from rental of NFT assets.
- Creation of sales generating related projects.
- Reinvestment of all revenues to purchasing more NFT assets for the Vault.
The $WHALE Vault will be audited by Chief Partner, Nonfungible.com, on a monthly
basis accounting for:
- Balance of NFT assets in the Vault
- In-flow and out-flows of NFT assets in the $WHALE Vault
- Valuation of all Vault assets based on market conditions and analy
The governance of the $Whale Community and the Vault will be managed through
the DAO. Token holders of are able to stake their for Hold-2-Play roles that enable them to participate in a 2-step voting process that covers the decision making processes on community, budget and assets.
Proposals that can be submitted for voting and approval to the DAO could include:
- Changes to the monthly budget distribution allocation.
- Creation of Community events.
- Changes to existing Community events.
- Sale of NFT assets in the Vault.
- Purchase of NFT assets for the Vault.
Why is $WHALE not approaching this from a DAO mechanism?
They had considered launching in a DAO format rather than a social currency, however after careful thought, debate and assessment they decided to move ahead with launching this as currency rather than an equity. On the fundamental layer, they want people to not just hold , but be able to hold $with peace of mind and also be able to use it to transact and interact with other NFT collcetors, creators and enthusiasts.
Think about $WHALE as a social currency that seeks to underpin its base layer value through a return to the principles of the gold standard: A currency must be scarce and be backed by tangible and valuable assets. The secondary layer of value will be based on the acceptance, recognition and vibrancy that $achieves in the Crypto and NFT space.
Ultimately, they do believe that it is essential that the management of The Vault moves to a DAO based mechanism where decisions on what to buy, what to sell and what to rent are based on a collective decision making process of prominent enthusiasts. At the moment, this is not possible due to the limitations and earliness of DAO technology that do not permit the active management of assets (such as property rental) or the absolute security of assets due to the high value of these NFTs assets.
In the future they envision continuing to be operated as a Social Currency with a DAO component to manage assets in The Vault. You can be assured that once the technology is proven and ready, will be one of the first projects to migrate to a new DAO based governance system.