Restake DAO started a spotlight campaign to showcase its monetary power to different Communities. The first Community is going to be Kujira.

#ampKuji is going to be Whitelisted as a restakeable asset and will receive 100% Migaloo foundations voting power.

#ampKuji stakers will receive $WHALE staking rewards on top of the native Kujira staking yield. This will bring both Whale Communities closer together

What is Restake DAO?

Usually, in a delegated proof of stake system, 100% of security issuance goes to validators and their delegators. The Alliance module makes it possible to let the Community decide over a partial flow of this issuance via Restake DAO. This helps projects bootstrap incentives for network effects, liquidity flywheels and the like. Currently Restake DAO controls 7.5% of the Migaloo staking rewards with a plan to increase this number to 10% in the medium term.

The 7.5% incentive flow will be decided by $RSTK stakers in the Restake DAO. Groups like token projects and community DAOs will naturally want to direct these incentives to benefit their goals. For example, ASH DAO might use the incentives to boost the liquidity of their ASH token, while SAIL DAO might attract other projects through incentives directed by Restake DAO.

The competition to control these incentive flows will create demand for the $RSTK token, benefiting the Restake DAO. This is similar to how ve tokenomics work in liquidity wars. A gauge mechanism is managing the distribution in real time.

ReStake DAO is combining restaking and liquidity wars for the first time, establishing Migaloo as a leading innovator in restaking within the Cosmos ecosystem.

How do I participate?

You need to get your hands on some $RSTK. Most DAOs have already received their treasury allocation, and DAO stakers have received their airdrop. Furthermore, another airdrop has been distributed for T-Asset holders and Madscientists.

This means almost all RSTK is now in circulation, so there won’t be any token overhang!

Delegate to your project

Once you have some $RSTK staked, you gain the power to participate in the governance around adding and removing restake assets via proposal-based governance. Additionally, you can place your own whitelisted assets to receive inflation. ReStake DAO currently controls 7.5% of Migaloo’s emissions. Your voting power is proportional to your share of the total $RSTK supply. If you own 1% of all $RSTK, you can direct 1% of the controlled emissions. There is no delay and all emission adjustments are applied in real-time. Change your votes and see how the apr changes.

Links:

1. You can restake all whitelisted assets at app.migaloo.zone.
2. Go to Eris Protocol to engage in the gauged rewards mechanism
3. Buy $RSTK on Osmosis

Restake DAO is now fully operational! Stake your $RSTK, vote in the gauge system, and earn perpetual yield.

What is Restake DAO?

Restake DAO decentralizes Migaloo’s fiscal policy by putting control of the ReStake contract in the hands of $RSTK holders. It allows $RSTK stakers to distribute a fraction of Migaloo’s staking emissions to any asset the DAO whitelists. The voting power is directly proportional to the amount staked. This system creates positive competition between DAOs, protocols, teams, and wealthy individuals trying to benefit from Migaloo’s emissions.

Airdrop

The first airdrop phase distributes $RSTK to DAO treasuries. This phase is almost completed. The second phase will distribute $RSTK to DAO stakers and native $WHALE stakers. It will start on Thursday 18th of April and last precisely four weeks. The third phase will distribute $RSTK to T-Asset holders. It will start next week.

Summary

The Restake DAO now controls the ReStake contract, which controls 5% of Migaloo’s inflation. The DAO can add and remove assets via a 5-day proposal. $RSTK stakers can distribute the inflation between whitelisted assets by a gauge mechanism.

Important Links

• ReStaking Interface: https://app.migaloo.zone/
• ReStake DAO: https://daodao.zone/dao/migaloo1pxuqr7je9h7slchdsgz5ufc3kklrevyfnxmq0dkjru5k6e6mdm2sw23hfz/home
• Gauge System: https://next.erisprotocol.com/migaloo/restake-gauges
• Governance Voting Example: https://daodao.zone/dao/migaloo10zqfqhw44e6gvu97frjzcghunndskhu40uyztwu00y6dr9qxrz6qcjfrf7/proposals/A39
• $RSTK Staking Example: https://daodao.zone/dao/migaloo10zqfqhw44e6gvu97frjzcghunndskhu40uyztwu00y6dr9qxrz6qcjfrf7/proposals/A34
• Gauge Voting Example: https://daodao.zone/dao/migaloo10zqfqhw44e6gvu97frjzcghunndskhu40uyztwu00y6dr9qxrz6qcjfrf7/proposals/A40

Introduction

Restake DAO is coming to Migaloo chain and it will be the next evolutionary step forward for restaking in the Cosmos. Migaloo has already pioneered several restaking features through the Alliance Module. Through this mechanism, Migaloo chain has whitelisted for restaking: other L1 apex assets (LUNA, WBTC, OSMO), LP tokens (WHALE-USDC and WHALE-WBTC), and ecosystem tokens (mUSDC), among others.

With the passing of the Restake DAO proposal, the White Whale Community will have decided to redirect 15% of the total chain yield to the following pillars of the ecosystem to date:

ReStake DAO 5%

bluna. 2.5%

ampluna 2.5 %

wbtc. 2.5%

ampOsmo 1.25%

bOsmo 1.25%

Further redirections will be determined by the deals the White Whale Community is able to strike with potential ecosystem partners. However, the 5% to ReStake DAO is unique, because it gives the community the power to directly determine which assets will receive rewards.

Purpose of Restake DAO

The direction of the 5% incentive flows will be decided by $RSTK stakers of the Restake DAO. All interested parties, such as token projects, community DAOs, etc… will have a natural interest to direct liquidity incentives towards their purposes, for example the ASH DAO might want to provide perpetual incentives to their LP pairs in order to make their ASH token more liquid or SAIL DAO wants to attract external projects through incentives flows directed by Restake DAO etc.

The fight for control over incentive flows will induce natural demand for the $RSTK token and ensure the prosperity of the Restake DAO. It is the very same dynamic as ve tokenomics used for liquidity wars. In the first iteration of ReStake DAO, a proposer will need to pass a gov prop which assigns each asset’s share of the yield, however in future iterations of ReStake DAO, a guage mechanism will control the distribution of the yield in real time.

ReStake DAO will combine the elements of restaking and liquidity wars for the very first time. It will also further establish and codify Migaloo as one of the main pioneers of restaking in the Cosmos.

RSTK Tokenomics

Restake DAO uses a newly minted ReStake Token $RSTK with a 1M Total Supply. The token distribution looks as follows: 20% of the supply we remain with Migaloo Foundation, of which 10% is earmarked for DAO staking, 5% will be used for LP, and 5% will be held for future deals/grants. The remaining 80% of the supply will be airdropped to the community.

Airdrop Details

• 40% of the RSTK supply will be dropped to the various DAOs on Migaloo or partnered with Migaloo — A portion of the drop will be given directly to the DAO treasuries and a portion will be distributed to the DAO stakers. Further details/breakdown of the distribution are still tbd, and subject to change, however as of now the following DAOs may be included:

Total DAO airdrop: 40%

Tier 1 (21%)

• OPHIR 3% treasury 2% stakers
• RAC 3% treasury 2% stakers
• GUPPY 2% stakers 3% treasury
• SHARK 3% stakers
• ASH 2% treasury
• MEMEALOO 1% treasury

Tier 2 (19%)

• WIND 1% stakers 1% treasury
• SAIL 2% treasury 1% stakers
• LION DAO 2% stakers, 2% treasury
• ALLIANCE DAO 1% treasury, 1% stakers
• GALACTIC PUNKS 1% treasury 1% stakers
• SKELETON PUNKS 1% treasury 1% stakers
• GALACTIC MINING CLUB 1% stakers 1% treasury
• JUNO OPS DEPARTMENT 1% treasury
• CRYPTO DUNGEON 1% treasury

24% will go to holders of ampWHALEt and bWHALEt on Migaloo chain. These will be distributed 5% per week for a total of 6 weeks to encourage users to hold amp/bWHALEt and showcase their power.

The remaining 10% will be airdropped to native WHALE stakers, pro-rata, minimum 5k staked, maximum 1 mil staked. This will encourage native WHALE staking which is the core of any blockchain.

In this article we will take a dive into the current tokenomics of the WHALE token. A lot has happened since our last update on this topic, so we thought we would share the latest developments, as we value transparency with our community. We have great news, since early seed investors of Terra Classic days are about to be finished vesting.

Genesis File Distribution

Just as a quick refresh, below you can see the genesis distribution of $WHALE at the inception of Migaloo.

Team: 102.750.000 tokens, vested 2 years linearly

Genesis Vals: 35.165.200 $WHALE, vested 3 years linearly

Investors: 56.700.000 $WHALE, vested 1 year linearly

Foundation Multi Sig: 380.384.750 $WHALE, liquid

Community Pool: 25.000.000 $WHALE, liquid

Total = 600.000.000 $WHALE.

Below you can see the history of WHALE tokenomics, including current state of vesting schedules and an approximate trajectory until February 13th 2026, when the last vesting contract will be finished.

WHALE distribution and Vesting contracts

The Inception of Migaloo was February 13th, 2022. Something to note here is that Investors and Team allocation are not perfectly accurate since a small portion of investors only claimed their allocation after the genesis file.
As for the team allocation, 2 team members have been added since Genesis, who got an allocation that will finish at a later point in time than the regular team allocation. These are only very small positions in the grand scheme of things but should be mentioned before we get to the latest numbers.

Investors: These are early seed investors from pre Terra Classic collapse. White Whale has since not taken on any new VC deals!
Of the 56.700.000 tokens total allocation 91.14% (53.378.868 tokens) are already vested, with a remaining 8.86% (3.321.131 tokens) to be unlocked until February 13th, 2024.

Team: The genesis team allocation (102.750.000) has almost reached the half point mark with 46% (47.295.121 tokens) being already liquid and 54% (55.454.878 tokens) still to be vested a little more than 1 year (Feb 13th, 2025).

Genesis Validators: An initial set of validators, which helped us on the technical & infrastructure side to bootstrap the Migaloo blockchain and continue to help us maintain the SDK, set up relayers and other valuable services like data provision got an initial allocation of 35.165.200 tokens. These will vest linearly over 3 years until Feb 13th, 2026 with 30.7% (10.795.847 tokens) already being unlocked and 69.3% (24.369.352 tokens) to be vested over the next 2 years.

Foundation Multi Sig: The funds in the foundation Multi Sig funds were liquid from the beginning. The original plan of token allocations can be found in this article.

Notable changes from the original allocation plans are:

1. 160 Million $WHALE allocation for both airdrops (Terra Classic holders 100 Million & Cosmos Multi Chain Drop 60 Million). While many people claimed their airdrop there has also been a substantial amount that has been clawed back be the foundation delegation.
2. We originally planned to raise another round with a 100 Million $WHALE token but decided in the end against it, since raised funds are always future debt for loyal community holders.

These changes led to substantially higher foundation allocation then originally planned (25 Million $WHALE).

Ecosystem development

The unspent token were a blessing in disguise, not only for the increased flexibility of the team, which allowed to adapt better to difficult bear market circumstances but also in the long term for the Community.

While the original plan was to spend 50 million $WHALE token to bootstrap liquidity for the ecosystem we are now at much higher levels. The reason is mainly that there is not much demand for retail LPs in a bear market. The initial attempts to attract people with high incentives mostly failed and only led to increased sell pressure through mercenary farming. So we pivoted to a protocol owned liquidity (POL) strategy in which we were able to structure deals with key ecosystem partners and projects that wanted to list on White Whale DEX. This was mainly done via OTC deals with the according teams, so that there was enough liquidity for regular swappers to trade in and out of pools. This approach has two main advantages:

1. Sustainable Liquidity

Once POL is deployed it is very unlikely to get pulled out again since projects want to have an easy accessible way to buy/sell their token.

2. Decreased Sell Pressure

Since the likelihood of these tokens moving again decreased a lot, these tokens will (hopefully) never hit the market and alleviate the need to overpay for liquidity. This results in a twofold decrease in sell pressure.

Approx. 100 Million WHALE have been deployed so far in POL. By far the biggest position of that has gone into the LST pools ampWHALE & bWHALE to enable the full potential of our Ecosystem Partners Eris Protocol and Backbone Labs.
Another notable position is the 20 million WHALE foundation delegation program. Loyal and high value validators will be rewarded through this initiative. The rest has been spent on small grants that are not subject to onchain voting, salaries & operating expenses.

The remaining balance on the Foundation Wallet is roughly 93.5 Million WHALE. These are mainly reserved to continue the strategy of POL deals and other efforts to further the growth of the Migaloo and White Whale ecosystem.

Lastly, since we did not take on new investors we started to burn part of the reserved investor allocation to benefit the whole WHALE community. For this reason the Total supply of WHALE has actually decreased since genesis from 600 Million WHALE to 592.7 Million at the time of writing.

Community Pool

The funds in the Community Pool are dedicated to bigger grants that have to be decided by the White Whale Community. The Community pool started with a balance of 25 Million WHALE. Through various grants with key strategic ecosystem partners, like Backbone Labs, Eris Protocol, Racoon, Ginkou etc. the community pool got depleted after a couple of months but got topped up through the foundation wallet. The Community Pool has roughly 31 Million WHALE token at the time of writing.

Conclusion

First and foremost, investors allocations will be fully vested next month!.
Team and Validators still have vesting periods with 1 & 2 years respectively.

The vast majority of the Foundation Multisig funds will probably locked away forever in POL.

There are and will be active vesting schedules for grants that are not mentioned in this article. However most entities that receive a grant have a long term vision for WHALE and the Migaloo ecosystem and are therefore less likely to sell than early investors, resulting in less sell pressure.

With Alliance staking you can earn $WHALE rewards & $LUNA rewards at the same time! This article will give you a step by step guide how to Alliance stake and get more out of your staking rewards!

You need to complete five simple steps:

1. Open a Cosmos compatible Wallet
2. Get $WHALE
3. Liquid Stake Whale
4. Send LST Whale to Terra
5. Stake LST WHALE to Alliance Hub

Each step will give you several options depending on where you are in the onboarding process.

1. Open a Cosmos compatible Wallet

You have three options here: Terra Station, Leap Wallet & Keplr.

We recommend Terra Station for this specific tutorial, because the last step can only be completed via station.

2. Get $WHALE

If you don’t have any crypto or want to buy $WHALE with fresh money then Kado is by far the easiest and most convenient way.

You can buy $WHALE with your debit or credit card or directly from your bank account. Just go to https://app.kado.money/ and get started!

You need to enter your $WHALE wallet address from the wallet that you created in step 1 (see photo below).

MEXC

Another option is to buy $WHALE with $USDT over the MEXC centralized exchange. This option is not as convenient but saves you fees. In case you don’t have an account, you need to create one first.

Go to: https://www.mexc.com/exchange/WHALE_USDT?_from=search

CEX→ Osmosis

The third option is for people that already have an existing account with another centralized exchange than MEXC or already have Cosmos assets.

Go to your preferred trading platform and buy the $ATOM token (see photo below).

Withdraw the $ATOM token to your wallet of choice and link this wallet to Osmosis. On Osmosis you can swap $ATOM for $WHALE (see photo below).

Withdraw the $WHALE to Migaloo, its native blockchain. You can do this via TFM (see photo below).

Buying $WHALE on a DEX

If you already have funds in the Cosmos ecosystem on any Cosmos compatible wallet, you can go to one of these 3 options:

l. The White Whale DEX
ll. Osmosis

lll. TFM

and swap for $WHALE.

3. Liquid stake WHALE

You have 2 options to liquid stake your $WHALE.

Option number one is Eris Protocol. See this video guide about how to stake with Eris.

Option number two is Backbone Labs. See this video guide about how to stake with Backbone.

4. Send LST to Terra

The newly acquired amp/bone WHALE have to be sent now from Migaloo to Terra.

You can either do this directly within the Terra Station Wallet or use TFM.

Here is a video tutorial on how to send amp/bWHALE to Terra within the station wallet.

5. Stake LST to the Terra Alliance Hub

Right now you are just able to stake your amp/bWHALE via Station Wallet. You can find the video tutorial for that here.

Open a Cosmos compatible Wallet.

You have three options here: Terra Station, Leap Wallet & Keplr.

We recommend Keplr for this specific tutorial, because all the example videos are filmed with this wallet.

2. Get $LUNC on chain

There are 2 ways to go about this.

I. Transfer LUNC from your preferred centralized exchange (Binance, Kucoin etc.) to your wallet personal wallet.

For this, you have to go to your funding account and click on “withdraw” (see photo below).

Next you choose “LUNC” as the coin to withdraw and copy + paste your wallet address in “Wallet Address” (see photo below).

II. Buy $LUNC on Osmosis and transfer it to Terra Classic.

3. Get $WHALE

If you don’t have any crypto or want to buy $WHALE with fresh money then Kado is by far the easiest and most convenient way.

You can buy WHALE with your debit or credit card or directly from your bank account. Just go to https://app.kado.money/ and get started!

You need to enter your $WHALE wallet address from the wallet that you created in step 1 (see photo below).

MEXC

Another option is to buy $WHALE with $USDT over the MEXC centralized exchange. This option is not as convenient but saves you fees. In case you don’t have an account, you need to create one first.

Go to: https://www.mexc.com/exchange/WHALE_USDT?_from=search

CEX→ Osmosis

The third option is for people that already have an existing account with another centralized exchange than MEXC or already have Cosmos assets.

Go to your preferred trading platform and buy the $ATOM token (see photo below).

Withdraw the $ATOM token to your wallet of choice and link this wallet to Osmosis. On Osmosis you can swap $ATOM for $WHALE (see photo below).

Withdraw the $WHALE to Migaloo, its native blockchain. You can do this via TFM (see photo below).

Buying $WHALE on a DEX

If you already have funds in the Cosmos ecosystem on any Cosmos compatible wallet, you can go to one of these 3 options:

I. The White Whale DEX
II. Osmosis
III. TFM

and swap for $WHALE.

4. Send $WHALE to Terra Classic

Watch this Youtube tutorial on how to send your $WHALE to Terra Classic.

5. Provide Liquidity ($WHALE + $LUNC ) into the pool

1. Navigate to the White Whale App and choose “Terra Classic”.

Next, select “Pools” under the “Trades” section.

Click on the “manage” button right next to your desired pool.

Click “deposit” and choose your locking period. The longer you lock the higher your rewards will be. You have to lock at least 1 day to receive incentives.

Confirm the transaction with your wallet and you are done!

- Sen Com

Overview

Blockchain communities seek strategies to escalate their growth in an increasingly multi-chain world while ensuring sustainability and resilience. Inspired by the success of the RIDE Program, a new initiative called the White Whale SAIL Program is here to bridge the gap for blockchain ecosystems. The essence of the SAIL Program is to provide ecosystems with access to essential applications, communities, and liquidity to jumpstart their hyper-growth.

The RIDE Program: A Quick Recap

To understand the SAIL Program better, let’s glance at the White Whale RIDE Program. The White Whale team introduced the RIDE Program to enable the ambitious scaling of protocols by unlocking their full potential through cross-chain capabilities. RIDE Program participants can launch in new markets, tap into liquidity, connect with extensive communities, enjoy vertical integrations, and leverage knowledge from a veteran team. RIDE stands as a beacon for projects that wish to operate across multiple chains within the Interchain. We are proud to share that with Eris Protocol, Backbone Labs, and Racoon, the RIDE program continues attracting top talent from all corners of the space.

Existing Challenges

New blockchain ecosystems often face several challenges, including creating a solid community, ensuring liquidity, and offering essential DeFi and NFT applications. Building and maintaining all these elements in-house can be resource-intensive and hinder competitive edge as the landscape evolves swiftly. Furthermore, attracting or contracting external teams to build these applications takes time and does not guarantee timely delivery or success. The SAIL Program, built on the foundation of the White Whale RIDE Program, offers blockchain communities a robust support system.

Why Choose the SAIL Program?

The SAIL Program offers a windfall of opportunities to unlock the full potential of blockchain ecosystems. Here’s how the SAIL Program propels your blockchain to the next level:

1. Access the RIDE Group: Gain priority access to RIDE participants deploying their products on your chain.
2. White Whale: Its Migaloo blockchain is permissionless and the first to utilize alliances for cross-chain staking. Already live on five mainnets — Injective, Terra, Juno, Comdex, and Chihuahua, the White Whale Protocol includes a DEX, flash loans, and arbitrage/liquidation systems.
3. Backbone Labs: Owns the leading NFT marketplace on Terra and the number one Skeleton Punks collection. It also has a P2P trading platform for NFTs and a Liquid-staking protocol live on four chains.
4. Eris Protocol: Offers liquid staking on seven chains and supports various DeFi automation strategies.
5. Raccoon: Has the leading NFT marketplace on Chihuahua and games and gambling apps on three chains.
6. Swift Deployments: Forget empty promises and the risk of failed or delayed deployments. The RIDE group can deploy its entire product suite within weeks, giving your blockchain a competitive advantage by rapidly expanding its capabilities.
7. Community Expansion: Attract a vast and diverse community of like-minded users, investors, innovators, and projects from all corners of the blockchain space.
8. Liquidity and Activity: Facilitate deeper on-chain liquidity and heightened activity within your blockchain ecosystem by offering attractive applications.
9. Streamlined Token Listing: Elevate your token’s visibility and accessibility by capitalizing on the opportunity to list it on any of White Whale’s satellite markets and potentially on Migaloo as an Alliance asset.
10. Cross-Chain support: The RIDE Group’s commitment continues beyond any single blockchain. We will utilize our entire cross-chain application and professional network to bring utility and success to your ecosystem.

How to Join the SAIL Program?

Joining the SAIL Program is a commitment to integrating the strengths of the RIDE Group within your blockchain ecosystem. Understanding the uniqueness of each blockchain, SAIL emphasizes the importance of custom-tailored agreements. Steps to embark on this journey could include:

• Grant: Facilitate the RIDE group’s development by providing a grant, creating financial alignment, and ensuring ongoing support for the ecosystem’s success.
• Community-Owned Liquidity: Contribute community-owned liquidity for liquid staking tokens of Backbone Labs and Eris Protocol on the White Whale DEX, kickstarting the newly built economy.
• Liquidity Incentives: Provide incentives on the White Whale DEX, drawing liquidity to strategic on-chain pools.
• Joint Marketing Efforts: Engage in collaborative marketing endeavors to magnify visibility and outreach.
• RIDE Group Token Utility: Fortify the RIDE Group in your ecosystem by providing token utility, such as listing the WHALE token on your blockchain’s native lending market.

Sail Toward Success with SAIL

Chart a course for unbridled growth with SAIL. Tap into a reservoir of applications, community, and expertise today to steer your blockchain project into uncharted waters of success. To learn more or participate, contact us through your preferred channel and take the first step in crafting an innovative and vibrant ecosystem.

We are very proud to announce that our incentive contracts are finally live on Terra, Juno & Chihuahua! This article aims to explain everything relevant regarding the contracts and how to best make use of them, by LPing into our pools and/or creating your incentive flows.

Customizability

Our contracts allow for up to 5 reward flows. Each of these flows can have a different reward token. In the picture below, you can see the bLUNA-LUNA & ampLUNA — LUNA pool being incentivized with WHALE token.

Anybody can open up a reward flow for 1000 WHALE. The tokens must be in your wallet, otherwise, you will get an error. Just go to “create”, choose the duration of the according token and amount you want to incentivize the pool with.

Locking LP tokens & Claiming Rewards

To get rewards you have to lock your LP tokens. You can choose an unlocking period from one day up to 1 year. The longer you lock, the higher your rewards multiplier will be.

When you lock your LP tokens you will start getting rewards in the following epoch. Epochs start every day at 3 PM UTC. Note that if you lock your LP tokens your unlocking period only starts when you click the “unlock” button! During your unlock period you will not earn ANY rewards.

Another important disclaimer: Once the Flow creator closes a flow, all unclaimed rewards will be clawed back. It is therefore of utmost importance for users to know that flows can be closed at any time by their creators and therefore it is always advisable to claim your rewards as often as possible, since already claimed rewards can not clawed back anymore.

Click on “Incentivize” to see all flows that are currently active for that pool and when they are going to end.

Intro

One of White Whale’s main product features went live last week. The Bonding function allows Liquid staked WHALE tokens to be bonded to a White Whale satellite market and earn the rewards of this satellite market. This article was inspired by Discord questions of community members and aims to explain the bonding function in depth.

What is bonding?

In short, bonding is a product feature of the White Whale App. We chose this name on purpose to clearly distinguish it from simple staking to the Migaloo Chain. Bonding can only be done with Liquid staked Whale tokens such as ampWHALE & boneWHALE.

What is the purpose of bonding?

1. Local Governance of White Whale Satellite Market.
   As White Whale scales with the interchain, it will become increasingly difficult to make decisions about every single pool listing, fee structure etc. of all the different satellite markets. Therefore, community members of a particular ecosystem can bond to their favorite satellite market and make most informed governance decisions.
2. Earning protocol Revenue generated by the Satellite Market
   Bonding to a White Whale satellite market will allow you to earn part of its generated revenue. This will come on top of the staking rewards that your Liquid staked Whale accrues automatically.
3. Directing interchain Liquidity
   The future version of the White Whale dApp will allow bonders to direct interchain liquidity via a gauge mechanism.

In short, bonding will unlock the utility of the White Whale dApp. This has to be separated from plain staking, paying gas costs etc. because these are utilities for the Migaloo Chain.

Why should I bond and where do the rewards come from?

You should bond to unlock the full earning potential of your $WHALE. As described above, your liquid staked WHALE will earn staking rewards from the Migaloo Blockchain. By bonding your Liquid Staked WHALE to a satellite market you will earn additional rewards generated by the White Whale dApp. These rewards come from:

1. DEX Revenue
   The White Whale DEX charges a 0,3% swap fee (industry standard). Liquidity providers will earn 0,2%, while the protocol earns 0,1%.

2. Flash Loan Revenue
When taking a flash loan, users have to pay 0,15%.

3. Bribes
Once Bonders will be able to direct interchain Liquidity, protocols might decide to bribe Whale bonders in order to get more Liquidity to their chain.

The latest APR-estimate is shown in the app. As the revenue components listed above vary so will the APR. The actual rewards allocated to you also depend on your individual multiplier points (see below).

Do I need to claim rewards or are they auto compounding?

Rewards are allocated daily at 3PM UTC.You do need to claim your rewards manually. If you haven’t claimed for 21 days the rewards originally allocated to you will be clawed back and redistributed in the next rewards epoch to all bonders. This will eliminate dead capital and incentivise activity on the White Whale dApp.

What are the time periods for bonding/unbonding/withdrawing?

You can bond as much l(iquid)s(taked)-WHALE as you want to with no restrictions. As long as you do not manually unbond your tokens theywill remain bonded and earn rewards. Unbonding takes 14 days. Note, that you will not earn rewards during the unbonding period. After the 14 days unbonding period you can withdraw your lsWhale immediately.

What are multiplier points?

As a measure to incentivize bonders to keep their tokens on the current satellite markets (and thereby stabilize governance), the size of the rewards allocated to an individual bonder depends on his/her multiplier points. These points are accrued automatically (no need to claim) and basically reflect the duration of the token bonding (on the specific satellite). Think of the GMX model. The longer you stake, the more your rewards weight will increase. If someone has been bonding 100 lsWHALE for already half a year they will earn more rewards vs. someone who just started to stake 100 lsWHALE. After a year of bonding you will earn even more than someone who just began to stake the same amount, and so on. Note that your real reward amount will always depend on your own weight vs. the total weight of all other bonders.

If you unstake your lsWHALE, your multiplier points will be burned accordingly. If you add to your position, the newly added lsWHALE will collect multiplier points from the block in which you staked onwards.

What tokens will be distributed as bonding rewards?

In its first iteration, the protocol will swap all the accrued rewards to WHALE and distribute them to bonders. In the future iterations, governance can decide if certain rewards should be paid out in its native form, for example WHALE + ATOM or WHALE + ATOM + INJ etc.

Where can I bond, which satellite markets are available?

You can bond your Liquid staked Whale to any of our available satellite markets in the Dashboard tab of the White Whale dApp. For new satellite markets the bonding feature might not be available immediately, bear with us as we roll out this feature as soon as possible.

We also have a step by step Youtube Tutorial for our bonding feature.

What are the risks of bonding?

The White Whale Team does everything in its power to minimize the risk of users interacting with its application by

1. Rigorous internal testing and reviewing of new product launches.
2. Review of external testers.
3. Review of external auditors.

Nevertheless, there always remain risks with pioneering technologies. The main risks are:

1. Smart Contract for the liquid staking token of WHALE
2. Smart Contract Risk of the White Whale dApp
3. Failure of the Migaloo Blockchain
4. Exploit of the White Whale Protocol

Overview

This document serves as a follow-up to our previous discussions with White Whale regarding a partnership between the two teams. We decided to use a formal approach to make sure everything is clear. Our proposition is inspired from your Medium article about the White Whale RIDE program. In the following paragraphs, we just present what is Racoon Supply in case not everyone was aware of the project then we present what how we would contribute to the RIDE partnership/program.

Racoon Supply

Racoon Supply is an organization operated by 2 developers and heavily supported by a large community within the Cosmos Ecosystem. Selected members of the community also help Racoon Supply for different tasks when help is needed.

Below are the projects on which Racoon Supply worked during the past year:

• $SCRT Racoon NFTs: design of the deep learning model, tokenomics and everything related to these NFTs. For more information you can refer to Stashh and Racoon Supply’s website.
• $RAC token: The token is entirely in circulation and it was airdropped to the eligible wallets who claimed their due portion. The total supply is 923,783 and it was claimed by more than 21,000 unique wallets. This token is managed by a DAO . If you want more info about the token itself, you can refer to the following link.
• Racoon.Bet: Racoon.Bet (link) is a gaming and gambling platform (5 different games) operating on Chihuahua Chain and Juno Network. The next release will be on Migaloo which will use our new smart-contracts that will leverage liquid staked assets and White Whale DEXes. Over the past 10 months, there we had more than 2800 unique players that waged almost 3M$ USD on the platform. The platform accounted for more than 11% of all the execute transactions during August 2022 on Juno Network.
• Empawrium: This is the first project for which Racoon Supply was funded. The team received 650M $HUAHUA to build a NFT marketplace on Chihuahua Chain. The beta version of Empawrium will be released on May 6th, 2023.
• Side projects: Racoon Supply regularly helps different projects within the Cosmos ecosystem for different purposes like lotteries, smart-contract developments and airdrops. The team also built an Open Edition Minter for Stargaze.

From the above, you can understand that Racoon Supply is a versatile team and they are excited to develop new things on Migaloo.

Partnership proposition

According to White Whale’s Medium article about the RIDE program, a project should consider the following elements to be part of the RIDE partnership:

• Airdropping to WHALE stakers on Migaloo, directly rewarding loyal supporters.
• Allocating percentages of their revenue to buyback WHALE tokens, either burning them or distributing them to WHALE stakers or liquid staked WHALE bonders, further enhancing the token’s value.
• Bootstrapping liquidity through (perpetual) incentives or protocol-owned-liquidity, creating a sustainable liquidity model.
• Designating Migaloo as their central hub, i.e., the home of their Token and Decentralized Autonomous Organization, reinforcing the importance of Migaloo as a vital component in the Cosmos ecosystem.

Given all the $RAC tokens from Racoon Supply are already in circulation, it is not possible to make an airdrop to $WHALE stakers. Although, the other points are achievable from Racoon Supply and Racoon.Bet’s perspective. Below is our proposal which was designed to be in-line with the above recommendations:

• 4.5% of all Racoon.Bet’s revenues will be used to buyback WHALE tokens, either burning them or distributing them to WHALE stakers or liquid staked WHALE bonders, further enhancing the token’s value.
• 2.5% of all Racoon. Bet’s revenues will be used to deepen $RAC token’s liquidity on White Whale DEXes on every chain where every Racoon.Bet operates.
• 1% of all Racoon.Bet’s revenues will be used as external reward for these LP on White Whale DEXes.
• Racoon.Bet will designate Migaloo as their main gaming and gambling hub, i.e., Racoon. Bet will release their new games on Migaloo first and they will also release exclusive games.
• Racoon.Bet reserves will use liquid staked assets from projects that operates on Migaloo.
• Racoon.Bet will let the users play in almost any denominations which will require the reserve to leverage White Whale DEXes to make swaps when players bet in denominations that are different than the reserve is based on. This would generate good revenues for the DEXes.

As Racoon.Bet generates many transactions on a chain and has the ability to attract new users and liquidity to Migaloo, we believe this partnership will be a success.

Conclusion

We are confident that our proposition is in-line with what is required to be part of the RIDE program. Finally, we are open to discuss further regarding what is presented in this document in order to provide more details and/or change to any elements.