Frequently Asked Questions
Here is a list of frequently asked questions:
How do I use the Black Whale Market Maker as a Service (MMaS)?
You may head to https://blackwhale.money website, choose the available vault from the drop-down menu, then enter in the desire amount in the Deposit section.
Black Whale deposit works similar to depositing into any liquidation pool, users are to deposit 50:50 ratio of the current vault balance.
When you enter the amount of 1 of the assets, the amount of the other asset in this pair will be automatically updated.
Will my funds be locked up after depositing into your vaults? How do I withdraw my funds?
There is NO lock up period for your funds, you may withdraw or deposit anytime.
To withdraw, head over the Withdraw section and enter in the desire amount. You must first own the minted token obtain from depositing.
How does Black Whale charge its service fee?
Black Whale charges annualized 4% management fee, out of which half will be redistributed to all KUJI stakers. The 4% management fee is charged regardless of whether the service is profitable or not.
The management fee is calculated accordingly whenever someone deposit or withdraw the funds.
What are the safety checks built within Black Whale smart contract?
Here are some of the checks built in Black Whale smart contract:
- Black Whale smart contract owner or bots will not be able to withdraw the deposited fund. Only the depositors will be able to withdraw the funds.
- Only authorized bots (Kujira wallet) are allowed to interact with Black Whale smart contract to submit, retract, or withdraw Fin order.
- The Black Whale smart contract prevents authorized bots to place Buy order above Fin mid-price, or place Sell order below Fin mid-price.
- The Black Whale smart contract allows the bots to place maximum 5% of the vault denom balance per order. Nevertheless, Black Whale bots will leverage its sophisticated algorithm to determine the suitable order size and order price.
Is Black Whale smart contract audited?
We engaged the respected SCV to audit Black Whale smart contract. You may read its report here.
Are profits guaranteed by using Black Whale service?
No. Crypto trading carries substantial risk and the possibility of both significant profits and losses. All trading strategies are used at user discretion and user own risk. Black Whale will not be liable to you for any loss that might arise from use of Black Whale services.
Black Whale earns its income from the collected management fee. It is in our interest to provide a profitable service so that you may continuing using Black Whale service.
How do I get notification on the Black Whale trades?
You may join Black Whale’s telegram group to receive real time updates and connect with us. https://t.me/blackwhalekujira
