White Whale Announces $2.9 Million Strategic Investment Round

We are pleased to announce that we have completed a $2.9 million private investment round through the Terra Ecosystem Development Fund. A total of 8.3% of supply was sold in the round at a valuation of $35 million. Participants in the private round are subject to a 12 month lock up period followed by a linear unlock for another 12 months. All insider WHALE tokens i.e. private investor, team, and advisor tokens have a minimum 12 month lock up and all team members have a 3 year vesting period with a 12 month lock.

We like to think of ourselves as a community based project, however we also recognize the role and importance of having strong strategic investors behind us. For this reason, we chose to host a small private investment round. We saw incredible demand for private allocation during the round and very quickly we were multiple X oversubscribed with offers. This enabled us to be very selective and only choose partners whom we felt will add strategic value to our platform. Despite the flood of interest, we remained disciplined and stayed within our pre-assigned allocation for private investment.

With the guidance of Terra Form Labs we participated in the Terra Ecosystem Development Fund, a $150 million dollar fund put together this summer made up of a whitelisted group of institutions who have committed to investing in the growth and development of the Terra Ecosystem. Several of our institutional investors came from the Eco-fund including SkyVision Capital, Node.Capital, 01 Node, Skynet, and more.

However there were also others who were not part of the Ecosystem fund but we brought them on as we felt they added a specific value to our protocol that was unique and necessary. For example, we brought on MGNR as the lead investor because of their expertise in quantitative and automated trading strategies in order to help us develop and optimize our arbitrage bots.

We also gave healthy allocations to several community based grassroots funds that are known to be engaged and active in the Terra Community such as GT Capital, 0x Ventures, Qi Capital, and Yunt Capital. Angels of note include Do Kwon and other pillars of Terra such as SmartStake Validator and other senior leaders at TFL.

All in all, we are very pleased with our cap table and the strategic partners who have come on board. We believe the expertise and networks of these partners will contribute greatly to the long term success of White Whale.

While there is 10% allocation assigned to private investment, 20% is assigned to public pre-sale and community IDO events, these include a Pylon Protocol launch, BOOTSWAP LBP pool, and a Star Terra event. Our goal is to distribute tokens to a wide base of loyal supporters from the beginning at fair and reasonable entry price levels. We look forward to the upcoming distribution events.