Whale Loans, WhaleSwap & The POD Token
This post is not about the in-depth tokenomics of WhaleSwap. It will be introducing the new POD token and talking about the future of Whale Loans and WhaleSwap. If you just want to know the about WhaleSwap and the new tokenomics, check out our blog post specifically on the tokenomics and our liquidity event.
The Future of Whale Loans
Whale Loans is an experiment on the Olympus tokenomics model, it was always intended to be just that with other products built on top.
Since launching earlier this year we have learned a lot about running a business in DeFi, from building products, to marketing and managing our wonderful community. We intend to use all that experience and our established community to build towards our future as a leading cross-chain protocol.
We always intended to keep building on Whale Loans but as with all things DeFi it has changed with time, the Olympus fork craze is over and it’s time to provide tangible value. With this said, we are officially suspending the protocol and revamping the entire ecosystem.
So what happens with your HUMP tokens? You will be rewarded more than ever! Read on to see how we are rewarding our community.
What does this mean for HUMP holders?
We have spent a lot of time considering how to move forward with the business. There’s a need for tokenomics that inspire new liquidity while also rewarding our existing community, so here’s the plan.
We will be creating a new token, POD. The details on the liquidity event will be coming in a separate post as mentioned above but I will talk about the stuff affecting existing users here.
The token will work similarly to CAKE, SUSHI and other DEX tokens you know and love by emitting a specific number of tokens in every block and then doing a good ‘ol buy and burn with exchange fees.
As is the norm, 20% of emissions are put aside to aid with paying the team, marketing, and bills/expansion. The rest is allocated to other sources like LP providers to bring in liquidity.
This is where HUMP holders win.
We are sharing 50% of our dev emissions for 3 months distributed based on your HUMP holdings!
This is a huge amount of emissions compared to the current market value and has wonderful utility behind it with real yields and over 10x more chains than HUMP. Need more convincing? Our marketing budget for the liquidity event is bigger than ever before!
The Snapshot
Since Whale Loans is being deprecated, we will be taking a snapshot of HUMP and sHUMP holders around 9am EST on Tuesday, June 7th, you don’t need to do anything. Your POD emissions will be weighted based on your holdings at the time, so make sure you stock up!
After this we will pause the rebase mechanism and prepare to launch the liquidity event.
In The Future
We’ll be adding more streams of revenue to the POD token as we launch more products such as lending. Our goal is to make POD the most profitable token in our users portfolios.
To stay up to date with updates and announcements feel free to follow us:
Website: whaleswap.finance
Twitter: twitter.com/whaleloans
Discord: discord.gg/whaleloans
