Development Background

In the context of volatile and uncertain cryptocurrency markets, WHALE regards ‘ecological sustainability’ as the core goal, and is committed to building a low-carbon, environmentally friendly, and efficient blockchain ecosystem, reducing energy consumption through technological innovation, encouraging green mining, and providing new directions for sustainable industry development.

The WHALE project is jointly built by a technology company in Singapore and investment, and the project technology team brings together top talents in the fields of blockchain, artificial intelligence, big data, etc., focusing on key technical breakthroughs such as consensus mechanisms, privacy protection, cross-chain communication, aiming to build a globally leading Web3.0 application and DeFi underlying blockchain system.

Technical architecture

The protocol adopts distributed ledger technology based on cryptography, consisting of multiple nodes, each of which stores a complete copy of the ledger. Once a transaction occurs on the blockchain, all nodes will jointly verify it, and only transactions that pass the verification will be recorded in the ledger. This decentralized feature endows blockchain with high security and transparency. However, the official website does not explicitly mention which underlying blockchain platform is used, nor does it mention the underlying technical details such as consensus algorithm and encryption algorithm.

One of the significant advantages of Project One is zero tax rate on transactions, which reduces user transaction costs, enhances token trading activity and attractiveness, helps to stand out in market competition, and attracts more users to participate in trading and project ecosystem construction.

The protocol is established on the BSC chain, adopting the PoS consensus mechanism. From the perspective of the project’s pursuit, WHALE aims to build a low-carbon, environmentally friendly, and efficient blockchain ecosystem, while providing users with a faster, more secure, and more convenient trading experience. The PoS mechanism has obvious advantages in energy consumption. Unlike PoW, it does not require a large amount of computing power to solve complex mathematical problems, thereby greatly reducing energy consumption, in line with the project’s environmental protection concept. In terms of transaction processing speed, the PoS mechanism can quickly verify transactions and generate new blocks, helping to meet the project’s demand for efficient transactions and enhance user experience.

Under the PoS mechanism, the right of nodes to validate transactions and create new blocks depends on the amount and duration of the tokens they hold, known as “stake”. Participants in the Whale project need to lock a certain amount of WHALE tokens in the network to qualify for validating transactions and creating blocks. Nodes with more tokens and longer lock-up periods have a higher probability of being selected to create blocks and also receive corresponding rewards, usually in the form of newly generated WHALE tokens. This method incentivizes users to hold tokens for the long term, thereby enhancing the stability of the network.

Token Economy

1. Basic Allocation

The total supply of WHALE tokens is 10 billion. The team has announced a clear distribution plan, as detailed below:

Image source:https://whalebscworld.cn/

Operation and project construction: 5% (i.e. 5 billion tokens), used to maintain the daily operation of the project, technical research and development, marketing promotion, etc., to ensure the smooth progress of the project.

Charity and Environmental Protection: accounting for 5% (500 million tokens), reflecting the project’s social responsibility, supporting related charitable and environmental protection causes, and enhancing the project’s social image.

Public Offering: 30%, (i.e. 3 billion coins), through public fundraising to attract global investors to participate in the project and inject funds into the project development.

Funds Pool: 15% (equivalent to 1.5 billion coins) serves as the project’s reserve fund, used to cope with emergencies, strategic investments, or other necessary expenses, enhancing the project’s risk resistance capacity.

DAPP mining: 15% share (i.e. 1.5 billion coins), incentivizing users to participate in DAPP mining activities, promoting early user growth and activity improvement of the project.

Comprehensive ecosystem construction: accounting for 30% (i.e. 3 billion coins), promoting the comprehensive development of the project ecosystem, covering aspects such as new application development, partner expansion, etc.

2. Application scenarios

The WHALE token has built multi-dimensional application scenarios around the project’s ecosystem, including:

(1) As a DAPP mining incentive. This mechanism can not only stimulate user participation, but also effectively promote the circulation and distribution of tokens in the early stage, and accumulate the initial user base for the project.

(2) LP ecological income and NFT generation. Users participating in LP mining can obtain generous returns, and LP has the function of generating limited edition NFT cards. WHALE token serves as the value carrier within the ecosystem, participating in the generation, transaction, and collection of NFTs, expanding the application boundaries and increasing user demand for tokens.

(3) Ecological construction and governance. In terms of community governance, the project emphasizes community co-governance, and tokens may give holders the right to participate in community decision-making, such as voting on important matters such as project development direction and use of funds, to enhance the sense of participation and responsibility of community members.

(4) Virtual world platform application. Although the specific application details have not yet been clarified, based on the overall layout of the project, the WHALE token is likely to act as an important economic medium in the virtual world, used to purchase virtual land, props, pay for services, etc., to provide players with a richer game experience, and at the same time promote the prosperity and development of the virtual world economic system.

Risk Warning

The Whale project carries certain risks in terms of technology, market, and regulation. Investors should exercise caution.

(1) Technical risks: The consensus mechanism may have vulnerabilities, such as the ‘no-stake problem’ in the PoS mechanism, which affects the security of the blockchain. Smart contract code is complex and prone to vulnerabilities, which hackers may exploit to steal funds. Blockchain technology is developing rapidly, and when project technology is upgraded, it may be incompatible with existing systems. If cross-chain communication technology cannot be compatible with mainstream blockchains, it will limit the application scenarios of the project.

(2) Market Risk: The cryptocurrency market is highly volatile and is influenced by various factors. The price of project tokens is unstable, which may result in losses for investors and users.

(3) Regulatory Risk: The global regulatory policies on blockchain and cryptocurrencies vary and are unstable. Tightening of regulatory policies in the project’s operating location or main market may hinder operations. The project involves multiple fields, with complex compliance requirements. Non-compliant operations may face legal actions and fines.

Development Roadmap

The project is currently in the DAPP mining stage, focusing on attracting users to participate in mining, accumulating early user groups, laying the foundation for the project’s subsequent development, and also achieving the initial circulation and distribution of tokens to some extent. Currently, the community has accumulated a part of fan base, with about 16,000 people in the Telegeram community and 26,000 followers on Twitter.

Image source:https://www.gate.io/pilot/bnb-smart-chain/whale-whale1

Subsequent to this, we will enter the ecological construction phase, focusing on the comprehensive ecological construction part in token distribution; the ultimate goal of the protocol is to build a comprehensive ecosystem phase, forming a complete and self-circulating blockchain ecosystem, covering various fields such as finance, gaming, social, etc., realizing the project vision, and providing users with a comprehensive range of Web3.0 services.

Image source:https://whalebscworld.cn/

According to the official project plan, it is dedicated to establishing two ecosystems: the LP ecosystem and the Third World virtual platform. Among them:

(1) The LP ecosystem provides users with the opportunity to mine for profits. Users can mine and earn substantial profits within a specified time. It also has the function of generating limited edition NFT cards, combining the hot areas of DeFi and NFT, expanding the project’s ecosystem application scenarios, and increasing user participation and asset diversity.

(2) After the project planning is completed in the mining stage, the “Third World” virtual world platform will be launched. The platform provides players with independent roles, and the appearance of the roles can be customized. By building an immersive virtual world, the platform attracts game enthusiasts and metaverse explorers, further enriches the project ecology, and constructs multi-dimensional user experience scenarios.

Summary

The WHALE protocol, relying on its unique vision of sustainable development, community governance model, and technological innovation concept, shows a certain potential for development in the blockchain field. Its token economic model and ecological layout plan are innovative, providing a clear path for project development. Currently, the protocol is still in the mining stage, and the community has accumulated a certain fan base. Next, the team will carry out ecological construction to provide users with comprehensive Web3.0 services.