We will provide a complete guide to Whales Market, discussing its functionalities and how it can be used for airdrop farming activities. I often receive inquiries about the value of certain tokens or points on the platform, so this guide aims to address those questions in detail. Fortunately, I have already created a comprehensive written guide that covers all aspects of the platform, which I will be summarizing in this article.
What is Whales Market?
Whales Market is a decentralized platform that facilitates pre-market transactions and over-the-counter trades. It is compatible with various blockchains, including Solana and Ethereum. The platform enables users to buy and sell tokens before their official release or even trade points before they are converted into tokens. For instance, I previously demonstrated how to sell Jupiter airdrop tokens early. This functionality is also applicable to other tokens like Magic Heaven Diamonds and Grass points, which are currently popular topics of discussion.
Before delving into the buying and selling process, it is important to understand the user interface (UI) and navigation options available on the platform. To begin, you will need to connect your wallet, specifically Phantom or Ethereum-based wallets like MetaMask. Once connected, you can explore various sections, such as the pre-market, over-the-counter market, Points Market, and additional tabs for different tokens. Notably, the “Buy” section displays available tokens for purchase, while the “Sell” section provides insights into filled and closed trades.
Understanding the Points Market
In terms of trading activities, the Points Market is where a significant amount of time is typically spent. Unlike the pre-market, which deals with tokens in their finalized form, the Points Market focuses on trading points that have not yet been converted into tokens. For example, Grass points are currently featured on the platform. However, it is crucial to note that points are not the same as tokens, and speculation often surrounds the transformation of points into tokens. Although many instances indicate that points eventually become tokens, such confirmations are yet to be officially announced by the Whales Market team.
To clarify this further, let’s consider an example. Suppose you have 10,000 points in the Grass app, but it is crucial to remember that this does not equate to receiving 10,000 Grass tokens. The actual conversion rate has not been confirmed by the Whales Market team. Therefore, if you decide to list your points for sale, you are essentially offering those points to potential buyers, who may or may not receive tokens in return. It is vital to stay updated with the latest announcements from the team regarding the conversion of points into tokens.
Navigating the Buying and Selling Process
Moving on to the buying and selling process, let’s presume that you are likely interested in selling tokens or points. To initiate this process, you need to create an offer. This involves visiting the Whales Market website, connecting your wallet, and beginning the execution steps. Upon connecting your wallet, click on “Create Offer.” Depending on the tokens or points you wish to sell, select the corresponding market (e.g., Points Market or pre-market tokens like Arc).
Next, enter the specific points or tokens you want to sell. For example, if you possess 10,000 Grass points, input that quantity. Additionally, select the desired token you wish to receive in exchange, such as USDC or Solana. Enter the amount you wish to receive for the specified points or tokens. The platform automatically calculates the price per point, providing you with the current floor price as a reference.
When creating the offer, it is recommended to include a clear description of your listing. Additionally, for the fill type, selecting “Partial Fill” allows for multiple buyers to purchase different quantities of the points or tokens you are selling. On the other hand, choosing “Single Fill” signifies that a buyer must purchase the entire offering in one transaction.
A critical aspect to consider during the selling process is collateral. When setting up the offer, you are required to provide collateral equal to the amount you wish to receive. This collateral acts as protection for the buyer, preventing potential scams from the seller’s end. Without collateral, there is a risk that the seller may not fulfill the trade if the converted tokens or points have a higher value than expected. The collateral ensures that both parties are secure and motivated to carry out the trade successfully.
Settling Trades and Addressing Potential Issues
Once the selling process is complete, you may need to settle trades within a specific timeframe, typically within 24 hours. Failure to fulfill the trade within this grace period can result in repercussions for both the buyer and seller. As the seller, you would lose the collateral deposited, while the buyer would receive the collateral you provided. To settle a trade, navigate to the Orders section in your dashboard, locate the trade, and choose the option to fulfill the trade. Confirm the transaction, ensuring that you possess the tokens or points you listed for sale, and the other party will receive the designated collateral.
In the event of any delays or issues with token airdrops, the Whales Market team is aware of these circumstances and will take them into consideration. It is recommended to reach out to the platform’s support team for assistance in such cases.
Further Considerations on Selling Points
When it comes to selling points, particularly for tokens like Grass, uncertainty regarding conversion rates and qualification tiers should be taken into account. While the linear conversion of points to tokens is straightforward, tier-based systems can yield different outcomes. For instance, having 100,000 points may place you in tier 2, resulting in 25,000 tokens, whereas possessing 999,000 points might classify you in a lower tier, awarding only 10,000 tokens. Ultimately, the value received for selling points depends on the buyer’s position and the final decision made by the Whales Market team.
To make an informed decision, it is advisable to wait for official announcements regarding the conversion process for specific tokens. Tokens like Parcel have more clarity, guaranteeing the receipt of a token after selling a certain number of points. Until concrete information is available, it may be wiser to refrain from selling points. However, if you possess a small number of points and wish to secure profits at the current price, selling a portion of them can be a viable option.
In conclusion, the Whales Market platform allows users to engage in pre-market transactions and over-the-counter trades. Understanding the platform’s functionalities and navigating the buying and selling process is crucial for successful participation. Staying updated with announcements from the Whales Market team will provide valuable insights into the conversion of points into tokens. By following these guidelines, users can effectively utilize the Whales Market platform for airdrop farming activities.
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