# Technical Overview

### 1. Pre-Market

**Official Pre-Market Smart Contracts:**

* **Solana**: `GDsMbTq82sYcxPRLdQ9RHL9ZLY3HNVpXjXtCnyxpb2rQ`
* **Manta**: `0x7a560269480Ef38B885526C8bBecdc4686d8bF7A`
* **Ethereum**: `0x1eCdB32e59e948C010a189a0798C674a2d0c6603`

These deployed contracts handle all pre-market activities (such as buy/sell orders, settlements, and collateral locking) in a permissionless and transparent manner.

<figure><img src="https://640655427-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FIZ0DIaAx9IWoM4I1YGdV%2Fuploads%2FDpMhwH7ZGtBu9JHYLHzK%2Fimage.png?alt=media&#x26;token=d93d0b35-6c42-419c-877c-942b2f3fcc76" alt=""><figcaption></figcaption></figure>

***

### 2. How smart contracts work

Smart contracts are the backbone of **Whales Market OTC (Over-the-Counter) trading**, ensuring fairness for both buyers and sellers:

1. **Collateral Locking**
   * Both parties deposit collateral into the contract.
   * This guarantees that buyers get their purchased points and sellers receive their payment.
2. **Automated Settlement**
   * Once the trade conditions are met, the smart contract **automatically releases funds** to the seller and points (or corresponding tokens post-TGE) to the buyer.
3. **Risk Mitigation**
   * If a seller fails to settle, the contract transfers the seller’s collateral to the buyer as compensation.
   * This **trustless enforcement** eliminates scams common in off-chain OTC deals.
4. **Global Accessibility**
   * No matter where users are located, the rules are the same **on-chain, transparent, and verifiable**.

***

### 3. Contract audits & report

| Auditor    | Contracts                                                                                                                                                             | Date                                       |
| ---------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------------------ |
| PeckShield | [Solana](https://solscan.io/account/stPdYNaJNsV3ytS9Xtx4GXXXRcVqVS6x66ZFa26K39S), [EVM](https://etherscan.io/address/0x1ecdb32e59e948c010a189a0798c674a2d0c6603#code) | <p>2024-01-26</p><h3 id="report"><br></h3> |

#### Report

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{% file src="<https://640655427-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FIZ0DIaAx9IWoM4I1YGdV%2Fuploads%2F70E6h0BtPRkWkPclOX6Y%2FPeckShield-Audit-Report-WhalesMarket-EVM-v1.0%20(1).pdf?alt=media&token=29cbbefb-6275-4f53-a960-849fb6f036ab>" %}

***

### FAQ

<details>

<summary>How does Whales Market's OTC Trading work?</summary>

OTC trades are powered by smart contracts, which ensure fairness and transparency for both buyers and sellers.

</details>

<details>

<summary>On which blockchains are the smart contracts deployed?</summary>

Whales Market's official smart contracts are deployed on Solana, Manta, and Ethereum.

</details>

<details>

<summary>What is "Collateral Locking"?</summary>

Both parties are required to deposit collateral into the smart contract. This guarantees that buyers will receive their purchased tokens and sellers will receive their payment.

</details>

<details>

<summary>What is "Automated Settlement"?</summary>

Once all trade conditions are met, the smart contract automatically releases the funds to the seller and the corresponding tokens (or TGE points) to the buyer.

</details>

<details>

<summary>How does the "Risk Mitigation" mechanism function?</summary>

If a seller fails to settle a trade, the smart contract automatically transfers their collateral to the buyer as compensation. This mechanism prevents common scams that can occur in off-chain OTC deals.

</details>