Stake $WHALES to earn revenue generated from the protocol.


Whales Market generates revenue from the fees collected across OTC markets. These fees are then distributed to $WHALES stakers (60%).

When users stake $WHALES, they receive $xWHALES, the staked derivative token. $xWHALES has two main functions:

  1. To receive revenue share

  2. To be used as collateral across all OTC markets.

Fee Collection and Reward Distribution

  • Fees are collected in various assets, depending on the blockchain (EVM, SOL, etc.) and the specific market.

  • To streamline the reward-claiming process, the protocol periodically converts these collected tokens into $WHALES tokens.

  • These transactions are transparent and can be viewed on the protocol's dashboard

  • The converted $WHALES tokens are then evenly distributed among the stakers as rewards.

Staking Contract Mechanics

The staking contract features a dual-asset pool, consisting of $WHALES and $xWHALES tokens.

  • Users stake $WHALES tokens to receive $xWHALES tokens in return.

  • By holding $xWHALES tokens, stakers are entitled to a progressively increasing quantity of $WHALES rewards.

  • The increment in rewards is achieved through the continuous purchase of $WHALES tokens with the generated revenue, which will then be allocated to the staking pool.

  • This process results in a healthy increase in the $xWHALES to $WHALES conversion rate, thereby augmenting the value for the stakers.

  • This mechanism also prevents post-claim dumping of $WHALES, as rewards are paid out incrementally, rather than all at once.


Stakers have the option to withdraw at any time, converting their $xWHALES back into $WHALES tokens.

Although $xWHALES is tradable, at this stage there is no official liquidity pool on any Solana DEX. The conversion rate is only guaranteed through Whales staking.

Although rev-share is paid out in $WHALES tokens, these $WHALES tokens are purchased off the open market in a transparent manner. Therefore, the rewards in the staking contract do not inflate the supply.

$WHALES tokens from incentives allocation emissions are distributed separately to users, with a 4-year linear vesting schedule.

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