Settlement Rules

What will happen at TGE Time?

Once the project’s tokens are released by the foundation, a 4-hour settlement window* begins, starting from the moment the token is listed on CEXs or DEXs. During this time, both sellers and buyers must act to complete or settle their transactions. *Subject to adjustment by the demand of Whales' community

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1. For Sellers

1. You must settle your order before the 4-hour settlement deadline expires.

2. Once SETTLED, you will receive your collateral funds back, plus the buyer’s payment.

3. If the seller fails to settle within this period, they will lose their collateral to the buyer.

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2. For Buyers

1. Upon successful token release and settlement, buyers automatically receive the allocated tokens, and their funds are released to the seller.

2. If the seller misses the deadline and becomes OVERDUE, buyers can cancel the order. Their deposited funds will be refunded, deducted from the seller’s collateral.

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Wait until TGE: Neither sellers nor buyers can settle or cancel orders before the Token Generation Event (TGE).

The 4-hour countdown starts only when the project’s token is officially listed on markets.

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FAQ

When does the settlement phase happen, and how long does it last?

The settlement phase begins when a project's token is officially listed on centralized (CEXs) or decentralized (DEXs) exchanges. This phase lasts for 4 hours

What happens if a Seller doesn't settle on time?

If the seller misses the 4-hour settlement deadline, their Order will become OVERDUE. The seller will lose their collateral, and it will be transferred to the buyer.

As a Buyer, what can I do if a seller doesn't settle?

If the seller misses the 4-hour settlement deadline, their Order will become OVERDUE. The seller will lose their collateral, and it will be transferred to the buyer.

What does a seller get after a successful settlement?

After a successful settlement, the seller will get their collateral back and receive the payment from the buyer.

Why can't I cancel or settle an order before TGE?

Neither sellers nor buyers can settle or cancel an Order before the TGE (Token Generation Event). The settlement process only begins once the project's token is officially listed on markets.