For the complete documentation index, see llms.txt. This page is also available as Markdown.
Staking Mechanism
Stake $WHALES to get a discount on trading fees.
1. Overview
When you stake $WHALES, you receive $xWHALES—a derivative token with two main uses:
Trading fee discounts: Pay lower fees across Whales Market platforms.
Collateral: Use $xWHALES as collateral in OTC trades.
2. Staking mechanics & $xWHALES growth
The staking contract holds both $WHALES and $xWHALES.
When you stake $WHALES, you receive $xWHALES. Holding $xWHALES increases your share of protocol-generated rewards over time.
This gradual payout prevents large one-time selling (dumping) that could destabilize token value.
3. Withdrawal & liquidity
You may withdraw and convert your $xWHALES back into $WHALES at any time.
$xWHALES is tradable, though not officially listed on Solana DEXs yet. Its conversion to $WHALES is only guaranteed through the staking mechanism.
Rewards are paid in $WHALES but purchased on the open market, which means staking doesn’t inflate supply. $WHALES token distribution from incentive emissions follows a separate 4-year vesting schedule.
FAQ
What is staking $WHALES?
Staking $WHALES is the process of locking up your $WHALES tokens to earn rewards generated from the protocol's revenue.
What is the reward token and what are its benefits?
When you stake $WHALES, you receive the derivative token $xWHALES. This token has two main uses:
Trading Fee Discounts: Pay lower fees across Whales Market platforms.
Collateral: Use $xWHALES as collateral in OTC trades.
Can I withdraw or convert my xWHALES at any time?
Yes, you can withdraw and convert your $xWHALES back into $WHALES at any time.
