The project is unique. Before, many wrote about it as a way to buy or sell tokens before the TGE (launch). Or points.

Despite the token price crash, I decided to review the project, evaluating it. Why? I planned it for a long time, and there were those who wanted to read about Whales market.

In Discord, they didn't write about LinkedIn. They said the founders and participants are anonymous.

The truth is that AI found the following:

• William Murphy - Head of Growth. Professional background in photography, which does not match the crypto industry
  No LinkedIn profile.

• Dexter - the project's founder. Remains completely anonymous, has no confirmed LinkedIn profile, no verified information is available.

In the X account whalespremarket there are 3139 subscribers and 304 posts. The last one was 20 minutes ago (at the time of writing this text):

He received 1 reply, 1 repost, and 4 likes.

The previous one, which was 3 hours ago - 5 likes and that's it.

This is an indicator of very weak community activity.

According to the analytics Moni, the project has a Moni score of 47 (level 1 - Stealth).
There are only 2 mentions by simple and smart contracts. Smart contracts - 7.

The project's account has no notable well-known subscribers.

According to the data from Sorsa app, their score is 76 (-16) tier 1 - Unknown.

Bots are 20% or there is no data.

In the Discord Whales market, they answer questions quickly:

But not immediately clearly. The bot really answered with AI - that's a plus. But I didn't like that after this, the moderator didn't immediately write about the anonymity of the team and the lack of open source code: he just suggested reading the documentation. Although I found it anyway.

In the main chat, they communicate infrequently (1-3 messages every few hours):

The announcements mentioned both yesterday and today:

The announcements channel in Telegram - there was a post today and on January 15 before that:

In the Telegram community chat they write and answer questions:

But they didn't answer my questions (account "My").

Although there is more activity: there were messages today and yesterday with questions / answers.

Rating 3 out of 5: social media is more or less active (although the community is not well developed). They answer questions quickly, but not always completely. Fortunately, there was an AI bot in Discord who explained the points (so 3 out of 5, not 2 out of 5). The moderator didn't immediately admit that the code is closed and the team is anonymous.

Documentation on the website docs.whales.market:

It's great that there are user instructions for pre-markets and other features.

Below is a detailed description from the documentation.

Whales Market is a decentralized trading platform that combines two products in one infrastructure. The first product is Pre-Market for trading token allocations before TGE. The second product is Whales Prediction, which is an aggregator of prediction markets for real-world events.

The platform is declared as an on-chain system. All key operations are performed through smart contracts. Third-party funds are locked in them, calculations are made in them, and penalties are applied through them in case of non-fulfillment of obligations. There are no intermediaries in the classical sense, but the team has administrative powers in non-standard situations, for example, when postponing or canceling markets.

Pre-Market is P2P trading of token allocations before their official release. The seller places an order to sell future tokens. The buyer accepts this order. After that, both parties contribute collateral to the smart contract. These funds remain locked until the TGE.

After TGE, the execution phase begins. The seller is obliged to send the tokens directly to the buyer's address in a pre-agreed network. After confirming the transaction, the smart contract unlocks the collateral and completes the deal. If the seller does not send the tokens, they lose their collateral. In this case, the buyer receives compensation but does not receive the tokens themselves.

The documentation explicitly states that Pre-Market here is not a promise to necessarily sell tokens. It's more like a market for betting on the future price. If the price rises significantly at TGE, the seller may find it more profitable not to give the tokens and lose the collateral. This is normal and pre-programmed system behavior, not an error or failure.

The system has a Resell Position mechanism. It allows the buyer to resell their position before TGE. In this case, the new buyer pays money directly to the previous buyer. Collateral and settlement obligations are transferred to the new position holder. The contract remains the same. There is a limitation that the resale price cannot exceed the original by more than 80 percent.

Whales Prediction is a separate product within the ecosystem. It does not create its own markets. It works as a terminal aggregator for existing platforms such as Polymarket and Kalshi. Its task is to collect liquidity, orders, and data in one interface. The platform emphasizes ease of execution, liquidity visibility, and display of large player activity.

The documentation says that prediction markets are growing rapidly, but the infrastructure remains fragmented. Traders have to switch between tabs, lose price on execution, and work in conditions of poor transparency. Whales Prediction is positioned as a solution to this problem. Figures are given about accelerating decision-making and improving execution quality, but these are just team statements.

There is no formal market and competitor analysis in the documentation. There are no comparison tables, no direct analysis of other platforms. Instead, market pain is described. The text explains why the current prediction markets infrastructure is inconvenient and why an aggregator is needed. This is more of a product narrative than an analytical section.

There is not even such for pre-market functionality.

For Pre-Market, official smart contracts are deployed in several networks, including Solana and EVM chains. These contracts handle order creation, collateral locking, execution, and cancellations. All basic execution logic is on-chain.

The settlement scenario is designed as follows. After TGE, a four-hour window is launched. During this time, the seller must send tokens to the buyer. After the transaction is confirmed, the contract completes the deal. If technical problems arise, for example, tokens cannot be burned or the bridge does not work, the platform can enable an extended execution window of up to 48 hours.

If the token is issued in another network and there is no direct delivery route, the team can deploy a temporary cross-chain contract that acts as an escrow and technical intermediary for the bridge. If a secure route does not appear, the market is canceled and funds are returned to the parties.

An important point follows from this. Although trading and settlements are carried out through smart contracts, the platform retains the right to administrative intervention in extreme cases. This is directly described in the settlement rules.

Whales Market uses several types of fees. They depend on what the user is doing and at what stage the deal is.

In Pre-Market, there is an execution fee. At the moment of final execution of the deal, both the final buyer and the original seller pay 2.5% of the nominal value of the deal. This fee is withheld directly from their collateral at the moment of settlement.

If the buyer resells their position through the Resell Position mechanism, an additional 5% fee is charged from them on the nominal value of the resale deal. This fee is withheld immediately upon successful resale. This fee does not participate in any discounts.

In addition to this, the system has a set of platform fees for individual actions. When closing your own order, a fee of 0.5% is charged on the unused part of the deposit or collateral. When buying tokens or filling someone else's order, a 2.5% fee is applied, calculated based on the number of tokens purchased and withheld only after successful execution. When an order is executed, a fee is also applied, which is automatically withheld by the contract. If the buyer cancels the order because the seller did not provide the tokens, 2.5% is charged from both parties' collateral.

Thus, in the Pre-Market, the fee is not taken for the mere fact of placing an order, but for its execution, for exiting a position, and for forced cancellation scenarios.

Whales Prediction uses a different commission model. There, a platform fee of 1% is announced for each executed transaction. This fee covers routing and finding the best price between different platforms. Additionally, the user pays the usual network fee for gas. In the beta phase of Whales Prediction, the platform announces zero platform fees, meaning the user only pays network fees. After the public launch, standard charges are planned to be introduced.

Also, there is a discount system for staking $WHALES in the ecosystem. When staking, the user receives $xWHALES. Starting from a certain threshold of $xWHALES ownership, you can get discounts on trading commissions. To apply the discount, you need to link wallets in different networks, as the platform operates in more than one network.

There is also a separate referral program. In it, a portion of the collected commissions is redistributed among those who bring users. Payouts are made automatically at the time of execution and are paid in the asset in which the commission was charged for a specific market.

Rating 3 out of 5: an interesting and unique idea. There are technical details and instructions for users. But there is no analysis of demand and competitors.

Information is available in the relevant section of the documentation:

Investments and investors are unknown.

$WHALES is the native utility token of the ecosystem. It is issued on the Solana network. The total supply is 100 million tokens. Part of the tokens were distributed retroactively among $LOOT stakers and $xLOOT holders.

Initial distribution:

• The majority, 65 percent, is allocated to incentives and distributed linearly over four years under DAO management. The share is large, and much depends on the quality of the allocated amounts.

• The team received 9.5 percent with a full lock-up for 9 months and subsequent vesting over 36 months.

• Liquidity is 7.5 percent, of which 5 percent is allocated for TGE, and 2.5 percent is reserved for listings.

• Private Sale received 7 percent with half unlocked at TGE and the remainder distributed over two months.

• Airdrop - 5 percent with a one-year vesting period.

• Marketing - 5 percent with a two-year vesting period.

• Security - 1 percent, which is fully unlocked at TGE.

The team and investors are allocated less than 10% - this is good.

But not everything is good with the unlocks:

• The team is allocated normally (3 years)

• For investors, however, 2 months with 50% unlocking at TGE is critically high sell pressure.

The ecosystem has staking. When staking $WHALES, the user receives $xWHALES. This token provides discounts on fees and can be used as collateral. Rewards are paid in $WHALES, but without emission (bought on the market). This means that staking does not create additional inflation. Swapping $xWHALES back to $WHALES is possible at any time through the contract.

Rating 3 out of 5: investors are unknown, as is the amount of investment. The tokenomics are generally okay for the team and investors (<10%), but the unlocks are large - >2% per month at peak (when private sale tokens are unlocked).
Also, it's unclear how well $WHALES are distributed for rewards and marketing.

TGE was in January-February 2024 - 2 years have passed. So now only the team and Incentives have unlocks left. Almost everything is unlocked for marketing (apparently, its effectiveness was low).
Staking is available for discounts, but that's not enough for demand.

It's closed, but there are smart contracts Solana (apparently the code is not open) and EVM. For example, contract in Arbitrum (verified).

this address belongs to the Whales Market protocol and is a technical part of the infrastructure (proxy for executing Pre-Market or other module logic).

Whales Market contracts were audited by PeckShield. The audit covers versions for Solana and EVM. The audit date is listed as January 26, 2024 - that's a very long time ago!

In both audits, no critical or high vulnerabilities were found. Issues of medium and low severity were found. They mainly concerned business logic, handling non-standard ERC20 tokens, scenarios with possible fund locking, and admin access models.

The reports directly state that all identified technical issues were either fixed or mitigated. For the EVM version, two medium-level vulnerabilities and several low-level ones were marked as Resolved or Mitigated. For the Solana version, three medium-level issues and two low-level ones were also marked as Fixed or mitigated.

Auditors separately highlight the risk associated with privileged admin keys. It is not a bug in the code, but an architectural risk of trust. The team noted that this risk was mitigated by changing the role model and a plan to protect or transition to multisig.
Comment: multisig doesn't add much security either.

It is important to understand that the auditors themselves write that an audit does not guarantee the absence of future vulnerabilities and does not replace repeated checks. However, as of the verified versions of the contracts, all identified issues were closed at the code or procedural level.

Rating 2 out of 5: code is closed, but there are audits, and according to their data, errors were fixed or mitigated. But it is important to understand that there is centralized administrative control - this adds centralization risks. Therefore, not 3 out of 5.

Application website: https://whales.market/ru

Click "Connect" and select a wallet:

Authorized:

You can choose between real-time markets, upcoming and completed. And, of course, find.

You can sort, for example, by total volume. To do this, simply click on the desired column:

By volume 24H:

As you can see, the volume over 24 hours is small. The first project has only about 5.1K. That's not much.

Within the article, we will consider:

1. Zama for sale

2. Mega for purchase

ZAMA page:

On the page, we see that the assumed FDV of 70 million dollars is really tiny!

This amount proves that there is almost no liquidity in the Whales market: you can't buy or sell much...

"Create an order":

The total amount of $1,459 for purchase is very little!

You can click "I want to sell" to sell:

I set the price and select the token:

I close it because there is not enough funds. I click on Ethereum at the top and change the network. I switched to Base:

But as seen in the screenshot below, only Ethereum is supported:

I topped up my balance in USDC and select it by clicking on USDT:

I specified a price of $0.2 and a quantity of 100 ZAMA. I remind you that I am selling.

"Create order":

Read carefully what is written. In my case, if I don't provide ZAMA, I will lose USDC. And that the commission is $0.5.

I note that I agree and press "Deposit 20 USDC". Then I give approval and confirm the transaction.

There are also token order tables on the page where you can buy or sell according to the corresponding orders.

For example, sell at 0.03:

As you can see, the minimum deposit is $10.

I topped up and entered a different amount:

"Confirm Sell Order":

I also note that I agree and click the button. Next, I confirm the permissions and confirm the transaction. Done:

As you can see, it offers to fill out the rest of the order immediately. But I won't do that.

On the "Dashboard" page:

We can find our order with 0% fill.

Suppose I'm disappointed with it - I click "Close":

We note that we agree that only the unfilled part of the order will be returned and click "Close Order" and confirm the transaction.

After refreshing the page, make sure there are no open orders:

On the "Filled Orders" tab, find your sale by another order, and

But here only the transaction in the actions is available - you cannot cancel or resell from here.

By the way, by clicking "Create Order" on the last filled one under the corresponding tab, we can buy:

This might be a resale, but I'm not sure, so I won't complete it by adding another 10.5 USDC.

On the "PredictionNEW" tab, we can find a prediction market about the launch of the ZAMA token in 2025:

In general, not very high-quality aggregation. FDV could have been derived.

Click on the corresponding asset on the pre-market and go to the page:

We see that the price is $0.21. The assumed FDV is 2 billion. If we are satisfied, we buy.

To do this, simply select the first item in the table and click "Buy". You can also create an order, but it's more convenient here:

As you can see, here the market is on BSC. It's unclear why trading is here: it would be more logical in Ethereum.

But anyway, what is is. I change the network and top up my balance in USDC here:

"Confirm buy order":

The commission is large - 2.5 USDC. We read that in case of completion but not issuing MEGA tokens, I can return my amount + $21 seller's deposit. I agree and click "Deposit 21 USDC" and confirm the transaction. Done:

In the dashboard on the "Filled Orders" tab, we can finally confirm this:

And yes: here we see that there is a resale function. So this only applies to purchases.

Click on "Resale":

Unfortunately, part of the order cannot be resold.

Click "Resale":

If you agree, check and click the "Confirm" button. Next, confirm the transaction and wait for the order to be filled.
I will leave MEGA bought.

Select the corresponding button in the menu and see the submenu:

Here you will find the referral link:

By going to the control panel, we can share the link and bind the referrer:

By clicking on "Custom link", we can create it:

After refreshing the page, I see that the link has been changed to https://whales.market/r/articler

We also see the percentage from referrals (currently 20%), wallet binding, and the ability to go to companies.

I don't have any.

Differs from referral by attracting traders and earning more income:

"Join now":

Need to create a team or join an existing one.

Create - "Start now":

Join - "Join now" button:

Unfortunately, there is no list - only via the link.

After creation, the team is sent for moderation:

It is located on the old version of the site:

The form is standard. Connect your wallet and stake $WHALES in Solana.

New project from Whales market. Go to the site and log in the usual way using the "Login" button. I did this:

A code is required. I entered it, finding it in X:

Connect wallet:

You can log in via e-mail, X, or Google. Or "Log in via wallet":

I chose mine and, since I was already logged in, I immediately got into the list of markets.

By default, trending events are displayed. I click on "Ending soon":

We can select a category, for example, Politics:

We can enter FDV in the search in the "Cryptocurrencies" section and find all markets by this query:

Including there is a market for Zama FDV.

With the "Add to favorites" button, we can add to favorites. I added Zama. Now let's move on to "Moonbirds FDV above ___ one day after launch?"

We see markets and activity. But there is also an opportunity to place a bet.

And under the form - insider information and market info.

You can select one or several markets.

Selected "$200M":

For the first time after selecting a market, this message will appear - I click "Enable Trading" and sign the message.

And now the page with the selected market has appeared:

As you can see, there is a chart, the order book is now available.

But my positions list is still empty. I can switch to "orders" to see the ones I made.

But before placing a bet, I need to top up my balance. I click "Deposit" at the top:

By clicking on "1. Ethereum", I switch to BNB smart chain:

And I exchange the token for USDC:

And I see the deposit address. I copy it using the corresponding button:

I note that the minimum is 2 $, and I send it.

After refreshing the page after some time, I see the balance:

I enter the amount or click "Max". I look at the potential profit and, if everything suits me, "Trade" and confirm in the wallet.

At the current price level, it results in a cool profit - +72.46 $!

But it's worth remembering that Whales Predictions has a 1% commission: if you bet with a small profit, it can almost completely absorb it.

On the board, there might be statistics. Little textual information:

In the portfolio, we can see our trades:

For a completed one, we can get the reward or the remaining amount by clicking "Receive":

And confirm it in the wallet after clicking the button with the same name.

Done:

Further on this page, we see the position. We can go to trading or share it.

When switching to trading, the maximum number of shares is inserted immediately:

This is convenient.

On the "Referral" page, everything is like this:

My code

WP7VEESSZ5

Link https://whales.market/prediction/ru/private-access?ref=WP7VEESSZ5

You can also share and view statistics.

By the way, you can select a different type of order when selling:

For example, I will set a limit order to sell 25% of the amount at 75 cents:

"Place order" and confirm - done!

To consider other orders, I will go to Researcher -> Favorites:

And select Zama:

For example, I chose $600M. Market and limit showed earlier, so now "Split":

I selected this type of order from the list:

"Split shares" and confirm in the wallet.

In my positions, I can see that there are two:

And you can use this in your trading strategies.

The "Merge" order is created so that you can merge split stocks. After that, you will receive USDC:

And if you see a loss on No, you can fix part or all of the stocks:

Just specify the desired amount and click "Trade".

Rating 4 out of 5: convenient interface, clear functionality. There is development: they created Whales Prediction, where you can trade and bet on Polymarket and possibly other services.
But when placing a buy order in the pre-market, a fairly large commission was obtained: > 10% of the amount in $21.
Although the sale was normal. Perhaps with a deal for > 100 USDC, the percentage would be normal - I didn't check.

• Team: 3 out of 5: social networks are more or less active (although the community is weakly developed). They answer questions quickly, but not always completely. Fortunately, there was an AI bot in Discord who explained point by point (hence 3 out of 5, not 2 out of 5). The moderator didn't immediately admit that the code is closed and the team is anonymous.

• Concept: 3 out of 5: interesting and unique idea. There are technical details and instructions for users. But there is no analysis of demand and competitors.

• Coin: 3 out of 5: investors are unknown, as is the amount of investment. The tokenomics are generally allocated normally to the team and investors (<10%), but the unlocks are large - >2% per month at peak (when private sale tokens are unlocked).
  It is also unclear how well the $WHALES are distributed for rewards and marketing.
  TGE was in January-February 2024 - 2 years have passed. So now only the team and Incentives have unlocks left. Almost everything is unlocked for marketing (apparently, its effectiveness was low).
  Staking is available for discounts, but this is not enough for demand.

• Code: 2 out of 5: the code is closed, but there are audits, and according to their data, errors were fixed or mitigated. But it is important to understand that there is centralized administrative control - this adds centralization risks. So not 3 out of 5.

• Practice: 4 out of 5: convenient interface, clear functionality. There is development: created Whales Prediction, where you can trade and bet on Polymarket and possibly other services.
  But when placing a buy order in the pre-market, a fairly large commission turned out: >10% of the amount in $21.
  Although the sale was normal. Perhaps with a deal of >100 USDC, the percentage would be normal - I didn't check.
  There is authorization by e-mail, x and Google in addition to the wallet - this is good. But the marketing seems to be poor for the project: it won't help.

Final score: 15 out of 25 points. Weak.

Subscribe to my Telegram channel https://t.me/blind_dev - there are new reviews, tokenomics analysis of projects, as well as posts about me and my developments.

The project is unique. Before, many wrote about it as a way to buy or sell tokens before the TGE (launch). Or points.

Despite the token price crash, I decided to review the project, evaluating it. Why? I planned it for a long time, and there were those who wanted to read about Whales market.

In Discord, they didn't write about LinkedIn. They said the founders and participants are anonymous.

The truth is that AI found the following:

• William Murphy - Head of Growth. Professional background in photography, which does not match the crypto industry
  No LinkedIn profile.

• Dexter - the project's founder. Remains completely anonymous, has no confirmed LinkedIn profile, no verified information is available.

In the X account whalespremarket there are 3139 subscribers and 304 posts. The last one was 20 minutes ago (at the time of writing this text):

He received 1 reply, 1 repost, and 4 likes.

The previous one, which was 3 hours ago - 5 likes and that's it.

This is an indicator of very weak community activity.

According to the analytics Moni, the project has a Moni score of 47 (level 1 - Stealth).
There are only 2 mentions by simple and smart contracts. Smart contracts - 7.

The project's account has no notable well-known subscribers.

According to the data from Sorsa app, their score is 76 (-16) tier 1 - Unknown.

Bots are 20% or there is no data.

In the Discord Whales market, they answer questions quickly:

But not immediately clearly. The bot really answered with AI - that's a plus. But I didn't like that after this, the moderator didn't immediately write about the anonymity of the team and the lack of open source code: he just suggested reading the documentation. Although I found it anyway.

In the main chat, they communicate infrequently (1-3 messages every few hours):

The announcements mentioned both yesterday and today:

The announcements channel in Telegram - there was a post today and on January 15 before that:

In the Telegram community chat they write and answer questions:

But they didn't answer my questions (account "My").

Although there is more activity: there were messages today and yesterday with questions / answers.

Rating 3 out of 5: social media is more or less active (although the community is not well developed). They answer questions quickly, but not always completely. Fortunately, there was an AI bot in Discord who explained the points (so 3 out of 5, not 2 out of 5). The moderator didn't immediately admit that the code is closed and the team is anonymous.

Documentation on the website docs.whales.market:

It's great that there are user instructions for pre-markets and other features.

Below is a detailed description from the documentation.

Whales Market is a decentralized trading platform that combines two products in one infrastructure. The first product is Pre-Market for trading token allocations before TGE. The second product is Whales Prediction, which is an aggregator of prediction markets for real-world events.

The platform is declared as an on-chain system. All key operations are performed through smart contracts. Third-party funds are locked in them, calculations are made in them, and penalties are applied through them in case of non-fulfillment of obligations. There are no intermediaries in the classical sense, but the team has administrative powers in non-standard situations, for example, when postponing or canceling markets.

Pre-Market is P2P trading of token allocations before their official release. The seller places an order to sell future tokens. The buyer accepts this order. After that, both parties contribute collateral to the smart contract. These funds remain locked until the TGE.

After TGE, the execution phase begins. The seller is obliged to send the tokens directly to the buyer's address in a pre-agreed network. After confirming the transaction, the smart contract unlocks the collateral and completes the deal. If the seller does not send the tokens, they lose their collateral. In this case, the buyer receives compensation but does not receive the tokens themselves.

The documentation explicitly states that Pre-Market here is not a promise to necessarily sell tokens. It's more like a market for betting on the future price. If the price rises significantly at TGE, the seller may find it more profitable not to give the tokens and lose the collateral. This is normal and pre-programmed system behavior, not an error or failure.

The system has a Resell Position mechanism. It allows the buyer to resell their position before TGE. In this case, the new buyer pays money directly to the previous buyer. Collateral and settlement obligations are transferred to the new position holder. The contract remains the same. There is a limitation that the resale price cannot exceed the original by more than 80 percent.

Whales Prediction is a separate product within the ecosystem. It does not create its own markets. It works as a terminal aggregator for existing platforms such as Polymarket and Kalshi. Its task is to collect liquidity, orders, and data in one interface. The platform emphasizes ease of execution, liquidity visibility, and display of large player activity.

The documentation says that prediction markets are growing rapidly, but the infrastructure remains fragmented. Traders have to switch between tabs, lose price on execution, and work in conditions of poor transparency. Whales Prediction is positioned as a solution to this problem. Figures are given about accelerating decision-making and improving execution quality, but these are just team statements.

There is no formal market and competitor analysis in the documentation. There are no comparison tables, no direct analysis of other platforms. Instead, market pain is described. The text explains why the current prediction markets infrastructure is inconvenient and why an aggregator is needed. This is more of a product narrative than an analytical section.

There is not even such for pre-market functionality.

For Pre-Market, official smart contracts are deployed in several networks, including Solana and EVM chains. These contracts handle order creation, collateral locking, execution, and cancellations. All basic execution logic is on-chain.

The settlement scenario is designed as follows. After TGE, a four-hour window is launched. During this time, the seller must send tokens to the buyer. After the transaction is confirmed, the contract completes the deal. If technical problems arise, for example, tokens cannot be burned or the bridge does not work, the platform can enable an extended execution window of up to 48 hours.

If the token is issued in another network and there is no direct delivery route, the team can deploy a temporary cross-chain contract that acts as an escrow and technical intermediary for the bridge. If a secure route does not appear, the market is canceled and funds are returned to the parties.

An important point follows from this. Although trading and settlements are carried out through smart contracts, the platform retains the right to administrative intervention in extreme cases. This is directly described in the settlement rules.

Whales Market uses several types of fees. They depend on what the user is doing and at what stage the deal is.

In Pre-Market, there is an execution fee. At the moment of final execution of the deal, both the final buyer and the original seller pay 2.5% of the nominal value of the deal. This fee is withheld directly from their collateral at the moment of settlement.

If the buyer resells their position through the Resell Position mechanism, an additional 5% fee is charged from them on the nominal value of the resale deal. This fee is withheld immediately upon successful resale. This fee does not participate in any discounts.

In addition to this, the system has a set of platform fees for individual actions. When closing your own order, a fee of 0.5% is charged on the unused part of the deposit or collateral. When buying tokens or filling someone else's order, a 2.5% fee is applied, calculated based on the number of tokens purchased and withheld only after successful execution. When an order is executed, a fee is also applied, which is automatically withheld by the contract. If the buyer cancels the order because the seller did not provide the tokens, 2.5% is charged from both parties' collateral.

Thus, in the Pre-Market, the fee is not taken for the mere fact of placing an order, but for its execution, for exiting a position, and for forced cancellation scenarios.

Whales Prediction uses a different commission model. There, a platform fee of 1% is announced for each executed transaction. This fee covers routing and finding the best price between different platforms. Additionally, the user pays the usual network fee for gas. In the beta phase of Whales Prediction, the platform announces zero platform fees, meaning the user only pays network fees. After the public launch, standard charges are planned to be introduced.

Also, there is a discount system for staking $WHALES in the ecosystem. When staking, the user receives $xWHALES. Starting from a certain threshold of $xWHALES ownership, you can get discounts on trading commissions. To apply the discount, you need to link wallets in different networks, as the platform operates in more than one network.

There is also a separate referral program. In it, a portion of the collected commissions is redistributed among those who bring users. Payouts are made automatically at the time of execution and are paid in the asset in which the commission was charged for a specific market.

Rating 3 out of 5: an interesting and unique idea. There are technical details and instructions for users. But there is no analysis of demand and competitors.

Information is available in the relevant section of the documentation:

Investments and investors are unknown.

$WHALES is the native utility token of the ecosystem. It is issued on the Solana network. The total supply is 100 million tokens. Part of the tokens were distributed retroactively among $LOOT stakers and $xLOOT holders.

Initial distribution:

• The majority, 65 percent, is allocated to incentives and distributed linearly over four years under DAO management. The share is large, and much depends on the quality of the allocated amounts.

• The team received 9.5 percent with a full lock-up for 9 months and subsequent vesting over 36 months.

• Liquidity is 7.5 percent, of which 5 percent is allocated for TGE, and 2.5 percent is reserved for listings.

• Private Sale received 7 percent with half unlocked at TGE and the remainder distributed over two months.

• Airdrop - 5 percent with a one-year vesting period.

• Marketing - 5 percent with a two-year vesting period.

• Security - 1 percent, which is fully unlocked at TGE.

The team and investors are allocated less than 10% - this is good.

But not everything is good with the unlocks:

• The team is allocated normally (3 years)

• For investors, however, 2 months with 50% unlocking at TGE is critically high sell pressure.

The ecosystem has staking. When staking $WHALES, the user receives $xWHALES. This token provides discounts on fees and can be used as collateral. Rewards are paid in $WHALES, but without emission (bought on the market). This means that staking does not create additional inflation. Swapping $xWHALES back to $WHALES is possible at any time through the contract.

Rating 3 out of 5: investors are unknown, as is the amount of investment. The tokenomics are generally okay for the team and investors (<10%), but the unlocks are large - >2% per month at peak (when private sale tokens are unlocked).
Also, it's unclear how well $WHALES are distributed for rewards and marketing.

TGE was in January-February 2024 - 2 years have passed. So now only the team and Incentives have unlocks left. Almost everything is unlocked for marketing (apparently, its effectiveness was low).
Staking is available for discounts, but that's not enough for demand.

It's closed, but there are smart contracts Solana (apparently the code is not open) and EVM. For example, contract in Arbitrum (verified).

this address belongs to the Whales Market protocol and is a technical part of the infrastructure (proxy for executing Pre-Market or other module logic).

Whales Market contracts were audited by PeckShield. The audit covers versions for Solana and EVM. The audit date is listed as January 26, 2024 - that's a very long time ago!

In both audits, no critical or high vulnerabilities were found. Issues of medium and low severity were found. They mainly concerned business logic, handling non-standard ERC20 tokens, scenarios with possible fund locking, and admin access models.

The reports directly state that all identified technical issues were either fixed or mitigated. For the EVM version, two medium-level vulnerabilities and several low-level ones were marked as Resolved or Mitigated. For the Solana version, three medium-level issues and two low-level ones were also marked as Fixed or mitigated.

Auditors separately highlight the risk associated with privileged admin keys. It is not a bug in the code, but an architectural risk of trust. The team noted that this risk was mitigated by changing the role model and a plan to protect or transition to multisig.
Comment: multisig doesn't add much security either.

It is important to understand that the auditors themselves write that an audit does not guarantee the absence of future vulnerabilities and does not replace repeated checks. However, as of the verified versions of the contracts, all identified issues were closed at the code or procedural level.

Rating 2 out of 5: code is closed, but there are audits, and according to their data, errors were fixed or mitigated. But it is important to understand that there is centralized administrative control - this adds centralization risks. Therefore, not 3 out of 5.

Application website: https://whales.market/ru

Click "Connect" and select a wallet:

Authorized:

You can choose between real-time markets, upcoming and completed. And, of course, find.

You can sort, for example, by total volume. To do this, simply click on the desired column:

By volume 24H:

As you can see, the volume over 24 hours is small. The first project has only about 5.1K. That's not much.

Within the article, we will consider:

1. Zama for sale

2. Mega for purchase

ZAMA page:

On the page, we see that the assumed FDV of 70 million dollars is really tiny!

This amount proves that there is almost no liquidity in the Whales market: you can't buy or sell much...

"Create an order":

The total amount of $1,459 for purchase is very little!

You can click "I want to sell" to sell:

I set the price and select the token:

I close it because there is not enough funds. I click on Ethereum at the top and change the network. I switched to Base:

But as seen in the screenshot below, only Ethereum is supported:

I topped up my balance in USDC and select it by clicking on USDT:

I specified a price of $0.2 and a quantity of 100 ZAMA. I remind you that I am selling.

"Create order":

Read carefully what is written. In my case, if I don't provide ZAMA, I will lose USDC. And that the commission is $0.5.

I note that I agree and press "Deposit 20 USDC". Then I give approval and confirm the transaction.

There are also token order tables on the page where you can buy or sell according to the corresponding orders.

For example, sell at 0.03:

As you can see, the minimum deposit is $10.

I topped up and entered a different amount:

"Confirm Sell Order":

I also note that I agree and click the button. Next, I confirm the permissions and confirm the transaction. Done:

As you can see, it offers to fill out the rest of the order immediately. But I won't do that.

On the "Dashboard" page:

We can find our order with 0% fill.

Suppose I'm disappointed with it - I click "Close":

We note that we agree that only the unfilled part of the order will be returned and click "Close Order" and confirm the transaction.

After refreshing the page, make sure there are no open orders:

On the "Filled Orders" tab, find your sale by another order, and

But here only the transaction in the actions is available - you cannot cancel or resell from here.

By the way, by clicking "Create Order" on the last filled one under the corresponding tab, we can buy:

This might be a resale, but I'm not sure, so I won't complete it by adding another 10.5 USDC.

On the "PredictionNEW" tab, we can find a prediction market about the launch of the ZAMA token in 2025:

In general, not very high-quality aggregation. FDV could have been derived.

Click on the corresponding asset on the pre-market and go to the page:

We see that the price is $0.21. The assumed FDV is 2 billion. If we are satisfied, we buy.

To do this, simply select the first item in the table and click "Buy". You can also create an order, but it's more convenient here:

As you can see, here the market is on BSC. It's unclear why trading is here: it would be more logical in Ethereum.

But anyway, what is is. I change the network and top up my balance in USDC here:

"Confirm buy order":

The commission is large - 2.5 USDC. We read that in case of completion but not issuing MEGA tokens, I can return my amount + $21 seller's deposit. I agree and click "Deposit 21 USDC" and confirm the transaction. Done:

In the dashboard on the "Filled Orders" tab, we can finally confirm this:

And yes: here we see that there is a resale function. So this only applies to purchases.

Click on "Resale":

Unfortunately, part of the order cannot be resold.

Click "Resale":

If you agree, check and click the "Confirm" button. Next, confirm the transaction and wait for the order to be filled.
I will leave MEGA bought.

Select the corresponding button in the menu and see the submenu:

Here you will find the referral link:

By going to the control panel, we can share the link and bind the referrer:

By clicking on "Custom link", we can create it:

After refreshing the page, I see that the link has been changed to https://whales.market/r/articler

We also see the percentage from referrals (currently 20%), wallet binding, and the ability to go to companies.

I don't have any.

Differs from referral by attracting traders and earning more income:

"Join now":

Need to create a team or join an existing one.

Create - "Start now":

Join - "Join now" button:

Unfortunately, there is no list - only via the link.

After creation, the team is sent for moderation:

It is located on the old version of the site:

The form is standard. Connect your wallet and stake $WHALES in Solana.

New project from Whales market. Go to the site and log in the usual way using the "Login" button. I did this:

A code is required. I entered it, finding it in X:

Connect wallet:

You can log in via e-mail, X, or Google. Or "Log in via wallet":

I chose mine and, since I was already logged in, I immediately got into the list of markets.

By default, trending events are displayed. I click on "Ending soon":

We can select a category, for example, Politics:

We can enter FDV in the search in the "Cryptocurrencies" section and find all markets by this query:

Including there is a market for Zama FDV.

With the "Add to favorites" button, we can add to favorites. I added Zama. Now let's move on to "Moonbirds FDV above ___ one day after launch?"

We see markets and activity. But there is also an opportunity to place a bet.

And under the form - insider information and market info.

You can select one or several markets.

Selected "$200M":

For the first time after selecting a market, this message will appear - I click "Enable Trading" and sign the message.

And now the page with the selected market has appeared:

As you can see, there is a chart, the order book is now available.

But my positions list is still empty. I can switch to "orders" to see the ones I made.

But before placing a bet, I need to top up my balance. I click "Deposit" at the top:

By clicking on "1. Ethereum", I switch to BNB smart chain:

And I exchange the token for USDC:

And I see the deposit address. I copy it using the corresponding button:

I note that the minimum is 2 $, and I send it.

After refreshing the page after some time, I see the balance:

I enter the amount or click "Max". I look at the potential profit and, if everything suits me, "Trade" and confirm in the wallet.

At the current price level, it results in a cool profit - +72.46 $!

But it's worth remembering that Whales Predictions has a 1% commission: if you bet with a small profit, it can almost completely absorb it.

On the board, there might be statistics. Little textual information:

In the portfolio, we can see our trades:

For a completed one, we can get the reward or the remaining amount by clicking "Receive":

And confirm it in the wallet after clicking the button with the same name.

Done:

Further on this page, we see the position. We can go to trading or share it.

When switching to trading, the maximum number of shares is inserted immediately:

This is convenient.

On the "Referral" page, everything is like this:

My code

WP7VEESSZ5

Link https://whales.market/prediction/ru/private-access?ref=WP7VEESSZ5

You can also share and view statistics.

By the way, you can select a different type of order when selling:

For example, I will set a limit order to sell 25% of the amount at 75 cents:

"Place order" and confirm - done!

To consider other orders, I will go to Researcher -> Favorites:

And select Zama:

For example, I chose $600M. Market and limit showed earlier, so now "Split":

I selected this type of order from the list:

"Split shares" and confirm in the wallet.

In my positions, I can see that there are two:

And you can use this in your trading strategies.

The "Merge" order is created so that you can merge split stocks. After that, you will receive USDC:

And if you see a loss on No, you can fix part or all of the stocks:

Just specify the desired amount and click "Trade".

Rating 4 out of 5: convenient interface, clear functionality. There is development: they created Whales Prediction, where you can trade and bet on Polymarket and possibly other services.
But when placing a buy order in the pre-market, a fairly large commission was obtained: > 10% of the amount in $21.
Although the sale was normal. Perhaps with a deal for > 100 USDC, the percentage would be normal - I didn't check.

• Team: 3 out of 5: social networks are more or less active (although the community is weakly developed). They answer questions quickly, but not always completely. Fortunately, there was an AI bot in Discord who explained point by point (hence 3 out of 5, not 2 out of 5). The moderator didn't immediately admit that the code is closed and the team is anonymous.

• Concept: 3 out of 5: interesting and unique idea. There are technical details and instructions for users. But there is no analysis of demand and competitors.

• Coin: 3 out of 5: investors are unknown, as is the amount of investment. The tokenomics are generally allocated normally to the team and investors (<10%), but the unlocks are large - >2% per month at peak (when private sale tokens are unlocked).
  It is also unclear how well the $WHALES are distributed for rewards and marketing.
  TGE was in January-February 2024 - 2 years have passed. So now only the team and Incentives have unlocks left. Almost everything is unlocked for marketing (apparently, its effectiveness was low).
  Staking is available for discounts, but this is not enough for demand.

• Code: 2 out of 5: the code is closed, but there are audits, and according to their data, errors were fixed or mitigated. But it is important to understand that there is centralized administrative control - this adds centralization risks. So not 3 out of 5.

• Practice: 4 out of 5: convenient interface, clear functionality. There is development: created Whales Prediction, where you can trade and bet on Polymarket and possibly other services.
  But when placing a buy order in the pre-market, a fairly large commission turned out: >10% of the amount in $21.
  Although the sale was normal. Perhaps with a deal of >100 USDC, the percentage would be normal - I didn't check.
  There is authorization by e-mail, x and Google in addition to the wallet - this is good. But the marketing seems to be poor for the project: it won't help.

Final score: 15 out of 25 points. Weak.

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