White Whale #4
Description
Project Name
White Whale
Team Name
White Whale
Payment Address
secret1x93z8wy0eeunp0m7q03f6fdgclfv6slflwc4z3
Project Description
White Whale is an interchain arbitrage infrastructure protocol that facilitates efficient markets across the cosmos ecosystem.
Problem / Solution
Problem in Cosmos Ecosystem: liquidity is fragmented across constituent chains (e.g., Cosmos, Osmosis, Secret, etc) and across Dexes on each of the constituent chains (e.g., Astroport, Terraswap, Loop, Phoenix). Fragmented liquidity results in poor swap performance (price discrepancies) and may even seize up in severe crashes when LPs are drained. Conversely, good performance provides the confidence in the system needed to weather massive, rapid withdrawals and decrease the likelihood of a crash occurring. Fragmented liquidity is also capital inefficient: the liquidity may not be where it is needed.
Solution: White Whale V2 will provide interchain arbitrage infrastructure to the Cosmos ecosystem to decrease the fragmented liquidity, fix price disparities, and decentralize market-making by lowering capital and knowledge barriers all in a capital-efficient method. White Whale V2 infrastructure includes (i) inter-blockchain connected Liquidity Pools that represent the interchain price (ii) Flash Loan vaults and (iii) open-source arbitrage bots.
Detailed Product Description:
Already Completed
Flash Loan Vaults for Terra and Juno
Liquidity Pools for Terra and Juno
(yet to be launched)
Grant Deliverables
Flash Loan Vaults
Liquidity Pools
Open Source Bots
Interchain command connection for Liquidity pools and Flash Loan Vaults
Go-to-Market Plan
Launch Flash Loan Vaults and Liquidity Pools
Connect Flash Loan Vaults and Liquidity Pools to interchain command
Value capture for Secret Network Ecosystem
Solving the cosmos fractured liquidity and price instability problem to exponentially improve the Secret user experience.
- Access to Flash Loans that allow capital-efficient market-making and other innovations
- Liquidity Bridge to connect Secret to Juno and Terra, and more chains in the future
- Stabilized prices between Dexes on Secret, Juno and Terra
- Open source bots empowering the Secret developer community
- More Terra Community on Secret
Team members
Sebastian
Founder & CEO
Sencom
CTO, Tech Lead
0xFable
COO, Smart Contract Dev
Kerber0x
Head of Smart Contract Dev
0xBobloblaw
Dev, BD
Bossanova aka Whaleon Musk
Head of Bots
Vinodhum
Front End
Kaimen Sano
Smart Contract Dev
Jujujayb
Designer
Contributors Separate from Grant
NA
Team Website
whitewhale.money
(may not be updated to reflect V2 yet)
Team’s Experience
Launched Protocol to Decentralized Arbitrage on Terra
- Users earned risk-free arbitrage yield on top of Anchor yield simply for depositing UST into our vault.
Largest protocol-owned treasury (30M)
- Accumulated the largest treasury on Terra and actively managed the Treasury with community buy-in.
- Performed a Treasury Swap with Apollo DAO and was an active participant in the Astrowars.
Protocol-owned liquidity (12M)
- Avoided having to provide liquidity incentives, thereby decreasing our token’s inflation which in turn stabilized our price.
- During the Terra classic collapse, our liquidity pool became the largest pool on Terraswap because all the other pools had their liquidity providers remove their funds.
Pioneered Cosmwasm Flash Loans
- A Flash Loan is a crypto primitive that exhibits billions in volume each year on Ethereum.
- Flash Loans are often misconceived as being only bad because they are often used in protocol exploits. However, exposing deficiencies in the crypto economy using flash loans may make it more robust and hardened.
- Flash Loans empower less capitalized users. By utilizing Flash Loans, arbitrage trades or liquidations that require enormous amounts of capital become available to anyone as long as the trade is profitable. Flash Loans are an underappreciated, equalizing force in the world of decentralized finance.
- Read more about them: here
Team Code Repos
Development Roadmap
White Whale Expansion
- Local Liquidity Pool Network
- Local Flash Loan Vault Network
- Interchain Liquidity Bridge
- Interchain Liquidity Aggregator
- Interchain Price Stabilizer
- Open-Source Arbitrage Framework
- Connecting Secret Liquidity Pools to other chains
Team Code Repos
Team LinkedIn Profiles
NA
Brand Ambassadors and Advisors
NA
Development Roadmap
- Local Liquidity Pool Network
- Local Flash Loan Vault Network
- Interchain Liquidity Bridge to Connect White Whale Liquidity Pools on Secret to other chains
- Interchain Liquidity Aggregator
- Interchain Price Stabilizer
- Open-Source Arbitrage Framework
Technical Milestones M1-...
M1: Upon the passing of grant proposal
M2: Launch of AMM pools
M3: Launch of Flash Loan vaults
M4: Connection to other chains
Performance Milestone
100k in Liquidity in the first month
The Future and Our Commitment to Secret Network
To become a validator and participate in Secret governance indefinitely.