White Whale V2 Beta Launch! - By White Whale
White Whale is a project for arbitrage's and liquidations in Cosmos on Juno and Terra.
Disclaimer - This is part of our outside perspective series. Curious Cosmonaut Research is not the author we are simply highlighting some good threads and perspectives on the Cosmos ecosystem with their permission. We also, therefore, do not guarantee their accuracy.
Author: White Whale Team
Source: Blog
Date: September 23, 2022
In the span of a few months, we have completely redesigned our product, adjusted our smart contracts, and pivoted our focus from a single-chain dApp to an Interchain Cosmos Ecosystem dApp. We are more than happy to announce the first iteration of our product is live on Terra & Juno Mainnet.
Live App: https://app.whitewhale.money/pools
Read our whitepaper and listen to our twitter space with Tendermint Timmy!
Our Launch Approach
We plan to launch White Whale V2 iteratively. With the iterative approach, we will receive constant feedback to improve as opposed to all the feedback at once during a singular launch. We chose this approach to be flexible with the constantly changing Interchain development environment in the Cosmos ecosystem.
Iteration 1:
We have deployed our liquidity hubs (AMM pools and flash loan vaults) on Terra and Juno with additional chains following in the next few weeks. The liquidity hubs are the first step to providing arbitrage infrastructure to the cosmos. The liquidity pools are pools that our future open source arb bots will interact with in order to arb DEXs (junoswap, Loop, Astroport, etc.).
Liquidity Pools
We will launch with the following base pairs:
Atom — Luna
Atom — Juno
Atom — USDC
which will be available on every chain.
On Juno we are adding the following pairs:
- Juno — Raw
- Juno — Loop
- Juno — USDC
On Terra we are adding:
- Luna — LunaX
- Luna — Astro
- Luna — USDC
Flash Loan Vaults
Juno Network: Single asset Juno vault
Terra 2.0: Single asset Luna vault
Pool and Vault Fees: 0.3% (0.2% to liquidity provider + 0.1% protocol)
Protocol fees will simply accrue until we have a token to distribute protocol revenue to.
Opportunity + Capital
White Whale (WW) infrastructure (AMM liquidity pools, flash loan vaults, and open-source bots) is critical to the health of any DeFi ecosystem. We have officially provided two of the 3 necessities for arbitrage. We now provide Capital and Opportunity, on Terra and Juno. We will soon provide knowledge too.
The WW liquidity pools (LPs) provide traders the opportunity to profit from divergent prices across dexes on Terra and Juno. Without WW’s AMM pools, there would be no opportunity for atomic (instant) arbitrage because otherwise an IBC transaction is required for the arb.
The WW flash loan vaults provide arbitrageurs and liquidators access to instant capital to perform the arbitrage. Access to flash loan capital obviates the need for every arbitrageur/liquidator to have their own capital idle waiting for arbitrage or liquidation opportunities, thereby increasing capital efficiency. All participants can share the same WW pool. A detailed description is provided in our litepaper.
WW will provide the knowledge to readily implement arbitrage by releasing open-source arb bots that any person can access.
If you are interested in arbitrage, smart contracts, flash loans, etc., check out our open-source Migaloo core repository.
Gathering the Guardians
We envision a future with more capital efficiency and price stability on every major money market in the Cosmos. Over the last couple of months, we have laid the groundwork for that vision and now we are gathering our community members in order to equip us with the critical piece that is still missing to make that vision come true: liquidity. We know the market for liquidity is very competitive but we are working hard on an incentive structure that will be fair for everyone and reward early contributors and long-term White Whale believers. Our liquidity incentives plan will be announced in the near future so stay tuned.
What’s Next
Our Team is already working on the next iterations of our final product: the interchain liquidity module which will allow liquidity to flow seamlessly between liquidity hubs on different chains to go to where it is needed the most and our open source arbitrage bots. We will keep pushing and innovating to enrich the whole Cosmos. See you on the other side.
We have many more announcements, events, and product features planned for the next couple of months that we can not wait to share with our community! Make sure to follow us on Twitter and join our discord to stay in the loop.
If you would like to support the White Whale team, make sure to delegate to us on Terra 2.0, Juno, Chihuahua, Injective, and Kujira.
