WhaleStreet – A Decentralised Token Swap Protocol

Vignesh

Capable of ‘Whale Swaps’. Featuring DeFi Collectibles – NFTs to orchestrate swap events. Fuelled by $hrimp – a new ERC20 token. Rewards liquidity providers. Rich utility for LST.

Massive currency swaps – think $100,000, or $500,000, or $1 mn – without crashing a DeFi system. That’s WhaleStreet – a decentralized token swap protocol. We enable that with powerful NFTs, and a brand new ERC20 token called $hrimp, our yield farming token.  

Join the WhaleStreet Discord channel by 12 PM PDT Nov 20, to earn 500 LST.

Powered by Lendroid, the vibe of WhaleStreet is edgier than anything else we have done before and reflects the experimental nature of this space. Of course, when it comes from Lendroid, it is a working experiment with fully audited code and open source UI. 

Here is what WhaleSwap is designed to enable – 

  1. A Financial System that Doesn’t Crash
  2. Rich Range of Utility for LST
  3. Practical Tokenomics, Truly Decentralised Governance

An Financial System that Doesn’t Crash

Swaps are at the heart of all financial instruments. Today, there are very real limitations to swaps. It is possible only for certain currencies and even then, up to a short range of liquidity. In other words, you can’t swap large amounts of crypto. Not without paying a really high cost. This cost, often called ‘slippage’, can sometimes go as high as 17% to 18%. So, limited amounts of a limited number of currencies. These limitations are a drag on growth in DeFi. Enter WhaleStreet.

Swaps of potentially limitless amounts, with slippage at a fraction of what you see in the market right now. We call this the Whale Swap. The best part? Even the less popular currencies can be swapped, as long as there’s market demand. 

Rich Range of Utility for LST

The Lendroid Support Token (LST) is the native token of the Lendroid protocol. LST was, is and will remain a utility token. However, it has certainly evolved over time. In WhaleStreet, LST is the backbone digital asset of this protocol. 

Without sinking into too much detail, those who contribute to LST’s liquidity get to mine the reward token called $hrimp. And once a Whale Swap is complete, a portion of the fees is converted into LST and becomes part of the WhaleStreet treasury. 

With WhaleStreet, we believe that LST finally has a broad, scalable range of utility that it was designed for in the first place. We are especially excited to share this with our community members and LST holders who have placed much faith in the team.  

Practical Tokenomics, Truly Decentralised Governance

Who decides what currencies to swap? Who decides which currency to convert into LST and which to retain as is in the treasury? In WhaleStreet, this decision making is out of the foundation’s hands and is not restricted by some form of consensus either. 

The Swap Master holds the control for a particular Whale Swap. One becomes a Swap Master by successfully bidding for a DeFi Collectible – an NFT that allows the holder to set the terms of the swap. He gets to decide what tokens get swapped, and he walks away with a portion of the fee – could be 5%. Or 15%. Or 50% of the fees.   

And the lubricant for the entire system is $hrimp, an ERC20 token. As we saw earlier, liquidity providers are rewarded in WhaleStreet. And the reward is in the form of $hrimp. 

Provide liquidity to LST, earn $hrimp 

$Shrimp is our brand new yield farming token.

There is more than one way to earn $hrimp. At a basic level, one contributes to LST’s overall liquidity in uniswap, stakes the pool tokens in WhaleStreet and is rewarded with $hrimp. It is important to note in this context that $hrimp is not a pre-mined token. That is, it is exclusively a reward for liquidity providers. The team or the foundation will not be given any $hrimp earlier than the community.

The target supply of $hrimp is 240 mn. $hrimp mining will kick off on December 4. The first NFT auction will happen in Q1 2021.

Please note: $hrimp will not be available before Dec 4. Please do not attempt to buy any in the open market. We will keep the community informed on distribution and liquidity mining.  

A new approach to community

With WhaleStreet, we have a living, breathing protocol that needs community attention and conversation. Do join our discord to keep track of progress across various fronts – NFT, Swap Schedule, Tokenomics and so on. 

We will try to organise periodic calls with the community to take suggestions on product and other operational work like marketing and communications as well. 

We look forward to your support and valuable suggestions and participation during this exciting phase. 

To summarize

  1. Whalestreet is a decentralized token swap protocol. 
  2. We make massive currency swaps – think $100k, $200k, or a million dollars – without crashing the system. 
  3. Contribute to LST liquidity, earn $hrimp
  4. With $hrimp, bid for and buy NFTs every 8 hours
  5. NFTs make you Swap Master. You set the terms of a Whale Swap – what tokens to swap and when. You also get a % of the fee. 
  6. $hrimp farmers, Swap Masters, Whales – everyone is rewarded in $hrimp
  7. Get $hrimp 
  8. Talk to us on Discord

Comments(2)

  1. Avatar
    • 辻啓一

    • 3 days ago

    How can I buy shrimp? until today?

    1. Vijay Xavier
      • Vijay Xavier

      • 4 hours ago

      $hrimp mining begins Dec 4. Do not attempt to buy or get before then.

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