Cryptocurrency

White whale purchases $3.5 million Astro to participate in Astro Wars

White whale purchases .5 million Astro to participate in Astro Wars
Written by Arindam
White whale purchases .5 million Astro to participate in Astro Wars

Terra-based arbitrage platform White Whale participates in Astro Wars, a battle to accumulate the most vxAstro. White Whale has purchased $3.5 million Astro and will join in lockdrop for the governance tokens. 

Astro Wars is a battle where the project that will accumulate the most vxAstro will receive power over Astro token incentives. The top five players in this battle are Reactor, Retrograde, Orion, Spectrum and Apollo. $ASTRO is the governance token of Astroport that gives stakers $xAstro while earning fees generated by the protocol. In addition, these tokens can be further locked to receive $vxASTRo, which is a non-transferable token but gives holders additional benefits based on the locking period, such as extra trading fees and increased governance power. 

White Whale has purchased Astro using $3.5 million from its treasury and has decided to split it evenly between Apollo and Retrograde. The White Whale Team highlights that the 50/50 split will provide the ultimate competitive advantage by hedging both token risk and governance power. The project will receive Phase 2 lockdrop tokens and a private sale allocation of Retro tokens due to its Astro commitment to Retrograde. To obtain Apollo governance tokens, White Whale will do a treasury swap and participate in Apollo’s lockdrop. 

White Whale’s Astro Wars Strategy:

  • 500k Astro staked with Retrograde, 500k staked with Apollo
  • Retro Phase 2 Lockdrop — a share of 10% Retro Supply
  • Private Allocation — 1 million Retro tokens for 100k @ 100 million valuation
  • Apollo Lockdrop — a share of 5% Apollo Supply
  • Treasury Swap — 1 million Whale tokens for 100k Apollo

White Whale’s decision to participate in the Astro Wars allows the project to prepare for the move of some of its protocol-owned liquidity to Astroport. The project will deposit 46K Luna in its treasury in the Luna/bLuna pool to earn fees and Astro rewards for the treasury. Moreover, all Luna will be deposited in Luna LP pairs to earn a base yield to prepare for White Whale’s Luna Vault. Lastly, many of the future arbitrage vaults will utilize Astroport liquidity pools for base yield, so it will be advantageous for White Whale to have the ability to direct rewards to the pools that benefit its platform.

For more information about White Whale’s participation in Astro Wars, visit their Medium

About White Whale

White Whale is a Terra-based arbitrage platform that gives retail investors access to high-level arbitrage opportunities and helps to support the Terra ecosystem. It empowers users to keep the UST peg via L1 seigniorage arbitrage and participate in other complex automated trading strategies previously reserved for a limited group of whale traders. 

To learn more about White Whale, visit

Website | Twitter | GitHub | Medium 

Disclaimer: This is a paid post and should not be treated as news/advice.

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Arindam

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