White Whale is an arbitrage protocol devoted to maintaining the peg on Terra stablecoins and allowing the community to contribute in helping to achieve this misson.
Deposited tokens are represented by vault tokens (vUST, vLUNA, etc.). These tokens are redeemable for the initial deposit along with it's accrued interest, making these tokens auto-compouning. White Whale vaults are structured to provide depositors with:
White Whale is an open, permissionless arbitrage protocol, meaning that any third-party application is free to connect and earn interest without restrictions. Furthermore, all arbitrage contracts are publicly callable.
The native digital cryptographically-secured fungible token of White Whale (WHALE) is a transferable representation of attributed governance and utility functions specified in the protocol/code of White Whale, which is designed to be used solely as an interoperable utility token on the platform.
The WHALE token provides economic incentives that will be distributed to encourage users to contribute to and participate in the ecosystem of White Whale, thereby creating a mutually beneficial system where every participant is fairly compensated for their efforts. The WHALE token is an integral and indispensable part of White Whale platform, because without the WHALE token there would be no incentive for users to expend resources to participate in activities or provide services for the benefit of the entire ecosystem of White Whale. The tokenomics are designed such that incentive WHALE tokens will be awarded to active users based on their actual usage, activity and contribution on White Whale platform and/or proportionate to the frequency and volume of transactions.