White Whale

[Avanderheyde]

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:

Read Here

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

Team Github

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 Github

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.

Additional Information

[YonatanE22]

Thanks for applying for the grant, @Avanderheyde. Please contact me on TG - Yonatan_SCRTLabs