During my journey with NFTs, one account that came up in every NFT platform that I looked into was an account referred to as WhaleVault. This astonished me, who is this person with person with what would seem as an end less supply of money? It actually became so popular that people moved on from the term Sharks as an account that holds a lot of influence and money, and termed them Whales.
So, I decided to dive in and see exactly what this account was tied to. I was thinking to myself it couldn’t be one Whale with a ton of money making these purchase their own, could it? I found a website explaining exactly what it was by visiting www.whale.me. Initially, what I had thought I found was more of a Ponzi/Pyramid scheme. On the website they had laid out 3 different roles with Dolphins, Sharks and Whales, each getting different denominations of their own token in what presented itself to be likely an endless supply of its own personal coin and on top of that they had an owner who hides his identity.
Was it really that easy, I guess if you look at some of the different altcoins throughout the community the same could be said for those as well. Their Whale vault was just too extensive and the imprint on the community was too large to be a pyramid scheme right? So, I knew I couldn’t just dismiss it blankly without fully getting an understanding of the mission, and decide to dive deeper.
What I found was the founder Whale Shark happened to be one of the most successful individual investors in the Crypto space early on. He has multiple degrees and an MBA. Just in the last 17 years he has built, led, acquired, and sold several different companies all around the world. Basically, he is largely successful without $WHALE.
So why would a largely successful person such as Whale Shark want to startup $WHALE if they were already successful. I ran past this article, that he wrote and in his own way, he is almost a philanthropist. For him, it came down to 3 principles: sharing, curiosity and creation. He has an if I eat, we eat mentality, but you have to trust and believe in him. Not in a typical sense of fall and I’ll catch you, but in a physical sense with your pocketbook, after all it takes money to make money.
$WHALE is ran almost like a very successful business, they are very structured and an open book once you become a member. They provide an audit of their monthly spend and are their Discord is very community driven. The more I dived into it, the more I found it to be more like the first virtual private club. You can join exclusive $WHALE events, group chats, join different earning opportunities, play poker, get involved in limited edition drops and draws. It can be overwhelming at first getting the lay of the land but I came away impressed by the community.
At this point do to the nature of cryptocurrency and getting burned in the past, it is quite possible, I had judged a book by its cover and was completely wrong. At the time of writing this article, the Whale Vault was valued over $48 Million dollars, not to mention WhaleSharks successes outside of $WHALE, it is easy to see why he would conceal his identity. I was told once you past a certain barrier of financial success, a portion of that wealth is spent on your security and well being. It can actually become a burden to enjoy the everyday luxuries we take advantage of as normal people. So, keeping your identity hidden with his amount of success is understandable in my personal opinion.
As I started doing more and more research, I think I finally understand the concept of the project as a whole. WhaleShark is not doing anything different then a business in the stock market. In the stock market you invest in company A and you get shares back, the more shares you own the more invested you are in that company. Well, with $WHALE coin instead of stocks you get coins and instead of cash dividends, you get coin dividends back monthly instead of quarterly.
The other nice thing, is in such a crowded NFT space, $WHALE is making significant investments in a variety of platforms. They provide that data to you, which almost serves as a guide to an investment opportunities you otherwise might not have been aware of. NFTs are vast and there is new ones everyday, choosing to invest your money in a project is a gamble, but knowing someone is taking a bigger risk then you, sometimes makes the decision easier. Please keep in mind, this is financial advice, please make your own decision on investments, I’ve not been paid for any promotions and all decisions were made solely based on my own opinions. During my journey in becoming a Dolphin, I made sure to not violate any of the ToS brought forth in the $WHALE discord.
Whale, Shark or Dolphin?
In terms of $WHALE, the Dolphin role is the easiest role to obtain. Currently $WHALE is trading at around $18 USD. At a minimum you are looking at $324 for 18 $WHALE, at that $18 trading cost to become a Dolphin. When you tax in Gas fees the price becomes significantly higher. Whether you are buying 18 or 19 the Gas fee is pretty much the same. You must maintain an increased amount of $WHALE each month: April = 18 $WHALE; May = 19 $WHALE; June = 20 $WHALE… etc.
Dolphins each get a share of 500 $WHALE shared between the current Dolphins. Currently that equal out to about 0.65 $WHALE per Dolphin. So, by my calculations the smart move here to avoid Gas fee for awhile would be to purchase 23 $WHALE. With the amount of $WHALE you receive each month you will get an additional 3.25 $WHALE, which will provide you with an additional 3 Months of Dolphin status. So, if you became a member in May and there was not a huge influx of Dolphins, you would keep your Dolphin Status until January 2022 and avoid any additional gas fees.
Queue the Jaws theme music. Sharks must maintain a much larger balance then the Dolphins (420 Currently) and must come up with an additional 20 Whale Tokens each month. April = 420 $WHALE; May = 440 $WHALE; June = 460 $WHALE… etc. Sharks each get a share of 2000 $WHALE shared between the current Sharks. With the current amount of Sharks, they make around 17.6 $WHALE per month. Equal to around $369.6 USD in $Whale Token per month. Again, that number can change drastically either way with that number of Sharks changing monthly. With the current 17.6 WHALE shared per month, Sharks still have to invest 3 $Whale tokens per month to maintain their Shark status.
So again, with the large gas fees with Uniswap you would want to look at around month ahead of the fees. So based on being one month ahead and the Shark numbers being the same adding an additional 25 $WHALE to your current role for May you would be looking at 445 $WHALE. Based on the current amount of Sharks this should allow you to be a member through July without any additional gas fees.
Finally, the most lucrative of them all, let’s talk Whale. Currently to become a Whale as of April 27th, 2021 you would need 900 $WHALE at $18 USD a piece it would cost you a whopping $16,200, before gas. This is what it looks like to be fully committed to this project. If you were an early adopter of this project, talking just 5 months ago, you could have got in at a mere $3280. In just 3 months you would already be seeing a huge return on investment. While the initial cost of investment is a little eye opening, the perks are definitely exciting.
Whales are currently getting a share of 5500 $WHALE per month, and currently there are not a ton of Whales so with that individual Whales are getting around 49.5 $WHALE per month in the current share. You must maintain an increase of 50 $WHALE per month to remain a $WHALE meaning your current investment is only .5 $WHALE. With the value of the $WHALE being around $18 USD, you are making around $891 USD a month. That is an 18.18% return on your initial investment granted the $WHALE does not fluctuate lower. Current requirements for Whale role are as follows: April = 900 $WHALE; May = 950 $WHALE; June = 1000 $WHALE; … etc.
The beauty with the Whale status at its current member amount, you could theoretically purchase 6 additional $WHLE coins and remain a member for the whole year potentially. When you are spending $16200 an additional $108 seems justified to keep the membership going, even with the unknown.
The biggest thing to take away here is the risk reward, do your own research and make your own decision. As of late April 2021, the math is laid out for you. With $WHALE it is hard to predict what exactly where or when the price may fluctuate. I would imagine, things like a loss of value in their holdings in their vault, hacks and member sell off are the things that would drive their price lower, but is there also some type of tie in to the price of Etherium? Quite possible. It is also possible, their evaluation of assets goes up even more and drives the price further up. The coin started in August of last year and has enjoyed a gradually rise, it is quite possible it has not found its ceiling, with any of our choices in life it is all risk.
Becoming a Dolphin
During my process of looking into $WHALE, I made a decision to become a Dolphin. To be honest, I first wanted to join because it is a requirement to submit $WHALE lineups on Swyysh. Since we do not yet have a sponsor for our blog and I provide weekly articles on Swyysh and $WHALE fantasy lineups which require a lot of research, I figured why not take advantage of that research and submit lineups of my own. Once I joined, I was pleasantly surprised by the additional channels you get access to and the tight nit community that followed. Below I will discuss the process, along with the highs and lows of becoming a Dolphin.
Step 1. Go to the Metamask website.
Step 2. Click “Get Chrome Extension” to install Metamask.
Step 3. Click “Add to Chrome” in the upper right.
Step 4. Click “Add Extension” to complete the installation.
When you look in the top right corner of your browser, you will know Metamask is installed when you see the fox logo. Do not sign up for an account.
For the next steps I used Coinbase, which I know some people do not like, do to its 5-7 waiting period on the initial purchase. Once that period has passed though, and you move Ethereum to your Coinbase Wallet, you can easily then purchase Ethereum from the Coinbase Wallet and it will show up almost immediately.
Connecting Coinbase Wallet to Metamask
Step 1. Once you have your Coinbase wallet setup with Etherium loaded, go ahead and click the fox on the top right corner of the browser and click get started. Next you will want to select “Import Wallet”
Step 3. Click on the Metamask fox icon and make sure your Coinbase wallet matches your Metamask balances. If it does you are finished.
Adding $WHALE to Metamask
Step 1. In order to received $WHALE you will need to enable Metamask to see them within your wallet. Start by opening the MetaMask browser extension, and clicking Add Token:
Step 2. Under the Token Search select Custom Token, enter the token address “0x9355372396e3f6daf13359b7b607a3374cc638e0” click Next and add Token:
Step 3. Now that the $WHALE Token has been added to Metamask, you will be able to view the token in your wallet anytime under Assets going forward:
Depending on when you are reading the article the requirements for Dolphin, Shark and Whale may have changed, so the best way to know is to check the Whale Discord, it is free for anyone to join with limited access. https://discord.gg/whale
You can access the channel whale-project-basis and get the lowdown. After figuring out the amount of $WHALE needed for your role, you will want to verify the price of $WHALE and add some additional money for gas fees. In order to get $WHALE you will need to head over to Uniswap. I will preference this by saying you will want to carefully follow the steps below as I am not a huge fan of Uniswap, they screwed me over on fees so much that I had to add addition Ethereum to become a Dolphin. Their site has issues that they knew how to solve but don’t warn you about it until you have an issue and contact their support through Discord. Lucky for you I will share these steps below.
Acquiring $WHALE through UniSwap
Step 1. If you click this link to Uniswap the token will automatically be added to the convertor. Otherwise you will hit the drop down on “Select a token” paste the following: 0x9355372396e3F6daF13359B7b607a3374cc638e0 and select “Import” where it shows (WHALE).
Step 2. Click the gear icon on the top right. Go to slippage and change the setting from .5% to anywhere between 3%-5%, you may even want to add additional time to the Transaction Deadline, say 30 min. I left these settings as is which resulted in a gas fee of around $42 on a failed transaction. Support told me to make this change and it worked but did not offer anything for the trouble, even though it appeared to be a known issue.
Step 3. One other thing to note is the first time you do a swap or liquidity add from a particular token, you have to approve it. This makes it so you can swap that token on Uniswap. From then on, you can swap from that token with only one step. However, the first time requires the approval and then the swap. You are charged an Ethereum transaction fee for the approval, they ended up charging me twice, each time around $8. Again, I was told there was nothing they could do about this and to accept both transactions.
Step 4. When you see the final swap for $WHALE, you will see a gas fee and a total. I would suggest you use the fastest gas in this situation to avoid any issues I experienced.
Once you have verified in your Metamask Wallet that you have enough $WHALE for your specific role, you will want to head over to the Whale Discord Server. In their Discord Server you will see a channel named “-bot-commands”, once in the channel you will want to type the following command for a Dolphin role: “!Claim Dolphin”, if you have enough for a Whale or Shark you will want to replace Dolphin with those terms. After doing so follow the instructions to link your Metamask and you should be all set with your role.
Finally a Dolphin
At the time I became a Dolphin $WHALE was around $20 USD. I purchased a total of 19 $WHALE, with the fees of Coinbase, and the issues I had with Uniswap my total cost to become a Dolphin was $497.30. Hopefully my detailed process will help you from making some of the same mistakes I made.
As I discussed earlier, I had initially joined for Swyysh but found myself much more involved in the community then I expected once I joined. Whether your Top Shot fanatic, a gamer, an art connoisseur, family oriented or gambler. I think they have a little something for everyone.
I decided to go with the low risk option of becoming a Dolphin, it is also what can I afford to throw in at the time. Whale however is the most lucrative to me, do to the return on investment, but also the most risky do to the fluctuation in coin price. Again, I am not a financial advisor, so please make your decision on your own merit. I also do not know the fees incorporated with Withdrawing $WHALE but expect to be around the range of the deposit. If you have any questions please drop them below in the comments, or you can find me on the $WHALE Discord: @Keymaster.