Whale Loans — an enterprise, focused on developing a scalable and secure ecosystem that removes complexity in and around DeFi and distributes value to its users.
What is special about Whale Loans?
Whale Loans will introduce several stablecoin products to enable users to earn attractive returns without resorting to long lockup periods. The ecosystem will bring added value to the token beyond traditional token rebasing strategies. The HUMP token is a fork of the Olympus DAO OHM token. It is the currency that powers the Whale Loans ecosystem.
More about the token:
| 1. | HUMP — a free-floating currency, backed by a treasury supply of the BUSD stablecoin.. |
| 2. | HUMP tokens cannot be created or burned by anyone other than the protocol. The protocol only does this in response to price. |
| 3. | Each HUMP is backed by at least 1 BUSD. If HUMP ever trades below 1 BUSD, the protocol buys back and burns HUMP, pushing the price back to 1 BUSD. |
HUMP is backed by BUSD, not pegged to it. This allows the HUMP token to achieve a stable floating value, never falling below the value of its collateralised assets. HUMP is also expanding its treasury with bonds. The bonds are sold under the protocol for various assets, and, in return, the buyer receives HUMP at a significantly reduced price. This increases the treasury and allows you to bring incredible profits to users.
A portion of the fees from all products will be used as additional support. The remaining fees will be used to improve the protocol through marketing or anything else, deemed necessary.
Staking
Staking is the main value accumulation strategy of Whale Loans. Stakers stake their HUMPs on the Whale.Loans site to earn rebase rewards. Rebasing rewards come from the proceeds of bond sales and can vary depending on the amount of HUMP put into the protocol and the fee rate, set by monetary policy.
Staking — a passive, long-term strategy. Increasing your share of HUMP results in a constantly falling value, approaching zero. This means that even if the market price of HUMP falls below your original purchase price, given a sufficiently long betting period, the increase in your HUMP balance should eventually outpace the fall in price.
When you cancel your bet, you burn sHUMP and get an equal amount of HUMP. Cancellation of rates means that the user will forfeit the upcoming rebase reward.