WHALE circulation

The purpose of this grant proposal is to allocate 5 million WHALE tokens in funding from the Migaloo community pool to BackBone Labs to develop and launch four key projects on the Migaloo chain: 1. Gravedigger - completed 2. NFT Marketplace 3. NFT Launchpad 4. NFT Switch The 5 million WHALE tokens will be sent to a multi-sig controlled by the Migaloo team. They will then send the Backbone Labs team 1 million WHALE to their multi-sig address and the remaining 4 million to be vested over the next 12 months. (BBL has agreed with clawback conditions) To learn more about this grant proposal read our Medium article @ https://backbonelabs.medium.com/backbone-labs-miagloo-whitewhale-grant-proposal-c0fa1e264f98

The purpose of this grant proposal is to allocate 5 million WHALE tokens in funding from the Migaloo community pool to build a long term and vested relationship with ERIS protocol. ERIS protocol has been at the forefront of delivering DeFi products on the Migaloo blockchain and continues to develop key products on Migaloo while also integrating WhiteWhale on any external chains. Amplifier and Amp Governance - completed Alliance GUI - completed Amp Z Arb Vaults Leverage Vaults Alliance Layer The 5 million WHALE tokens will be sent to a multi-sig controlled by the Migaloo team. The funds will be vested quarterly over two years. (ERIS has agreed with clawback conditions) To learn more about this grant proposal read our Medium article @ https://medium.com/@eris_protocol/migaloo-x-eris-ecosystem-partner-grant-proposal-f59dd2a32278

### Contextual Setting This proposal is to request funding from the Migaloo community pool in order to build Shark Protocol; a DeFi-influenced price prediction market protocol. All the details and discussion about the proposal can be accessed via the below links: [Shark Protocol Medium Article](https://medium.com/@racoon-supply/expanding-our-partnership-with-white-whale-c98fbd497277) [White Whale Discord: migaloo-governance: Shark Protocol](https://discord.com/channels/908044702794801233/1097822410205573212) ### Proposer Racoon Supply is a team of builders supported by a great community within the Cosmos Ecosystem. Racoon Supply is the team behind [Racoon.Bet](https://www.racoon.bet/), [Empawrium.Wtf](https://www.empawrium.wtf/) and [Racoon.Supply](https://www.racoon.supply/) applications. We have built fully on-chain custom game of chances, Play To Earn NFT games, an NFT marketplace and several other smart-contracts used on Migaloo, Chihuahua, Juno, Secret and Stargaze. Migaloo is the home of Racoon Supply and we want to grow its ecosystem and users by building a DeFi-influenced price prediction market protocol. We are convinced that the unique design of Shark Protocol has the ability to draw the attention of a lot of users. Additionally, our current on-chain applications have shown to increase on-chain activity. ### Simple example and some Shark Protocol features Every 5 minutes, 30 minutes, 1 hour, or 24 hours, you will have the opportunity to open long [bulls] or short [bears] positions based on whether the price of Bitcoin, Ethereum, Whale, etc. will be higher or lower than its current value. Opening a long [price will go up] position entails wagering a sum of money against those who open a short [price will go down] position. All the amounts wagered will go into a pool, and once the time period comes to an end, those who made correct predictions will receive 97.5% of the total value in the pool. A 2.5% fee is retained to be distributed among the following stakeholders: + 70% to $SHARK stakers + 10% added as incentives to the $SHARK-$WHALE pool + 9% added as liquidity to the $SHARK-$WHALE pool + 6% to $WHALE stakers + 5% to Racoon NFTs & $RAC stakers Below are some unique features that will make Shark Protocol very unique: + Interactive live chat + One of a kind UI and charts + Mobile friendly + Weekly missions + Leaderboard and protocol statistics + Custom user profiles + $SHARK stakers is the house + Ability to open leveraged positions + Integrated with White Whale DEX + $SHARK stakers and $SHARK-$WHALE LP providers get a part of the fees For more details about how Shark Protocol will be designed, refer to the two links presented above. There is much more information. ### Grant request Shark Protocol will be exclusively developed for the White Whale and Migaloo ecosystems and their community. Moreover, it has been meticulously designed to reward the users and players of the protocol. To fund the development of Shark Protocol, we are requesting 5 million $WHALE from the Migaloo community fund. A 10% allocation will be provided upfront to the team to initiate the project, while the remaining amount will be vested over 18 months, with releases scheduled at every block. It is important to note that the grant can be clawbackable through governance if any unforeseen circumstances arise. The $WHALE will be initially deposited in the $WHALE foundation wallet and a vesting contract will then be used to make the distribution. ### Roadmap (short version) A preliminary roadmap was presented in White Whale Discord. Please refer to it for more details. Below is a shortened version: + Planning and finalize core designs: airdrop, tokenomics, visuals, collaborations and partnersips.[4-6 weeks] + Alpha release - [10-12 weeks]: A first version of the application with some features and the smart-contracts will be released to the public. + Beta release - [8-10 weeks]: Beta version of the application and smart-contracts. Additional features will be added to the protocol along with a first mobile version, user profile, live chart and documentation. + Official release - [6-8 weeks]: All the features will be added to the protocol and its final version will be released. Again, for more details refer to the aforementioned links. There are 1 to 3 weeks periods after each milestone to adjust the protocol with respect to received comments and feedback. ### Conclusion We are highly confident that such a protocol and unique design will attract new users to Migaloo as well as within the White Whale Ecosystem. Additionally, we believe that creating a protocol that rewards its users as well as its stakeholders will draw a lot of eyes on the project. It is also worth mentioning that the majority of the $SHARK airdrop (10% of the tokenomics) will be given to the $WHALE stakers. For more details: [Shark Protocol Medium Article](https://medium.com/@racoon-supply/expanding-our-partnership-with-white-whale-c98fbd497277) [White Whale Discord: migaloo-governance: Shark Protocol](https://discord.com/channels/908044702794801233/1097822410205573212).

This proposal is to request approval from the Migaloo community to join the amazing RIDE program and to build out Ginkou "The Bank of Alliance" that was recently deployed on the Migaloo blockchain. Now, this part is normally where a team goes into a whole long prologue of what they are looking to build in the hope they can show you what they are thinking of building in text form. Luckily enough for everyone reading this and for the person typing this, all you need to see is here: www.ginkou.io — That's right we have built v1 already! Ginkou are a group of industry professionals with experience in Blockchain Technology, UI/UX design, smart contract development, infrastructure design and much more. We have recently joined forces with Cavern Protocol which has allowed us to deliver the first version of Ginkou audited out of the box. We were aware of the fact White Whale wanted a Money Market to bolster the use-case of the Migaloo chain and given our commitment to the chain (ERIS Validator Wars are a prime example of our commitment) with our validator and relayer services we quickly decided we were going to build Ginkou on Migaloo. We share the vision of the White Whale team and we will work closely with them to build out a money market that follows their quest for Interchain greatness. Where White Whale goes, Ginkou will most likely follow.Up until now this project has been wholly self-funded, both financially and time-wise, and we are very pleased with the results of what we have built so far. But now the time has come to take this to the next level and this is where a request for funding comes in so that we can build what we think will be the Money Market for the interchain vision. Here is what we have planned to build during the course of the remainder of Q4 + beyond and what stakers of 'XYZ' (more of this later) will be able to access on Ginkou. Working with the White Whale team to create a migaloo native stable denom — YES YOU READ THAT CORRECT!!! Liquidation and arbitrage bots Enhanced position monitoring for borrowers Auto-conversion of liquidated collateral into denom of your choice Liquidation protection Support for multiple stable-coins Parameterisation of various components in the protocol which will be governed by our users. Overall enhancement of metrics on the platform Auto-compounding (choice of frequency) of USD for depositors (Saving vaults) Fiat on/off ramp Work with the premier LST providers ERIS and Backbone to create a LST of 'XYZ' — these will be added as collateral on the dApp, but the take fee will be less to recycle to token holders and used to incentivise borrowers Create mobile app version (phone + tablet) for iOS and Android Build leverage functionality native to Ginkou We have been asked by many people why we launched without a token, the answer has always been fairly simple: A token needs to have utility and we never wanted to have a token that was just used for emissions. We now have a platform to build from so now we can start talking about a token. Let's start with the fun stuff; Airdrops, and who will be eligible: $WHALE stakers Liquidity providers on White Whale DEXes Eris Protocol and BackBone Labs LSD users To be announced ecosystem partners Ginkou Collateral depositors Ginkou USDC depositors — this time size matters ;-) Burnt whale, got $ASH? Yes you will qualify! Ginkou NFT holders (yes NFT's with utility are coming!) In order to not be front-run by token creators, our token, for now, will be known as 'XYZ' and in order to try and keep the tokens utilised in the ecosystem, 25% of the airdrop will be claimable upon launch. 'XYZ' will be minted using the Migaloo Token Factory. The ticker has already been decided upon and we have prepped listing forms for CoinGecko and CoinMarketCap. That being said, there is a bounty up for grabs for the person that changes our mind! The remaining 75% will be released based on the following criteria: X — Stake 'XYZ' token to release 25% Y — Deposit USDC on Ginkou to release 25% Z — Deposit USDC in the Liquidation Queue on Ginkou for the final 25% Now for some of the less exciting, but still exciting stuff that will bring value to 'XYZ' Staking of 'XYZ' will enable you to get a share of the fees generated by the protocol In the future where the protocol has excess yield, this can be used to buy back 'XYZ' to create an additional positive feedback loop. Stakers of 'XYZ' will decide what happens with the 'XYZ' Stakers of 'XYZ' will get a portion of liquidation premiums that are acquired by the protocol funded liquidation bots (addresses will be made public prior to launch) We will be working closely with the White Whale team (as we have done so far) to see where we can capture yield to distribute to stakers. As our ecosystem evolves, so should we be adopting future opportunities to bring extra value to our protocol(s) Some additional features to bring value to 'XYZ' are discussed in the beginning of this article and ofcourse we will listen to community suggestions that we can incorporate whilst we build this out.Now for some numbers: Max. Supply (fixed): 66.777.888 Token distribution: Team: 10% — vested/cliffed for 12 months then linearly unlocked over 2 years Treasury (staking incentives): 20% — Linearly decreasing over a period of 10 years Liquidity Incentives: 20% — 10% initial provision on 'XYZ'<>WHALE — 10% reserved for future incentives where they make economic sense. Airdrop: 40% Public sale (streamswap or alternative Migaloo Launchpad): 10% — for price discovery What are we asking for? Well, the number is 7.5m WHALE We think this number is fair given we have already committed a large portion of WHALE into the ERIS Validator wars program and locked for the maximum period. Why we think it is even more fair is because we will keep the whale in the ecosystem to bootstrap various parts of our protocol. As we have done so far, we commit to what we believe in, in other words we are positioning ourselves with full belief in our own product and strategy. We have already deposited 10k USDC in Ginkou on the deposit side because, again, we believe in our product and strategy. Through this funding we will be able to commit a long term future to some of our current "part-time" members and have a budget to increase our infrastructure as and when required as the product grows. As we are opening up various communication channels we will listen to the community for any features or enhancements to the product. If they make sense, we will build them! One final note — the smart contracts are owned by a multisig which has team members of the White Whale team on it — we cannot deploy anything without their say so. We have agreed the following terms with the WW team for the release of funds: 1: 20% upfront, which we will liquid stake with the ERIS and Backbone Ecosystem partners 2: 80% amount will be vested over 18 months, with releases scheduled at every block. Ginkou<>Migaloo = The Future