Terra-based arbitrage platform White Whale participates in Astro Wars, a battle to accumulate the most vxAstro. White Whale has purchased $3.5 million Astro and will join in lockdrop for the governance tokens.
Astro Wars is a battle where the project that will accumulate the most vxAstro will receive power over Astro token incentives. The top five players in this battle are Reactor, Retrograde, Orion, Spectrum and Apollo. $ASTRO is the governance token of Astroport that gives stakers $xAstro while earning fees generated by the protocol. In addition, these tokens can be further locked to receive $vxASTRo, which is a non-transferable token but gives holders additional benefits based on the locking period, such as extra trading fees and increased governance power.
White Whale has purchased Astro using $3.5 million from its treasury and has decided to split it evenly between Apollo and Retrograde. The White Whale Team highlights that the 50/50 split will provide the ultimate competitive advantage by hedging both token risk and governance power. The project will receive Phase 2 lockdrop tokens and a private sale allocation of Retro tokens due to its Astro commitment to Retrograde. To obtain Apollo governance tokens, White Whale will do a treasury swap and participate in Apollo’s lockdrop.
White Whale’s Astro Wars Strategy:
- 500k Astro staked with Retrograde, 500k staked with Apollo
- Retro Phase 2 Lockdrop — a share of 10% Retro Supply
- Private Allocation — 1 million Retro tokens for 100k @ 100 million valuation
- Apollo Lockdrop — a share of 5% Apollo Supply
- Treasury Swap — 1 million Whale tokens for 100k Apollo
White Whale’s decision to participate in the Astro Wars allows the project to prepare for the move of some of its protocol-owned liquidity to Astroport. The project will deposit 46K Luna in its
