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Introduction To Migaloo
Who, what, when is migaloo. Named after a famous whale, Migaloo has grown up from an app chain to hosting its own Blockchain. Lets Dive in and learn more.
Migaloo: The Epicenter of Interchain Liquidity Solutions
About Lesson

Understanding the Bonding Function in White Whale on Migaloo

Bonding: A Key Feature of White Whale App Bonding, distinct from simple staking on the Migaloo Chain, is an exclusive feature of the White Whale App. This function is specifically designed for Liquid staked Whale tokens like ampWHALE & boneWHALE.

Purpose of Bonding

  • Local Governance: Bonding empowers community members to participate in governance decisions of their chosen White Whale satellite market, shaping the pool listings and fee structures.
  • Earning Protocol Revenue: Bonding enables earning a share of the satellite market’s revenue, in addition to the inherent staking rewards of Liquid staked Whale.
  • Directing Interchain Liquidity: Future enhancements of White Whale will allow bonders to influence the flow of interchain liquidity.

Advantages of Bonding Bonding unlocks the earning potential of $WHALE, offering rewards from:

  1. DEX Revenue: A swap fee of 0.3% with a portion (0.1%) allocated to the protocol.
  2. Flash Loan Revenue: A fee of 0.15% on flash loans.
  3. Bribes: Potential rewards from protocols incentivizing liquidity redirection.

The APR for bonding varies and is displayed in the app, influenced by various revenue components and individual multiplier points.

Claiming Rewards Rewards, allocated daily, require manual claiming. Unclaimed rewards for over 21 days are redistributed, ensuring active participation and eliminating dead capital.

Bonding Mechanics

  • Flexibility: Bond any amount of Liquid staked-WHALE without restrictions.
  • Unbonding Period: Unbonding takes 14 days, with no rewards earned during this period.
  • Withdrawal: Post unbonding, immediate withdrawal of lsWHALE is possible.

Multiplier Points System Rewards depend on multiplier points, which accumulate over time, reflecting the bonding duration on a specific satellite. Unstaking leads to the burning of these points, while new additions accrue points from the moment of staking.

Bonding Rewards Initially, all rewards are converted to WHALE for distribution. Future governance decisions may alter this to include various token forms like WHALE + ATOM, etc.

Available Satellite Markets Bonding is available on various satellite markets accessible via the White Whale dApp’s Dashboard. New markets may incorporate bonding progressively.

Tutorial and Assistance For a comprehensive guide, a step-by-step YouTube tutorial on the bonding feature is available.

Risks Associated with Bonding While the White Whale team rigorously tests and reviews its products, inherent risks in pioneering technologies remain, including:

  • Smart Contract risks for the liquid staking token of WHALE.
  • Smart Contract risks of the White Whale dApp.
  • Potential failure of the Migaloo Blockchain.
  • Exploits within the White Whale Protocol.
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