With more and more projects adopting a points system to calculate airdrops and user benefits, a decentralized protocol for pre-market trading of points has emerged in the market. Among them, in the Whales Market, the current value of EigenLayer points is about $0.15 per point.
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Decentralized pre-market trading protocol for points
On-chain points gradually becoming mainstream
Whales Market releases points liquidity
EigenLayer points can now be monetized
The composability of on-chain points is just beginning
Recently, many projects have started distributing airdrops because the point system has many advantages, such as information disclosure, composability, resistance to witch attacks, and so on. Therefore, evaluating the airdrop quota through point scores has become more and more common.
EigenLayer points are calculated based on the quantity and time of staking.
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Compared to token rewards, on-chain points give teams more flexibility and room for adjustment.
However, before distributing airdrops, points do not have liquidity. Therefore, for airdrop hunters who pursue efficiency in fund utilization, there is a market demand for monetizing points.
Addressing this demand, Whales Market, from the Solana ecosystem, not only provides off-exchange trading functions for tokens but also seizes the growing point market by providing a unique on-chain points trading market, allowing users to trade points for undistributed token airdrops at any time.
Unlike previous point transactions, which were usually conducted privately, Whales Market uses smart contract technology to protect the rights and responsibilities of both buyers and sellers, enhancing transaction security.
Any user who wants to buy or sell points can choose to create a trading contract or find an existing one in the market. Point sellers need to deposit a collateral when creating or signing a contract to ensure that they will deposit the tokens into the contract after the airdrop is distributed. If the seller fails to fulfill the contract within 24 hours, the collateral will be transferred to the buyer to protect the rights of both parties.
Whales Market uses a contract model to minimize the calculation and complexity of various points, ensuring the rights of both parties through economic means and smart contracts.
The most important on-chain points recently are undoubtedly EigenLayer, which is already being traded in the market at a current price of about $0.15 per point, providing users with an earlier evaluation of airdrop value.
In addition to EigenLayer, on-chain protocol points that are expected to have airdrops are also traded in the Whales Market, including projects such as Magic Eden, Friend.Tech, and Hyperliquid, each with different point values.
Now that on-chain points can be liquified, it is highly likely that other methods and products for on-chain points will appear in the future. For example, AMM trading of points against points, mortgage lending, derivatives, and other related products may emerge. The application scenarios for on-chain points may be the new applications in the market going forward.
However, since Whales Market is relatively new and the team is still testing the market and the contracts have not been time-tested, the security is relatively low. If you need to use it, you should pay attention to your own risks and the security of your on-chain assets.
(This article is not investment advice)
EigenLayer
Points
Pre-Market
Whales Market
Points
On-chain points
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Concerns raised about the point system? Exchange Backpack announces strict monitoring of malicious volume brushing behavior.
Compared to token rewards, on-chain points give teams more flexibility and room for adjustment.