Anti Whale Mechanism
The issue most projects that conduct a pre-sale face, right after the pre-sale end, is the inability to preserve the price or actively deal with the upcoming large sell pressure. As most of the early investors will look to cash out on their profits, the selling pressure put on the market will sometimes devaluate projects below the pre-sale price in the first 24h.
In order to avoid a potential pump and dump, and also to ease the selling pressure put on the market in the first weeks of the projects, the WalkSphere team decided to put in place an anti-whale or anti-dump system.
If you are just looking for specific details and not an in-depth read, we have compiled below a small ELI5 about the system. If you are looking for more in-depth details, please continue reading further down the page [TO DO].
- For the first 48 hours, users won't be able to sell more than 100,000 WALKX tokens per transaction. That's a total of 0.01% of the total supply per transaction.
- For the next 7 days, users won't be able to sell more than 1,000,000 WALKX tokens per transaction. That's a total of 0.10% of the total supply per transaction.
- For the next 14 days, users won't be able to sell more than 10,000,000 WALKX tokens per transaction. That's a total of 1.00% of the total supply per transaction.
- After all the anti-dump phases have passed, users will be able to sell without restrictions per transaction. The maximum sell order per transaction will only be limited by the maximum supply amount, in our case, 1B WALKX tokens.
- Transfers of the "wallet-to-wallet" type are unrestricted and not affected by any of the rules above.
The anti-dump system described above is not perfect, however, its job is to discourage and prevent potential massive sell orders, and ease the early selling pressure.