UniWhales Becomes The Biggest Market Mover Overnight

UniWhales becomes the biggest market mover overnight as the CEO Matt Aaron said that there were three big moves in liquidity providers that exited USDC/ETH, USDT/ETH positions on Uniswap while in less than 15 minutes, $47 million worth of liquidity exited the Uniswap system once Elon Musk posted on Twitter as we reported in our altcoin news previously.

In retrospect, it was inevitable

— Elon Musk (@elonmusk) January 29, 2021

Aaron commented:

“Our thesis is that whales control the market. People with more money tend to have better information.”

UniWhales started back in September 2020, as a Telegram channel with a bot that started flagging purchases on Uniswap. It then started analyzing the moves of the big whales on Uniswap which is a leading automated market maker on Ethereum. Santiago Roel from PAraFi capital said that he has also been using this product for a while:

 “Their subscription model offers a glimpse into how SaaS could be brought on chain, which will be an emerging theme as a new monetization model.”

For example, earlier in January, the price of the PICKLE token increased by 40% from less than $11 to almost $14 and all members of the UniWhales community watched it happen. The Telegram bot of the platform was flagging $1.6 million worth of PICKLE that was picked up in a short span of time. That was about 75% of the daily trading volume at once and PICKLE is exactly built for spotting this kind of movement. Some traders will have to follow the momentum but others will simply be using UniWhales to alert them if they need to start looking at Telegram to see what happened.

Pickle started as a publicly-minded Weird DeFi project that was aimed at helping stable coins hold their peg but the platform evolved into something similar to Yearn Finance and it even got exploited. Aaron and Timur eventually develop the UWL token which enables access to the app and exclusive webinars and premium Telegram channels so UniWhales is still working on its business model but with the main focus on creating a strong analytics community for DeFi.

UniWhales described it as a decentralized autonomous organization so by holding UWL, the users can also express their opinions about what more is needed:

 “We are definitely benevolent dictators,open dialogue with everyone in their community.”

To access the private channels of the community a user will need to hold 5000 UWL.

🥒Wen $DILL? Now DILL!!🥒

Huge thanks to @AndreCronjeTech and the crew at @iearnfinance for finalizing the DILL contracts after audit.https://t.co/NPpeggtHXVhttps://t.co/7swEkUpSI7

Implementation of DILL is well underway 🔨🔨

Stay tuned for more!

— Pickle Finance 🥒 (@picklefinance) January 27, 2021