Whales Market offers a decentralized OTC trading platform for users to directly exchange assets across multiple blockchains.
The novel idea behind Whales Market is simple: to address the inherent risks of peer-to-peer cryptocurrency trading. While informal methods like social groups, private messages, and some centralized platforms have long facilitated P2P transactions, they often lack robust security measures. This exposes traders to potential scams and fraud, where sellers may fail to deliver promised tokens.
The main reason for this is because these tradings don't require any commitment amongst the parties involved, as the trading route between them are not penetrable and most likely base on the routes between both parties
Whales Market addresses this issue by bringing OTC trading onto a single platform. This allows buyers and sellers to facilitate mutually agreed upon on-chain transactions. Capital remains locked in smart contracts and is only released to the parties upon successful transaction settlement. This advancement not only streamlines the trading process but also significantly reduces the risk of financial losses due to deceptive practices.
