This entry is part 8 of 9 in the series Overview of EOS Exchanges

Once again we are seeing a new exchange arriving on EOS-Network. WHALEEX has lately appeared and is currently creating some excitement due to a 200,000 free EOS Account promotion. Meet.One and TokenPoket will support WhaleEX with 100,000 free accounts, each. This is a great kickstart opportunity.

(By the way, switch to English first, as there is a bug on the website showing the field IDs if you have not selected any language)

Additionally, there are ongoing promotions that will grant you 600 whale tokens (subject to change, status November 2018). They also had a Dice promotion running that would incentivize new accounts with 400 dice tokens.

Interface and Functionality

Most of the trading interface has been translated into English so navigation and ordering can be done without issues. I have to say though, that any further information, news, and help are only Chinese as of today. There needs to be some work done here.

The registration process is based on your mobile phone number, this is pretty unique. Additionally, you are asked to bind an EOS account to the WhaleEx account, which is a nice feature for security reasons. During the bind process, you are asked to confirm a transaction of 0.0001 EOS which will appear in your account.

WhaleEX requires a full KYC process and account verification, which is a little unusual for a decentralized exchange.

As always, TradingView supplies the required chart technology, no requirement to go a different route.  The trading interface offers my favorite up/down arrows for easy price and quantity adjustments as well as a percentage scale to adjust order volume based on EOS in your account.

We rarely see “Market Order” functionality as of today, WhaleEX went that route, which is a good decission.

In regards of trading pairs, there is a lot of room for improvement, but WhaleEX is just available since a couple of weeks.

There is an order book available, which I personally don´t like yet, as not ALL of the orders are displayed. You need to select the trading pair separately to see the open or executed orders and transactions.

No profit or loss calculations as recently I saw on one other exchange.

I was a little curious since the support website looks very similar to DEXEOS and NEWDEX, which might show that they might be using the same backend infrastructure.

The official telegram group is well managed and very responsive. This is a very good sign.

Exchange Type: Decentralized Exchange

Login: Registration and Scatter linked to the account
KYC: Yes
Min. Order: 0.1 EOS
Fees: 0.001 %
URL:https://whaleex.com

Mining and Staking

To my knowledge, WhaleEX is the first exchange that offers staking of their own Whale Token. This can be accessed in the assets section.

Furthermore, a mining functionality has been announced that allows you to earn based on trades. This is unique and offers great opportunities to traders. Though DEXEOS also offers their PEN token, the mechanics are entirely different.

I have copied a description from the WhaleEX website here. (It is google translate, so it might be confusing)

Transaction management

Same as DEXEOS, any inbound or outbound transaction with WhaleEX will wait for a block confirmation, thus, you need to calculate 90 seconds waiting time when trying to deposit or withdraw any tokens from/to the exchange. While this is inconvenient for arbitrage traders, for the sake of security it is a good option.

WhaleEX uses a smart contract account, this one shows good signs of a real smart contract integration. I have to say though, that I am not a technician that could judge the process entirely. If you are curious, this is their account managing the trades. https://eosflare.io/account/whaleextrust

Transactions inside WhaleEX are very fast, my test trade was executed instantly.

Conclusion

We will definitely hear some more news from WhaleEX soon. The website shows very good potential and, trade mining will be a good argument for people to move over some funds.

Move over funds is a good point, as opposed to many other Decentralized exchanges, you actually have to send your tokens to the smart contract address, which has a flavor of centralization.  My first impression is anyway very good.

Same as Chaince, I am awaiting some additional promotions. The friends of WhaleEX are definitely interested in supporting the growth of the platform.

If you would love to register a WhaleEX account, you may wish to use one of the below links:

Registration for WhaleEX can be done here: https://ym.whaleex.com/whaleEx/dash/login?inviteCode=DE-39v0Kn (Referal Link, I highly appreciate if you are using it!) or through their website at www.whaleex.com

Interested in more news on EOS exchanges? Please join my telegram groups:

EOS Exchange News: https://t.me/EOS_Exchange_News

EOS Exchange Discussions: https://t.me/joinchat/Hlf2JQ4guSPdWT8MRuYpRQ

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