Polywhale (KRILL)

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Basics

  • Based in:
  • Started in / Announced on:
  • Testnet release:
  • Mainnet release: 4-2021
  • Polywhale developers shut the project down and sold most of their tokens in what appears to be a "soft" rug pull.

History

Token

Launch

Token Allocation

Utility

Other Details

Stablecoin

Coin Distribution

Technology

  • Whitepaper can be found [insert here].
  • Code can be viewed [insert here].

Implementations

How it works

Staking

Validator Stats

Liquidity Mining

"Users could stake various tokens including Matic, Quick and several other tokens to earn as APRs as high as 1000% in the native token called Krill."

Scaling

Interoperability

Other Details

Privacy Method

Compliance

Oracle Method

Their Other Projects

Governance

Admin Key

DAO

Treasury

"The team recently started draining funds from its treasury. A specific transaction shows that the Polywhale team drained over $1 million from the project’s treasury from their meant for future development, and sent them to their own wallets. “They were draining funds for five days ago while still advertising they were going to add new dev features, it’s not a simple shutdown it’s an exit scam,” one community member told CryptoBriefing."

Upgrades

Roadmap

  • Can be found [Insert link here].

Audits

Bugs/Exploits

"The team recently started draining funds from its treasury. A specific transaction shows that the Polywhale team drained over $1 million from the project’s treasury from their meant for future development, and sent them to their own wallets. “They were draining funds for five days ago while still advertising they were going to add new dev features, it’s not a simple shutdown it’s an exit scam,” one community member told CryptoBriefing.

Over the weekend, two other smaller yield farms, Polycash Finance and Polysa Finance executed soft rug pulls, and dumped native tokens on their users before deleting social media accounts. Contributing to the expansion of alleged exit scams like Iron Finance and Polywhale is QuickSwap, a Polygon-based DEX. QuickSwap promoted the two projects with massive liquidity reward programs, without displaying due diligence in picking their partners."

"

Usage

"Up until the last week, Polywhale had a total value locked (TVL) of over $100 million across liquidity pools as well as other single asset pools."

Projects that use or built on it

Competition

Pros and Cons

Pros

Cons

Team, Funding, Partnerships, etc.

Team

"The team has abandoned the project and withdrawn over $1 million in tokens. The team said they were quitting due to bad tokenomics and poor market conditions, a claim dismissed by others."

Funding

Partners

(:

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