Walrus (WAL)

$WAL NOV Recap - Introducing the first @WalrusProtocol RFP cohort! 🦭 - The meme economy is finally real with ReMeme 🦭 - The Walrus Haulout Hackathon is live and it's bringing $100k+ in prizes! 🦭 - "Without Walrus, I don't think we would have the ability to do everything we want to do" - @Claynosaurz - Your fav Walrus brought the coolest bar to Sui Connect: Buenos Aires! 🦭

ICYMI: $WAL IS NOW LISTED ON KRAKEN EXCHANGE FOR TRADERS IN CANADA🇨🇦 AND THE US🇺🇸 @WalrusProtocol 🦭 https://t.co/RkwYszYL4C

$WAL Funding rate theory Alot of $WAL holder have been talking about consistent -ve funding rate on Walrus perps. Let's get to root cause ▫️ $WAL funding rate on Binance is around -63% annually, means that shorters are paying 63% annual APY to short $WAL Who is shorting $WAL? ▫️ Shorts have accumulated in high levels since insane APR campaigns started on Binance providing around 120-180% annual APR for locked period of time ▫️ Whales bought spot bag to lock & earn while kept shorting $WAL to hedge their spot bags. Ending up with clean profits What can happen next? ▫️ If some MM plans to liquidate that hedge by manipulating the price to multiple folds, to make those shorters buy $WAL at higher prices before unlock happens ▫️ If above scenarios doesn't happen, probably WAL will keep trading in these levels till those campaign ends & will result in better & less artificial market once those whales clear their positions with closing their hedge trades.

am active. Bring jobs, it is time to resume duties. Meanwhile don't forget @EmberProtocol_ is still on @GiveRep and their APR on vaults like $WAL still good making you rest easy whether pump or dump.