🔄 WLS Gateway Guide : How to Transfer WLS IN and OUT of Whaleshares.io using RUDEX

10 days ago

We have reached the moment many have been waiting for... the ability to buy and sell WLS on the Bitshares DEX.



Thanks to the team at @RUDEX, we have a quick and easy way to transfer WLS between Whaleshares.io and the DEX.

Last week the Whaleshares dev team posted about the Power Down process here on Whaleshares and how the maximum power down amount is calculated. You can find that post here. If you activated Power Down in your account, every seven(7) days you will see the selected amount of WHALESTAKE transferred to liquid WLS that you can then transfer out to the DEX as needed.

The process by RUDEX is super easy, and others are on the way as well.

To help you gauge the exchange values to BTS/USD on the DEX, I have created this graphic based on this mornings prices. It is a "seller's market" since there was no WLS is available anywhere to buy before today, so there is no need to under value the token when setting a sell offer.

If you think WLS should be worth $1 USD, then don't sell it for less than 9 BTS.


WLS Market Pairings on the DEX

RUDEX: https://market.rudex.org/#/market/RUDEX.WLS_BTS
BITSHARES: https://wallet.bitshares.org/#/market/RUDEX.WLS_BTS


📤 Transfer WLS OUT to the DEX

Use this process to move WLS out of your account to sell on the Bitshares DEX.

From your Whaleshares Wallet. Use the Transfer option next to WLS.

To: rudex
Amount: Enter the amount of WLS you want to send out.
Memo: dex:your-bts-account-name

You MUST include dex: in front of your BTS account name.

MINIMUM SEND AMOUNT IS NOW ONLY 1 WLS

Click Submit.

You will see the transfer into your Bitshares wallet as RUDEX.WLS, or simply WLS if you are using RuDEX.org.


📥Send WLS IN to your Whaleshares Account

Use this process to transfer WLS that you have purchased on the Bitshares DEX in to your Whaleshares account.

From your Bitshares Account . Use the Send option next to the WLS Asset.

This will open the Transfer Window.

To: rudex-whaleshares
Quantity: Enter the amount of WLS you want to send.
Memo: wls:your-whaleshares-account

You MUST include wls: in front of your Whaleshares account name.

MINIMUM SEND AMOUNT IS NOW ONLY 1 WLS

Click Send.

Once the transaction is confirmed (usually less than 60 seconds) you will see the WLS transferred into your Whaleshares account.

You can then use the Power Up option to transfer the WLS to WHALESTAKE.


You can always find help over in the Official Whaleshares Discord
https://discord.gg/3pqBXKY

Also, @fav created a demonstration video. Check that out as well if you are a more visual person. ;-)
https://whaleshares.io/wls/@fav/wls-send-whaleshares-to-rudex-and-add-a-sell-order-in-under-4-minutes

Did something go wrong with your transfer?
No worries, you can send a quick support ticket to the RuDEX team and they will check it out and get back to you ASAP. Be sure to send a screen capture image of the transaction that shows the MEMO as well.
https://rudex.freshdesk.com/support/tickets/new



Thank you for your support!

~ @PowerPics

"PowerPicsWitness"

✅ If you are happy with the work I do to support our network of Beyond Bitcoin partner platforms, please take a minute to jump over to the Witness Page and cast your vote for me. Simply click on the (^) up arrow next to my username "powerpicswitness" and use your private active key to lock in your vote.

While you're there, please consider voting for the other SUPER AWESOME Whaleshares and Bitshares Community Team members you know and trust. Remember, witnesses are the "Guardians" of the blockchain.

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Sort Order:  trending

This is a great tutorial. I've bookmarked it for quick reference.
I'm going to be watching the market for a few days before I do trading. I'm not used to the exchange so I'm being extra careful that I don't buy too high or sell too low. Rookie mistakes happen. I just don't want it to happen to me. LOL

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:-) Hopefully things settle in over the next week or so as liquidity and trading volume finds a balance.

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I suspect we'll have a good idea in about 6 months or so. More people will be using the platform and we'll be out of the "honeymoon" phase.

Now we are at the stage of hunting for liquidity. Is WLS going to be only on Bitshares DEX markets or can we hunt for more listing outside the Bitshares ecosystem?

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At the moment it would only be an asset on the Bitshares DEX. First RUDEX.WLS, maybe next OPEN.WLS, etc. If other centralized exchanges want to create their own proxy tokens to trade WLS that will be up to them.

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What does this mean specifically? "create their own proxy tokens to trade WLS"

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I am thinking maybe we can enter some of the free coin listing contest which will bring more liquidity . What do you think?

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I mean if we have a large enough community why not?

Excellent! I like how straightforward it is to transfer from Whaleshares to the DEX and the other way around.

I put some buy orders in on the DEX.

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RuDEX is a great partner for not only Whaleshares, but Smoke.io and other sister chain. We are always happy to work with them.

It works great! I bought some WLS on the exchange, and transferred it back again to my whaleshares account.

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Super quick and easy process. RuDEX did a great job for us. Hopefully we will get liquidity on the market from the larger accounts and settle in to a stable value for WLS over the next few weeks.

Looking forward to the opening day of WLS !!!!

I've taken a stab and what I think we may see on the opening day in terms of price-
https://whaleshares.io/whaleshares/@cryptoconvert/whaleshares-opening-price-game-time

This is a great tutorial. I am considering buying some WLS, but for now liquidity is close to zero - it says 24hr volume is about 60 WLS and bid-ask price spread is 7.5, which is too big to make a guess for the price.

Anyhow, I believe that when more WLS come to the market, I will rely on this article to trade. Thank you!

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Correct, the very first WLS just hit the market last night (around 13 hours ago) so the volume is low until more people are able to power down a bit and move WLS to the DEX.

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That is the original WHALESHARE vote token used on Steemit posts. OpenLedger adds .unknown to the front of all UIA tokens that they did not create unless you go through a process to 'whitelist' it. Fuzzy did not bother with that since it's kind of shady policy by OL. :-)

But it is not related to WLS or this new platform.

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Aha. Nice to know that. Because lastday the coin named WLS, and when i see today was renaming to Whaleshare.

The flip side to tightly controlling and restricting supply is that there is low liquidity.

I understand that there is a desire for WLS to be priced high, but I also would not like to see the early buyers get burnt. Whales will always have the ability to manipulate price according to their own desires but I hope we don't see that here.

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Correct, I think it will settle into a fair range as more liquidity hits the DEX in the coming weeks. People looking to buy in need a fair price with room for upside value growth. Stability in the value is more important than a 'moon' price in the early months.

I have carry out transaction of rudex.org by exchanging my bts to wls token and also transferring it to my whaleshare account. The last time i mistakenly forget to use the : but the redux support team was able to help me track the transaction and within 24 hours the problem was solved.

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That is great to hear they helped you so fast. :-)

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Yes, I could not believe it myself until the token arrived on my whaleshare account

This post is exactly what I was looking for. I wasn't sure how I was going to power up using bitshares. Thank-You!!!

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Awesome, good to hear. I think a few others in the community have (or are working on) tutorials for using the Bitshares DEX in general and also with the WhaleTokens. We will get them posted in discord too as people drop the links.

This is easy to read and follow. Now to wait for the WLS price to settle according to market forces. Its going to be interesting to watch. I admit I have no idea as to what to value WLS at? I've read some saying (I can't recall who just right now) saying don't go for anything under 10BTS.

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Yeah, we all hope for the $1 value, but realistically I think we need to see it down around the $0.20 range to allow people to buy in to the platform knowing they will see growth and return on that over time. As long as we see a stable price, that would be better than an unrealistic limited volume high price.

Thank you for this guide @powerpics. As of now, I am waiting for around 8 hours for my power down. Will probably do start trading my WLS in rudex.

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You're welcome. It will be great to see where the value settles in as we get more liquidity and trading volume opened up over the next few weeks.

Super awesome!
I will try this out shortly
Progressive train on board
Whales!!!!

Thanks so much for writing up this tutorial!

Nice shoot. This is awesome and good tutorial. 🤗

this is exciting stuff, a real leap forward

Thanks, some good information here. Bookmarked

Woohoooooo!!! This is GREAT news! Thanks for sharing this! :)

Is there a way to sell it for Bitcoin or any other crypto to US dollars ( or whatever your countries currency is)

I'm just following up with some Lexi curation. Thanks for your dedication and hard work to so many platforms. You are appreciated :) ~ @merej99