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Frequently Asked Questions

Everything you need to know about Open Whale

What is tOWAI?

tOWAI (test Open Whale AI tokens) is the play-money currency on Open Whale. You earn tOWAI for free through airdrops and daily claims, then use it to trade on tOWAI-denominated prediction markets. It's a great way to learn how prediction markets work with zero financial risk.

What is the difference between tOWAI and OWAI?

Open Whale has two tokens that coexist permanently:

  • tOWAI — Play money. Free via airdrop and daily claims. Low-stakes learning environment.
  • OWAI — Real money. Purchased on pump.fun or Raydium. Real-stakes prediction markets.

Each market is denominated in one token. You'll see which token a market uses on its card (e.g., "Volume: 1,234 OWAI"). You must use the matching token to trade on that market.

How does the daily faucet work?

The faucet lets you claim free tOWAI tokens once per day. The daily reset happens at 00:00 UTC (midnight UTC).

Visit the Claim page to collect your daily tokens.

What are streak bonuses?

Claiming on consecutive days builds a streak that increases your daily reward:

StreakMultiplierReward
Days 1-21x100 tOWAI
Days 3-41.25x125 tOWAI
Days 5-61.5x150 tOWAI
Day 7+2x200 tOWAI

The maximum multiplier is 2x, which you maintain as long as you keep claiming daily.

What happens if I miss a day?

If you don't claim before 00:00 UTC, your streak resets to 0 and you lose your multiplier bonus. The next time you claim, you'll start fresh at Day 1 with the base 1x multiplier.

There's no way to "catch up" on missed days - each day's allocation is forfeit if not claimed before the daily reset.

When does the daily reset happen?

The daily reset happens at 00:00 UTC every day. This is the same time worldwide, regardless of your local timezone.

For reference: UTC is the same as GMT. In the US, that's 7:00 PM EST / 4:00 PM PST (or 8:00 PM EDT / 5:00 PM PDT during daylight saving time).

How do prediction markets work?

Prediction markets let you buy shares in outcomes you believe will happen. Each market has YES and NO shares, priced between $0 and $1 based on the crowd's collective belief in the probability.

  • Buy YES shares if you think the event will happen
  • Buy NO shares if you think it won't
  • When the market resolves, winning shares pay out $1 each
  • Losing shares are worth $0

What is LMSR pricing?

Open Whale uses the Logarithmic Market Scoring Rule (LMSR) for automated market making. This mathematical formula ensures:

  • You can always buy or sell shares (unlimited liquidity)
  • Prices adjust automatically based on trading activity
  • Large trades have more price impact than small trades
  • Prices always sum to approximately 100%

Is there a trading fee?

Yes, there's a 2% fee on all trades. This fee goes into the market's treasury and helps ensure the market maker can cover payouts.

How do I get on the leaderboard?

The leaderboard ranks traders by profit - the difference between your current balance and the initial 10,000 tOWAI everyone starts with.

Make accurate predictions, time your trades well, and claim your daily faucet to climb the rankings!

Have more questions? Open an issue on GitHub