what's Nado?
Nado is an orderbook decentralized exchange (DEX) built on the Ink Layer 2 network. It fuses centralized exchange speeds, achieving 5-15ms latency in its matching engine, with DeFi's self-custodial security. Traders can access spot and perpetual futures markets through a unified cross-margin system that optimizes capital efficiency and provides deep liquidity. Developed by the team that built Kraken, Nado emphasizes on-chain execution with CEX-like performance, enabling seamless trading while maintaining user control over funds.
Nado listed PENGU token for trading.
Links
x.com/nadohqListed PENGU token for trading.
TVL trending upward across 1-day, 7-day, and 1-month timeframes
Described as looking decent but needing time to gain traction, characterized as a "chicken or egg situation" for adoption.
Added new perpetual trading pairs for XMR, XAUT, SUI, TAO, PUMP, and AAVE with unified margin, multiple collateral support, and up to 10x leverage.
Offers approximately 20 trading pairs, mostly major assets, on the perpetuals DEX.
During Private Alpha, the DEX achieves $19.7M TVL, $500M in daily volume, approximately $100K in daily fees, with over 1,300 unique users.
Listed among trending projects in the last 7 days according to KaitoAI smart following data.
Spreads, a DeFi protocol offering USDC vaults for market-neutral perp exposure, mentions nadoHQ as one of the non-token perp markets integrated into their vault system for passive yield and points farming strategies.
The platform achieves $1B in perpetual futures trading volume in just 10 days on the Ink chain.
The team behind the project previously worked on Kraken and deployed INK.
Kraken has an equity bid in the project.
NLP vault enables users to deposit liquidity that can also be used as trading margin, with plans to increase vault capacity limits.
Alpha users receive automatic ETH airdrops upon wallet connection to cover gas fees for bridging funds to Ink.
Multi-chain bridging capability powered by LiFi Protocol allows users to bridge in from multiple chains onto the perpetual DEX.
A trader announces taking a short position on the project as a hedge, comparing the trade confidence to shorting Bitcoin at $107k.
An IPO is coming up, with current opportunities to farm points in the private alpha.
Private alpha version is now live with invited users who have access to farming opportunities.
Alpha testing phase for trading is currently live with an active points farming system for participants.
Team previously built Kraken exchange and has deployed a unified margin DEX on Ink chain supporting spot, margin, and perpetual trading.
The project is part of the Ink platform ecosystem with multiple products going live, positioning it as one component of a larger development initiative.