The Farmers Market

Nado

Perp DEX Confirmed $$$

Vertically-integrated orderbook DEX on Ink L2 with unified perps, spot, and margin lending powered by an off-chain sequencer and on-chain settlement

Start Farming Nado — Skip WaitlistView on DashboardFollow on 𝕏

Farming Overview

Farming Stage Very Early
Chain Ink (Kraken L2)
24h Volume $418M+
TVL $54M+
Matching Speed 5-15ms
Status Closed Alpha

Key Statistics

Team & Backing Kraken core contributors — no external raise disclosed
TVL $54.57M
30d Perp Volume $15.31B
All-Time Volume $40.48B
30d Fees $3.17M
Matching Speed 5-15ms
Status Closed Alpha (Waitlist)

How to Farm Nado

  1. ⚠️ Currently in Closed Alpha — join the waitlist to get access
  2. Trade perpetual futures to earn Nado Points
  3. Provide liquidity to the NLP vault for passive fee exposure
  4. Trade spot markets (USDT0, kBTC, wETH, USDC supported)
  5. Nado Points expected to convert to tokens at TGE (details TBD)

Why Farm Nado?

  • Very early stage — Closed Alpha access
  • Built by former Kraken engineers on Kraken's own L2 (Ink)
  • Nado Points expected to convert to tokens at TGE (token details not yet confirmed)
  • Strong metrics: $54M TVL, $15B+ monthly volume
  • 50x TVL growth in ~3 months
  • Potential to become the primary perp venue across the Superchain

About Nado

Nado is a vertically-integrated decentralized exchange for spot and perpetual futures built on Ink, Kraken's L2. It features an off-chain sequencer and on-chain settlement, delivering a high-performance CLOB experience where trades execute in 5-15 milliseconds. The platform unifies perps, spot, and margin lending under a single margin engine, with deep liquidity powered by the NLP (Nado Liquidity Provider) vault. Built by former Kraken engineers, Nado is designed as the central liquidity layer for the Ink ecosystem.

Access Requirements

  • Currently in Closed Alpha — waitlist required to begin trading
  • Early access users earn Nado Points for platform activity
  • Nado has airdropped official NFTs to early alpha participants

NLP Vault

  • Deposit USDT0 to provide liquidity passively
  • Capital is routed into market-making and liquidation strategies
  • LPs earn trading and liquidation fees
  • Deeper order books benefit all traders with lower slippage

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Frequently Asked Questions

What is Nado and how does it work?

Nado is a vertically-integrated decentralized exchange for spot and perpetual futures built on Ink, Kraken's L2. It features an off-chain sequencer and on-chain settlement, delivering a high-performance CLOB experience where trades execute in 5-15 milliseconds. The platform unifies perps, spot, and margin lending under a single margin engine, with deep liquidity powered by the NLP (Nado Liquidity Provider) vault. Built by former Kraken engineers, Nado is designed as the central liquidity layer for the Ink ecosystem.

How do I farm the Nado airdrop?

To farm the Nado airdrop, you should: ⚠️ Currently in Closed Alpha — join the waitlist to get access. Trade perpetual futures to earn Nado Points. Provide liquidity to the NLP vault for passive fee exposure. Trade spot markets (USDT0, kBTC, wETH, USDC supported). Nado is currently in the very early farming stage with confirmed airdrop status.

What is the expected value of the Nado airdrop?

The Nado airdrop has an expected value rating of 3 out of 5 ($$$). The farming stage is very early and the airdrop status is confirmed. Expected value ratings on The Farmers Market consider factors like protocol TVL, funding, team quality, and token economics.

Why should I farm Nado?

Very early stage — Closed Alpha access Built by former Kraken engineers on Kraken's own L2 (Ink) Nado Points expected to convert to tokens at TGE (token details not yet confirmed)