Order-book Perp DEX on Ink L2
Overview
Nado is a CLOB-based DEX offering spot, margin, perps and money markets on Ink L2, built by a team with Kraken/Ink backgrounds. It is tokenless with an active Open Beta Season 1 points campaign (started Jan 30, 2026) rewarding trading, vault participation and referrals, plus weekly USDT0 reward pools, though no official airdrop has been confirmed.
Analysis
Credibility comes from the team's background at Kraken and the Ink development team, which is a positive signal.
- The product is already live, combining spot, perp and money market trading.
- That said, funding details and investors remain unconfirmed, with no verified financial backing found.
- No token or TGE date has been announced, and points are not guaranteed to convert into a future token.
- There is a mention of a 25% xPoints boost for deposits, but official distribution rules remain unclear. Anyone considering joining should treat this as an early, speculative stage.
How to Participate
- Visit the official site (nado.xyz) and connect a wallet compatible with Ink L2.
- Deposit supported collateral, which reportedly earns a 25% xPoints boost.
- Trade spot or perpetuals and place maker orders to earn points during Season 1 (starting January 30, 2026). *Specific gas costs and time required on Ink L2 are not confirmed by official sources.
How to play it efficiently
- Early on, prioritize actual deposits and trading to accumulate points.
- Use any referral feature available for additional points.
- Since token issuance is unconfirmed, avoid committing large amounts of capital.
- Using multiple accounts to farm points (Sybil behavior) risks disqualification from any future airdrop.
Risks
- Perp trading carries liquidation risk and funding costs.
- There are technical risks related to Ink L2, smart contracts, and oracles.
- Some regions may face access restrictions.
- Fees are settled in $USDT0, covering both maker and taker sides.
- Points carry no guarantee of converting into a token or monetary value.
FAQ
Q. Does Nado have a token? No, there is currently no token, and no TGE date has been announced.
Q. Will points lead to a future airdrop? No official airdrop has been announced, and point conversion is not guaranteed.
What's next
The Season 1 points program is scheduled to begin on January 30, 2026. No official announcements have been made regarding future seasons or a token launch date.