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Home All Events - Ape O'Clock Narwhale Beta Launch

Date

Jul 24 2023
Expired!

TimeUTC

4:00 am

Your Time

  • Timezone: America/New_York
  • Date: Jul 24 2023
  • Time: 12:00 am

Status

Active

Narwhale Beta Launch

July 23 update – Announcements say the beta will begin at 4am UTC on July 24.

Trade to Earn program for users to earn token rewards from trading on the Narwhale platform; a perpetual trading exchange.

The launch time has not been announced only that is scheduled for July 24. This time is a placeholder.

DETAILS
  • Launch Details
    • For the first 2 weeks, users can earn a share of 160,000 native $NAR token (not launched yet) rewards weekly. Afterward, rewards will reduce to 80,000 NAR per week
    • To participate, trade on Narwhal and rewards will automatically accumulate
    • When the $NAR token launches, you’ll receive your accumulated rewards via an airdrop
    • There will be two distinct rewards – a Daily Prize Pool distributed based on trading volume, and a Daily Trading Target for fixed rewards. Both rewards will be retroactively distributed after token launch
    • $NLP (Liquidity providers) stakers will also earn yield from all the trades. There is a 3 million TVL staking hardcap per chain
  • Mechanics & Features
    • Narwhale is a perpetual trading platform where users can leverage trade crypto & forex assets
    • Supports Market Order, Limit Order, Stop Market Order order types
    • All positions are margined in USDT
    • A trade will be liquidated if it is at less than or equal to -90% PnL
    • Max profit on a trade is 900% PnL
    • Dual token system;
      • $NAR is the utility and governance token
      • $NLP is the liquidity token
    • $NAR can be staked to receive esNAR (escrowed NAR) and a share of 30% of platform fees
    • Escrowed NAR (esNAR) tokens can be converted into NAR tokens via a 1-year vesting period
    • $NLP can be staked to receive share of 60% of platform fees and esNAR emissions
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