Narwhale Beta Launch

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

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