Nado
B Tier✓ TOKEN CONFIRMED
LATEST UPDATE · OCTOBER 27, 2026
Season 2 ongoing. docs.nado.xyz now documents an ink_airdrop API returning per-wallet INK allocations (no timing given). Ink's own token has no date; Polymarket gives 19% odds of INK by end-2026.The numbers
Expected FDV
$300m
$100m – $1b
Airdrop pool
$6m
~2% of INK to Nado farmers, assumed
Team score
8/10
founders, exits, backers, flags
Token window
INK TGE slipped from Q3 to Q4 2026 or later
points live 9 months; token talk for 16
$10m$100m$1b$10b
How we got the FDV: This is INK's FDV, not Nado's: Nado farmers get a slice of Kraken's L2 token. Polymarket's ladder implies under $100m today; mid-tier L2 comps say more. We split the difference.
Finish positions, don't start fresh at scale: Nado's own docs now expose per-wallet INK allocations, which implies the snapshot is done or near.
Ex-Vertex team, Kraken distribution, open access and a confirmed path into INK. But open interest is down 19% in 30 days, Ink sybil flags are circulating, and the farmer slice of INK is small. Season 2 still pays a weekly USDT0 pool, so the carry is not zero.
Cut it if: another month of open interest decline, or INK launches under $100m FDV.
Who's farming it: On every 'after Lighter' list (Karamata, DukeD, fiyalkin). sushi_wife: 'points target unclear' (Oct 23). OTC points $0.40–0.50.
What would it pay?
Your weekly volume ($)
Weeks you farm (≈10 left)
Share to users (%)
FDV at launch ($m)
FDV presets:
Points you'd earn
641
0.002% of 30M total
Airdrop value
$128
at $300m FDV, 2% to users
Fees you'd pay
$500
2 bps on $2.50m of volume; funding and slippage extra
Net, and per $1m
$-372
≈ $51 of airdrop per $1m of volume
Assumptions: 300k-950k points a week scaled by volume; ~$2.3b weekly volume ≈ $3.9k per point; points convert to INK at an unpublished ratio, so the FDV here is INK's and the share is the assumed farmer slice. Your points are divided by the total expected at TGE, so later entrants are diluted. Cut the result by ~25% for the usual post-launch drawdown. Estimates, not quotes.
What is Nado?
The perpetuals exchange on Ink, Kraken's L2, built by the Vertex team (Darius Tabatabai, ex-Merrill global head of metals trading, and Alwin Peng, ex-Jump). Nado has no token of its own; its points convert into INK at Kraken's TGE. Season 2 since May 21, 2026 removed invites, scales the weekly pool with volume, zeroes wash trades and pays up to $100k a week in USDT0.
Airdrop parameters
POINTS / CLAIM END
INK late 2026 or 2027
ALLOCATION
Points convert to INK at TGE; formula unpublished. ~2% of INK assumed
METHOD
Weekly volume-scaled pool, toxicity-adjusted; NLP vault deposits also earn
TGE
INK: Q4 2026 or later (slipped from Q3)
ACCESS
Open, no code, no KYC. US and Canada are view-only. Min deposit $5. Margin in USDT0; USDC, wETH, kBTC and xStocks accepted as collateral. Everything is bridged to Ink first.
CHAIN
Ink
How to farm
01
Bridge USDT0 to Ink and deposit (non-US)
Official bridge, Relay or Rhino; connect at app.nado.xyz; minimum $5.
02
Rest maker orders in the majors
1 bps maker. Points are toxicity-adjusted, so passive two-sided flow beats taker churn. Wash trades are zeroed for the epoch.
03
Park idle margin in the NLP vault
Time-weighted vault share earns points and a cut of the weekly USDT0 pool with no directional risk.
04
Stack xPoints
Hold or trade xStocks on Nado for +25% / +30% xStocks points on top.
05
Check Fridays and the INK allocation endpoint
Snapshots Thursday, distribution Friday. Nado docs expose an ink_airdrop query per wallet; if your allocation is already fixed, extra volume is wasted.