NFT Airdrop to Early Supporters
Nado, a perpetual derivatives exchange built on Ink, just distributed its official NFT collection to early users. The platform, which operates on Kraken’s Ethereum Layer 2 network, called the drop “Templars of the Storm.” It went to people who were active during the pre-alpha phase.
What’s interesting is that these users had a choice. They could either take Ink points or go for the NFT. The points will eventually convert to $INK tokens when the blockchain does its token generation event. But some decided the NFT was worth more to them.
Right now, the floor price sits at 0.45 ETH, which is about $1,200. That’s not insignificant, especially for something that just launched. I think it shows there’s some genuine interest, not just speculative flipping.
Trading Volume and Market Position
Since the launch, the collection has moved 141 ETH in trading volume. That’s roughly $385,000. It actually made it the second most traded NFT collection over the last day, which surprised me a bit. Only Pudgy Penguins did better with 250 ETH.
But here’s the thing—while the NFTs are getting attention, Nado itself isn’t exactly dominating the perpetual DEX space. Over the last 24 hours, it processed $828 million in volume. That sounds like a lot until you compare it to Hyperliquid, which did $14.5 billion. So there’s a gap there.
Maybe the NFT strategy is about building community rather than immediate trading dominance. It feels like they’re trying to create loyal users who stick around.
Ink Ecosystem Growth
Ink itself is growing pretty fast. The total value locked on the chain doubled since late November. It hit an all-time high of $570 million on January 15th. That’s substantial growth in a relatively short time.
The points system is worth mentioning too. Ink distributes points to dApps first, then those dApps pass them along to users. It’s a way to reward activity before the actual token launches. Nado is part of that ecosystem, so their users are getting exposure to both the NFT and the points.
Platform Development and Competition
Right after the NFT launch, Nado started what they’re calling Open Beta Season 1. They’re rewarding users for providing liquidity and trading. The twist is that NFT holders get point multipliers and fee reduction tiers.
So if you have one of these Templars of the Storm NFTs, your rewards get boosted. It creates an incentive to hold rather than just flip immediately. That could help with retention, which perpetual DEXs often struggle with.
Still, breaking into the top 10 perp DEXs won’t be easy. The space is crowded, and volumes are concentrated at the top. But perhaps the NFT approach gives Nado something different—a community element that pure trading platforms sometimes lack.
It’s early days, of course. The NFT trading volume is promising, but whether that translates to sustained platform growth remains to be seen. The Ink ecosystem’s expansion might help, giving Nado a larger potential user base to draw from.
