🧵 Thinking of farming the next big crypto airdrop ?
Let me introduce you to @extendedapp :
A promising PerpDEX flying under the radar with serious upside potential.
I’ve written 4 key articles to help you farm it safely and effectively.
Let’s break it down 👇
I really like the direction @nadoHQ is taking with its product
From a trader’s perspective, it offers a solid experience with vault tokenization, spot markets that can be used as collateral, and good liquidity
From a farmer’s perspective, it’s one of the most successful applications built on INK, Kraken’s Layer 2
Kraken is one of the most established exchanges in the industry and has not exactly hidden its intention to launch a token
That doesn’t mean everything is perfect. I still think there are areas that could be improved, such as fees and the lack of markets
That said, the team is clearly building toward that.
Excited for what’s next.
Week 18 of @01Exchange points is out. I earned 160 points with around 30k volume and a negative PnL
I also finally crossed the 1,000 points milestone 🥳
Week 19 marks the start of the Public Mainnet Beta phase, which will last 12 weeks and distribute 156,250 points per week
That represents a 47.37% reduction compared to the Public Mainnet Alpha phase
I’ll continue for at least another week to see whether it remains worth farming ✍️
Yep, I agree with that one. Safety comes first, especially for those who are active on-chain.
@RevokeCash is a great tool for revoking wallet permissions.
With AI progressing, it could also become an interesting short idea as a hedge against DeFi tokens like AAVE or CRV.
Just a thought.
To respond to your original claims :
- We’ve already listed SpaceX pre-market markets, and we’re building the infrastructure that will enable fast, large-scale listings.
- That’s not correct. We’ve already launched cross-asset unified margin, allowing users to deposit wBTC, wETH, and USDT as collateral, alongside a lending and borrowing market, as shown in the screenshot shared by Darsey.
We also upgraded the oracle infrastructure for TradFi markets with @redstone_defi.
Email sign-ups are now enabled, making Extended more accessible to users who are not familiar with crypto.
- More information regarding the TGE will be shared after the release of the core product updates scheduled for this month, as mentioned in the post below.
A lot of what’s being built is happening behind the scenes and under NDA.
From the outside, it may seem like not much is happening, but we’ll soon start seeing the results of those efforts.
@kjk355056243916@extendedapp I can assure you that what’s on the roadmap for Extended has never been done before, largely because of one thing Extended excels at :
Regulation and compliance
I see a lot of FUD around @extendedapp regarding product delays and the perceived lack of announcements, especially compared to other perp DEXs.
Building a regulatory framework alongside TradFi fintech companies takes time.
It involves extensive legal work, compliance requirements, and NDAs, which means many developments cannot be publicly discussed until everything is finalized.
Going through this process now will be a major advantage for future integrations with other fintech platforms 👀
What’s coming this month has the potential to make Extended one of the best venues for traders
One margin for all markets.
Expecting more.
6 months of building. what's next?
TLDR: We focused on putting in place the product, partnership and governance foundations for the next phase of Extended. TradFi partnership, hundreds of new crypto and RWA markets, spot trading and further decentralisation are coming. Our approach to growth remains unchanged: no KOL round, no paid promotions, no paid PR, no podcast sponsorships and no paid market-making arrangements.
Over the past 6 months, the team at @extendedapp has been focused on a fairly simple objective: building the product, infrastructure and partnerships required to support the next stage of growth.
A lot of the work happened behind the scenes but we are now getting to the point where the pieces are starting to come together.
Product
Some of the key items are already live:
- Multi-asset collateral, allowing users to post wBTC, ETH and USDT alongside USDC. Besides expanding the collateral universe, it also unlocks simple cash-and-carry strategies directly on the platform.
- Full email onboarding, including gasless deposits and withdrawals. While not particularly exciting on its own, it unlocks fiat on/off-ramp integrations that are required to onboard non-native users.
- Significant improvements to UI stability, responsiveness and overall user experience, driven largely by user feedback collected over the past months.
Several important pieces are coming next:
- Spot trading, which we view as a table-stakes component of a complete exchange experience and an important UX improvement to multi-asset collateral.
- Opening up our lending infrastructure beyond the exchange itself, allowing users to deposit wBTC, ETH and USDT, borrow USDC and deploy capital elsewhere.
- New trading infrastructure that will unlock hundreds of additional crypto and RWA markets. Internally, this is the product initiative we are most excited about.
Growth
Over the same period, we have spent a lot of time thinking about how Extended should grow.
One principle remains unchanged: we do not pay for KOL promotions, PR, podcast sponsorships or market-making arrangements. This applies equally to cash, tokens and points.
Its a slower path and not the easiest one but over time we have become increasingly convinced that sustainable growth is built on product quality, distribution and community rather than financial incentives.
We have also completed a number of less visible but equally important initiatives:
- Finalised the legal and commercial framework for our first tradfi partnership, which unlocks some of the product initiatives mentioned above and establishes a foundation for future institutional integrations.
- Secured the majority of the long-term partners who will help operate, secure and govern Extended. We are proud of the quality of the organisations that chose to support the vision and will be sharing more details separately.
- Spent considerable time with our largest users and major ecosystem participants to gather feedback and ensure alignment around the long-term direction of the protocol.
- Remained committed to our original targets for early community rewards, despite certain things taking longer than anticipated.
This month is an important one for Extended. It will conclude the team's efforts over the past 6 months and mark the beginning of the next phase: further decentralisation, ecosystem expansion and the transition to a community-owned protocol.
@kjk355056243916@extendedapp I understand the concern, and so does the team. That’s why the CEO made a post on Discord explaining the current timeline and the reasoning behind it.
Not sure the R/R is that attractive on @nadoHQ right now if you're purely focused on farming
With fewer points being distributed, it's becoming harder to justify the strategy on points alone
However, for funding farming, it's still worth considering
The vault is also a very solid stable-yield opportunity. It's currently capped at $10M, but that limit should be increased soon.
NFT holders should get priority access, and holding one could end up being an airdrop criterion for those who want exposure to Nado without actively farming points.
NFTs already provide several perks :
- Points multipliers
- Fee discounts
- A special Discord role
Nado S2 and points calculations
I have to admit I was pretty surprised and skeptical at first, but the details make me very bullish for points holders.
What’s coming to @nadoHQ :
Open access for everyone without an invite code
A trading competition rewarding volume and ROI with a $100k prize pool
Real-world assets as collateral
Fiat on/off-ramp deposits
A new points distribution mechanism
Starting now, the number of points distributed each epoch depends on the average daily volume during that epoch:
Minimum: 300k points
Maximum: 950k points if volume exceeds $2B
Time for some calculations:
Over the last 4 months, the average daily volume during each epoch was around $300M. Let’s add 50% to account for higher activity growth.
$450M average daily volume = 370k points distributed per week.
With the launch of $INK expected by the end of the year:
End of Q3: 370k × 18 = 6.6M points
End of Q4 : 370k x 32 = 11.84M points
With 24,941,776 points already distributed during S1 and 2M set aside for builder codes and competitions, that would bring the totals to :
End of Q3 : 33,541,776 points
End of Q4 : 38,781,776 points
Assuming 5% of the total $INK supply is allocated to Nado.
Start earning points :
https://t.co/KLsLSsqB5B
@kjk355056243916@extendedapp The team has reached out to users who left. Most of them agree that the platform is great, but given current market conditions, they needed to rebalance their portfolios
Look at the volume, it tells a different story.
Introducing pump fun GO: Pay ANYONE to do ANYTHING
Create & complete bounties for ANY task and leverage the power of humans & money across the globe
The world is at your fingertips. It’s time to GO 👇