What is Narwhal Finance? Narwhal Finance is a Perpetual platform that is expected to explode in the future similar to dYdX, GMX or Perpetual. So, if there’s anything interesting about Narwhal Finance, let’s find out in the article below.
And to better understand Narwhal Finance, people can refer to a number of projects with similar operating models including:
- What is Perpetual Trading? Top 4 DEXs Leading in the Perpetual Array
- What is GMX (GMX)? Overview of GMX Cryptocurrency
- ZKX Protocol – The First Perpetual Platform on the StarkNet Ecosystem
- What is dYdX? dYdX Cryptocurrency Overview
- What is Gains Network (GNS)? Gains Network Cryptocurrency Overview
What is Narwhal Finance?
Overview of Narwhal Finance
Narwhal Finance is a decentralized Perpetual platform built on the BNB Chain & Arbitrum ecosystem. Similar to other DeFi protocols, Narwhal Finance does not require users to KYC, everyone in the world can participate in using the product.
Unlike Gains Network, which is built around stablecoin DAI, Narwhal Finance is built around the core asset, stablecoin USDT.
Narwhal Finance’s operating mechanism
USDT will be selected as collateral on the Narwhal Finance platform. This means that no matter what type of asset you are Long or Short like BTC, ETH, UNI, LINK,… you need to have USDT as collateral.
Similar to many Perpetual platforms, Narwhal Finance has the following 3 main activities:
- Opening a position: Open leverage order.
- While a position is open: While push order is opened.
- Closing a position: Close leverage order.
Development Roadmap
Update…
Core Team
Update…
Investor
March 24, 2023: Narwhal Finance successfully raised $1M in Seed round with the lead of Animoca Ventures and the participation of Hailstone Ventures and many Angel Investors.
Tokenomics
Update…
Information Channel of Narwhal Finance
- Website: https://narwhal.finance/
- Document: https://docs.narwhal.finance/
- Telegram: https://t.me/Narwhal_Finance
- Medium: https://medium.com/@Narwhal_Finance
- Discord:
Summary
Narwhal Finance is a potential Perpetual platform in the near future. However, the project is still in product development and requires regular monitoring.