Farming Nado after clearing $225K on Lighter airdrop. Built custom terminal to trade perps and stack points.
Core thesis: Points convert to $INK (Kraken ecosystem token). Day-1 listing via Kraken = actual liquidity, not typical low-float garbage. Real exchange backing matters for exit.
Jul-Aug onchain:
• Fees +71% to $1.2M
• Protocol revenue +53% to $751K
• Derivatives volume +95% to $6.3B
• Open interest ~$79M
• Cumulative volume ~$83B
Growth rate solid but still small scale. Risk is points-to-token conversion rate unknown and Kraken distribution mechanics unclear. Upside if $INK gets real maker support and doesn't dump on unlock.
Playing pre-TGE accumulation. Position sized for full loss if airdrop disappoints.
Core thesis: Points convert to $INK (Kraken ecosystem token). Day-1 listing via Kraken = actual liquidity, not typical low-float garbage. Real exchange backing matters for exit.
Jul-Aug onchain:
• Fees +71% to $1.2M
• Protocol revenue +53% to $751K
• Derivatives volume +95% to $6.3B
• Open interest ~$79M
• Cumulative volume ~$83B
Growth rate solid but still small scale. Risk is points-to-token conversion rate unknown and Kraken distribution mechanics unclear. Upside if $INK gets real maker support and doesn't dump on unlock.
Playing pre-TGE accumulation. Position sized for full loss if airdrop disappoints.
