Nado
NewUnauditedHigh RiskNado is a unified spot + perpetual DEX on Ink (Kraken's L2), running an off-chain CLOB sequencer with on-chain settlement, built by the former Vertex Protocol team.
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The Problem
On-chain perpetual futures historically suffer from poor execution quality, fragmented spot + perp + margin accounts, and either custody risk (CEX) or slow settlement (L1 DEX).
The Solution
Nado runs an off-chain CLOB sequencer with 5–15 ms matching and on-chain settlement on Ink, plus a unified-margin account that lets one USDC pool back spot, margin, and perp positions simultaneously.
Why it Matters
Inherits the Vertex Protocol team's battle-tested CLOB engine (>$135B cumulative volume, no documented exploits) onto Kraken's Ink L2 — combining CEX-grade execution with tight chain-level integration and a Kraken-operated bridge.
Protocol Metrics
Related Research
View allFrequently asked questions about Nado
What is Nado?+
Nado is a DEX protocol operating on Ink. Nado is a unified spot + perpetual DEX on Ink (Kraken's L2), running an off-chain CLOB sequencer with on-chain settlement, built by the former Vertex Protocol team.
How does Nado work?+
Nado runs an off-chain CLOB sequencer with 5–15 ms matching and on-chain settlement on Ink, plus a unified-margin account that lets one USDC pool back spot, margin, and perp positions simultaneously.
Is Nado safe?+
DeFi Sentinel rates Nado BBB with a safety score of 66/100, indicating moderate risk. The score reflects five risk dimensions: smart contract & technical risk, economic design & market risk, governance & centralization, sustainability & competitive position, and reputation & social trust. Nado has 1 audit on record. DeFi Sentinel's analysis flagged 3 high, 4 medium, 4 low risk alerts across Smart Contract & Technical Risk, Economic Design & Market Risk, Governance & Centralization, Sustainability & Competitive Position and Reputation & Social Trust. As with all DeFi protocols, residual risk remains and users should review the full risk breakdown before depositing.
What is the safety score of Nado?+
Nado has a DeFi Sentinel safety score of 66/100 (rating BBB), last updated September 17, 2026. The score is computed across smart contract & technical risk (30%), economic design & market risk (25%), governance & centralization (20%), sustainability & competitive position (15%), and reputation & social trust (10%).
Which chains does Nado support?+
Nado is deployed on Ink.
Has Nado been audited?+
Yes. Nado has 1 audit report on record from firms including OtterSec. Audit reports and dates are linked under the Resources tab on this page.