Nado airdrop

What to do, in order

1. 1

   Step 1

   Bridge USDT0 to the Ink L2 following the Nado onboarding guide, then connect a wallet to Nado

2. 2

   Step 2

   Deposit collateral; since Season 2 there is no invite code or waitlist requirement

3. 3

   Step 3

   Trade spot or perpetual markets, or deposit into the Nado Liquidity Provider (NLP) vault

4. 4

   Step 4

   Track weekly allocations, history and your Trader Tier on the Points page in the Nado app

Where things stand

Nado is a central limit order book exchange for spot and perpetuals built on Ink, an Ethereum layer 2. Its docs describe an off-chain sequencer that matches orders and settles them on Ink in batches, with USDT0 as the quote and collateral asset. The docs also mention backing from the team behind Kraken.

Points are Nado's only reward mechanism with published rules. Season 1 ran from January 30 to May 21, 2026, and by the end of that season 24,941,776 points had been distributed across Private Alpha, an off-season period and Season 1. Season 2 began on May 21, 2026, removed the invite-code requirement, and changed the weekly emission so it scales with trading volume.

The docs state that points are non-transferable and cannot be traded, but they do not mention a Nado token, a conversion ratio or a snapshot. The developer section does include an API query that returns an Ink token airdrop amount for a wallet address. The user-facing docs we opened do not explain the terms behind that figure. We therefore list Nado as potential and do not treat any Ink token figure as confirmed.

How Season 2 points work

Each week starts with a guaranteed pool of 300,000 points. As protocol volume increases, more points are added to that week's pool, up to a maximum of 950,000. Your share of the pool is calculated separately from the pool size, based on your trading activity relative to everyone else, with adjustments for fee tier and what the docs call toxicity. In Season 1 the docs also listed market making, liquidations and NLP deposits as point sources, with NLP points based on the average share of the vault held during each weekly epoch.

Balances, Trader Tier history, NFT multipliers and existing account links all carried over from Season 1. Trader Tiers, ranging from Breeze to Tornado, are a weekly classification based on points ranking. Holders of the Templars of the Storm NFT, a 1,200-piece collection given to top early users, receive a points multiplier and an automatic fee tier.

Nado also runs xPoints quests for xStocks, the tokenized stock products. Holding xStocks on Nado gives a 25% boost to xPoints earned from those holdings, and trading them gives a separate boost of up to 30%. These xPoints belong to the xStocks program, not to Nado points.

• Weekly epochs; the pool floor is 300,000 points and the cap is 950,000.
• The individual share depends on relative trading activity, fee tier and order-flow quality.
• Points are non-transferable and shown in the app.

Anti-farming rules and risks

The Season 1 rules state that non-organic behaviour, including wash trading and self-matching, is prohibited and can result in a reduced or zero allocation for a weekly epoch. The Season 2 page adds a toxicity adjustment to the share calculation. Nado does not publish its detection methods, so farming strategies that look mechanical carry a real risk of earning nothing.

Trading costs are concrete while any future reward is not. Taker fees start at 3.5 bps, withdrawals carry a flat sequencer fee, and during congestion withdrawals can queue for up to about 30 minutes, according to the fee page. Leveraged positions can be liquidated, and the NLP vault is exposed to trading and liquidation outcomes.

Several unofficial guides make claims about Nado points converting into a specific token. Those claims are not in the official docs. Use only the app link from docs.nado.xyz, never share a seed phrase, and be wary of any page that asks you to claim a Nado token.

What to take from this drop

Nado publishes clear points mechanics, a running total and open access, which makes it easy to participate. The missing piece is any statement about what points will be worth, so the value of a point cannot be estimated from official sources.

Some costs are easy to overlook. Deposits carry no sequencer fee, but withdrawals cost 1 USDT0 (or 0.0006 wETH or 0.00004 kBTC), standard subaccount transfers cost 1 USDT0, and taker orders smaller than a market's minimum size are charged as if they were the minimum size. Fee tiers are based on 30-day maker plus taker volume and reset monthly, with taker fees falling to 1.5 bps and maker rebates reaching 0.8 bps at the top tier. Small accounts that trade often should factor the minimum taker fee into any plan.

If you already trade on Ink or want an order book venue with maker rebates at higher tiers, points are a reasonable extra. If you would only trade to collect points, weigh the guaranteed fee and funding costs against an unannounced reward. We will update this page when Nado publishes token or Season 2 end-date details.