Narwhal Finance
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  • πŸ‘‹Introduction to Narwhal
  • πŸ«‚Referrals
  • πŸ“šGlossary
  • πŸ¦„Using Narwhal
    • Connect Wallet
    • Alternative RPCs
    • Trading
      • Opening trades
      • Managing Trades
      • Closing Trades
    • Staking
      • NLP Pool
      • NAR & esNAR Staking
      • esNAR Vesting
      • Claiming Rewards
    • Brand Assets
    • Risks
  • 🎲Carnival
    • Carnival Games
    • Descriptions
    • Game Responsibly
  • βš™οΈPerpetual Trading
    • Overview
      • Lifecycle of a Trade
      • Keepers
    • Risk Management
    • Assets
    • Fees and Spread
  • πŸͺ™Tokenomics
    • Liquidity Pools
  • πŸ‘¨β€πŸ’»Devs
    • Contracts
    • Security
    • Bug Bounty Program
    • Setting up a Keeper
  • πŸ”—Links
    • Twitter
    • Website
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  • Liquidity Source
  • Oracle
  1. Perpetual Trading

Overview

Discover all about Narwhal - How we make trading effortless and frictionless.

PreviousGame ResponsiblyNextLifecycle of a Trade

Last updated 1 year ago

Narwhal offers a distinctive trading experience with synthetic leverage and no order books or liquidity for each pair. The PnL calculation occurs in smart contracts and is settled against NLP for a secure, transparent process. This streamlines trading and provides a unique opportunity for leverage-based trading.

  1. Available order types: Market Order, Limit Order, Stop Market Order

  2. Collateral: USDT will be the only accepting collateral and the maximum amount a trader risks if liquidated; collateral x leverage must be above the minimum position size.

  3. Liquidation: A trade will be liquidated if it is at <= -90% PnL

  4. Stop Loss: Not obligated to select; bounded from below by the liquidation rule. Note that liquidations work similar to stop losses, and your position will be liquidated at <= -90% PnL

  5. Take Profit: Max profit on a trade is 900% PnL, so if no take profit levels are set, the system will default take profit at +900% PnL.

  6. Slippage: depending on the user’s choice. If execution price > slippage tolerance, the trade will not be executed.

  7. Leverage: maximum leverage varying by asset type

  8. Pairs: Crypto + Forex

Liquidity Source

The Narwhal LP (NLP) is a comprehensive solution for leverage trading. The cost for minting and redemption is calculated based on the equation:

(USDT balance + cumulative PnL of traders + accrued fees) / outstanding NLP.

As NLP holders supply liquidity to support leveraged trading, they will experience a financial advantage corresponding to the performance of traders, resulting in profit when the traders incur losses, and vice versa.

Oracle

Narwhal utilizes the Pyth to provide up-to-date and accurate token prices data.

Pyth collects market data from over 70 top publishers, including some of the biggest exchanges and market making firms in the world like Binance. Our prices update multiple times per second, providing a reliable and robust aggregate of publisher prices.

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