Harum93: Narwhalswap : The DeFi on Binance Smart Chain with Sustainability

In my article this time, I will provide an explanation of the NARWHALSWAP project that will harness the tremendous potential of blockchain technology to create a large platform with a diverse community of people and companies working together to develop great ideas and solutions into a successful business. For more details, let's see with my article

Narwhalswap is building a platform that will help to expand the DeFi ecosystem on the Binance Smart Chain (BSC), which is one of the most powerful blockchain at the moment.

All the Narwhalswap Pre-sales have been completed since 12TH OCTOBER 2020. The remaining unsold NAR tokens have been burned.

After hearing what Norwhalswap is building I know you will be curious to know,
What is Norwhalswap :
Narwhalswap is A Market Maker (AMM) protocol built on the Binance Smart Chain (BSC),which aims at expanding DeFi projects on the Binance Smart Chain to help overcome the barriers and make BSC the world of DeFi.

Why Narwhalswap?
Recently DeFi, yield farming and AMM (e.g Uniswap) has become the talk of the town in the crypto sphere, which has seen DeFi raise about $6.4Bn of assets in the system (probably up from $2.5Bn in the last 60 days), and as each day goes by, there are alot of new interesting projects emerging, one of the most common genre of this projects are AMM plus Yield farming Models.

A Market Maker(AMM) is just about depositing a token pair in a Liquidity pool then the trader will receive a percentage fees from the transactions made in the pool,
While Yield farming just about holding cryptocurrencies and getting a rewards for it.
But we've gone past that level, and currently the most popular models is usually a combination of AMM + Yield Farming.

This models makes the staking of a token pool’s Liquidity Pair token which in turn, gives the trader even more rewards. This staking of Liquidity pair tokens to earn rewards is also known as Liquidity Mining.‌

Lately, a lot of new projects in the Binance Smart Chain network provide the ability to stake popular token pairs such as BNB/BUSD, since it's becoming more popular each day, it creates a higher demand as traders look around for project’s with unique Liquidity pair tokens to farm rewards with high yields.This is the main reason why the Binance Smart Chain (BSC) is filled with so many AMM projects at the moment.

The Problem :
In as much as the AMM + Yield farming model is the used model currently, there is a set back to this popular model.

Some of these projects follow a model which allows unlimited minting of tokens, and we know the laws of demand and supply which states that when demand becomes less than the quantity been supplied, deflation occurs, for this reason their liquidity mining will become unsustainable in the long run.‌

Solutions :
In other to solve this problems and move towards sustainability, Narwhalswap has created a protocol to optimize the system.
Narwhalswap provides liquidity mining that takes full staking opportunities of other Binance Smart Chain projects in the network and will continually invite more projects to join their efforts.

The protocol which Narwhalswap operates on will allow staking of other project’s tokens possible, which will provide the traders with an NLP token (the representation of our Narwhalsap token). With this NLP token, you will be able to earn NAR tokens as well as the use of rNLP tokens for liquidity mining in other quality projects of the Binance Smart Chain (BSC) network.

With this fresh approach, Norwhalswap will be assisting other projects to have the freedom to grow their own token without the burden of creating and sustaining their own swap on the BSC network.
Narwhalswap aims to offer not just good yield, but also a sustainable HODL for investments. That is how they landed on an approach and they are proud to share as the Narwhal Protocol Token (NAR).
So next we are going to talk about the Narwhalswap token "NAR" and what makes it unique and good to hodl.

NAR token
NAR is the governance and equity token of the Narwhalswap ecosystem.
Majority of the NAR token would be minted by liquidity mining. And as time goes on as the project keeps growing, users holding NAR can participate in community proposals and decisions, as well as receive dividends as the project expands.

Token Utility :
Currently narwhalswap is running on the V1, but after the Narwhalswap V2 launch, narwhal team will implement pay fee as a NAR instead of Native token in each pool. When a user trade on Narwhalswap, 0.3% of all trading fee will be convert back (through Narwhalswap) to NAR and go directly to the active liquidity providers.

Conclusion
The narwhal team wants to solve the current problem of sustainability in the DeFi project now, so many token projects have a very short lifespan and sooner or later they fade away. Narwhal team has looked into several approaches and designs that aims to attract not just different levels of individual investors but also DeFi projects.

Token Metrics
The maximum supply of NAR tokens will be capped at 21,000,000 NAR.
Here's how it's going to be allocated by the Narwhal team.

NAR Distribution :
525,000 NAR (2.5%) : will be allocated to Team Developers, Community Supporters for contributions to the project in the long run.
This allocated amount is locked at 2.5% of the circulating supply. The narwhal dev team also will not be able withdraw more than 2.5% of the circulating supply at any time.

787,000 NAR (3.75%) : is allocated for distribution into DAO for future community initiatives. This allocated amount will be used as a resource for upcoming community proposals and decisions when that feature is released. Be it new suggested features or even competitions or campaigns, the narwhal devs team wants this amount to be allocated so that they can support the community with it.

1,575,000 NAR (7.5%) is allocated for Pre-Sales & Whitelisted Pre-Sales. This allocated amount is used to raise funds for the initial adding to liquidity for NAR.
Sold: 478,001.3217240 NAR (at time of sale value: 2,333.341343BNB)
Unsold: 1,096,998.6782760 NAR has been burned.

1,102,500 NAR (5.25%): was allocated for the initial liquidity of NAR on Narwhalswap at first, but later they decided to inserted liquidity: 236,250 NAR and then,
Burned: 866,250 NAR

210,000 NAR (1%): will be allocated for airdrop programs, and to help grow the community, the narwhal team will be using this allocated for bounty and community campaigns.

16,800,000 NAR (80%): These remaining tokens make up the allocation intended to be distributed to liquidity providers.