Narwhalsap Protocol Builds A Sustainable Ecosystem For Future of DeFi

The Rise of DeFi
Decentralized finance, DeFi for short, is a highly promising application of blockchain technology, and it has enjoyed massive growth and support from investors, developers, and even some enterprises. The idea of being in total control of one's finances has made DeFi a honeypot. Despite the continued upthrust in investment flow and release of new financial primitives almost every passing day, DeFi is still a fledgling technology with tons of experimental crypto projects that aim to provide alternatives to traditional financial instruments.

From decentralized exchanges, lending and borrowing protocols, synthetic assets, and derivative products, DeFi provides a wide array of tools to leverage. The aspects of DeFi most interesting to users in recent times are yield farming and staking. Farmers and stakers are able to increase their token holding worth by locking a project's token in smart contracts or providing liquidity to pools. The returns promised by DeFi projects are generally higher than what traditional banks offer. However, some projects promise crazily high interest yields on stakes that cannot be sustained and kills the project life cycle shortly.

This represents a problem that needs to be tackled if DeFi will survive and mature into mainstream light. Narwhalsap Protocol is leading this charge of creating a sustainable DeFi ecosystem based on Binance Smart Chain (BSC).

Introducing Narwhalsap Protocol

Narwhalsap Protocol is a decentralized swapping protocol built on BSC that enables users to swap BEP-20 tokens, add liquidity to pools for LP rewards, and participate in yield farming. As an automated market maker (AMM) platform, Narwhalsap protocol enables liquidity providers (LPs) to add liquidity to pools and in return passively earn fees and the platform's native token - NAR in a pro rata basis.

Narwhalsap is designed to unlock the limitless financial opportunities embedded in the DeFi ecosystem and make it accessible for anyone to benefit. Narwhalsap aligns its economic incentives in a way that sustains the DeFi platform in the long term.

Users can perform the following operations on Narwhalsap:
Instant token swap
Liquidity provision
Yield Farming
Staking
Purchase of Non-fungible tokens (NFTs).

The main goal of Narwhalsap is to ensure the sustainability of the DeFi ecosystem.

Economic Incentives of Narwhalsap Ecosystem
NAR Token
NAR is the native token of the Narwhalsap DEX. It is purely a reward and governance token. As a reward token, NAR is used to reward yield farmers, while as a governance token, NAR holders will be able to vote on proposals.

NAR token has a total supply of 21 million of which 80% is allocated as reward for liquidity mining.

Protocol Utility Tokens
Narwhalsap has also issued two other protocol tokens, GEM and GOLD. These tokens serve as additional layer of reward and utility that boosts certain operation in the ecosystem, especially buff rate, which determines daily reward of user stakes.

GEM is given as reward for staking NAR while GOLD is awarded for staking GEM token. Currently, these two tokens cannnot be transacted, and are meant to encourage staking and further growing NAR token. GOLD token is the currency for purchasing Narwhalsap NFTs.

Narwhalsap NFTs
NFTs are unique, indivisible crypto collectibles that are fast gaining traction in the crypto industry currently. Narwhalswap also released the first phase of its NFT feature which is NAR Rune. However, unlike most other projects, Narwhalsap NFTs function as both digital collectible and utility digital piece.
NAR Rune has only one type in v1 implementation, which is Potion Rune.

Potion Rune is issued in five variants namely: Common, Rare, Epic, Legendary, Transcendent. These NFTs can be purchased using GOLD token in the GACHA machine or via Bazaar - Narwhalsap NFTs marketplace.

How Narwhalsap Protocol Ensures Sustainability
Narwhalsap Protocol entrenches sustainability in its ecosystem in various ways. First is the NAR token burn. Whenever a user calls NAR smart contract and transfers NAR token, 5% of the transfered amount is removed from circulation via token burn. Specifically, 2.5% of the token amount is burned permanently while the other 2.5% is transfered to the dividend pool to further reward users. This mechanism ensures sustainability of Narwhalsap protocol by preventing unnecessary dumping of NAR, and incentivizing NAR HODLers.

Second, Narwhalsap fully supports staking of tokens of other projects based on BSC network. Such stakers are rewarded with NLP token with which NAR and rNLP tokens can be earned. This effort will enable other DeFi projects to live longer without pressure of creating unlimited mining incentives or new AMM protocol.

A Peek into the Future of Narwhalsap
Narwhalsap has lots of milestones to attain in its road map. The Narwhalsap NFTs and marketplace are one of the major milestones achieved since the recent launch of the AMM protocol.
NAR sailors anticipate the v2 launch of Narwhalsap which comes with lots of upgrades and new features such as payment of transaction fee as NAR in liquidity pools, voting launch, initial NAR offering (INO) to raise funds for new DeFi projects, NAR lending and ultimately development and release of NAR chain.

These are all pointers to the fact that the future is really bright and exciting.

Final Thought
Binance Smart Chain is a vast network and base infrastructure for various DeFi dApps but Narwhalsap is by nature and design the unicorn in this ocean. By building sustainable economic incentives that also embraces other topnotch BSC project's tokens, Narwhalsap is making an inroad to mainstream adoption of DeFi.

With Narwhalsap Protocol, exciting times are here in the world of decentralized finance.

Official Links
For more information on Narwhalsap protocol, click the following links:
Website: http://narwhalswap.org/
Telegram: https://t.me/narwhalswap
Twitter: https://twitter.com/narwhalswap
Medium: https://medium.com/narwhalswap
Github: https://github.com/narwhalswap

Writer's Details
Bitcointalk Username: Ebullientfellow
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