## What Is Narwhalswap (NAR)?

Narwhalswap is a decentralized exchange and yield farming protocol created with the aim of making the decentralized finance ([DeFi](https://coinmarketcap.com/defi/)) ecosystem faster and cheaper. It was launched in September 2020 and is based on the Binance Smart Chain ([BSC](https://coinmarketcap.com/bsc/)), a second-layer protocol with high performance and low transaction fees.


### Who Are the Founders of Narwhalswap?

Narwhalswap is developed by an anonymous team of experts in finance and blockchain technology.


#### What Makes Narwhalswap (NAR) Unique?

Narwhalswap’s goal is to solve common problems associated with the DeFi market. It assists other projects in creating their own tokens and performing their own swaps on the Binance Smart Chain.

Narwhalswap protocol will allow staking tokens from other projects, providing the trader with NLP tokens in return. NLP, in turn, can be used to earn NAR tokens. Another token, rNLP, can be used to mine liquidity in other projects on the BSC network.

For stability, Narwhalswap has created an optimization protocol that enables liquidity mining that takes full advantage of other BSC projects, helping maintain high liquidity in the long run.


#### Related Pages:

Read more about [xDai](https://coinmarketcap.com/currencies/xdai/).

Read more about [YFDAI.FINANCE](https://coinmarketcap.com/currencies/yfdai-finance/).


# Find out more about yield farming at [CoinMarketCap Alexandria](https://coinmarketcap.com/alexandria/article/what-is-yield-farming).

Expand your knowledge of crypto by visiting the [CoinMarketCap blog](https://coinmarketcap.com/alexandria/categories/blog).


#### How Many Narwhalswap (NAR) Coins Are There in Circulation?

The Narwhalswap ecosystem is managed via the NAR governance token, which can be mined by providing liquidity to the exchange. In the future, holders of the NAR token will be able to participate in community decisions and receive dividends.

Any changes in platform policy will be jointly voted on. The participants’ voting power is independent of their stake size: every holder enjoys only one vote. Holders of NAR tokens also have access to dividend payouts that do depend on the number of tokens they stake.

The liquidity extraction model will be completely different from the existing models that track the reliability of the Narwhalswap DeFi structure. The total supply of NAR tokens is 21,000,000, 80% of which will be distributed through liquidity mining. This incentivizes farmers to maintain liquidity as supply becomes more scarce over time.

10% of mining rewards will be directed to the dividend pool and distributed among NAR holders. For each transaction with the NAR token, a 5% fee is deducted. Of that, 2.5% is burned and the remaining 2.5% is transferred to the dividend pool.


### How Is the Narwhalswap Network Secured?

Narwhalswap is based on Binance Smart Chain, an autonomous smart-contract-enabled highly secure blockchain. It is compatible with the Ethereum Virtual Machine ([EVM](https://coinmarketcap.com/alexandria/glossary/ethereum-virtual-machine-evm)) and is planned to support all existing Ethereum instruments.

Built-in dual-chain interoperability will enable inter-blockchain communication and scalable decentralized applications ([DApps](https://coinmarketcap.com/alexandria/glossary/decentralized-applications-dapps)) that are expected to provide a fast and reliable user experience.


### Where Can You Buy Narwhalswap (NAR)?

Narwhalswap (NAR) can be traded on the [PancakeSwap](https://coinmarketcap.com/exchanges/pancakeswap/) decentralized exchange.

Wanna learn more about buying Bitcoin ([BTC](https://coinmarketcap.com/currencies/bitcoin/)) and other cryptocurrencies? [Click here](https://coinmarketcap.com/how-to-buy-bitcoin/) to read our comprehensive guide.


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