Nado to launch on-chain OTC-style venue PRIME in Q4
Unified margin exchange Nado said it will launch PRIME, an on-chain OTC-style trading venue, in the fourth quarter to connect institutional market maker liquidity. Under the setup, liquidity providers will continuously stream quoted tiers into dedicated PRIME pools, while Nado’s pricing engine aggregates the full depth from connected market makers into a single two-way executable streaming price. The venue will run alongside, rather than replace, Nado’s existing central limit order book. Nado said positions will be interoperable when the same market is listed on both venues. Traders will be able to open a BTC perpetual position through PRIME and close it on the order book, or do the reverse. Beneath the displayed price, smart order routing will execute against the best available prices from connected market makers and combine liquidity across multiple firms when one provider’s depth is insufficient. Nado added that trades executed through PRIME will carry zero trading fees. The first rollout will target Hyperliquid, Variational, Lighter, Extended and Nado’s top traders. PRIME will initially cover crypto assets and more liquid perpetual contracts, with new markets launching on PRIME first before expanding to the order book once sustained demand is verified. Longer-term targets include exotic perpetuals, spot and options.
