Aptos-based Merkle Trade kicks off TGE sequence with dual rewards for participants
Key Takeaways
- Merkle Trade's TGE features Genesis Staking and an LBA, offering multiple rewards.
- Participants can earn shares of MKL supply and trading fees through the LBA.
Share this article
Merkle Trade, the pioneering gamified perpetual futures decentralized exchange powered by the Aptos blockchain, is launching its token generation event (TGE) sequence, according to a recent press release shared with Crypto Briefing. The event aims to offer participants opportunities to earn dual rewards and secure MKL tokens with Genesis Staking and a Liquidity Bootstrapping Auction.
Designed for preMKL holders, Genesis Staking enables existing users to stake pre-TGE MKL tokens and earn USDC rewards, as well as access a special reward pool, the project stated. Over 3 million preMKL tokens have been staked for Genesis Staking since its launch on July 25.
Following the initial success of its Genesis Staking, Merkle Trade has initiated the Liquidity Bootstrapping Auction (LBA) to allow both early supporters and newcomers to engage with the network and earn additional rewards.
According to Merkle Trade, the LBA is a 7-day auction where users can deposit USDC and/or preMKL tokens to determine the initial launch price of the MKL token based on the ratio of these assets.
Participants receive MKL-USDC LP tokens in return, which entitle them to dual rewards: a share of 1% of the total MKL supply and trading fees generated by the pool, the project noted.
With the TGE sequence’s launch, Merkle Trade aims to offer users a variety of ways to engage with the platform and benefit from its growth.
The project has raised $2.1 million from prominent investors, including Hashed and Arrington Capital. Its vision is to become the biggest decentralized hub for leveraged trading, with a focus on user-friendliness, social features, advanced trading tools, security, and decentralization.
Share this article
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Google Chrome’s success ‘impossible to recreate,’ exec testifies in DOJ antitrust trial
Share link:In this post: Parisa Tabriz believes Google Chrome would decline in another company’s hands, saying it would be hard to disentangle Google from the search engine’s success. Google plans to infuse artificial intelligence into Chrome to make it more agentic. OpenAI showed interest in buying Google Chrome.
SEC Commissioner Hester Peirce calls for better crypto regulation
Share link:In this post: SEC Commissioner Hester Peirce has called for better crypto regulation in the United States. Peirce mentioned that financial firms have been approaching crypto in a way like playing “the floor is lava” children’s game. SEC commissioners want flexible regulation as SEC chairman Paul Atkins wants clear regulations for digital assets.
Australian radio station used AI-generated DJ for months before being discovered
Share link:In this post: An Australian radio station has received backlash over the use of an AI-generated DJ for months without disclosure. The show, Workdays with Thy, used the AI-generated DJ for six months, airing by 11am every weekday. The general public has called for the need to formulate regulations to track the responsible use of artificial intelligence.
DeFi TVL exceeds $100 billion for the first time since March
Trending news
MoreCrypto prices
More
