TL;DR
- Merkle Trade launches its Token Generation Event (TGE) with dual rewards through Genesis Staking and Liquidity Bootstrapping Auction (LBA).
- Genesis Staking, with over 3 million preMKL tokens committed, offers rewards in USDC and access to a special reward pool.
- The 7-day Liquidity Bootstrapping Auction (LBA) allows users to set the price of the MKL token and receive MKL-USDC LP tokens.
Merkle Trade, the innovative decentralized perpetual futures platform based on the Aptos blockchain, has launched its Token Generation Event (TGE) sequence. Participants will be able to earn dual rewards through Genesis Staking and a Liquidity Bootstrapping Auction (LBA). With this initiative, the platform aims to strengthen its ecosystem and attract new users.
Genesis Staking, designed for pre-existing MKL holders, allows users who already have preMKL tokens to stake them in exchange for rewards in USDC. The phase has been highly successful since its launch on July 25, with over 3 million preMKL tokens committed in this mode. Additionally, participants have access to a special reward pool.
The LBA has arrived 🌲
That’s the tweet. pic.twitter.com/FHalcXpUKq
— Merkle Trade 🌲 (@Merkle_Trade) August 29, 2024
In parallel, Merkle Trade has launched the Liquidity Bootstrapping Auction (LBA), which lasts for 7 days and is designed to allow both veteran and new users to interact with the platform and gain additional benefits.
Merkle Trade Aims to Lead Its Field
During the auction, participants can deposit USDC and/or preMKL tokens to set the initial price of the MKL token. In return, they will receive MKL-USDC LP tokens, which entitle them to dual rewards: a share of 1% of the total MKL supply and a portion of the transaction fees generated by the pool.
Million-Dollar Backing for the Platform
Merkle Trade has raised $2.1 million thanks to contributions from investors such as Hashed and Arrington Capital. This financial support represents a bet on the project’s potential to become a leading hub for decentralized leveraged trading. With a focus on user-friendliness, advanced trading tools, social features, security, and decentralization, the platform aspires to position itself as an absolute leader in its field.
The TGE sequence is part of a plan developed to encourage participation and growth of the platform, providing multiple ways for users to get involved and benefit from its development.
