Merkle Trade, the first gamified perpetual futures decentralized exchange (DEX) based on the Aptos blockchain, is introducing its Token Generation Event (TGE) Sequence, featuring Genesis Staking and a Liquidity Bootstrapping Auction (LBA).
Introduction
Merkle Trade has announced the launch of a unique TGE sequence, including Genesis Staking and Liquidity Bootstrapping Auction (LBA), running from August 29th to September 5th, 2024. Users will be able to earn exclusive USDC rewards for prolonged staking and trade perpetual futures with a minimum collateral of $2. This initiative aims to make trading accessible and enjoyable for all users.
Genesis Staking
Genesis Staking allows preMKL holders to retain their MKL tokens while earning USDC rewards. These rewards are sourced from a portion of the protocol’s revenue and include access to a special reward pool with up to $200,000 in additional benefits. Currently, over 3 million preMKL tokens have been staked for an average duration of more than 20 weeks, accounting for over 22% of the circulating supply at the time of the token launch.
Liquidity Bootstrapping Auction
The Liquidity Bootstrapping Auction (LBA) offers users the opportunity to deposit USDC and/or preMKL over a 7-day period, during which the initial price ratio of the MKL token will be established. Participants will receive MKL-USDC LP tokens, which come with dual rewards, including a share of 1% of the total MKL supply and trading fees generated by the pool.
Participants are encouraged to carefully evaluate their financial goals and the unique benefits of each option within the TGE sequence. Both Genesis Staking and LBA offer valuable opportunities, allowing users to select the path that best aligns with their objectives.
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