Merkle Trade Launches TGE Sequence with Genesis Staking and LBA

by Giorgi Kostiuk

2 years ago

Made with AI

Launch of TGE Sequence
Genesis Staking
Liquidity Bootstrapping Auction (LBA)

Merkle Trade, the first gamified perpetual futures decentralized exchange (DEX) on the Aptos blockchain, has announced the launch of its Token Generation Event (TGE) Sequence featuring Genesis Staking and the Liquidity Bootstrapping Auction (LBA).

Launch of TGE Sequence

Running from August 29 to September 5, the LBA offers early users exclusive USDC rewards for extended staking. Merkle Trade stands out from other perpetual DEXes with its focus on making trading accessible and enjoyable, allowing traders to start with as little as $2 in collateral and enjoy gas-free transactions and one-click trading. The project has achieved over $12.9 billion in cumulative trading volume and attracted more than 124,500 traders.

Genesis Staking

Genesis Staking allows preMKL holders to retain their MKL tokens while earning USDC rewards sourced from a portion of the protocol’s revenue. Additionally, a special reward pool of up to $200,000 is available. To date, 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 token launch.

Liquidity Bootstrapping Auction (LBA)

The LBA provides an opportunity for users to deposit USDC and/or preMKL over a 7-day period, during which the ratio between the two assets will establish the initial MKL token launch price. Participants receive MKL-USDC LP tokens in return, with dual rewards including a share of 1% of the total MKL supply and trading fees generated by the pool.

Participants in the TGE Sequence are encouraged to carefully consider their financial goals and the benefits of each option. Both Genesis Staking and the LBA offer valuable opportunities, allowing users to choose strategies that best fit their objectives.

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