Merkle Trade Kicks Off Genesis Staking And Liquidity Bootstrapping Auction, Offering Users MKL Tokens And Rewards
In Brief
Merkle Trade launchd TGE Sequence, including Genesis Staking and a Liquidity Bootstrapping Auction, enabling users to secure MKL tokens.
Gamified perpetual futures decentralized exchange (DEX), Merkle Trade (MKL) announced the launch of its Token Generation Event (TGE) Sequence. This event includes Genesis Staking and a Liquidity Bootstrapping Auction (LBA). These initiatives are designed to offer various strategies for existing users and newcomers to secure MKL tokens, manage their positions, and earn additional rewards.
“We’ve launched this sequence to offer more flexibility while catering to a wider base of users,” said Ye Park, co-founder of Merkle Trade, to MPost. “For the Merkle Trade community, the LBA offers a valuable opportunity for both new and existing users to strategize for the TGE, especially with 1% of the total MKL supply allocated for the participants,” he added.
Genesis Staking enables preMKL holders to keep their MKL tokens while earning rewards in USDC. These rewards come from a share of the protocol’s revenue and provide access to a special reward pool with up to $200,000 in additional benefits. Notably, over 3 million preMKL tokens have been staked for an average period exceeding 20 weeks, representing more than 22% of the circulating supply at the time of the token launch.
The LBA is set to begin today and will continue until September 5th. This event provides an opportunity for both current users and newcomers to deposit USDC and or preMKL over a 7-day period. The ratio of these assets during the auction will determine the initial launch price of the MKL token. Participants will receive MKL-USDC LP tokens in return, which offer dual rewards: a portion of 1% of the total MKL supply and a share of the trading fees generated by the pool.
Participants are advised to thoroughly assess their financial goals and the specific advantages of each option within the TGE Sequence. Both Genesis Staking and the LBA are intended to provide valuable opportunities, enabling users to choose the option that best fits their individual objectives. To support informed decision-making, the team has made available an MKL TGE Cheatsheet, which offers clear and straightforward guidance on navigating these choices.
Merkle Trade Surpasses $12.9B In Trading Volume, Emerges As Top Fee-Generating Protocol On Aptos
Merkle Trade is the first gamified perpetual futures DEX built on Aptos. It supports omnichain functionality, including integration with Ethereum Virtual Machine (EVM) wallets via LayerZero. Supported by investors such as Hashed and Arrington Capital, it blends a DEX with social elements found in popular online and role-playing games.
Unlike other perpetual DEXs, it emphasizes accessibility for all users, including casual traders. It allows traders to begin trading perpetual futures with just $2 in collateral, features gas-free transactions, and offers a seamless trading experience with simplified order execution that doesn’t require continuous signatures.
As of August, Merkle Trade has achieved over $12.9 billion in cumulative trading volume and has attracted more than 124,500 traders, positioning itself as a leading fee-generating protocol on Aptos.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
