Singapore, Singapore, August 29, 2024, Chainwire
Merkle Trade, the first gamified perpetual decentralized futures exchange (DEX) built on Aptos, the secure, scalable, and feature-rich Layer-1 blockchain, introduces its Token Generation Event (TGE) stream, which uniquely includes both Genesis Staking and a Liquidity Boot Auction (LBA). Backed by prominent investors Hashed and Arrington Capital, Merkle Trade is building on the success of Genesis Staking that began on July 25 to launch its LBA, which will run from August 29 to September 5.
The LBA will offer early users exclusive USDC rewards for staking for an extended period. Merkle Trade differentiates itself from other perpetual DEXs with its focus on accessible and enjoyable trading for everyone, including casual traders. Users can start trading perpetual futures with as little as $2 in collateral, while enjoying gas-free transactions and a seamless user experience with order execution that requires no constant signatures (i.e. one-click trading). Its focus on user-friendly features has fueled rapid growth, with Merkle Trade surpassing $12.9 billion in cumulative trading volume and attracting over 124,500 traders, while becoming one of the top fee-generating protocols on Aptos.
Building on this traction, the project has launched a unique sequence of Token Generation Events (TGE), featuring Genesis Staking and Liquidity Bootstrapping Auction (LBA) as different ways for users to interact with the platform. These options are designed to benefit both existing and new users, in order to provide various strategies to secure MKL tokens, manage positions, and earn additional rewards.
Genesis Stake allows preMKL holders to hold their MKL tokens while earning USDC rewards. These rewards come from a portion of the protocol’s revenue and include access to a special rewards pool with up to $200,000 in additional benefits. An impressive milestone has been reached with over 3 million preMKL tokens staked for an average duration of over 20 weeks, representing over 22% of the circulating supply at the time of the token launch.
Liquidity Boot Auction (LBA) MKL-USDC LP tokens offer an opportunity for both existing and new users to stake USDC and/or preMKL for a 7-day period, during which the ratio between the two assets will set the initial launch price of the MKL token. In return, participants receive MKL-USDC LP tokens, which come with double rewards, including a 1% share 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 are designed to offer valuable opportunities, allowing users to select the path that best aligns with their individual goals. To help make informed decisions, the team has provided a $MKL TGE Cheat Sheet, which offers clear and concise guidance on how to navigate these options.
For more details and updates on how to participate in the LBA, users are advised to stay tuned to Merkle Trade’s official channels (X, Discord, dApp).
About Merkle Trade
Merkle Trade is the first gamified perpetual futures decentralized exchange (DEX) based on Aptos. It offers omnichain support, including EVM wallet integration via LayerZero. Backed by prominent investors such as Hashed and Arrington Capital, Merkle Trade uniquely combines a secure, high-performance perpetual DEX with the engaging social elements of popular online and RPG games. With the belief that making directional bets on volatile assets like crypto should be fun for everyone, the platform has significantly lowered the barriers to entry for trading crypto assets.
About Aptos Network
Aptos is the secure, scalable, feature-rich L1 blockchain of choice for developers and users alike, offering the best performance, highest throughput, and lowest latency. Aptos is the first blockchain to use the Move programming language and is designed with simplicity in mind for the best development experience. Aptos is the best choice for next-generation use cases, real-world applications, and the millions of users that come with them. If it happens on Web3, it happens on Aptos.
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