Merkle Trade, a decentralized exchange (DEX) specializing in perpetual futures trading, has recently introduced its Token Generation Event (TGE) Sequence on the Aptos blockchain. This move marks a significant milestone for the platform, backed by prominent venture capitals such as Hashed and Arrington Capital, as it aims to revolutionize the crypto trading experience for users.
The TGE event consists of two key components: Genesis Staking and a Liquidity Bootstrapping Auction (LBA). The Genesis Staking phase, which commenced on July 25th, allows users to lock up their tokens on the DEX to earn additional rewards in USDC stablecoin. This phase also includes access to a special prize pool offering up to $200,000 in additional benefits. Merkle reported a successful start to the Genesis Staking phase, with over 3 million preMKL tokens staked, representing approximately 22% of the total circulating supply.
Following the success of Genesis Staking, Merkle is now gearing up for the second phase of the TGE Sequence: the Liquidity Bootstrapping Auction (LBA). Scheduled to last for seven days from August 29 to September 5, the LBA aims to ensure sufficient liquidity for the platform’s tokens. Participants in the LBA will receive compensation in the form of USDC stablecoin for staking their assets for more than seven days, along with dual rewards in the form of MKL-USDC LP tokens.
To assist participants in making informed decisions during the TGE event, Merkle has unveiled a new tool called the MKL TGE Cheatsheet. This tool provides clear and practical guidance to help users navigate the different opportunities presented by Genesis Staking and the LBA, enabling them to choose the option that aligns best with their financial goals.
Overall, Merkle Trade’s TGE Sequence on the Aptos blockchain represents a significant step towards building a sustainable and liquid market for its native token, MKL. With the platform’s focus on user experience and innovative features, it is poised to make a lasting impact in the world of decentralized finance (DeFi) and crypto trading.