Key points
- Merkle Trade’s TGE features Genesis Staking and an LBA, which offer multiple rewards.
- Participants can earn MKL shares and trading fees through LBA.
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Merkle Trade, the pioneering gamified perpetual futures decentralized exchange powered by the Aptos blockchain, is launching its Token Generation Event (TGE) sequence, According to a recent press release shared with Crypto Briefing, the event aims to offer participants opportunities to earn double rewards and secure MKL tokens with Genesis Staking and a liquidity bootstrapping auction.
Designed for pre-MKL holders, Genesis Staking allows existing users to stake pre-TGE MKL tokens and earn rewards in USDC, as well as access a special reward pool, the project stated. Over 3 million pre-MKL tokens have been staked for Genesis Staking since its launch on July 25.
Following the initial success of its Genesis Staking, Merkle Trade has initiated the Liquidity Boot Auction (LBA) to allow both early supporters and newcomers to interact with the network and earn additional rewards.
According to Merkle Trade, the LBA is a 7-day auction where users can deposit USDC and/or preMKL tokens to determine the initial launch price of the MKL token based on the ratio of these assets.
In return, participants receive LP MKL-USDC tokens, which entitle them to double rewards: a 1% share of the total MKL supply and trading fees generated by the pool, the project noted.
With the launch of the TGE stream, Merkle Trade aims to offer users a variety of ways to interact with the platform and benefit from its growth.
The project has raised $2.1 million from prominent investors including Hashed and Arrington Capital. Its vision is to become the largest decentralized leveraged trading hub, with a focus on ease of use, social features, advanced trading tools, security, and decentralization.
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