Merkle Trade Launches Token Generation Event (TGE) Sequence

Merkle Trade, the innovative decentralized perpetual futures platform based on the Aptos blockchain, has launched its Token Generation Event (TGE) sequence.

Merkle Trade, a decentralized perpetual futures platform on Aptos, has launched its Token Generation Event (TGE). During this event, participants can earn dual rewards through Genesis Staking and a Liquidity Bootstrapping Auction (LBA).

Genesis Staking, available for pre-existing MKL holders, allows users to stake their preMKL tokens to earn rewards in USDC. This phase commenced on July 25 and has seen remarkable participation, with over 3 million preMKL tokens committed. Additionally, participants will be eligible for a special reward pool.

In a concise tweet, Merkle Trade announced the commencement of the LBA, which will span 7 days. This auction provides an opportunity for both veteran and new users to engage with the platform and reap benefits.

Merkle Trade Sets Out to Dominate the Playing Field

During the LBA, participants can deposit USDC and/or preMKL tokens to set the initial price of the MKL token. In exchange, they will receive MKL-USDC LP tokens, which entitle them to dual rewards: a share of 1% of the total MKL supply and a portion of the transaction fees generated by the pool.

Merkle Trade Platform Receives Million-Dollar Backing

Merkle Trade has secured $2.1 million in funding from investors including Hashed and Arrington Capital. This financial support underscores their belief in the project's potential to become a leading hub for decentralized leveraged trading.

With a focus on user-friendliness, advanced trading tools, social features, security, and decentralization, the platform aspires to position itself as an absolute leader in its field. The TGE sequence forms part of a broader strategy to encourage participation and growth of the platform, offering multiple avenues for users to get involved and benefit from its development.

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