Perpetual Futures DEX Merkle Tree Launches its Token

As a seasoned researcher who has delved into the intricacies of blockchain technology and decentralized exchanges (DEXs) for years, I find myself intrigued by the recent announcement from Merkle Trade. With its unique blend of gamification, perpetual futures, and omnichain support, this DEX seems to be carving out a niche for itself in an increasingly crowded market.


The decentralized exchange known as Merkle Trade, which incorporates gamification and operates on a continuous basis, has launched its Token Generation Event (TGE) for the MKL token.

As per the announcement made on August 29, the decentralized exchange (DEX), Merkle Trade based in Aptos, is planning to release its native token through a combination of genesis staking and a liquidity bootstrapping auction. Notably, this new token has institutional backing from Hashed and Arrington Capital. The genesis staking for the platform began on July 25, while the liquidity bootstrapping auction will commence on September 5.

In simple terms, a Liquidity Bootstrapping Auction is a way to launch a DeFi token where the price begins high and lowers as more liquidity becomes available. This auction gives early users rewards in USD Coin (USDC) if they stake their tokens for an extended timeframe. Unlike genesis staking, which involves putting assets up for staking to receive the newly minted tokens, it doesn’t require you to put your assets at risk; instead, you are rewarded with USDC for locking in your tokens.

Users with preMKL can utilize Genesis Staking to sell their MKL tokens, all while receiving extra USDC rewards. These incentives come from a part of the protocol’s income, backed by a reward pool that could reach up to $200,000.

According to the statement, more than 3 million preMKL tokens have been locked in for a period that averages over 20 weeks. This represents approximately 22% of the total supply when the token was initially released.

Merkle Tree is a gamified perpetual futures DEX with omnichain support and Ethereum virtual machine integration via LayerZero. The project distinguishes itself from competitors through the integration of social elements typical of online and role-playing games to gamify trading.

As a crypto investor, I find perpetual futures to be a unique kind of financial instrument that doesn’t have an expiration date like traditional futures contracts. This means I can hold them indefinitely if I choose to. These contracts provide traders like me with the opportunity to open either long or short positions. To keep the contract price aligned with the underlying asset’s price, there are periodic funding rate payments involved.

Earlier this month, Merkle Tree took headlines as the leading project generating fees on the Aptos blockchain. Aptos is a blockchain at the first layer, emphasizing quick response times and capacity to scale. It uses Meta’s Move programming language in its coding.

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2024-08-29 17:11