$MKL TGE Cheatsheet

4 min readAug 13, 2024

Summary of the TGE Sequence

Options for Everyone: Genesis Staking & LBA

Whether you’re holding preMKL or USDC, interested in securing more MKL or hedging your position, Merkle Trade’s TGE Sequence offers exciting opportunities for everyone.

For preMKL Holders — Choose to participate in Genesis Staking, the Liquid Bootstrapping Auction (LBA), or both.

Genesis Staking (Guide): Retain your MKL and earn USDC rewards in the form of MKLP from a portion of protocol revenue. Enjoy the exclusive Genesis Reward Pool, with up to $200,000 in additional rewards.
LBA (Guide): Deposit your preMKL to receive MKL-USDC LP tokens. With these LP tokens, earn dual rewards from additional dedicated LP incentives (1% of the total MKL supply) and pool fees.

For USDC Holders — LBA offers a straightforward way to get involved.

LBA (Guide): Deposit your USDC to receive MKL-USDC LP tokens. With these LP tokens, earn dual rewards from additional dedicated LP incentives (1% of the total MKL supply) and pool fees.

Refer to the infographics below for a comprehensive comparison of Genesis Staking and LBA.

Core Considerations

Genesis Staking (Guide)

Genesis Reward Pool (Up to $200K): Up to $200,000 will be allocated to the Genesis Reward Pool in a non-dilutive manner. Initially, $50,000 will be provided until 1% of the veMKL supply is reached. For every additional 0.1% increase in total veMKL supply (based on the highest veMKL supply level achieved), the reward will increase by $5,000.
Exclusivity with LBA: Genesis Staked MKL will not be liquid during the LBA. This ensures that staking rewards are maximized for users who demonstrate long-term commitment during this crucial price discovery phase.
preMKL Ownership: Make sure you have preMKL tokens, which you can obtain by participating in Merkle Trade’s trading seasons (S0-S17, i.e. until August 22nd).
Lockups — Users must stake and lock up their preMKL to obtain veMKL (vote-escrowed MKL) and gain rewards. The minimum lockup will be September 20th or later (up to 1 year).

LBA (Guide)

Dual LP Rewards (1% of MKL+ Fees): 1% of the total MKL supply will be allocated to incentivize long-term commitment to the Merkle Trade ecosystem. Users can also earn trading fees generated from the resulting LBA pool.
Lockup & Vesting: Post-LBA, the liquidity provided to the preMKL pool and/or USDC pool will be locked and vested over 120 days, with one-third unlocked after 60 days and the remainder vesting linearly over the next 60 days.
Deposit and Withdrawal Windows: 1) Day 1–5 — USDC can be supplied and withdrawn freely, and preMKL can be deposited (deposited preMKL cannot be withdrawn) 2) Day 6 — USDC can be withdrawn up to 50%, with no deposits allowed in both Day 6 & Day 7 3) Day 7 — Maximum withdrawal amount decreases to 0% linearly over 24 hours.

Wrapping Up

As you consider participating in Merkle Trade’s TGE Sequence, it’s essential to evaluate your liquidity needs and potential rewards. Whether you choose Genesis Staking for exclusive USDC rewards or the Liquid Bootstrapping Auction (LBA) for immediate MKL acquisition, each option offers unique benefits and opportunities.

Join Merkle Trade’s TGE Sequence to take advantage of this innovative and gamified trading platform. Stay tuned to the following channels for the latest updates.

Website: https://merkle.trade

Documentation: https://docs.merkle.trade

Discord: https://discord.gg/uV2A5nSpng

Twitter: https://twitter.com/Merkle_Trade

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Disclaimer

The content above is neither a recommendation for investment and trading strategies nor does it constitute an investment offer, solicitation, or recommendation of any product or service. The content is for informational sharing purposes only. Anyone who makes or changes the investment decision based on the content shall undertake the result or loss by himself/herself.

Any forward-looking statement made in this article is based only on information currently available and speaks only as of the date on which it is made. Except as required by applicable securities laws, the team undertakes no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.