ME COLLATERAL Incentivized Test Net Launches Today
After six months of intensive testing, we’re thrilled to announce the launch of our incentivized test net today! Join Discord to take part in the incentivized TestNet Campaign!!
More details about the testing process and user guide are as follows.
TestNet Link: https://testnet.mecollateral.com
ME COLLATERAL: A New Era of Crypto with the Mercury Protocol
ME COLLATERAL, powered by the innovative Mercury Protocol, is a revolutionary crypto experiment created by the winners of the Angel Hub Asia Hackathon (Innovation category) and grant recipients.
Mercury Protocol: Solving Meme Coin Scams
The Mercury Protocol tackles the rampant scams plaguing meme coins by establishing a new set of protocol standards and a framework called “Time-Bound Standard” (TBS). This framework allows for issuing collateralized store-of-value tokens while preserving the fun and vibrant culture of meme economies.
Deeper Dive: Unveiling the Protocol’s Powerhouse Features
The Mercury Protocol boasts three groundbreaking elements:
- Time-Bound Standard (TBS): This unique feature enforces a lock on wallet-sell ratios, preventing malicious actors (including contract deployers) from dumping large quantities of tokens. This fosters a more stable market environment.
- Burn Vault: Your Decentralized Safety Net: The Burn Vault acts as a decentralized reserve pool. It guarantees a minimum collateral price for investors, even in volatile market conditions, providing a valuable safety net for your investments.
- Controlled Unlock: Taming Liquidity Swings Controlled Unlock is a novel service that minimizes exchange liquidity fluctuations. It achieves this by locking significant user profits from token swaps back into the reserve pool. This helps to maintain and enhance the overall market price of the crypto asset.
Here are the steps to navigate through the platform features
Table of Contents:
- Connect Wallet
- Faucet
- ME Dashboard
- Swap
- Add Liquidity
- Stake ME
- Stake LP
- Burn Vault
- Seed Sale
1. Connect Wallet
On the website, connect your wallet by clicking ‘Connect Wallet’. In the prompt, choose which wallet you need to connect, and then click the ‘Connect’ button in the pop-up window of the selected wallet.
After connecting, you can verify which wallet is connected by clicking on the address in the website header, as shown below.
After clicking the address, a pop-up will open.
In this pop-up, you can verify which wallet is connected, and it will display the connected wallet address.
2. Faucet
To Obtain ME tokens, Use the Faucet to get the ME token. Obtain ME tokens from public faucets on the official ME Collateral website. This is essential for using ME Collateral features.
3. ME Dashboard
On the Dashboard page, there is a navbar for accessing the wallet dashboard. Click on the “Wallet” tab to view detailed information about your wallet.
In this page, you will find detailed information about your ME token holdings, including:
- Your ME token balance.
- The amount of ME tokens available for transfer.
- The locking period for specific transfer amounts.
- Information about whether the wallet is currently locked.
- If locked, it will display the remaining time until the wallet unlocks.
- The dollar value of your ETH and ME token balances.
- Transaction history detailing the activity within your wallet.
4. Swap:
Step 1: Navigate to the official ME Swap platform.
Head to the official ME Token Swap (Testnet) to initiate the process of swapping ME for ETH.
Step 2: Enter the Swap Amount
Specify the amount of ME tokens you wish to swap for ETH. The Swap interface will display the equivalent ETH value based on the amount entered.
Step 3: Approve the swap transaction.
Authorize the swap transaction from your wallet by approving it.
Step 4: Initiate the swap.
Once you have approved the transaction, click on the “Swap” button to execute the ME Token Swap.
Note: Each user has a swap limit of 20% of their ME token balance when using the native Swap feature. Once this limit is reached, users must wait for 12 days before accessing the native Swap again. This measure helps prevent large-scale dumping of ME tokens by whales.
Disclaimer: During each swap, 50% of the ETH obtained via the swap will be deducted from the user’s balance and allocated towards growing the Burn Vault assets.
5. Add Liquidity:
Navigate to the Pool page to begin adding liquidity to the ME-ETH pool.
Step 1: Approve
Start the liquidity addition process by entering the amount of ME tokens you want to add to liquidity. Then, click on the “Approve” button, which will prompt a wallet pop-up. Click the “Confirm” button in the wallet pop-up to authorize the liquidity addition process from your wallet.
Step 2: Add Liquidity
Once you have approved the liquidity addition by clicking “Approve”, proceed to click “Add Liquidity” to finalize the process. A wallet pop-up will appear, asking you to approve the transaction.
After approving the transaction, a completion pop-up will appear. To check the transaction details, click “View on Base Sepolia Explorer,” which will redirect you to the transaction page on Base Sepolia Explorer.
6. Stake ME
To begin the staking process, visit the official ME Stake page (Testnet) and scroll down to locate the Staking pool component. This is where you can initiate the staking process.
To stake your ME tokens, click the dropdown in the Stake tab. Then, select the stake option on your left and click “Click to Stake” to initiate the staking process.
Specify the amount of ME tokens you wish to stake in the designated field.
Step 1: Approve
Click on “Approve” to authorize and approve the staking process from your connected wallet.
Step 2: Stake ME
After you have approved the staking process, click on “Stake” to complete the ME stake.
Step 3:Unstake ME
To unstake your ME tokens, click the dropdown in the Stake tab. Then select the Unstake option on your left and click “Click to Unstake” to initiate the unstaking process.
Specify the amount of ME tokens you want to unstake in the designated field. Then, click “Unstake” to finalize the ME unstaking process.
Step 4: Claim Reward
To claim your reward, click the dropdown in the Stake tab. Then select the Claim option on your left and click “Claim” to receive your ME token reward.
Note: The claim option will be enabled only if the reward is at least equal to 0.1 ME tokens or more.
7. Stake LP
To stake your ME-ETH LP tokens, follow the same steps outlined in the fifth step of the ME token staking process. This typically involves selecting the LP staking option, specifying the amount of ME-ETH LP tokens you wish to stake, approving the staking transaction from your wallet, and then confirming the staking action to complete the process.
8.BurnVault
To cash out ME tokens and convert them to ETH using BurnVault, visit the official BurnVault (Testnet) page. This is where you’ll initiate the process of converting ME tokens to ETH.
Step 1: Approve
Click on the “Burn” button to initiate the process. Enter the amount of ME tokens you wish to burn. The equivalent ETH amount will be displayed on the Burn interface.
Click on the “Approve” button and authorize your wallet for the approval transaction.
Step 2: Burn
After approving the transaction, click “Burn” again to initiate the ME token swap and convert your ME tokens to ETH using Burn Vault.
Note: The BurnVault feature has a burn limit for each user. Once this limit is reached, users cannot access Burn Vault again for a specific period.
9. Seed Sale
To contribute ETH and participate in the seed sale to earn ME tokens, visit the official Launchpad (Testnet) page. This is where you can contribute ETH to acquire ME tokens during the seed sale event.
Step 1: Participate
To view the current status of the Seed Sale and participate, click on “Participate”. Then, click “Participate” again to initiate the process. Enter the amount of ETH you wish to contribute to acquire ME tokens during the seed sale.
Click “Contribute” to finalize your participation in the Seed Sale and contribute the specified amount of ETH to acquire ME tokens.
Note: The Seed Sale requires a minimum contribution of 0.1 ETH to participate.
Step 2: Claim
After the Seed Sale concludes, click “Claim” to access and claim your rewards.
You can claim your reward tokens by selecting “Claim reward.”
Note: Rewards will vest at a rate of 10% with a 2-day interval between each claim.
Get in touch with us
Please contact us on our official Discord channel if you have any additional questions. Thank you.
Follow Us
We love how the crypto landscape is growing quickly and are certainly excited to be part of it! We sincerely hope you join us on this exciting journey! We will soon announce more details on our sale, roadmap, whitepaper, token metrics, prototypes, partnerships, audit report, and marketing plan!
Join the Telegram channel and learn about our progress: https://t.me/mecollateral
Join Discord to meet our team: https://discord.gg/DHXPY4pzqv
Follow us on Twitter: https://twitter.com/mecollateral
YouTube Explainer Videos:
Website: https://www.mecollateral.com
Whitepaper: https://github.com/mecollateral/Whitepaper/blob/main/ME_Whitepaper.pdf
Team Mercury!!!
