Gamified Incentivized Trading by Merkle Trade
A detailed overview of gamified trading, incentives and future plans
TLDR;
- Every trading activity on Merkle Trade earns you points and helps you level up your account. When leveling up you get loot boxes with rewards.
- Doing weekly missions also earns you points and loot boxes with rewards.
- Loot boxes are obtained instantly but can be opened in the next update in early December.
- Loot boxes contain items, trading boosts and pMKL (predecessor of the MKL token)
Points (XP & MP) and Missions
Any trading activity on the platform is rewarded with points (XP&MP), both XPs & MPs are utilized to obtain loot boxes:
Experience points (XPs) are the key metric of your progression on Merkle Trade. You earn them by trading and paying fees on the platform — every $1 in fees gives you 100 XP. As you accumulate XPs, you’ll level up your trading account, and each new level earns you a loot box. The higher the level, the better the loot boxes you’ll receive. But remember, you’ll need more XP to reach each subsequent level. Check out the table below for more details.
You can boost your XP by trading on consecutive days and triggering a ‘streak boost’ that can increase your XP by up to 7%. The XP boost is determined by the number of days you have traded within the past 7 days, with each day contributing to a percentage increase in XP by 1%.
Mission points (MPs) are given for completing the missions. The amount of MP given for a mission may vary depending on the type and difficulty of the mission. For every 20 MPs you earn, you can claim a loot box, and the more MPs you collect, the higher rarity of the loot box you’ll claim.
There are currently 11 missions, ranging from straightforward tasks to more challenging ones that test your trading skills. These missions are designed to focus on various trading criteria, including:
- Volume
- PnL in %
- Trading multiple pairs
- Utilizing max leverage, etc.
Missions are reset weekly at Tuesday 12:00 PM UTC, all the unutilized MPs are burned and you can start over.
Loot Boxes: Continuous Pre-mining Incentives
Loot boxes represent Merkle Trade’s innovation offering instant pre-mining rewards. This means you don’t have to wait for incentives or an airdrop; you can start earning rewards right away and keep collecting them all the way up to the TGE in Q1 of 2024.
You can get loot boxes by leveling up with XPs and by completing weekly missions. Each loot box is packed with different rewards, from pMKL tokens to equippable items with trading benefits.
The rarity of the loot boxes you receive depends on your account’s level tier: the higher your tier, the higher rarity of the loot box and the more valuable the potential rewards inside. The specific rewards and their quantity are random but will fall within a certain range. For instance, if you get an Epic tier loot box once it’s opened you can get any item of Normal to Epic rarity. The same is true for the amount of pMKL that can be found in loot boxes (see table below)
What’s Next
In the next update in late November, loot boxes will be unlocked so that you will be able to open your loot boxes to obtain pMKL tokens and equip the items inside.
Start Accumulating pMKL for the upcoming MKL Genesis Airdrop!
pMKL token is the predecessor of the MKL token scheduled to be released and airdropped in Q1 next year. On TGE, all the pre-mined pMKL will be converted to liquid MKL tokens through the MKL Genesis Airdrop.
Stay tuned for these exciting developments, and thank you for being a part of our growing community!
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