Merkle Network, a zero-layer interoperability protocol that stands at the core of the cross-chain ecosystem, has announced their collaboration with TrustSwap to aid in the FlashLaunch of their $MERKLE token offering on October 28th, 2021 at 01:00 PM UTC.
What is Merkle Network?
Merkle Network is an interoperability protocol that operates across multiple smart chains to facilitate inter-chain communication. Merkle Network’s main functionality is to connect multiple blockchains and bridge the gap between the decentralized ecosystem flourishing in these blockchains including Ethereum, Avalanche, Solana, Binance Smart Chain, Polygon, Polkadot. Merkle Network is powered by a secure on-chain protocol combined with a decentralized oracle network to enable fast and secure transfer of data and assets.
Merkle Network Architecture
Merkle Network is designed to be a blockchain-agnostic protocol using a 4-layered architecture. Merkle Network leverages a decentralized oracle network to transfer data between the chains. The protocol uses smart contracts for on-chain data requests from other blockchains. This makes Merkle Network easy to integrate into decentralized applications unlocking the many interoperability options offered by Merkle Network.
Security
Security is at the core of Merkle Network’s Decentralized Interoperable Oracle Network and the services built on the Merkle Network Protocol layer will be able to choose from a range of consensus mechanisms to fit their use cases and security needs. These include PoS Validation, Custom Validation, and Hybrid Validation.
Use Cases
Merkle Network opens the floodgates for a vast spectrum of innovative applications to be built and enhanced with interoperability solutions. Some of the use cases and applications that Merkle Network will revolutionize include:
- Cross-Chain Decentralized Applications
- Decentralized Token Bridges
- Interoperable DeFi Markets
- Multichain Interoperable Exchanges
- Lending & Borrowing Platforms
- Yield Optimization and Distribution
- Multichain Token Standards
- Solving Fragmentation of Assets Across Chains
- Flexible Smart Contracts
- Computing & Storage Arbitrage
$MERKLE Token Utility
Merkle Network uses the $MERKLE token to fuel the decentralized protocol. $MERKLE is launching as a BEP20 token on the Binance Smart Chain with plans to expand to all major blockchains once the main net is live.
$MERKLE will have multiple utilities and features including:
- Operation within the decentralized Validator Network
- Gas Fees for cross-chain transfers
- Staking to secure the network
- Token Burns from the fees generated
- Adding assets to the interoperable ecosystem
- Platform Governance
Meet The Team
Learn More about Merkle Network
FlashLaunch Details
Participation and Allocation
- Each FlashLaunch will have a set individual allocation of exactly $250 per person. There will be 560 of these allocations available in this FlashLaunch as well as five $500 allocations reserved for holders of a Merkle Golden Ticket.
- Anyone who registers during the 24-hour FlashLaunch window will be eligible for an entry to receive an allocation as long as they have either 4000+ SWAP actively staked or a SwapScore of at least 2500 when the FlashLaunch starts.
- Applicants can apply to the FlashLaunch during the 24 hours between 1PM UTC on the launch day and 1PM UTC the following day at Launchpads.
- Once all applications are registered, a specific number of entries will be assigned to each participant based on their SwapScore or Staked $SWAP, whichever is higher (see table below). The snapshot for the ticket allocation will be taken at 1PM UTC on October 28th, 2021. SWAP must be actively staking at that time to be counted as staked.
- There will be a random drawing for the $250 allocations. The more entries you have, the higher your chance of being selected (see table below).
- Each person can only win once per FlashLaunch. KYC verification is required and jurisdictional restrictions apply.
Golden Tickets
- Five “Merkle Golden Ticket” NFTs have been minted by TrustSwap which will each unlock access to a guaranteed $500 allocation for this specific FlashLaunch (pending KYC verification).
*Note: Golden Tickets are not redeemable for tokens. They allow the holder to bypass the random drawing and participate in the token offering.
- These NFT’s will be initially sold at auction by TrustSwap. The auction will run until October 27th, 2021 at 1PM UTC (24 hours prior to launch).
- The top 5 highest bids at that time will win the NFT’s. There is no minimum bid.
- The Merkle Golden Ticket NFT’s can be traded and resold on any NFT marketplace.
- Whoever holds the NFT at the “snapshot” time when the launch begins (1PM UTC on October 28th, 2021) will bypass the random drawing process and be whitelisted for a $500 allocation (pending KYC).
- Only one Golden Ticket can be used per individual but those who win the drawing can also use a Merkle Golden Ticket to receive an additional $500 allocation for a maximum of $750 total allocation possible per individual.
- 10% of the proceeds from Golden Ticket sales will go to the Eden Reforestation Project, a non-profit focused on planting trees and saving lives.
To bid on the Merkle Golden Ticket NFTs, click here.
Secure Launch Process
To ensure a smooth launch, the Merkle Network team has agreed to:
- Have their domain fully SSL certified one week prior to token sale date.
- Have their domain protected by Cloudflare and share proof with TrustSwap one week prior to the token sale date.
- Disclose the vesting schedule of all tokens, including team, strategic investors, private presale, influencers, etc.
- Add no less than $150,000 of liquidity on PancakeSwap immediately upon listing.
- Distribute tokens to launchpad participants within one hour of DEX listing.
- Lock liquidity within 3 hours of listing for no less than 60 days.
- Provide the timeline for token distributions and distribute tokens within a one-hour window of the agreed-upon time.
- Lock 75% or more of team & dev fund tokens for a minimum of thirty days within 6 hours of funding initial DEX liquidity.
- Have at least one community moderator on each social platform (Discord, Telegram, etc.) actively available 24 hours a day for the first 7 days following the DEX launch.
Step-by-Step Guide
- At any time between 1PM UTC on October 28th and 1PM UTC on October 29th (24 hrs), go to https://dashboard.trustswap.org/app/launchpads and click the button to apply and fill out the form.
- Applicants will be given a number of entries into a random drawing relative to their staked SWAP/SwapScore (see above chart for details).
- Winners of the draw will be contacted via TrustSwap’s Dashboard Messaging System within 24 hrs to provide their KYC documents. Once the message arrives, you will have 18 hours to provide your KYC details.
- Approved participants will be contacted again via TrustSwap’s Dashboard Messaging System with payment instructions.
- 5 allocations will be reserved for Merkle Golden Ticket Holders.
- An additional 50 people selected in the drawing will be on ‘stand-by’ and will have the first option to participate if there are any unsold tokens after the initial rounds are complete including any unused Golden Tickets.
Who Can Participate?
Individuals with Citizenship and/or Residency status in the United States, China, or any UN-sanctioned countries are not eligible to participate in the Merkle Network FlashLaunch.
DISCLAIMER: Launchpad dates and details are subject to change. This is not an endorsement, partnership or an offer for investment by TrustSwap. Merkle Network is using the TrustSwap Launchpad as a customer with specific requests as to how they need their launch to operate. TrustSwap is a provider of non-custodial, smart-contract-based software services. Digital assets carry a high level of risk. Participation is performed at your own risk. Exercise caution and conduct your own due diligence.
