MerlinStarter will launch its native token $MSTAR IDO tonight at 8 PM. A total of 50 million $MSTAR tokens will be distributed across four different pools, including the $BTC pool, $M-BTC pool, $MP pool, and the Community Pool. The IDO subscription will be open until April 15th.
Background:
MerlinSwap, the first IDO project on the Merlin Chain ecosystem, raised nearly $500 million, setting a new IDO record with a 24-hour TVL of over $100 million and a trading volume of $70 million.
MerlinStarter will launch its native token $MSTAR IDO tonight at 8 PM. Will $MSTAR become the gold standard of the Merlin ecosystem? Their in-house NFT, “Merlin’s Spellbook,” briefly surged to 0.1 BTC.
MerlinStarter, the first IDO platform on the Merlin Chain ecosystem, successfully concluded its first IDO project, MerlinSwap, on March 28th. The IDO attracted over 52,000 participants, oversubscribed by 400 times, and raised a staggering $480 million, breaking the IDO record.
The token $MP, issued during the IDO, quickly rose to ten times the subscription price on the first day, with a market value exceeding $300 million. This demonstrates the high level of attention and attraction the Bitcoin ecosystem, Merlin ecosystem, and MerlinSwap have in the market.
MerlinSwap breaks the blockchain IDO record. Source: TokenHunter X
Now, MerlinStarter will launch its native token $MSTAR on its platform tonight at 8 PM as the second IDO project. The subscription will continue until 11 AM on April 15th.
During this IDO, MerlinStarter will distribute 50 million $MSTAR tokens (5% of the total supply) with an initial FDV of $40 million across four pools. The following three pools will be open to users holding $BTC, $M-BTC, and $MP assets for subscription on their official website, as detailed below:
$BTC pool: 20 million $MSTAR tokens will be allocated; subscription price: 0.00000057 $BTC
$M-BTC pool: 20 million $MSTAR tokens will be allocated; subscription price: 0.00000058 $M-BTC
$MP pool: 5 million $MSTAR tokens will be allocated; subscription price: 5 $MP
The final allocation for each user will be calculated based on the ratio of their subscribed amount to the total subscribed amount in that particular pool. The specific formula is: Your allocation = specific pool allocation * your subscribed amount / total subscribed amount in that pool. Any remaining funds that are not subscribed will be automatically refunded to the user’s wallet, but it is important to actively claim the subscribed tokens.
Note: M-BTC refers to the liquidity certificate obtained by staking BTC on the Merlin Chain, different from simply cross-chain transferring Bitcoin to the Merlin Chain.
In addition, an additional 4,000 slots will be opened for the Community Pool, available to whitelisted users participating with BTC. The official whitelist includes 1,591 Radiance and 7,880 Sparkle users. Radiance whitelist users are guaranteed the opportunity to subscribe, while Sparkle whitelist users must follow the first-come, first-served principle and can purchase the remaining slots after Radiance users at 10 PM tonight.
Merlin Chain, in the Bitcoin L2 space, has the highest traffic and funds. Its TVL currently stands at $460 million. As the first and largest IDO platform in this ecosystem, MerlinStarter is expected to be the platform for future token issuances in the Merlin ecosystem. Therefore, the market has high expectations for MerlinStarter, backed by the popularity of the Bitcoin ecosystem, Merlin ecosystem, and IDO platform.
It is understood that $MSTAR is expected to become the core asset of MerlinStarter and the entire Merlin ecosystem. The token will serve as a “gold standard” in the ecosystem, enabling participation in new projects and IDOs. The following are the main functions of $MSTAR currently publicly disclosed by the official:
Exclusive IDO Pool Access: $MSTAR will be used in the upcoming exclusive IDO pool on MerlinStarter, allowing token holders to participate in IDO events tailored specifically for $MSTAR.
Staking Rewards: Token holders will have the opportunity to stake their $MSTAR tokens to earn token rewards and other incentives.
Airdrop Participation: $MSTAR token holders will have the chance to directly receive or have priority participation in airdrop events at various stages.
Furthermore, considering the immense success of the first IDO project, MerlinStarter launched 5,500 NFT assets called “Merlin’s Spellbook” in early April. This was one of the key criteria for qualifying for the Community Pool whitelist.
The opening price of these NFTs surged from 0.00000420 BTC to 0.1 BTC, an increase of approximately 24,000 times. For a week, its trading volume ranked first on the Element trading market. Currently, its market value is stable at around $5 million, with a floor price of 0.00998 BTC.
The official has announced the launch of an NFT staking activity, allowing users to stake these NFTs to receive $MSTAR token airdrops. Specific details of the staking will be announced in the future, and the airdrop will distribute 10% of the total supply.
$MSTAR Token Economy
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