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 $BTC Pool, $M-BTC Pool, $MP Pool, and Community Pool. The IDO subscription will be open until April 15th.
Background:
MerlinSwap, the first IDO project of the Merlin Chain ecosystem, ended on March 28th. It attracted over 52,000 addresses and raised 400 times more than the target amount, reaching $480 million, breaking the IDO record.
The token $MP, which was issued during the IDO, surged ten times its subscription price on the first day, with a market value exceeding $300 million. This demonstrates the high attention and attractiveness of the Bitcoin ecosystem, Merlin ecosystem, and MerlinSwap in the market.
MerlinSwap breaks the record for blockchain IDO. Source: TokenHunter X
Now, MerlinStarter announces that it will launch its native token $MSTAR on its platform tonight at 8 PM. The subscription period will last until 11 AM on April 15th.
During this IDO, MerlinStarter will distribute 50 million $MSTAR tokens (5% of the total supply of 1 billion tokens). The initial FDV (Fully Diluted Valuation) is $40 million, and the tokens will be allocated to four pools. The following three pools will be open for subscription to users holding $BTC, $M-BTC, and $MP assets on their official website:
$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 between their subscription amount and the total subscription amount of the pool. The formula is: Your allocation = specific pool allocation * your subscription amount / total subscription amount of the pool. Any remaining funds that were not subscribed will be automatically refunded to the user’s wallet. However, users must actively claim the subscribed tokens.
Note: M-BTC is a liquidity certificate obtained by pledging BTC to the Merlin Chain, different from simply cross-chain Bitcoin to the Merlin Chain.
In addition, an additional 4,000 slots will be opened in the Community Pool for whitelist users to participate with BTC. The official whitelist has been announced, including 1,591 Radiance users and 7,880 Sparkle users. Radiance whitelist users are guaranteed the opportunity to subscribe, while Sparkle whitelist users will need to follow a first-come, first-served principle to purchase the remaining slots after Radiance users have subscribed, starting from 10 PM tonight.
In the Bitcoin L2 ecosystem, the Merlin Chain has the highest traffic and funds. Its TVL (Total Value Locked) currently reaches $460 million. As the first and largest IDO platform in this ecosystem, MerlinStarter is expected to become the platform for future token issuance of new projects in the Merlin ecosystem. Therefore, MerlinStarter, backed by the popular narratives of the Bitcoin ecosystem, Merlin ecosystem, and IDO platform, is highly anticipated to break its own IDO record again.
It is expected that $MSTAR will become the core asset of MerlinStarter and the entire Merlin ecosystem. This token will serve as the “golden shovel” in the ecosystem, used for participating in new projects and joining other IDOs. The following are the main functions of $MSTAR currently disclosed by the official:
Exclusive IDO Pool Access: $MSTAR will be used for 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 access to different stages of airdrop events.
Furthermore, considering the huge 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 to qualify 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 consecutive week, it ranked first in trading volume 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 that an NFT staking activity will be launched, allowing users to receive $MSTAR token airdrops by staking these NFTs. The specific staking details will be announced later, and the airdrop will distribute 10% of the total supply of tokens.
$MSTAR Token Economy
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MerlinStarter, the leading launchpad platform in the Merlin ecosystem, launches its first IDO project “MerlinSwap” on March 25th.