HTX’s innovative Liquid Restaking event is firing on all cylinders, with the distribution of millions of MERL tokens from the first project reward pool – Merlin Chain (MERL). This MERL airdrop is exclusive to the LRS-BTC holders in the event, specifically 50% of participants’ LRS-BTC points are redeemed as MERL tokens, with the remaining portion to be distributed in BounceBit tokens. As of press, the initial 50% of MERL tokens users earned from the event were fully airdropped to winners’ Spot accounts on April 22.
Get ready for upcoming airdrops from exciting projects like BounceBit, EigenLayer, Puffer, and more by joining Liquid Restaking now! HTX will be adding even more airdrop rewards soon to Liquid Restaking, so early participants can maximize their gains.
HTX Follows Same On-chain Distribution Rules for MERL Rewards with Initial 50% Airdrop in April
Who gets rewards from this airdrop? Anyone who participated in HTX Liquid Restaking and earned LRS-BTC points between February 29 and April 14, 16:00 (UTC) qualifies for the airdrop.
Vesting Rules and Redemption Ratio
Rules of HTX’s MERL airdrop are subject to Merlin Chain airdrop rules: Investors who stake BTC in the Merlin Chain restaking will receive the project points daily by April 14, 2024, which can be redeemed for MERL tokens. The airdropped tokens will be unlocked in batches: 50% in the first month, 25% in the second month, and then unlocking will be completed over six months with 12.5%/6.25%/3.125%/3.125% distribution.
Redemption Ratio at HTX Liquid Restaking: 3.5089 LRS-BTC = 1 MERL (Rewards from 1 BTC staked per day ≈ 142.5 MERL). Individual Airdrop: MERL to be airdropped to an eligible HTX user = User’s LRS-BTC points received during the event by April 14 * 0.5 / Redemption ratio.
Simpler Participation in HTX Liquid Restaking with Same High Rewards as On-chain Restaking
Currently, the airdrop rewards through HTX Liquid Restaking closely mirror on-chain rewards. For example, enabling 2 BTC for HTX Liquid Restaking is like staking 1 BTC in Merlin Chain and 1 BTC in BounceBit. With a 1,000-point-per-day distribution, you’d get 500 points from Merlin Chain (with 1 BTC) daily, translating to roughly 142.5 MERL tokens a day. For on-chain restaking, 1 BTC yields around 142.8 MERL tokens per day. The two restaking methods result in similar APRs: 88.02% and 88.24%, respectively.
Please note the timing of future reward redemption will depend on the on-chain project’s initial airdrop schedule. According to HTX’s official announcement, to facilitate users’ future reward claims, LRS points will be upgraded to corresponding project points, and redemption will be supported on the event page.
HTX to Unmask Additional Airdrops at Liquid Restaking: Greater Airdr
This news story relied on a press release distributed by News Direct. Blockchain Registration, Verification & Enhancement provided by NewsRamp™. The source URL for this press release is HTX Liquid Restaking Airdrops Millions of MERL Tokens – More Rewards on the Horizon.