Merkle Trade
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Merkle Trade V2

Merkle V2 is the next step into further gamifying the activity on the platform. The main updates are:
  • Trading Seasons
  • Ability to 'loot' the loot boxes
  • Ability to use/equip items found in the boxes
  • MKL trading incentives & pMKL

Trading Seasons

Starting from V2 launch, we're rolling out trading seasons. Each season lasts 4 weeks. During the season users can engage in trading activity collecting XP, loot boxes and pMKL tokens. At end of each season pMKL tokens are converted to MKL and user levels are normalized.
pMKL is dropped on every trade in proportional to the volume of the trade and the fee rate for the pair.
pMKL dropped = vol × avg fee ratepair× (item modifiers)×5pMKL\ dropped\ =\ vol\ \times\ avg\ fee\ rate_{pair} \times\ (item\ modifiers) \times 5
  • Season duration is 4 weeks
  • A pre-detemined amount of MKL is allocated for each season reducing with every season.
  • pMKL-MKL conversion rate is determined by the amount of pMKL mined throughout the season.

Loot Box Items

Items that can be found in loot boxes are: Gears, Shards and Merkle Dust.

Gears

Items discovered within loot boxes are referred to as gears, classified into three distinct types. Each gear type is tailored to enhance a particular facet of activity on Merkle Trade, amplifying specific aspects within the platform.

Gear types and their Effects*

  • Mining Tool: pMKL reward boost +x%
  • Helmet: XP earn +x%
  • Suit: Trading fee discount by x%
*Gear Effects could be changed in the future upon teams discretion or based on the goverance decision.

Salvage, Shards & Merkle Dust

  • Items can be salvaged to receive Merkle Shards which can be used for item repair or synthesis.
  • The amount Merkle Shards received from salvaging an item
  • Merkle Dust is the material necessary for gear repairs and obtained from loot boxes and salvaging

Durability & Repairs

  • Every item comes with a maximum durability of 100.
  • When equipped, an item's durability decreases steadily at a rate of [100/21] point per day (21 days before it loses all its durability points.
  • An item will lose [10] point of its durability when it's unequipped.
    • This rule is in place to prevent the exploit of equipping and unequipping items right before and after trading.
  • Items can be repaired with Merkle Shards.