HTX to Distribute the First Airdrop (MERL) for LRS-BTC Holders at Liquid Restaking
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Dear HTX Users,
HTX is excited to airdrop the first batch of rewards you earn from Liquid Restaking, i.e. millions of MERL tokens provided by the Merlin Chain project. This upcoming MERL airdrop is exclusive to the LRS-BTC holders, specifically 50% of your LRS-BTC points will be redeemed as MERL tokens, with the remaining portion to be distributed in BounceBit tokens. Please note the MERL tokens will be automatically airdropped to eligible users' Spot accounts in April, which requires no manual action on your part. To facilitate your future reward claims, LRS points will be upgraded to corresponding project points, and redemption will be supported on the event page. Please stay tuned for further announcements.
HTX's MERL Airdrop Rules:
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)
Airdrop Eligibility: Users participating in HTX Liquid Restaking from February 29, 2024, to April 14, 2024, at 16:00 (UTC) and receiving LRS-BTC points.
Individual Airdrop: MERL to be airdropped to an eligible user = User's LRS-BTC points received during the event by April 14 * 0.5 / Redemption Ratio.
Vesting Rules: 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.
Airdropping MERL tokens, accounting for 50% of the total airdrop, will begin today and MERL will be gradually credited to your spot account within three days. Please keep a lookout for your spot account.
Example:
User A enabled BTC for Liquid Restaking and received 300, 200, and 100 LRS-BTC points respectively on February 29, April 14, and April 16 based on the BTC balances in their account.
After three days, on April 18, User A received a total of 500 LRS-BTC points (300 points for February 29 and 200 points for April 14.) The points for April 16 are not counted towards the MERL airdrop, but they can still be redeemed for other project airdrops).
User A will receive MERL tokens as follows:
- Total Amount: 500 LRS-BTC * 50% / 3.5089 = 142.5 MERL
- MERL Unlocked in April: 142.5 MERL* 50% = 71.25 MERL
- MERL Unlocked in May: 142.5 MERL * 25% = 35.62 MERL
Continue engaging in Liquid Restaking with your account balance snapshotted, and you will earn more airdrops from popular projects such as BounceBit, EigenLayer, Puffer, etc.
Please stay tuned for upcoming additional airdrop rewards. Greater airdrops come with earlier participation!
How to participate in HTX Liquid Restaking: Click here to join now>>>
About HTX Liquid Restaking:
Users can register for Liquid Restaking with their spot and futures account balances snapshotted to earn rewards, including cryptos and early airdrops of popular projects such as EigenLayer, Merlin Chain, etc. You can choose to join a team to get a boost on your rewards.
Rewards you can expect to receive:
- EigenLayer's initial airdrop (A trending Ethereum restaking project with TVL of over $14.7 billion)
- Puffer's initial airdrop (A trending Ethereum restaking project with TVL of over $1.3 billion)
- Merlin Chain's initial airdrop (A Bitcoin Layer 2 solution with TVL of over $3.2 billion)
- BounceBit's initial airdrop (A Bitcoin staking chain with TVL of over $1 billion)
- Crypto rewards, such as ETH, USDT, HTX, and TRX
*Event rewards will be distributed in various LRS points. You can redeem these points for corresponding cryptocurrencies after the designated projects distribute airdrops.
* Risk Reminder: HTX Liquid Restaking is a service introduced by HTX, allowing users to participate in Restaking projects on the blockchain for rewards. Specifically, the platform stakes assets enabled by users in corresponding projects and helps them earn rewards. The platform conducts rigorous screening of Restaking projects across various dimensions, including smart contract security audits, code reviews, team composition, Total Value Locked (TVL), etc. Due to the increasing participating amount, the platform will no longer be liable for losses of assets you've enabled for the event, resulting from abnormal risk events such as smart contract vulnerabilities in on-chain projects, hacker incidents, suspension or termination of services by third-party platforms, or business closures. Assets that you've not enabled or have already exited HTX Liquid Restaking will remain unaffected in the event of on-chain risks.
Terms & Conditions:
1. HTX reserves the right to modify the terms of the feature and rewards. Please stay updated with the official announcements for any changes.
2. HTX is not liable for losses of assets you've enabled for the event, resulting from abnormal risk events such as smart contract vulnerabilities in on-chain projects, hacker incidents, suspension or termination of services by third-party platforms, or business closures. Assets that you've not enabled or have already exited HTX Liquid Restaking will remain unaffected in the event of on-chain risks.
3. Participants who are found to be involved in any fraudulent behaviors, including but not limited to money laundering, manipulation of multiple accounts, and self-trading, will be disqualified. HTX reserves the right to freeze the cheating accounts, confiscate any gains from the fraudulent behaviors, and impose other penalties as necessary.
4. HTX reserves the right for final interpretation of this event and the right to amend, change or cancel this event at any time.
5. Due to local compliance requirements, users from some countries and regions are not eligible to participate in this event. Please refer to HTX User Agreement for details.
6. The above is for information purposes only and HTX makes no recommendations or guarantees in respect of any virtual asset, product, or promotion on HTX.
HTX Team
April 21, 2024
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HTX reserves the right in its sole discretion to amend or change or cancel this announcement at any time and for any reasons without prior notice. The above is for information purposes only and HTX makes no recommendations or guarantees in respect of any virtual asset, product, or promotion on HTX. Prices of virtual assets are highly volatile and trading virtual assets involves risk. Please read our Risk Reminder text here.
