How to participate in the Mercurial Sale

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THE MERCURIAL FINANCE IEO AND MER ARE NOT BEING OFFERED IN THE UNITED STATES OR TO ANY U.S. PERSONS. IF YOU ARE LOCATED IN, INCORPORATED OR OTHERWISE ESTABLISHED IN, OR A RESIDENT OF THE UNITED STATES OF AMERICA, YOU ARE NOT PERMITTED TO PARTICIPATE IN THE MERCURIAL IEO OR TO PURCHASE ANY MER TOKENS.

 

Prepare for the IEO

Take a moment to familiarize yourself with Mercurial or scroll to the bottom of this article.

 

Note: Any user who does not stake 150 FTT by 9 PM SGT, May 12th will NOT be allowed to participate in this IEO. Additionally, any user who has not been approved to at least KYC level 2 will NOT be allowed to participate in this IEO.

 

Details and guide: https://ftx.com/mer-ieo 

 

In order to bid during the IEO, make sure you read the rules below and do the following beforehand:
    1. Register your FTX account and submit KYC level 2. Due to a large inflow of new sign-ups, any account that signs up past 9PM SGT  May 4th 2021 will not be guaranteed entry into the IEO.
    2. There is no guarantee of your right to participate in the IEO or to receive any allocation.
    3. Set an alarm in advance: the IEO starts at 9 PM SGT, May 13th.
    4. Prepare funds to bid: at least 400 USD(T), and at most 500 USD(T) and 5 FTT per ticket for 4,000 MER. 
    5. You will have one hour to bid: between 9 PM SGT, May 13th and 10 PM SGT, May 13th.
    6. Trade and buy FTT to lock in your additional ticket allotment 24 hours before the IEO. This means before 9 PM SGT, May 12th.
    7. Await Results
      • There are 1,000 accepted tickets, each ticket for 4,000 MER (so 4,000,000 MER tokens total). At 10 pm SGT  we’ll raffle off the allocations. The minimum bid is $400 ($0.1 per MER) and the maximum bid is $500 + 5 FTT ($0.125 per MER + 5 FTT). They will go to the highest bidders; in the event that there are over 1,000 tickets each bidding US $0.125 per MER + 5 FTT, we’ll allocate randomly between them. 
      • Within a few hours of determining the allocations, the trades will print to the winning buyers’ subaccounts, and they will be able to transfer (non-MER) funds out of the MER-IEO subaccount.
        • If you do not win your funds will be returned
        • If you bid FTT but would have won the auction without it, the FTT will be returned
        • All FTT paid will be burned

 

Rules for Bidding 

Each bid ticket, if filled, will result in a trade: you pay your bid price and receive 4,000 MER. You can enter the number of tickets you would like to submit. Each ticket is an additional entry for another 4,000 MER tokens; several could theoretically be filled.

  • Any user who is qualified for the IEO (account is approved to at least KYC level 2 and has 150 FTT staked) will receive 1 ticket. You may be able to purchase additional tickets based on additional FTT staked above the minimum staking requirement

FTT staked on May 12th, 2021

  • >= 150: 1 ticket
  • >= 1,000: 2 tickets
  • >= 10,000: 3 tickets
  • >= 50,000: 4 tickets
  • >= 250,000: 5 tickets
  • >= 1,000,000: 6 tickets

Please take note of the following:

  • FTT staked will be summed across all your ftx.com subaccounts.
  • Your maximum number of tickets gets locked in based on amount staked 24h before the IEO. We will indicate on this page what numbers are final a few hours after that.
  • Please carefully review our Terms of Service, especially as they pertain to trading activity and KYC submission

 

Conditions
  • All participants agree to abide by the FTX Terms of Service and the Token Terms.
  • Any participants found violating the FTX Terms of Service or Token Terms will be disqualified.
  • FTX reserves the right to amend the Terms and Conditions of this IEO without prior notice.
  • Multiple entrants from a single trader are strictly prohibited and will result in disqualification.
  • US residents or residents of any FTX restricted jurisdiction are strictly prohibited.
  • Reselling purchased MER to a resident of the US or any restricted jurisdiction is strictly prohibited.

 

THE MERCURIAL FINANCE IEO AND THE MER TOKENS ARE NOT AND WILL NOT BE OFFERED IN THE UNITED STATES OR TO ANY U.S. PERSONS (AS DEFINED IN REGULATION S PROMULGATED UNDER THE U.S. SECURITIES ACT OF 1993, AS AMENDED). PARTICIPATION IN THE MERCURIAL IEO AND ALL TRANSACTIONS IN MER TOKENS ARE SUBJECT TO THE TOKEN TERMS.

 

WHAT IS MERCURIAL?

Mercurial is building DeFi’s first dynamic vaults for stable assets on Solana, providing the technical tools for users to easily deposit, swap and mint stable assets.

 

Overview

The MER token is designed to accrue value for the holder via fees from swaps, commission from yield farms, and as collateral for synthetic stables like mUSD. MER is also intrinsically linked to the governance and growth of Mercurial, playing a crucial role in regulating the system across governance, insurance, and bootstrapping.

 

FAQ

What sub account do I need to stake FTT in?

FTT holdings are calculated account wide, so they can be staked in any sub account on FTX.

Can I just have a high trade volume without staking FTT?

No, for this IEO users must have a minimum of 150 staked in order to be granted at least one ticket. 

 

Token Details

Project Name: Mercurial Finance

Ticker: MER

Total Supply: 1,000,000,000

Circulating Supply upon listing: ~45,000,000

Protocol: SPL (Solana) token, 

 

Official Website: https://www.mercurial.finance/

Telegramhttps://t.me/MercurialFi

 

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