After the FTX Crisis, Protocol Mercurial based in Solana is renamed ‘Meteora.
Key Points: In an aggressive effort to recover the crisis caused by FTX Mercurial aims at relaunching as “Meteora”, issuing a new token to virtually all MER holders and increasing its trading selection.
Meteora, a Solana-based cryptosystem, is the latest to reinvent itself in the blazing ruins Alameda Research and the FTX.
Meteora’s dynamic vaults are also being introduced by the group. These vaults are able to generate revenue by charging performance fees, while still allowing customers money to be easily accessed and maximizing their yield every minute.
The Mercurial decentralized finance (DeFi), trading project, intends to relaunch itself as “Meteora” in a determined effort not to be associated with Sam Bankman-Fried’s crumbling businesses. It will also introduce Meteora’s dynamic vaults, AMMs, and other features. These vaults will make funds by charging performance fees. They will keep customer funds accessible, aggregate and optimize yield every minute, and they will keep customer funds available. There will be 100,000,000 Meteora tokens. 20% of them will be fully liquid and available for circulation, while the DAO will manage the remaining 80%. The DAO will not approve any increase in the circulating supply or emissions of Meteora tokens. 20% will be fully liquid and 20% will be managed by the DAO. Sam Bankman-Fried’s crypto exchange and hedge fund were the kingmakers, as they were both market-makers and venture capitalists in the Solana DeFi environment. Nearly all Solana-based trading protocols have been destroyed by their deaths, including Mercurial which released its token through a sale managed FTX. We encourage you to do your own research before investing.Join us to keep track of news: https://linktr.ee/coincuWebsite: coincu.comHaroldCoincu NewsTags: AlamedaFTXMercurialMeteoraSam Bankman-FriedSolana