# Merkle Trade > Trade Crypto 150x Leverage Merkle Trade enables users to trade crypto, forex, and commodities with high leverage through a gamified perpetual DEX built on Aptos. Merkle Trade is a decentralized perpetual futures exchange built on Aptos that offers leveraged trading for cryptocurrencies, forex, and commodities using USDC as collateral. The platform features a gamified experience with a level-up system, loot boxes, and NFT rewards that provide trading benefits. It supports omnichain deposits through LayerZero integration, enabling EVM wallet users to deposit from multiple networks. All positions are executed against a liquidity pool that acts as counterparty to trades. - Type: Project - Sector: Finance - Status: Closed - Founded: 2023-04-01 - Profile: https://thegrid.id/profiles/merkle_trade ## Products - [Merkle Trade Exchange](https://thegrid.id/profiles/merkle_trade): Merkle Trade is a decentralized perpetual futures platform deployed on Aptos Mainnet that facilitates leveraged trading through synthetic positions against an integrated liquidity pool counterparty. The protocol implements smart contract-based order execution with keeper-processed orders using Pyth oracle price feeds for real-time market pricing. Users deposit USDC collateral to open long or short positions with high leverage on cryptocurrency pairs and forex pairs. Liquidity providers deposit USDC into the protocol's pool to receive MKLP tokens representing their proportional pool share, with token value fluctuating based on traders' cumulative profits and losses. The pool automatically compounds trading fee earnings, implements circuit breaker withdrawal limits, and distributes fees among liquidity providers, MKL token stakers, and protocol development. Platform access supports both Aptos-native wallets and EVM wallet integration via LayerZero for omnichain deposits from multiple networks. (Derivatives, Inactive/Support Ended, Main Product) - [MKL Staking](https://thegrid.id/profiles/merkle_trade): MKL Staking is a protocol governance mechanism enabling MKL token holders to stake tokens and receive weekly distributions of protocol fee revenue. Stakers earn proportional rewards from trading fees generated on Merkle Trade Exchange, distributed every epoch alongside liquidity providers and development funds. The staking system implements token lockup periods and automated reward distribution via smart contracts deployed on Aptos Mainnet. (Staking & Validation Services, Inactive/Support Ended) ## Assets - [Merkle Trade (MKL)](https://thegrid.id/profiles/merkle_trade): MKL is the utility and governance token of Merkle Trade, a decentralized perpetual futures exchange on Aptos. It is used for staking to earn weekly distributions from protocol trading fees and for voting on governance decisions. Holders stake MKL to receive proportional rewards from the exchange's fee revenue, creating direct alignment between token holders and platform trading activity. (Governance) - [Merkle Liquidity Provider Token (MKLP)](https://thegrid.id/profiles/merkle_trade): MKLP is a liquidity pool receipt token issued to liquidity providers on Merkle Trade, representing proportional ownership in the USDC-denominated pool that serves as the counterparty to all perpetual futures trades. It is used to track pool share value and redeem deposited liquidity along with accumulated trading fees. The token's value fluctuates based on trader profits and losses, meaning liquidity providers profit when traders lose and lose when traders profit, creating a direct risk-reward relationship between the pool and trading activity. (Vault Tokens) - [Escrowed MKL (esMKL)](https://thegrid.id/profiles/merkle_trade): esMKL is a non-transferable escrowed token representing unvested MKL rewards on Merkle Trade. It is used to earn protocol fees when staked, functioning similarly to standard MKL during the vesting period before conversion. The escrowed structure incentivizes long-term participation by requiring holders to vest their tokens over time to receive fully liquid MKL that can be traded or transferred. (Utility) ## Links - [Main](https://merkle.trade) - [Documentation](https://docs.merkle.trade) - [Terms of Service](https://merkle.trade/terms) - [Privacy policy](https://merkle.trade/privacy) - [Twitter / X](https://x.com/Merkle_Trade) - [Discord](https://discord.gg/merkle-trade) - [Telegram](https://t.me/merkle_trade_official) - [GitHub](https://github.com/merkle-trade) - [Medium](https://medium.com/@MerkleTrade) ## Legal This data is provided under two licensing models. Model 1 - open data. The open data core is licensed under the Open Database License (ODbL) — a copyleft/share-alike license allowing free use, modification, and sharing for any purpose. Attribution is required: include "Powered by The Grid" linking to https://thegrid.id wherever the data is used. Derivative databases must be shared under ODbL terms. Trademarks, logos, and brand names (marked "Special TPIP") are not covered by the ODbL. 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