Mercury Coin is an Algorand Standard Asset (ASA) found on the Algorand blockchain and will be used as a currency across the Mercury Labs platform. Mercury Coin will be:
The only currency used for the sports betting platform's initial iterations.
The exclusive currency for the NFT, event ticket, and game ticket marketplaces.
Used for governance across the platform by allowing the community to vote on product and community direction.
Mercury Coin ASA has clawback and freeze enabled due to anticipation of legal requirements at this time. As Mercury Labs consults further legal advice, clawback and/or freeze will be disabled if possible.
How to Obtain
Mercury Coin is not yet available to the public; however, once all ICOs are complete and the liquidity pool has been launched, obtaining access to Mercury Coin will be as simple as:
Navigating to the liquidity pool and buying Mercury Coin
Releasing the Coin
The events leading up to the coin's release, in order, will be:
Liquidity pool launch
ICO coin unfreeze
Any Mercury Coins purchased during an ICO will be distributed, but will be frozen until all ICOs are complete and the liquidity pool is launched! This measure is put in place to prevent:
Someone outside Mercury Labs from influencing the price of Mercury Coin before/during ICOs
Someone from launching a Mercury Coin liquidity pool with low liquidity
Low liquidity levels in a liquidity pool lead to severe fluctuations in swap rates between cryptocurrencies. Conversely, high liquidity means heavy price swings are less likely.
Mercury Coin is an ASA with utility and is not meant for hoarding or price manipulation. Once KYC for our platform is live, we'll be able to offer whale-protection for our ICOs by limiting the amount of Mercury Coin any one person can purchase.