27 Oct 2021 · 5 min read

Merkle Network Plans TrustSwap FlashLaunch, Looks to Power Layer-Zero Interoperability

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It's now been over twelve years since the birth of Bitcoin. And that also means that blockchain technology has been around for at least that long, too. But blockchains have come quite a long way since then. Beginning with Bitcoin's proof-of-work implementation with its inherent limitations and inability to scale, all the way to the multipurpose Ethereum blockchain and its competitors - there's been an awful lot of development over the years.

But all that development has created a problem: fragmentation. Today, there are hundreds – if not thousands – of blockchains in operation. And most of them operate within silos, trapping their users within their closed ecosystems. The issue has forced blockchain developers to tie their projects' fortunes to one blockchain or another and to accept whatever tradeoffs that decision entails.

It's a situation that's begging for a solution. And that's just what Merkle Network hopes to provide. It's a new Web 3.0 blockchain interoperability protocol built to bridge the divide between some of today's most popular blockchains. It aims to allow developers to build true cross-chain applications that move data and assets seamlessly between their blockchains of choice.

But before the protocol goes live, its developers plan to hold a FlashLaunch with the popular launchpad platform TrustSwap on October 28th ­­­at 1 PM UTC. The goal is to get the protocol's native token $MERKLE into the hands of users in advance of a testnet launch that's currently scheduled for November. Here's a bit about the project to explain why it could be a game-changer for developers, and information on how to participate in the upcoming FlashLaunch.

How Merkle Network Works

Merkle Network is a layer-zero protocol that enables cross-chain communications in a novel way. It relies on oracles that can bridge the gap between blockchains, translating data and passing it on to its ultimate destination. In that way, the protocol allows developers to seamlessly move data and assets from one blockchain to another within their applications. In effect, this creates a networking solution that connects multiple blockchains into one big processing network – integrating the strengths of each blockchain into one all-purpose solution.

At the time of this writing, Merkle Network works with the Ethereum, Avalanche, Binance Smart Chain, and Polygon blockchains. That gives it access to the most popular apps and the largest pool of blockchain developers in the world. Its developers hope to enable a new generation of blockchain applications that are free from the limitations imposed by the siloed operations of the past. More information about it can be found in Merkle Network’s whitepaper.

Introducing the $MERKLE Token

At the center of Merkle Network's operation lies its native $MERKLE token. It's a token that plays multiple roles within the project. Its most important function is as the main transaction currency for users of the protocol. It's how users will pay for the gas fees associated with the cross-chain data operations. But it also serves a few other critical functions as well.

One of them is that it powers a staking system that provides an incentive for the network's node operators to remain online and process data. It also helps to guarantee that those operators won't do anything to alter or interfere with the transactions passing through their nodes. And for the network writ large, the $MERKLE token also provides a governance function, allowing holders to have a say in decisions pertaining to the project.

The Merkle Network FlashLaunch

To get the Merkle Network up and running, its developers are planning to hold a FlashLaunch on October 28th at 1 PM UTC. Its purpose is to raise funds for the project as well as to get the $MERKLE token out into the marketplace before the launch of a testnet. Right now, the Merkle Network's developers have stated that their internal protocol testing is complete and that they expect the testnet to follow shortly after the FlashLaunch event. They're aiming for the testnet to go live sometime in November, marking the first major step toward a full launch in the future.

And to help get their project additional exposure to the market, Merkle Network is working with the noted crypto launchpad platform TrustSwap. The latter is going to manage the execution of the FlashLaunch, and provide 560 individual $250 allocations of $MERKLE via a random drawing of participating users. Interested parties must register for the event through TrustSwap, and must have 4,000 or more of the platform's $SWAP tokens staked by the time of the event, or have a SwapScore of at least 2,500 from their prior staking activity. In exchange, they'll receive two tickets for the allocation drawing.

Those looking to improve their odds have some options, too. First, they can increase their $SWAP stake to receive more drawing tickets. This is possible up to a maximum of 20 tickets for those with stakes of 250,000 $SWAP or more. Users can also participate in an auction beginning on October 27th at 1 PM UTC to win one of five Merkle Golden Ticket NFTs. Owning one guarantees the bearer an automatic $500 allocation of $MERKLE during the event on top of their chance to win the main drawing. That makes it possible for an individual to end up with the maximum allocation of $750 for the FlashLaunch.

Beside TrustSwap’s FlashLaunch, Merkle Network is scheduled to launch on TrustPad on October 29th, just a day after and seeing its successful launch on Avaxlauncher a week ago, Merkle Network is paving its way towards mass adoption of the protocol across blockchains.

A Major Breakthrough for Developers

Although the complete launch of the Merkle Network's protocol is still a ways off, it still represents a major breakthrough for blockchain developers everywhere. It means they'll soon have a viable option to enable cross-chain interoperability, unleashing their creativity and drawing the crypto community closer together. That's an outcome that bodes well for the future of the blockchain, as well as for everyone that uses it. And it's a sign that points toward a harmonious future where multiple blockchains will work together to create the next generation of game-changing apps and services – and that's no small thing.