{"id":72015,"date":"2022-12-27T20:48:34","date_gmt":"2022-12-27T18:48:34","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=72015"},"modified":"2025-09-08T12:25:34","modified_gmt":"2025-09-08T09:25:34","slug":"defi-project-mercurial-rebrands-as-meteora-to-distance-itself-from-ftx","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/defi-project-mercurial-rebrands-as-meteora-to-distance-itself-from-ftx\/","title":{"rendered":"DeFi project Mercurial rebrands as Meteora to distance itself from FTX"},"content":{"rendered":"<p>Mercurial, a non-custodial exchange focused on stablecoins, has rebranded to Meteora in an effort to distance itself from the collapsed exchange FTX.<\/p>\n<p><!--more--><\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">1\/ Announcing The Meteora Plan: Our comprehensive technology and token plan with the singular goal of building a long-term, sustainable, and composable yield layer for Solana. <a href=\"https:\/\/t.co\/PiV4s1VmH0\">pic.twitter.com\/PiV4s1VmH0<\/a><\/p>\n<p>\u2014 Mercurial Fi (@MercurialFi) <a href=\"https:\/\/twitter.com\/MercurialFi\/status\/1607753313872924675?ref_src=twsrc%5Etfw\">December 27, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Developers have also changed the MER tokens on Solana accordingly. Of the 100 million issued, 20 million will be in circulation, and 80 million will be placed under the management of <a href=\"https:\/\/forklog.com\/en\/news\/what-is-a-dao-decentralised-autonomous-organisation\">DAO<\/a>.<\/p>\n<p>The project&#8217;s blog <a href=\"https:\/\/blog.mercurial.finance\/unveiling-the-meteora-plan-8b4164d8a5a5?gi=d46064e1d0e1\">states<\/a> that there was a &#8216;huge amount of MER involved in FTX&#8217;. The latter conducted the token sale for Mercurial Finance&#8217;s project coins in May 2021. The project received funding from Alameda Research, the Solana Ecosystem Fund, OKEx and Huobi.<\/p>\n<blockquote class=\"twitter-tweet\" data-conversation=\"none\">\n<p lang=\"en\" dir=\"ltr\">4\/ But a new tech platform is not enough. <\/p>\n<p>In light of the events around FTX\/Alameda, we need a token reset to ignite user interest, build up market confidence and set the foundations, community &#038; ecosystem-wise, for our project to succeed long-term.<a href=\"https:\/\/t.co\/RLRvVz48cS\">https:\/\/t.co\/RLRvVz48cS<\/a><\/p>\n<p>\u2014 Mercurial Fi (@MercurialFi) <a href=\"https:\/\/twitter.com\/MercurialFi\/status\/1607753320369893383?ref_src=twsrc%5Etfw\">December 27, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cIn light of the events around FTX\/Alameda, we need a token reset to ignite user interest, bolster market confidence, and build communities and ecosystems for our project&#8217;s long-term success,\u201d wrote Meteora representatives.<\/p>\n<\/blockquote>\n<p>Against the backdrop of dramatic events in recent months, the MER token has fallen by more than 46%.<\/p>\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"824\" height=\"466\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/Mer.png\" alt=\"Mer\" class=\"wp-image-194450\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/Mer.png 824w, https:\/\/forklog.com\/wp-content\/uploads\/Mer-300x170.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/Mer-768x434.png 768w\" sizes=\"auto, (max-width: 824px) 100vw, 824px\" \/><figcaption>Data: <a href=\"https:\/\/www.coingecko.com\/en\/coins\/mercurial\">CoinGecko<\/a>.<\/figcaption><\/figure>\n<p>On November 11, the FTX Group, which includes 130 legal entities, <a href=\"https:\/\/forklog.com\/en\/news\/ftx-group-files-for-bankruptcy-sam-bankman-fried-resigns-as-ceo\">filed for bankruptcy<\/a>.<\/p>\n<p>Read ForkLog&#8217;s bitcoin news on our <a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"nofollow noopener\">Telegram<\/a> \u2014 cryptocurrency news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Mercurial, a non-custodial exchange focused on stablecoins, has changed its name to Meteora in an attempt to distance itself from the collapsed FTX.<\/p>\n","protected":false},"author":1,"featured_media":72016,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1093,1236,816],"class_list":["post-72015","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-defi","tag-ftx","tag-rebranding"],"aioseo_notices":[],"amp_enabled":true,"views":"27","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/72015","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=72015"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/72015\/revisions"}],"predecessor-version":[{"id":72017,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/72015\/revisions\/72017"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/72016"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=72015"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=72015"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=72015"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}