Mintlayer, a layer-2 solution that aims to bring decentralized finance (DeFI) to Bitcoin, has changed the ticker for its ML Token from MLT to ML ahead of its upcoming token generation event (TGE) on March 21.
The ticker change reflects Mintlayer’s commitment to providing a simple and intuitive platform for its users. Mintlayer has made the change to create a new unique ticker for the upcoming token launch. With thousands of 3-letter ticker symbols and only a handful with 2-letter tickers, the special two-letter ticker will help differentiate the project from others on the market.
Mintlayer is not making any other changes to the token. All tokenomics and vesting schedules remain the same.
ML will have an initial unlocked token supply of 15,820,000 tokens at the TGE. The rest of the token supply is subject to vesting schedules of different lengths. Approximately 335,000,000 tokens will be unlocked after two years.
Mintlayer’s sidechain protocol provides users with trustless staking, lending, and borrowing to enhance DeFi interoperability with Bitcoin (BTC).
ML is Mintlayer’s utility token, and it will become the core of its product suite. The ticker change reflects Mintlayer’s commitment to providing a simple and intuitive platform to help simplify branding across the upcoming elements of the ecosystem.
Gate.io, one of the world’s largest centralized cryptocurrency exchanges worldwide by volume, will list the ML Token on March 21 and the token will become available for public trading on the exchange on March 23.
About Mintlayer Mintlayer is a sidechain that will allow users to build a decentralized finance ecosystem on top of the Bitcoin blockchain. The layer-2 solution opens the Bitcoin blockchain to DeFi, smart contracts, atomic swaps, non-fungible tokens (NFTs) and apps. It will provide a platform to create projects with real-world financial use, paving the way for the development of DeFi projects in the Mintlayer ecosystem.