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Solana DeFi Project Mercurial to Relaunch As ‘Meteora,’ Replace MER Token

Decentralized finance (DeFi) trading project Mercurial plans to relaunch as “Meteora,” issue a new token to nearly all MER holders and expand its trading lineup in an aggressive attempt to distance itself from Sam Bankman-Fried’s fallen empire.

The stablecoin exchange’s planned rebrand has major ramifications for owners of MER, a token that has fallen 46% since FTX’s collapse. It is being abandoned in favor of the new Meteora token whose maximum supply is 100 million, 1/10th the mint of MER. Most MER owners will receive the new token in amounts proportional to their current holdings, according to plans reviewed by CoinDesk.

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