Stablecoin DEX Mercurial is rebranding to Meteora in an attempt to distance itself from FTX. 

Mercurial, which provides liquidity for major stable and pegged assets on Solana, said it will replace its MER tokens with Meteora tokens. Out of a supply of 100 million Meteora tokens,  20% will circulate and be and fully liquid, while 80% will be given to the DAO to manage. 

There were "vast amounts of MER involved in FTX," Mercurial Fi said, noting FTX had hosted Mercurial's token sale in 2021. "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 & ecosystem-wise, for our project to succeed long-term," it said on Twitter.