Merlin Chain Unveils MERL: A Significant Advancement in Bitcoin Layer 2 Solutions

April 19th, 2024 — Merlin Chain, recognized as the leading Bitcoin Layer 2 protocol by total value locked (TVL), is excited to reveal the launch of its native currency, $MERL. This development significantly boosts the Bitcoin ecosystem, driving rapid advancements in decentralized applications (DApps) across various fields like decentralized finance (DeFi), gaming, and social media platforms.

Since the launch of its mainnet in February 2024, Merlin Chain has experienced phenomenal growth, amassing over $3.6 billion in TVL and nurturing a dynamic ecosystem featuring more than 200 native DApps. The introduction of $MERL represents a crucial turning point for the platform, providing improved governance, security, and opportunities for ecosystem growth for its users.

Stay updated on cryptocurrency distribution through our Airdrops Calendar .

$MERL Token Utilities and Features

$MERL, which operates on the Bitcoin-aligned BRC-20 blockchain standard, boasts a total supply of 2.1 billion tokens and is intricately designed to empower the community with various utilities. 

Holders of $MERL can influence the direction of Merlin Chain by voting on important proposals, actively participating in governance. Moreover, users have the option to stake $MERL, thereby enhancing network security and performance reliability. $MERL also streamlines payment of transaction fees within the Layer 3 enhancements. Community members are welcome to support the network operations through collator delegation or run their collators using $MERL tokens. Beyond that, $MERL functions as the primary liquidity and collateral asset, facilitating smooth transactions and sturdy lending mechanisms within the ecosystem.

$MERL Token Allocation

$MERL’s distribution will adhere to the following allocation rules:

Merlin’s Seal

20% of the overall supply of $MERL tokens will be airdropped to participants of the Merlin’s Seal The event showcased an impressive TVL of $3.6 billion, with 91% of this capital originating from the Bitcoin community, which includes $1.75 billion in BTC and $980 million in BRC-20 assets. This strong support from Bitcoin enthusiasts has been crucial in accelerating the growth and development of Merlin Chain in recent months.

Public and Private Sales

1% of the total distribution of $MERL tokens is set aside for a public sale via the People’s Launchpad, offering a chance for a diverse array of investors to join in. Additionally, 15.23% of the overall supply is reserved for private investors, who can acquire tokens on two different release schedules.

Advisors and Team

3% of the total $MERL token supply is designated for strategic advisors whose insights and assistance play a pivotal role in the project’s success, with a vesting calendar aligned with the growth of the platform. Furthermore, 4.20% is allocated for the dedicated core team as a recognition of their continuous efforts, ensuring they remain committed to the long-term success of the project through a structured vesting strategy.

Community and Ecosystem

16.57% of $MERL’s overall supply is earmarked for community rewards aimed at boosting engagement and participation within the ecosystem. Additionally, 40% of these tokens are distributed through grants and incentives focused on driving innovation and development on Merlin Chain.

$MERL will be allocated over a period of four years. 

All token allocations collectively empower the vibrancy and growth of Merlin’s platform by recognizing active community involvement and endorsing innovative projects that drive the expansion of the ecosystem.

$MERL Token’s Listing Schedule

Merlin Chain is gearing up for a defining moment with the imminent listings of its native token, $MERL, across several cryptocurrency exchanges.

$MERL, as a BRC-20 token, is poised to be the third of its kind to be featured on OKX . Deposits will commence on April 17, 2024, at 10:00 UTC; trading will kick off on April 19, and withdrawals will be available starting April 20.

Additionally, $MERL will make its debut as the inaugural new coin on Hashkey Global , following a trading schedule identical to that of OKX.

Noteworthy listings also include Bitget , where deposits are already accessible, and trading is planned for April 19. Other exchanges like Cryptocurrencylistings.com , Kucoin , WOO X , ByBit and BingX are coordinating with similar deposit and trading timelines.

This broad expansion into major exchanges highlights the impressive growth of Merlin Chain and the robust support from the community, which has been critical to its development. The leadership team at Merlin Chain expressed their appreciation for the community's involvement, emphasizing that these advancements mark only the beginning of their journey to 'Make Bitcoin Fun Again' and fully unlock Bitcoin's potential through pioneering Layer 2 solutions.

About Merlin Chain

Merlin Chain, a Bitcoin Layer 2 solution, aims to enhance Bitcoin's core assets, protocols, and products on Layer 1 via its innovative Layer 2 framework, aspiring to rejuvenate the excitement of Bitcoin usage. The integration of ZK-Rollup technology, a decentralized oracle network, and on-chain BTC fraud-proof mechanisms has led to the locking of over $3.5 billion in TVL within just 30 days of the mainnet launch. The team behind Merlin, Bitmap Tech, is a well-established player whose overall market cap exceeds $500 million. Their BRC-420 \"Blue Box\" collection is among the hottest assets circulating on Ordinals.

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