Merlin Chain Launches Native Token, $MERL, to Fuel Bitcoin Ecosystem Growth

Merlin Chain, the foremost Bitcoin Layer 2 protocol by TVL, unveils its native token, $MERL. This significant addition to the Bitcoin network enables rapid growth of DApps in DeFi, gaming, and social platforms. Since its mainnet launch in February 2024, Merlin Chain has garnered $3.6 billion in TVL and fostered a vibrant ecosystem with over 200 native DApps. The introduction of $MERL empowers users with enhanced governance, security, and ecosystem development opportunities.

Merlin Chain Unveils Its Native Token, $MERL: Fueling Growth and Empowering the Bitcoin Ecosystem

Introduction

Merlin Chain, the leading Bitcoin Layer 2 protocol by total value locked (TVL), has announced the launch of its native token, $MERL. This significant milestone marks a new chapter for Merlin Chain, enhancing its governance capabilities, security, and ecosystem development.

Background on Merlin Chain

Since its mainnet debut in February 2024, Merlin Chain has experienced remarkable growth, amassing over $3.6 billion in TVL and fostering a thriving ecosystem with more than 200 native decentralized applications (DApps) across various sectors, including decentralized finance (DeFi), gaming, and social platforms.

Introducing $MERL

$MERL is a meticulously designed token operating under the Bitcoin-compatible blockchain standard BRC-20. It empowers the Merlin Chain community through a range of utilities:

Governance

Token holders can actively participate in the governance of Merlin Chain by voting on critical proposals, shaping the network's future.

Security

Staking $MERL enhances the security of the network, ensuring reliable performance.

Transaction Fees

$MERL facilitates the payment of transaction fees within the Layer 3 enhancements.

Collator Operations

Community members can support network operations through collator delegation or operate their collators using $MERL tokens.

Liquidity and Collateral

$MERL serves as native liquidity and collateral, enabling seamless transactions and robust lending mechanisms within the ecosystem.

$MERL Token Allocation

The total supply of 2.1 billion $MERL tokens will be allocated as follows:

Merlin's Seal

20% of the tokens will be airdropped to participants of the Merlin's Seal event, which showcased an impressive TVL of $3.6 billion, with 91% coming from the Bitcoin community.

Public and Private Sales

1% of the tokens will be allocated for public sale, and 15.23% for private investors.

Advisors and Team

3% of the tokens are reserved for strategic advisors, and 4.20% for the core team.

Community and Ecosystem

16.57% of the tokens are allocated for community rewards, grants, and incentives to stimulate development and innovation on Merlin Chain.

$MERL Token Listing Schedule

$MERL will be listed on multiple crypto exchanges, including OKX, Hashkey Global, Bitget, Gate.io, Kucoin, WOO X, ByBit, and BingX. The listing schedule is as follows:

OKX

• Deposits: April 17, 2024, at 10:00 UTC
• Trading: April 19
• Withdrawals: April 20

Hashkey Global

• Trading: April 19

Deposit Schedule for Other Exchanges

• Bitget: Deposits open
• Gate.io: Aligned with OKX
• Kucoin: Aligned with OKX
• WOO X: Aligned with OKX
• ByBit: Aligned with OKX
• BingX: Aligned with OKX

Significance of $MERL

The launch of $MERL marks a pivotal moment for Merlin Chain, providing the community with a valuable asset that empowers them to shape the network's future, enhance its security, and participate in its ecosystem's growth.

Conclusion

Merlin Chain's commitment to empowering the Bitcoin ecosystem is evident in the launch of $MERL. As the native token of the leading Bitcoin Layer 2 protocol, $MERL will play a crucial role in driving the growth of decentralized applications, fostering innovation, and unlocking the full potential of Bitcoin.

About Merlin Chain

Merlin Chain is a native Bitcoin Layer 2 dedicated to empowering Bitcoin's native assets, protocols, and products through its Layer 2 network. Integrating a ZK-Rollup network, decentralized oracle network, and on-chain BTC fraud-proof modules, Merlin Chain has rapidly gained traction, locking over 3.5 billion TVL within 30 days after its mainnet launch.

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