Merlin Chain's Native Token, $MERL, Debuts, Marking a Bitcoin Layer 2 Evolution

Merlin Chain, the leading Bitcoin Layer 2 protocol by TVL, has unveiled its native token, $MERL. This milestone marks a pivotal moment in the platform's evolution, offering governance, security enhancements, transaction fee payments, and various ecosystem utilities. The $MERL token operates under the BRC-20 standard and will be listed on multiple crypto exchanges, including OKX, Hashkey Global, and Bitget, showcasing the platform's growth and community support.

Merlin Chain Unveils its Native Token, $MERL, Marking a Milestone in Layer 2 Evolution

San Francisco, March 8, 2023 - Merlin Chain, the foremost Bitcoin Layer 2 (L2) protocol by total value locked (TVL), has announced the much-anticipated launch of its native utility token, $MERL. This significant milestone underscores the platform's rapid growth and unwavering commitment to expanding the Bitcoin ecosystem.

A Rapidly Growing Ecosystem

Since its mainnet debut in February 2024, Merlin Chain has witnessed a phenomenal surge in adoption, accumulating a staggering $3.6 billion in TVL. The platform has nurtured a burgeoning ecosystem, fostering the development of over 200 native decentralized applications (DApps).

$MERL Token: Utility and Functionality

$MERL is a BRC-20 compliant token that operates on the Bitcoin blockchain. It empowers users with a wide range of utilities, including:

• Governance Participation: Token holders can actively shape the platform's direction through voting on proposals.
• Network Security Enhancement: $MERL can be staked by users to enhance the security and resilience of the Merlin Chain network.
• Transaction Fee Payment: Users can utilize $MERL to pay for transaction fees on the network, reducing transaction costs.
• Collator Delegation: Token holders can delegate their $MERL to collators, who secure the network and maintain its integrity.
• Liquidity Provision: $MERL acts as a liquidity provider in the Merlin Chain ecosystem, fostering a robust and efficient financial infrastructure.

Token Distribution and Allocation

The total supply of $MERL tokens is set at 2.1 billion. Its distribution adheres to a well-defined set of rules:

• Merlin's Seal Event Airdrop: 20% of the total supply will be distributed to participants of the Merlin's Seal event, acknowledging their early support for the platform.
• Public Sale: 1% of the total supply will be available for public purchase through the People's Launchpad, providing an opportunity for the wider community to acquire $MERL tokens.
• Private Investment: Private investors have access to 15.23% of the total supply through two release schedules, demonstrating their confidence in Merlin Chain's long-term potential.
• Strategic Advisors and Core Team: Strategic advisors and the core team are allocated 3% and 4.20% of the total supply, respectively, with vesting schedules aligned with the platform's growth milestones.
• Community Rewards: Community rewards constitute 16.57% of the total supply, recognizing the invaluable contributions of the Merlin Chain community.
• Grants and Incentives: 40% of the tokens are reserved for grants and incentives, stimulating development and innovation across the Merlin Chain ecosystem.

Exchange Listings and Global Expansion

Merlin Chain's $MERL token is poised to be listed on a multitude of prominent crypto exchanges, marking a significant milestone for the project's global reach and accessibility. As a BRC-20 token, $MERL will be featured on major platforms such as OKX, Hashkey Global, Bitget, Gate.io, Kucoin, WOO X, ByBit, and BingX. These listings will allow users worldwide to trade, deposit, and withdraw $MERL seamlessly.

Community Engagement and Growth

Merlin Chain's leadership has expressed its sincere appreciation for the community's integral role in the project's success. The platform's mission remains steadfast: to "Make Bitcoin Fun Again" through pioneering L2 solutions that empower the Bitcoin ecosystem.

A Revolutionary L2 Solution

Merlin Chain's native L2 protocol is designed to empower Bitcoin's native assets, protocols, and products on Layer 1 through its innovative L2 network. The platform seamlessly integrates the ZK-Rollup network, a decentralized oracle network, and on-chain BTC fraud-proof modules. This advanced architecture enabled Merlin Chain to attract over $3.5 billion in TVL within a remarkable 30 days of its mainnet launch.

The Bitmap Tech Legacy

The team behind Merlin Chain, Bitmap Tech, boasts an exceptional track record and reputation. As an OG team with a market cap exceeding $500 million, Bitmap Tech has become a powerhouse in the Ordinals ecosystem through the creation of the acclaimed BRC-420 "Blue Box" collection. Their expertise and vision position Merlin Chain as a catalyst for innovation and growth within the Bitcoin L2 landscape.

Unleashing Bitcoin's Potential

Merlin Chain's leadership is relentlessly driven by the belief that their L2 solutions hold the key to unlocking the full potential of Bitcoin. Through platform enhancements, ecosystem development, and community engagement, Merlin Chain aims to drive the industry forward and revolutionize the way users interact with and contribute to the Bitcoin economy.

Conclusion

The launch of the $MERL token heralds a new chapter in Merlin Chain's evolution. It provides a comprehensive mechanism for governance, security, and ecosystem development, empowering users to shape the platform's future. With its emphasis on community involvement, Merlin Chain seeks to foster a robust and vibrant ecosystem that promotes innovation and sustained growth. As the platform's ecosystem continues to expand, the $MERL token is poised to become an indispensable utility, enabling a wide range of applications and unlocking new possibilities within the Bitcoin ecosystem.