Merlin Chain Unveils $MERL Token, Ushering in a New Era for Bitcoin

Merlin Chain, the largest Bitcoin Layer 2 protocol by TVL, introduces its native token $MERL, enhancing the Bitcoin network with rapid DApp growth. Designed on the BRC-20 standard, $MERL empowers users with governance, security, and ecosystem development opportunities, including voting, staking, fee payments, liquidity provision, and native collateral. Its carefully allocated supply includes airdrops, public and private sales, advisor and team allocations, and community rewards, fostering participation and innovation. The token's listing on major exchanges such as OKX, Hashkey Global, and Bitget marks a significant milestone in Merlin Chain's growth, demonstrating community support and the project's mission to unlock Bitcoin's Layer 2 potential.

Merlin Chain Unveils Native $MERL Token, Ushering in a New Era for Bitcoin

London, April 17, 2024 - Merlin Chain, the pioneering Bitcoin Layer 2 (L2) protocol renowned for its expansive Total Value Locked (TVL), proudly announces the launch of its native token, $MERL. This transformative advancement for the Bitcoin network empowers the exponential growth of decentralized applications (DApps) spanning diverse sectors such as decentralized finance (DeFi), gaming, and social platforms.

Since its inaugural mainnet launch in February 2024, Merlin Chain has experienced meteoric growth, accumulating over $3.6 billion in TVL and nurturing a flourishing ecosystem boasting over 200 native DApps. The introduction of $MERL marks a pivotal juncture in Merlin Chain's evolution, bestowing enhanced governance, security, and ecosystem development opportunities upon its users.

$MERL Token: A Multifaceted Utility

Operating within the Bitcoin-compatible blockchain standard BRC-20, $MERL possesses a total supply of 2.1 billion tokens. Its intricate design empowers the community through a spectrum of utilities:

Governance: As $MERL token holders, users wield the power to shape Merlin Chain's trajectory by participating in crucial proposal votes, thereby actively engaging in governance.

Security: By staking $MERL tokens, users bolster the network's security, ensuring its robust performance.

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

Collator Operations: Community members can support network operations by delegating collators or operating their own collators using $MERL tokens.

Liquidity and Collateral: $MERL serves as the ecosystem's native liquidity and collateral, facilitating seamless transactions and enabling robust lending mechanisms.

$MERL Token Allocation

Merlin Chain has meticulously allocated its 2.1 billion $MERL tokens as follows:

Merlin's Seal: 20% of the total supply will be airdropped to participants of the Merlin's Seal event. This event witnessed an impressive TVL of $3.6 billion, with 91% of these funds originating from the Bitcoin community, including $1.75 billion in BTC and $980 million in BRC-20 assets. This fervent support from the Bitcoin community has catalyzed Merlin Chain's rapid ascent and expansion.

Public and Private Sales: 1% of the total supply is designated for public sale through the People's Launchpad, offering a broad range of investors the opportunity to participate. Additionally, 15.23% is allotted to private investors, with distinct release schedules for token access.

Advisors and Team: 3% of the total supply is reserved for strategic advisors whose knowledge and guidance are pivotal to the project's success. Their tokens are subject to a vesting schedule aligned with the platform's growth trajectory. Furthermore, 4.20% is allocated to the dedicated core team as recognition for their tireless contributions. A structured vesting plan ensures their long-term commitment to the project's development.

Community and Ecosystem: 16.57% of $MERL's total supply is earmarked for community rewards, fostering participation and engagement within the ecosystem. 40% of these tokens are distributed through grants and incentives aimed at stimulating development and innovation on Merlin Chain.

$MERL's distribution is orchestrated over a four-year timeline.

This comprehensive allocation scheme bolsters Merlin's platform by incentivizing active community involvement and supporting innovative projects that contribute to the ecosystem's burgeoning growth.

$MERL Token Listing Schedule

Merlin Chain is poised to achieve a significant milestone with the imminent listing of its native token, $MERL, on a host of prominent crypto exchanges:

OKX: As a BRC-20 token, $MERL will become the third of its kind to be featured on OKX. Deposits will commence on April 17, 2024, at 10:00 UTC; trading will commence on April 19, and withdrawals will be enabled on April 20.

Hashkey Global: $MERL will make its debut as Hashkey Global's first new coin, adhering to the same trading schedule as OKX.

Bitget: Deposits for $MERL on Bitget are already open, with trading set to commence on April 19.

Additional Exchange Listings: Other notable platforms set to list $MERL with similar deposit and trading schedules include Gate.io, Kucoin, WOO X, ByBit, and BingX.

This strategic expansion into major exchanges underscores Merlin Chain's remarkable growth and the unwavering support of its community. The Merlin Chain leadership expressed profound gratitude for the community's role in this progress, emphasizing that these developments mark merely the inception of their mission to "Make Bitcoin Fun Again" and unlock the boundless potential of Bitcoin through cutting-edge Layer 2 solutions.

About Merlin Chain

Merlin Chain is a pioneering native Bitcoin Layer 2 protocol dedicated to empowering Bitcoin's native assets, protocols, and products on Layer 1 through its Layer 2 network. United by the shared vision of "Making Bitcoin Fun Again," Merlin Chain seamlessly integrates a ZK-Rollup network, a decentralized oracle network, and on-chain BTC fraud-proof modules. Within 30 days of its mainnet launch, Merlin Chain secured over 3.5 billion in TVL.

The team behind Merlin, the esteemed Bitmap Tech, boasts a premier OG status with an overall market cap surpassing $500 million. Their flagship BRC-420 "Blue Box" collection has ascended to become one of the most coveted assets on Ordinals.

Social Media and Contact Information:

Website: [Merlin Chain Website URL]

Twitter: [Merlin Chain Twitter Handle]

Discord: [Merlin Chain Discord Server URL]

Telegram: [Merlin Chain Telegram Channel URL]

Disclaimer:

This press release is solely intended to inform and does not constitute an offer, solicitation, or investment or financial advice. It is imperative to conduct thorough due diligence, including consulting with a qualified financial advisor, prior to investing in or trading cryptocurrencies or securities.