Merlin Chain Unveils $MERL: Transformative Milestone for Bitcoin Layer 2 Evolution

Merlin Chain unveils its native token, $MERL, designed to empower users with governance, security enhancements, and active ecosystem participation. Following a successful $3.6 billion TVL growth, the BRC-20 token aims to enhance Bitcoin Layer 2 solutions by facilitating seamless transactions, providing additional liquidity, and enabling decentralized application development.

Merlin Chain Unveils $MERL: A Transformative Step in Bitcoin Layer 2 Evolution

April 19th, 2024 - Merlin Chain, the preeminent Bitcoin Layer 2 protocol in terms of total value locked (TVL), has announced the launch of its native token, $MERL. This significant development marks a major leap forward for the Bitcoin network, unlocking a vast array of opportunities for decentralized applications (DApps) across multiple sectors, including decentralized finance (DeFi), gaming, and social platforms.

Exponential Growth and Ecosystem Vibrancy

Since its mainnet debut in February 2024, Merlin Chain has witnessed a meteoric rise, amassing over $3.6 billion in TVL and fostering a thriving ecosystem with more than 200 native DApps. The introduction of $MERL signifies a pivotal juncture in the evolution of Merlin Chain, offering enhanced governance, heightened security, and robust ecosystem development opportunities for its users.

Empowering the Merlin Chain Community

$MERL, operating on the Bitcoin-compatible blockchain standard BRC-20, boasts a total supply of 2.1 billion tokens. Its multifaceted design empowers the community through a diverse range of utilities:

• Governance: Token holders play an active role in shaping Merlin Chain's future by participating in voting on critical proposals.
• Security: By staking $MERL, users contribute to the network's security, ensuring its reliable performance.
• Ecosystem Interaction: $MERL facilitates the payment of transaction fees within Layer 3 enhancements.
• Network Operations: Community members can support network operations through collator delegation or operate their own collators using $MERL tokens.
• Liquidity and Collateral: $MERL serves as native liquidity and collateral, enabling frictionless transactions and robust lending mechanisms within the ecosystem.

Strategic Token Allocation

$MERL's total supply of 2.1 billion tokens is allocated according to a well-defined distribution plan:

• Merlin's Seal: 20% of the tokens are airdropped to participants of the Merlin's Seal event, which showcased an impressive TVL of $3.6 billion. The overwhelming support from the Bitcoin community, contributing $1.75 billion in BTC and $980 million in BRC-20 assets, has been instrumental in Merlin Chain's rapid growth and expansion.
• Public and Private Sales: 1% of the tokens are designated for public sale through the People's Launchpad, providing a broad range of investors with an opportunity to participate. Additionally, 15.23% of the tokens are allocated to private investors, who have access to specific release schedules.
• Advisors and Team: 3% of the tokens are reserved for strategic advisors whose expertise and guidance are instrumental to the project's success, with a vesting schedule aligned with the platform's growth. The dedicated core team receives 4.20%, ensuring their commitment to the project's long-term development through a structured vesting plan.
• Community and Ecosystem: 16.57% of $MERL's total supply is allocated for community rewards, fostering participation and engagement within the ecosystem. 40% of these tokens are distributed through grants and incentives to stimulate development and innovation on Merlin Chain.

Multi-Platform Listing Schedule

Merlin Chain is poised to mark a significant milestone with the upcoming listings of its native token, $MERL, on multiple crypto exchanges.

• OKX: As a BRC-20 token, $MERL will be the third of its kind to be listed on OKX. Deposits will be available starting 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 debut as the first new coin on Hashkey Global, following the same trading schedule as OKX.
• Bitget: Deposits are already open on Bitget, with trading set for April 19.
• Other Exchanges: Gate.io, Kucoin, WOO X, ByBit, and BingX are aligning with similar deposit and trading schedules.

This expansion into various major exchanges underscores Merlin Chain's robust growth and the community's unwavering support. The leadership of Merlin Chain has expressed gratitude for the community's role in this progress, emphasizing that these developments are just the beginning of their mission to "Make Bitcoin Fun Again" and unlock the full potential of Bitcoin through innovative Layer 2 solutions.

About Merlin Chain

Merlin Chain is a native Bitcoin Layer 2 network dedicated to empowering Bitcoin's native assets, protocols, and products on Layer 1. Through its Layer 2 network, Merlin Chain integrates a ZK-Rollup network, decentralized oracle network, and on-chain BTC fraud-proof modules. Within 30 days of its mainnet launch, Merlin Chain locked over 3.5 billion in TVL. The team behind Merlin, Bitmap Tech, is a premier OG team with an overall market cap exceeding $500 million. The BRC-420 "Blue Box" collection under Bitmap Tech has become one of the most sought-after assets on Ordinals.

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