A big leap forward for Bitcoin Layer 2 solutions
Merlin Chain, the largest Bitcoin Layer 2 protocol by total value locked (TVL), is pleased to announce the launch of its own token, $MERL. A significant enhancement to the Bitcoin network, the Merlin Chain will fuel the rapid growth of decentralized applications (DApps) across a variety of sectors, including decentralized finance (DeFi), gaming, and social platforms.
Since its mainnet debut in February 2024, Merlin Chain has seen explosive growth, accumulating over $3.6 billion in TVL and fostering a vibrant ecosystem with over 200 native DApps. The introduction of $MERL marks a pivotal moment in the evolution of Merlin Chain, providing users with improved governance, security, and ecosystem development opportunities.
$MERL token utilities and features
Operating under the Bitcoin-compatible blockchain standard BRC-20, $MERL has a total token supply of 2.1 billion and has been carefully designed to empower the community through a variety of utilities.
Token holders can shape the future of the Merlin Chain by voting on important proposals and actively participate in its governance. Users can also stake $MERL to strengthen network security and ensure stable performance. $MERL also facilitates payment of transaction fees within Layer 3 enhancements. Community members can support network operations by delegating collators or running collators by leveraging $MERL tokens. Additionally, $MERL serves as the underlying liquidity and collateral, enabling smooth trading and robust lending mechanisms within the ecosystem.
$MERL token allocation
$MERL’s 2.1 billion tokens follow specified allocation rules.
Merlin’s Seal
20% of the total supply of $MERL tokens will be airdropped to participants. Merlin’s Seal event. The event featured an impressive TVL of $3.6 billion, with 91% of these funds coming from the Bitcoin community, including $1.75 billion in BTC and $980 million in BRC-20 assets. This substantial support from the Bitcoin community has been essential to the rapid growth and expansion of Merlin Chain in recent months.
Public and private sales
1% of the total supply of $MERL tokens will be earmarked for public sale through the People’s Launchpad, providing an opportunity to participate for a broad range of investors. Additionally, 15.23% of the total supply will be allocated to retail investors who will have access to the tokens through two separate launch schedules.
Advisors and Team
3% of the total supply of $MERL tokens is reserved for strategic advisors who provide expertise and guidance critical to project success, with a vesting schedule aligned with the growth of the platform. Additionally, 4.20% will be allocated to a dedicated core team in recognition of ongoing contributions, ensuring commitment to the long-term development of the project through a structured vesting plan.
Community and Ecosystem
16.57% of the total supply of $MERL will be allocated to community rewards designed to encourage participation within the ecosystem. 40% of tokens will be distributed through grants and incentives to promote development and innovation on the Merlin Chain.
$MERL is distributed every four years.
All token allocations enhance the vitality and growth of the Merlin platform by rewarding active community participation and supporting innovative projects that contribute to the expansion of the ecosystem.
$MERL Token Listing Schedule
Merlin Chain plans to mark an important milestone in the future by listing its native token, $MERL, on multiple cryptocurrency exchanges.
$MERL, a BRC-20 token, will be the third to appear. great. Deposits will be available from 10:00 UTC on April 17, 2024. Trading will begin on April 19th and withdrawals will begin on April 20th.
Additionally, $MERL will debut as the first new coin. Hashiki GlobalIt follows the same trading schedule as OKX.
The notable list includes: bitgetDeposits are already open and trading is set for April 19th. Other platforms such as Gate.io, Kucoin, Ux, bybit and BingX We have similar deposit and transaction schedules in place.
Expansion to a variety of major exchanges highlights the strong support of the community, which has been instrumental in the strong growth and development of Merlin Chain. Merlin Chain’s leadership expressed gratitude for the community’s role in these developments, emphasizing that these developments are only the beginning of its mission to “make Bitcoin fun again” and unlock Bitcoin’s full potential through innovative layer 2 solutions. I did.
Introduction to Merlin Chain
Merlin Chain is a native Bitcoin Layer2 dedicated to making Bitcoin fun again by powering Layer1 Bitcoin native assets, protocols, and products through the Layer2 network. Merlin Chain integrates the ZK-Rollup network, decentralized oracle network, and on-chain BTC fraud prevention module. Merlin Chain locked over 3.5 billion TVL within 30 days of mainnet launch. The Bitmap Tech team behind Merlin is a top OG team with a total market capitalization of over $500 million. Bitmap Tech’s BRC-420 “Blue Box” collection has become one of Ordinals’ most popular assets.
Website | Twitter | Dissension | telegram
disclaimer: The information provided in this press release is not an investment recommendation and is not intended as investment advice, financial advice or trading advice. We strongly recommend that you practice due diligence, including consulting with a professional financial advisor, before investing in or trading cryptocurrencies and securities.
