How to qualify for free tokens ($MERL)

The Bitcoin market has been seeing a lot of activity recently. The long-awaited approval of a Bitcoin exchange-traded fund (ETF) in the United States shocked the industry, sending its price to a corresponding all-time high of over $63,000.

But the action doesn’t just happen on the main stage. Bitcoin’s layer 2 ecosystem, a protocol network built on top of Bitcoin to address scalability and functionality limitations, is experiencing a boom of its own.

This surge is driven by a growing number of projects seeking to realize the potential of decentralized finance (DeFi) in Bitcoin. Leading layer 2 solutions such as Lightning Network (currently the largest TVL at $270 million), Stacks ($226 million, up a whopping 1611% since October), and Rootstock ($170.5 million) are driving strong DeFi We are paving the way for the ecosystem. Bitcoin blockchain.

Source: Dipilama

Data from DeFi Llama shows a clear picture. Bitcoin’s total value locked (TVL) has surged 600% in just a few weeks, jumping from $310 million on February 8 to a whopping $2.15 billion today. This incredible growth can largely be attributed to the explosive popularity of Merlin Chain, a new player in the layer 2 space.

Released on February 8th, Merlin’s Seal sent shockwaves through the DeFi world. Bitmap Tech reported an incredible TVL of $543 million from over 1 million depositors within 24 hours of the network launch. Today, Merlin’s Seal boasts a 71.6% share of Bitcoin TVL, worth a whopping $1.58 billion.

In the next section, we will take a closer look at the Merlin Chain and the Merlin’s Seal phenomenon and what this means for the future of the Bitcoin Layer 2 ecosystem.

Merlin Chain: A Bitcoin-based L2 solution that aims to make Bitcoin “fun again”

Merlin Chain is the basic Layer-2 (L2) is a solution that aims to power existing Bitcoin assets, protocols, and products. Developed by Bitmap Tech, the team behind Ordinals’ popular “Blue Box” collection, Merlin Chain seeks to unlock Bitcoin’s full potential by creating a robust, interoperable, and scalable ecosystem.

Merlin Chain, which launches its mainnet this week, promises to innovate beyond fast and cheap transactions. Prioritize native Bitcoin integration, allowing users to seamlessly switch between L1 and L2 using their existing Bitcoin wallet and perform swaps for other tokens, such as stablecoins, without the need for an Ethereum Virtual Machine (EVM) wallet. Let it happen.

This removes the complexity of managing multiple wallets and simplifies the user experience.

Merlin Chain boasts broad compatibility, supporting major Bitcoin L1 protocols including: BRC-20, BRC-420and atom. All L1 inscriptions are automatically whitelisted to ensure safe and affordable transactions.

Merlin Chain bridges the gap between blockchains by recognizing the challenge of attracting new users to the Bitcoin ecosystem.

By connecting to 40 Ethereum chains, users can Wallets like MetaMask Tokens like $ETH can interact with the Merlin Chain using existing tools and assets. This removes the technical hurdles of the Bitcoin wallet and encrypt process, making the experience more user-friendly and accessible.

Merlin Chain also aims to democratize access to Bitcoin. They plan to integrate the first multi-chain inscription DApp, allowing users to inscribe their assets on different layers with a latency of just one block. Additionally, Merlin Chain’s Launchpad offers assets at affordable prices, making them accessible to a wider audience.

Merlin Chain’s commitment to decentralization is evident in its plans to distribute most of its governance tokens to the community.

Participate in the Merlin Seal Airdrop

Merlin’s Seal Airdrop offers a powerful opportunity to unlock significant rewards and become integrated into a dynamic ecosystem. This airdrop goes beyond simple token distribution. It serves as a gateway to the fascinating realm of decentralized finance (DeFi), powered by the innovative Merlin Chain.

Merlin’s Seal offers a unique way to earn $MERL, the governance token of the Merlin Chain. By strategically staking your assets, you can earn M Points to directly influence the allocation of an attractive pool of $MERL tokens.

The recently released Merlin’s Seal has received significant attention, surpassing $18.7 million in total value within its first hour of release.

this airdrop It boasts extensive support for a variety of assets, including Bitcoin’s native asset, Ethereum, stablecoins, and more. This gives you a one-time opportunity to claim a significant portion (20%) of the total $MERL supply, 420 million tokens are available for distribution.

Security remains of utmost importance. Merlin Chain leverages Cobo MPC Co-Managed Custody to protect your assets throughout the event and ensure secure, non-custodial processing.

Whether you’re a seasoned veteran or a newcomer, regardless of your DeFi experience, Merlin’s Seal provides a seamless entry point. It offers the potential to win valuable tokens and the opportunity to immerse yourself in the stimulating world of DeFi and connect with a vibrant community passionate about the intersection of blockchain technology and cutting-edge innovation.

But the benefits go beyond earning initial tokens! Participating in Merlin’s Seal gives you additional benefits:

• Earn a hefty 20% of $MERL: This represents the largest staking reward available to any Layer 2 project!
• Unlock additional rewards: Contribute liquidity to Merlin Swap, our native DEX, and enjoy related benefits.
• Explore the potential of DeFi: Participate in various DeFi protocols and earn money through your participation.
• Enjoy $ETH base profits: Stake $ETH through StakeStone and earn additional rewards.

With the promise of even more exciting rewards and expanded support for additional assets, Merlin’s Seal ensures a truly rewarding experience.

Proceed to the next section for a comprehensive step-by-step guide on how to participate in Merlin’s Seal Airdrop and stake your $MERL tokens.

How to Qualify for Merlin Airdrop: Step-by-Step Guide

Level 1: Secure your seat

This is the first step to participating in airdrops and earning money. $MERLIt is the governance token of Merlin Chain.

How do I do it? Stake any cryptocurrency asset you want Merlin’s Seal Please use the official website.

Step 2: Select Assets

Select the cryptocurrency you want to stake from the supported list.

Merlin Chain currently supports a wide range of assets across a variety of blockchains, including:

Bitcoin: BTC, various BRC-20 tokens (ORDI, SATS, BTCS, etc.)
Ethereum (Arbitration): ETH, USDT, USDC
zk process: Not mentioned in the information provided
Tron: Not mentioned in the information provided

Step 3: Accumulate M points

M points are the key to accumulation $MERL token. The more M-Points you accumulate, the greater your share of the airdrop pool.

By staking the asset of your choice, you can automatically start earning M Points every day.

How to calculate M-points:

Every hour, a snapshot of staked assets is taken and their value converted to $BTC.
You will then receive M-Points every day according to the following formula: (value of assets staked in $BTC) * 10,000 (rounded down).

For example, if you stake 10 $ORDI and the daily average price of a $ORDI snapshot is $60 and the average $BTC snapshot price for that day is $40,000, you will receive the following benefit: (10 * 60) / 40,000 = 0.015 $BTC
This translates to 0.015 * 10,000 = 150 M-points the next day.

Step 4: Bonus points for liquidity providers

you can earn too Additional M points By providing liquidity merlin swapIt is the primary decentralized exchange of Merlin Chain.

Step 5: Track your progress

Check your M-Points balance regularly to monitor your airdrop progress.

How do I do it? Information on how to track Mpoints is not included in the information provided. For detailed instructions, check out the official Merlin Chain website or social media channels.

Additional information:

Supported wallets: UniSat Wallet, OKX Wallet, Bitget Wallet (coming soon), Bybit Wallet (coming soon), Metamask and other EVM wallets (using Meson)
M-Token (coming soon): Merlin creates special tokens that represent staked assets, allowing them to interact with the Merlin Chain’s ecosystem while the original assets are locked.
Asset release: Staked assets are expected to be released next year. April 2024. You can then claim it using M-Tokens.

remember: The final $MERL token distribution will be based on your M-Points compared to the total M-Points pool and the total $MERL amount allocated to the airdrop.

By following these steps and understanding the process, you can increase your chances of receiving more Merlin Airdrops and explore the exciting possibilities of the Merlin Chain ecosystem.

Merlin Airdrop Alternative

More and more projects are using ‘free airdrops’ to increase user engagement. One of these tokens is Smog. As a meme coin on the Solana blockchain, users earn airdrop points in exchange for completing tasks.

As of this writing, its market capitalization is over $50 million and over 600,000 quests have been completed. Meme Coin benefited from a moderate rally following the recent BTC rally following the approval of the US spot Bitcoin ETF, which garnered interest from large market participants.

Read More: SMOG Airdrop – How to Get Solana’s Next Big Airdrop