Merlin Chain Launches $MERL Token, Pioneering Bitcoin Layer 2 Solutions

Merlin Chain Launches $MERL Token, Pioneering Bitcoin Layer 2 Solutions

Merlin Chain has made a significant stride in Bitcoin Layer 2 solutions with the launch of its native token, $MERL.

As the largest Bitcoin Layer 2 protocol by total value locked (TVL), Merlin Chain is excited to introduce $MERL, marking a crucial advancement for the Bitcoin network. This development aims to catalyze the growth of decentralized applications (DApps) across diverse sectors, including decentralized finance (DeFi), gaming, and social platforms.

Since its debut on the mainnet in February 2024, Merlin Chain has experienced explosive growth, amassing over $3.6 billion in TVL and nurturing a thriving ecosystem with over 200 native DApps. The introduction of $MERL signifies a pivotal moment in Merlin Chain‘s evolution, offering enhanced governance, security, and ecosystem development opportunities for users.

$MERL Token Utilities and Features

Operating under the Bitcoin-compatible blockchain standard BRC-20, $MERL boasts a total supply of 2.1 billion tokens, meticulously designed to empower the community through various utilities.

Token holders wield influence over the future of Merlin Chain by participating in governance through critical proposal voting. Additionally, users can stake $MERL to bolster the network’s security, ensuring its dependable performance. Furthermore, $MERL facilitates the payment of transaction fees within the Layer 3 enhancements.

Community members can support network operations through collator delegation or operate their collators using $MERL tokens. Moreover, $MERL serves as native liquidity and collateral, enabling seamless transactions and robust lending mechanisms within the ecosystem.

$MERL Token Allocation

The allocation of $MERL’s 2.1 billion tokens adheres to specific rules:

Merlin’s Seal: 20% of the total supply of $MERL tokens will be airdropped to participants of the Merlin’s Seal event, which showcased an impressive TVL of $3.6 billion. This support from the Bitcoin community, with 91% of funds originating from Bitcoin, has been instrumental in Merlin Chain‘s rapid growth.

Public and Private Sales: 1% of the total supply is designated for public sale through the People’s Launchpad, while 15.23% is allocated to private investors.

Advisors and Team: 3% of the total supply is reserved for strategic advisors, with a vesting schedule aligned with the platform’s growth. Additionally, 4.20% is allocated to the core team, 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, with 40% of the tokens distributed through grants and incentives aimed at stimulating development and innovation on Merlin Chain.

$MERL Token’s Listing Schedule

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

As a BRC-20 token, $MERL will be featured on various exchanges including OKX and Hashkey Global, with trading set to commence on April 19, following deposits opening on April 17.

Other prominent listings include Bitget, Kucoin, WOO X, ByBit, and BingX, all aligning with similar deposit and trading schedules.

This expansion into major exchanges underscores Merlin Chain’s robust growth and the community’s strong support, which has been pivotal in its development.

Merlin Chain expresses gratitude for the community’s role in this progress, emphasizing that these developments mark 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 committed to empowering Bitcoin’s native assets, protocols, and products on Layer 1 through its Layer 2 network. Integrating the ZK-Rollup network, decentralized oracle network, and on-chain BTC fraud-proof modules, Merlin Chain has locked over 3.5 billion TVL within 30 days after its mainnet launch.

The team behind Merlin, Bitmap Tech, is a premier OG team boasting an overall market cap exceeding $500 million. The BRC-420 “Blue Box” collection under Bitmap Tech has become one of the hottest assets on Ordinals.