Merlin Chain, the largest Bitcoin Layer 2 protocol by total value
locked (TVL), is thrilled to announce the launch of its native
token, $MERL. As a significant enhancement to the Bitcoin network,
Merlin Chain facilitates the rapid growth of decentralized
applications (DApps) across various 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 more than 200 native DApps. The
introduction of $MERL marks a pivotal moment in the evolution of
Merlin Chain, offering enhanced governance, security and ecosystem
development opportunities for its users.
$MERL Token Utilities and Features
$MERL, operating under the Bitcoin-compatible blockchain
standard BRC-20, has a total supply of 2.1 billion tokens and is
meticulously designed to empower the community through various
utilities.
Token holders can shape the future of Merlin Chain by voting on
critical proposals, thus actively participating in governance.
Additionally, users can stake $MERL to enhance the security of the
network, ensuring its reliable performance. $MERL also facilitates
the payment of transaction fees within the Layer 3 enhancements.
Community members may support network operations through collator
delegation or operate their collators by utilizing $MERL tokens.
Furthermore, $MERL serves as native liquidity and collateral,
enabling seamless transactions and robust lending mechanisms within
the ecosystem.
$MERL Token Allocation
$MERL’s 2.1 billion tokens will follow the specified rules for
allocation:
Merlin’s Seal
20% of the total supply of $MERL tokens will be airdropped to
participants of the Merlin’s Seal event. This event
showcased 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 vital to the rapid growth and
expansion of Merlin Chain in recent months.
Public and Private Sales
1% of the total supply of $MERL tokens is 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 total supply is allocated to private investors, who have
access to tokens through two distinct release schedules.
Advisors and Team
3% of the total supply of $MERL tokens is 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. Additionally, 4.20% is allocated to the
dedicated core team in recognition of their continuous
contributions, 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 designed to foster participation and engagement within the
ecosystem. 40% of the tokens are distributed through grants and
incentives aimed at stimulating development and innovation on
Merlin Chain.
$MERL will be distributed over a four-year
timeline.
Together, all token allocations enhance the vibrancy and growth
of Merlin’s platform by rewarding active community involvement and
supporting innovative projects that contribute to the ecosystem’s
expansion.
$MERL Token’s Listing Schedule
Merlin Chain is set to mark a significant milestone with the
upcoming listings of its native token, $MERL, on multiple crypto
exchanges.
As a BRC-20 token, $MERL will be the third of its kind to be
featured on OKX. Deposits will be available starting April 17,
2024, at 10:00 UTC; trading will begin on April 19, and withdrawals
will be on April 20.
Additionally, $MERL will debut as the first new coin
on Hashkey Global, following the same trading schedule as
OKX.
Noteworthy listings also include Bitget, where deposits are
already open, and trading set for April 19. Other platforms
like 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 strong support, which has
been instrumental in its development. The leadership of Merlin
Chain 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 Layer2 that is committed to
empowering Bitcoin's native assets, protocols, and products on
Layer1 through its Layer2 network to Make Bitcoin Fun Again. Merlin
Chain integrates 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.
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Disclaimer: The information provided in this press release
is not a solicitation for investment, nor is it intended as
investment advice, financial advice, or trading advice. It is
strongly recommended you practice due diligence, including
consultation with a professional financial advisor, before
investing in or trading cryptocurrency and securities.
Joe Peng
contact at merlinchain.com