News Notice. April 19, 2024 — The debut of $MERL, the native token of Merlin Chain, the largest Bitcoin Layer 2 protocol by total value locked (TVL), is a great pleasure.

Merlin Chain is a major improvement to the Bitcoin network that makes it easier for decentralised applications (DApps) to expand quickly in a variety of industries, such as social media, gaming, and decentralised finance (DeFi).

Merlin Chain has grown rapidly since being live on the mainnet in February 2024, amassing over $3.6 billion in TVL and supporting a thriving ecosystem with over 200 native DApps.

A significant turning point in the development of the Merlin Chain has been reached with the release of $MERL, which provides users with opportunities for improved governance, security, and ecosystem development.

Features and Utilities of $MERL Token

$MERL, which uses a blockchain standard that is interoperable with Bitcoin -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.

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.

The community's strong support and Merlin Chain's robust growth are highlighted by this extension into multiple major exchanges, both of which have been crucial to the platform's development.

In addition to expressing gratitude for the community's contribution to this advancement, Merlin Chain's leadership emphasised that these achievements are only the start of their ambition to "Make Bitcoin Fun Again" and realise Bitcoin's full potential through creative Layer 2 solutions.

Concerning Merlin Chain

In order to Make Bitcoin Fun Again, Merlin Chain, a native Layer2 Bitcoin, is dedicated to boosting Layer1 assets, protocols, and products through its Layer2 network.

Merlin Chain combines the on-chain BTC fraud-proof modules, decentralised oracle network, and ZK-Rollup network. After its mainnet launch, Merlin Chain locked over 3.5 billion TVL in under 30 days start up.

Bitmap Tech, the team behind Merlin, is a top-tier original game developer with a market capitalization of more than $500 million.

The Bitmap Tech BRC-420 "Blue Box" collection has emerged as one of the most sought-after items on Ordinals.