April 19, 2024 — Merlin Chain, the most important Bitcoin Layer 2 protocol with Whole Worth Lock (TVL), is happy to announce the launch of its native token $MERL. As a big enhancement to the Bitcoin community, Merlin Chain will facilitate the fast progress of decentralized purposes (DApps) throughout numerous sectors together with decentralized finance (DeFi), gaming, and social platforms.

Since its mainnet debut in February 2024, Merlin Chain has skilled explosive progress, amassing over $3.6 billion in TVL and fostering a vibrant ecosystem of over 200 native DApps. The introduction of $MERL marks a pivotal second within the evolution of Merlin Chain, offering customers with enhanced governance, safety, and ecosystem growth alternatives.

$MERL token utilities and options

$MERL operates on the Bitcoin-compatible blockchain normal BRC-20, has a complete provide of two.1 billion tokens, and is meticulously designed to empower the neighborhood by numerous utilities .

Token holders can form the way forward for Merlin Chain by voting on necessary proposals and actively take part in governance. Moreover, customers can stake $MERL to strengthen the community's safety and guarantee dependable efficiency. $MERL additionally facilitates cost of transaction charges inside layer 3 extensions. Group members can assist community operations by collator delegation and work together with collators by leveraging $MERL tokens. Moreover, $MERL acts as native liquidity and collateral, enabling seamless buying and selling inside the ecosystem and strong lending mechanisms.

$MERL token allocation

$MERL's 2.1 billion tokens are topic to specified allocation guidelines.

Merlin's Seal

20% of the entire provide of $MERL tokens shall be airdropped to contributors of the Merlin's Seal occasion. The occasion featured a formidable TVL of $3.6 billion, with 91% of the funding coming from the Bitcoin neighborhood, together with $1.75 billion in BTC and $980 million in BRC-20 belongings. {Dollars} included. This great assist from the Bitcoin neighborhood has been important to Merlin Chain’s fast progress and enlargement in latest months.

private and non-private gross sales

1% of the entire provide of $MERL tokens is designated for public sale by Individuals's Launchpad, offering a variety of traders with the chance to take part. Moreover, 15.23% of the entire provide shall be allotted to retail traders, who can have entry to the token by his two completely different launch schedules.

advisor and workforce

3% of the entire provide of $MERL tokens is reserved for strategic advisors who will present experience and steerage to assist the venture succeed, with a vesting schedule that aligns with the expansion of the platform. As well as, his 4.20% shall be allotted to a devoted core workforce in recognition of his continued contribution, and his dedication to the long-term growth of the venture shall be assured by a structured vesting plan.

Group and ecosystem

16.57% of the entire provide of $MERL shall be allotted to neighborhood rewards aimed toward fostering participation and engagement inside the ecosystem. 40% of the tokens shall be distributed by grants and incentives aimed toward stimulating growth and innovation on Merlin Chain.

$MERL shall be distributed over a four-year timeline.

Each token allocation strengthens the vibrancy and progress of Merlin's platform by rewarding energetic neighborhood participation and supporting modern tasks that contribute to increasing the ecosystem.

$MERL token itemizing schedule

Merlin Chain plans to mark a big milestone with the upcoming itemizing of its native token $MERL on a number of crypto exchanges.

As a BRC-20 token, $MERL would be the third token to be launched on OKX. Deposits shall be obtainable from 10:00 UTC on April 17, 2024. Buying and selling will start on April nineteenth and withdrawals shall be made on April twentieth.

Moreover, $MERL will observe the identical buying and selling schedule as OKX and debut as the primary new coin on Hashkey International.

The checklist to look at additionally consists of Bitget, which has already began taking deposits and is ready to commerce on April nineteenth. Gate.io, Kucoin, WooxByBit and BingX align with related deposit and buying and selling schedules.

This enlargement to varied main exchanges highlights Merlin Chain's strong progress and the robust assist of the neighborhood that has contributed to its growth. Merlin Chain's management acknowledges the neighborhood's function on this progress, saying these developments are only the start of its mission to “make Bitcoin enjoyable once more” and additional increasing Bitcoin's potential by modern layer 2 options. Emphasis was positioned on maximizing sexuality.

About Marlin Chain

Merlin Chain is native Bitcoin Layer2 and is dedicated to creating Bitcoin enjoyable once more by powering Bitcoin's native belongings, protocols, and merchandise on Layer1 by the Layer2 community. Merlin Chain integrates the ZK-Rollup community, decentralized oracle community, and on-chain BTC anti-fraud module. Merlin Chain has locked over 3.5 billion TVL inside 30 days of mainnet launch. Bitmap Tech, the workforce behind Merlin, is his OG workforce of prime tiers with a mixed market cap of over $500 million. The BRC-420 “Blue Field” assortment below Bitmap Tech has turn out to be one in every of Ordinals’ hottest belongings.

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