Merlin Chain Launches Its Native BRC-20-based Token MERL

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After carefully preparing and constructing it for several months, Merlin Chain, the leading Bitcoin-centric layer two (L2) system, unveiled its own token named MERL. The introduction of MERL tokens is essential for Merlin Chain’s future expansion plans. With Bitcoin set to undergo its fourth halving this weekend, Merlin Chain announced that traders can now buy and sell $MERL on various cryptocurrency platforms such as OKX and Bitget.

starting from this week, you can buy and sell MERL tokens on exchanges like Hashkey Global, Gate.io, KuCoin, ByBit, and more. As a token based on the Bitcoin Standard (BRC-20), MERL holds the key to enhancing Bitcoin’s capabilities with advanced Layer-Two technologies.

MERL token owners have the power to influence Merlin’s future development via governance. They can additionally deposit their tokens to increase rewards and strengthen network security. Moreover, MERL tokens are used for paying transaction fees in the Merlin project’s third-layer upgrades.

Members of the community can assist in managing network operations by either delegating collator duties to others or personally running their own collators using MERL tokens. Additionally, MERL plays a dual role as both native liquidity and collateral within the ecosystem, allowing for smooth transactions and robust lending functions. (Merlin Chain team’s explanation paraphrased)

Closer Look at Merlin Market Outlook and $MERL’s Tokenomics

Previously, the Bitcoin network was under potential extinction due to the rapid expansion of major L1 chains like Ethereum. However, recent market figures indicate that Bitcoin now hosts over a billion dollars in value from significant Web3 projects such as decentralized exchanges (DEXs), farming platforms, lending systems, and cross-chain frameworks, among others.

The Merlin chain is essential for keeping Bitcoin as the leading force in the digital asset market, guiding its operation.

Additionally, the Merlin Chain boasts over $904 million in total value locked from its web3 initiatives, which include MerlinSwap, Mage Finance, Surg Protocol, and others. The Merlin chain developers consider the launch of the MERL token as a significant step towards fostering ecosystem growth.

Significantly, the MERL tokens boast a grand total supply of 2.1 billion. These tokens are carefully designed to bestow power upon the community. The private sales A and B were assigned different allocations: 1.33% for A and 13.9% for B. Regarding Private Sale A, token holders will encounter a waiting period of 6 months before any distribution, followed by another 18-month vesting phase. Conversely, MERL tokens acquired during Private Sale B will be subject to a 12-month holding period prior to distribution and an extended vesting period of 36 months.

At the Merlin’s Seal event, where Merlin Chain was introduced, attendees were given 20% of the entire MERL token pool. The Merlin chain community and ecosystem each claimed significant portions: 16.57% and 40% respectively.

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2024-04-19 19:17