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Merlin Chain, the biggest Bitcoin Layer 2 protocol by complete worth locked (TVL), is thrilled to announce the launch of its native token, $MERL. As a big enhancement to the Bitcoin community, Merlin Chain facilitates the speedy progress of decentralized functions (DApps) throughout varied sectors, together with decentralized finance (DeFi), gaming and social platforms.
Since its mainnet debut in February 2024, Merlin Chain has seen explosive progress, accumulating over $3.6 billion in TVL and fostering a vibrant ecosystem with greater than 200 native DApps. The introduction of $MERL marks a pivotal second within the evolution of Merlin Chain, providing enhanced governance, safety and ecosystem growth alternatives for its customers.
$MERL Token Utilities and Options
$MERL, working below the Bitcoin-compatible blockchain commonplace BRC-20, has a complete provide of two.1 billion tokens and is meticulously designed to empower the neighborhood via varied utilities.
Token holders can form the way forward for Merlin Chain by voting on essential proposals, thus actively taking part in governance. Moreover, customers can stake $MERL to reinforce the safety of the community, making certain its dependable efficiency. $MERL additionally facilitates the fee of transaction charges inside the Layer 3 enhancements. Group members might assist community operations via collator delegation or function their collators by using $MERL tokens. Moreover, $MERL serves as native liquidity and collateral, enabling seamless transactions and strong lending mechanisms inside the ecosystem.
$MERL Token Allocation
$MERL’s 2.1 billion tokens will observe the required guidelines for allocation:
Merlin’s Seal
20% of the full provide of $MERL tokens can be airdropped to members of the Merlin’s Seal occasion. This occasion showcased a formidable TVL of $3.6 billion, with 91% of those funds coming from the Bitcoin neighborhood, together with $1.75 billion in BTC and $980 million in BRC-20 belongings. This substantial assist from the Bitcoin neighborhood has been important to the speedy progress and enlargement of Merlin Chain in latest months.
Public and Personal Gross sales
1% of the full provide of $MERL tokens is designated for public sale via the Folks’s Launchpad, offering a broad vary of buyers with a possibility to take part. Moreover, 15.23% of the full provide is allotted to non-public buyers, who’ve entry to tokens via two distinct launch schedules.
Advisors and Workforce
3% of the full provide of $MERL tokens is reserved for strategic advisors whose experience and steerage are instrumental to the venture’s success, with a vesting schedule aligned with the platform’s progress. Moreover, 4.20% is allotted to the devoted core group in recognition of their steady contributions, making certain their dedication to the venture’s long-term growth via a structured vesting plan.
Group and Ecosystem
16.57% of $MERL’s complete provide is allotted for neighborhood rewards designed to foster participation and engagement inside the ecosystem. 40% of the tokens are distributed via grants and incentives aimed toward stimulating growth and innovation on Merlin Chain.
$MERL can be distributed over a four-year timeline.
Collectively, all token allocations improve the vibrancy and progress of Merlin’s platform by rewarding energetic neighborhood involvement and supporting progressive tasks that contribute to the ecosystem’s enlargement.
$MERL Token’s Itemizing Schedule
Merlin Chain is about to mark a big milestone with the upcoming listings of its native token, $MERL, on a number of crypto exchanges.
As a BRC-20 token, $MERL would be the third of its variety to be featured on OKX. Deposits can be out there beginning April 17, 2024, at 10:00 UTC; buying and selling will start on April 19, and withdrawals can be on April 20.
Moreover, $MERL will debut as the primary new coin on Hashkey International, following the identical buying and selling schedule as OKX.
Noteworthy listings additionally embody Bitget, the place deposits are already open, and buying and selling set for April 19. Different platforms like Gate.io, Kucoin, WOO X, ByBit and BingX are aligning with comparable deposit and buying and selling schedules.
This enlargement into varied main exchanges underscores Merlin Chain’s strong progress and the neighborhood’s robust assist, which has been instrumental in its growth. The management of Merlin Chain expressed gratitude for the neighborhood’s position on this progress, emphasizing that these developments are only the start of their mission to “Make Bitcoin Enjoyable Once more” and unlock the total potential of Bitcoin via progressive Layer 2 options.
About Merlin Chain
Merlin Chain is a local Bitcoin Layer2 that’s dedicated to empowering Bitcoin’s native belongings, protocols, and merchandise on Layer1 via its Layer2 community to Make Bitcoin Enjoyable Once more. Merlin Chain integrates the ZK-Rollup community, decentralized oracle community, and on-chain BTC fraud-proof modules. Merlin Chain has locked over 3.5 billion TVL inside 30 days after its mainnet launch. The group behind Merlin, Bitmap Tech, is a premier OG group boasting an total market cap exceeding $500 million. The BRC-420 “Blue Field” assortment below Bitmap Tech has turn into one of many hottest belongings on Ordinals.
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