Merlin Chain, the biggest Bitcoin Layer 2 protocol by Whole Worth Locked (TVL), is thrilled to announce the launch of its native token, $MERL. As a big addition to the Bitcoin community, Merlin Chain facilitates the fast growth of decentralized functions (dApps) in varied sectors, together with decentralized finance (DeFi), gaming, and social platforms.
Since its mainnet debut in February 2024, Merlin Chain has seen explosive progress, amassing over $3.6 billion in TVL and fostering a vibrant ecosystem with over 200 native DApps. The launch of $MERL marks an necessary second within the evolution of Merlin Chain, offering improved governance, safety, and ecosystem progress alternatives for its customers.
$MERL Token Utilities and Options
$MERL, working beneath the Bitcoin-compatible blockchain commonplace BRC-20, has a complete provide of two.1 billion tokens and has been rigorously designed to empower the group by way of varied utilities.
Token holders can form the way forward for Merlin Chain by voting on necessary proposals, thus actively collaborating in governance. Moreover, customers can stake $MERL to reinforce the safety of the community and guarantee its dependable efficiency. $MERL additionally facilitates cost of transaction charges inside Layer 3 enhancements. Group members can assist community operations by way of collator delegation or function their very own collators utilizing the $MERL token. Moreover, $MERL serves as native liquidity and collateral, enabling seamless transactions and sturdy lending mechanisms throughout the ecosystem.
$MERL token allocation
The allocation of $MERL’s 2.1 billion tokens will observe the next guidelines:
seal of merlin
20% of the full provide of $MERL tokens will likely be airdropped to individuals seal of merlin occasions. The occasion featured a formidable TVL of $3.6 billion, with 91% of funds coming from the Bitcoin group, together with $1.75 billion in BTC and $980 million in BRC-20 belongings. This substantial assist from the Bitcoin group has been essential to the fast progress and enlargement of Merlin Chain in current months.
private and non-private gross sales
1% of the full provide of $MERL tokens has been designated for public sale by way of the Individuals’s Launchpad, giving a variety of buyers the chance to take part. Moreover, 15.23% of the full provide is allotted to non-public buyers, who’ve entry to the tokens by way of two separate launch schedules.
Consultants and Group
3% of the full provide of $MERL tokens is reserved for strategic advisors whose experience and steering are essential to the success of the undertaking, which features a vesting program accompanying the event of the platform. Moreover, 4.20% is allotted to the devoted core staff to acknowledge their continued contribution, guaranteeing their dedication to the long-term progress of the undertaking by way of a structured vesting plan.
Group and Ecosystem
16.57% of the full provide of $MERL is allotted to group rewards designed to advertise participation and engagement throughout the ecosystem. 40% of the tokens are distributed by way of grants and incentives aimed toward encouraging progress and innovation on Merlin Chain.
$MERL will likely be distributed over a four-year time interval.
Collectively, all token allocations improve the vitality and progress of Merlin’s platform by rewarding lively group participation and supporting modern initiatives that contribute to the enlargement of the ecosystem.
Itemizing Schedule of $MERL Token
Merlin Chain is ready 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 of its sort to seem okex, Deposits will likely be out there from April 17, 2024 at 10:00 UTC; Buying and selling will start on April 19 and withdrawals will happen on April 20.
Moreover, $MERL will launch as the primary new coin Hashkey GlobalFollowing the identical buying and selling schedule as OKX.
Notable lists additionally embody bitgateThe place deposits are already open, and buying and selling is scheduled for April nineteenth. Different platforms like gate.io, kukoin, woo x, bybit And bingx Aligning with the identical deposit and buying and selling schedules.
This enlargement throughout a number of main exchanges highlights the robust progress of Merlin Chain and the robust assist from the group, which has been instrumental in its progress. Merlin Chen’s management expressed gratitude for the group’s function on this progress, emphasizing that these developments are a part of their efforts to “make Bitcoin enjoyable once more” and unlock Bitcoin’s full potential by way of modern Layer 2 options. The mission is starting.
About Marilyn Chen
Merlin Chain is a local Bitcoin Layer 2 dedicated to empowering Bitcoin’s native belongings, protocols, and merchandise on Layer 1 by way of its Layer 2 community to make Bitcoin enjoyable once more. Merlin Chain integrates the ZK-Rollup community, decentralized oracle community, and on-chain BTC fraud-proof module. Merlin Chain has locked over 3.5 billion TVL inside 30 days of its mainnet launch. Merlin, the staff behind Bitmap Tech, is a number one OG staff with a complete market capitalization of over $500 million. The BRC-420 “Blue Field” assortment beneath Bitmap Tech has change into one of the standard belongings on Ordinals.
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