What is Merlin Chain? Information about MERL Token?

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17 Mar 2024

What is Merlin Chain? Information about MERL Token?

The Bitcoin ecosystem is attracting a lot of attention, especially Layer-2 Merlin Chain. So, what is Merlin Chain? Let's find out right away!
Table of Contents

What is Merlin Chain?

Merlin Chain is a Layer 2 blockchain of Bitcoin utilizing the ZK-Rollups model, a decentralized oracle network, and fraud-proof security solutions. Additionally, Merlin Chain not only supports the development of other assets, protocols, and products on Bitcoin Layer 1 through its Layer 2 but also aims to “Make Bitcoin Fun Again”.
Specifically, the Merlin Chain project will be compatible with applications such as iZUMi Finance, Meson, Polyhedra Network, Bitmap Game, Bitmap War, and native DeFi applications like BRC-420 Mineral to diversify and develop the Bitcoin ecosystem.
Furthermore, Merlin Chain is a subsidiary product of Bitmap Tech, a leading OG group with a total market capitalization exceeding 500 million USD. Bitmap Tech’s BRC-420 “Blue Box” collection has previously become one of the hottest assets on Ordinals.

Product features of Merlin Chain

Native Bitcoin Layer2: Merlin Chain allows the utilization of assets and protocols from Layer 1 on the Bitcoin network through Layer 2. This creates connectivity and integration between various assets and protocols, opening up numerous opportunities and innovative applications on the Bitcoin network.
Bridge to Merlin’s Seal: Merlin Chain provides a bridge to connect with Merlin’s Seal, a product that enables the use of Layer 1 assets on Merlin Chain’s Layer 2 network.

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ZK Rollup on Bitcoin: Merlin Chain has implemented ZK-Rollup to enhance performance and scalability. ZK-Rollup accelerates and reduces transaction costs by processing multiple transactions within a generalized transaction on the blockchain.
Support for Bitcoin protocols: Merlin Chain supports popular Bitcoin protocols such as BRC20, BRC420, Bitmap, Atomicals, Pipe, Stamp, and many others, allowing a large number of users to interact on the Bitcoin Layer 2.

Key features of Merlin Chain

Low fees, high scalability: Merlin Chain provides low transaction fees and high scalability as a network compatible with the Ethereum Virtual Machine (EVM). This ensures fast transaction processing and enhances transaction liquidity.
Support for Bitcoin protocols: Merlin Chain supports popular Bitcoin protocols, enabling broader interaction on the Bitcoin Layer 2.
ZK-Rollup on Bitcoin: Merlin Chain implements ZK-Rollup to enhance performance and scalability, enabling faster transaction processing and reduced costs.
Internal innovation: Merlin Chain is committed to implementing fair and community-based initiatives on Layer 2, aiming to provide unique solutions for the Bitcoin network and its users.

Special features of Merlin Chain

A notable feature of Merlin Chain is the BRC-420 experiment. This experiment utilizes recursion to define game items, animations, effects, and gameplay modules within the metaverse flexibly and creatively. Importantly, all these formats will be open-source, providing opportunities for anyone to create their own “metaverse inscriptions”.
Furthermore, BRC-420 establishes a relationship between usage rights and copyright benefits based on the same Inscription. This means that when you own an Inscription, you can decide on its usage rights distribution and establish value for them, thereby opening up opportunities for creating new business models and creativity in the Ordinals market.
Related: Guide to Earning M-Points on Merlin Chain

What is MERL token?

Token name: Merlin
Ticker: MERL
Blockchain: Bitcoin, Merlin Chain
Total supply: 2,100,000,000 MERL
Circulating supply: 21,000,000 MERL

Development team

Merlin Chain is a subsidiary product of Bitmap Tech, a leading group in this field with a total market capitalization exceeding 500 million USD. This demonstrates the project’s reliability and credibility. Additionally, Bitmap Tech’s BRC-420 “Blue Box” collection has become one of the hottest assets on Ordinals, standing out with its value and growth potential.

Investors

Investor
Merlin Chain has announced a new funding round from 24 investors, including OKX Ventures, ABCDE, Foresight Ventures, and Arkstream Capital. However, information about the total amount of funds raised has not been disclosed.