Merlin Chain operates as a Layer 2 solution for Bitcoin, integrating key elements such as ZK-Rollup networks, decentralized oracle networks, and fraud proofs within the Bitcoin chain. Its core aim is to enhance the native assets, protocols, and application ecosystem of Bitcoin Layer 1, fostering continuous innovation and maximizing asset potential on Layer 2 networks. The native token of Merlin Chain, MERL, serves various purposes:
Staking
Staking MERL contributes to the overall security of Merlin Chain.
Collator Delegation
MERL holders can choose to delegate their holdings to collators or stake MERL to operate their collators and secure the network.
Network Fees
MERL can be utilized within Merlin L3 to pay transaction fees.
Native Liquidity & Collateral
MERL tokens are integral to the Merlin ecosystem, providing native liquidity and collateral.
Total Supply
Merlin Chain will have a total supply of 2,100,000,000 MERL at genesis, distributed among the public, Merlin Eco, early supporters, and initial core contributors.
Founder
Merlin Chain is a product line of Bitmap Tech (formerly RCSV), founded by Jeff. Prior to Bitmap Tech, Jeff was an entrepreneur in the Web2 industry, securing funding from prominent entities like Sequoia Capital, IDG Capital, BAI Capital, 5Y Capital, and Vitalbridge. His foray into the Web3 domain began in 2023, inspired by Ordinals and the BTC ecosystem.
