What is Merlin Chain?

Summary: Merlin Chain is revolutionizing Bitcoin's ecosystem with its layer 2 solution, making Bitcoin's protocols and assets more accessible and functional. By leveraging ZK-Rollup technology, it not only boosts transaction efficiency but also supports Bitcoin-specific protocols like BRC20 and BRC420. 

Developed by Bitmap Tech, this platform is designed to inspire community-led innovation and enhance Bitcoin's usability. It stands out for its seamless integration with Bitcoin, EVM compatibility, secure and decentralized operations, and a governance model that values Bitcoin-native approaches.

What is Merlin Chain?

Merlin Chain is shaking up the Bitcoin scene with its layer 2 solution, aimed squarely at tapping into Bitcoin's rich potential. It's not just about cheap transactions or running DApps; Merlin Chain brings Bitcoin's own protocols and assets into the limelight, positioning itself as genuinely "Bitcoin Native." This move promises to spark real innovation in a space that's been eager for fresh approaches to scaling.

On the technical side, Merlin Chain rolls out ZK-Rollup tech to boost scalability and efficiency, and it's throwing its weight behind Bitcoin protocols like BRC20 and BRC420. Crafted by Bitmap Tech's seasoned team of engineers, Merlin Chain is setting the stage for a major leap in how we use Bitcoin, focusing on community-driven solutions and making the Bitcoin network more accessible and innovative than ever.

‍

How Does Merlin Chain Work?

Merlin Chain revolutionizes the Bitcoin ecosystem with its new layer 2 solution, enhancing utility and scalability while maintaining some of the security of Bitcoin. Here's the essence of how Merlin Chain works at a high-level:

• Seamless Bitcoin Integration: It supports Bitcoin-native protocols like BRC20 and BRC420, opening doors for diverse applications and innovative NFTs within the Bitcoin space.
• EVM Compatibility: Its EVM-compatible nature ensures it can manage loads of transactions efficiently, key for scalability, and keeps transaction fees low, attracting both developers and users. It is also compatible with popular EVM applications and wallets like MetaMask.
• ZK-Rollup Tech: By leveraging ZK-Rollup technology, Merlin Chain condenses numerous off-chain transactions into a single one, significantly reducing the data burden on the main chain. This tech not only boosts throughput but secures transactions with cryptographic proofs.
• Decentralized Operations: The platform uses decentralized Oracles and sequencer nodes to manage data securely and transparently, maintaining its decentralized ethos and building trust.
• Governance and Fluidity: With plans to airdrop a $MERL BRC-20 token as its governance token and fostering interoperability, Merlin Chain aims for a Bitcoin-centric governance model and easy asset transfers across blockchain systems.

In a nutshell, Merlin Chain aims to be a game-changer for Bitcoin, offering scalability, low fees, and an innovation-friendly platform without compromising Bitcoin's foundational principles.

‍

Merlin Chain Airdrop

Merlin Chain has introduced the Merlin's Seal campaign, offering participants a chance to secure $MERL governance tokens by staking assets and collecting M-points. Highlights of the campaign include:

• Generous Staking Rewards: Earn up to 20% of $MERL tokens and additional rewards for providing liquidity and engaging with DeFi protocols.
• M-Points System: Receive daily M-points based on the hourly snapshot value of your staked assets, converted to $BTC. More staked assets mean more M-points, leading to a larger share of $MERL.
• Supported Assets: Initially, stake assets like $BTC, selected $BRC-20 and $BRC-420 tokens, $ETH, $USDT, and $USDC.
• Team Bonuses: Increase your rewards by leading or joining a staking team and achieving specific total staked value milestones.
• M-Tokens: Staking generates M-Tokens for use within Merlin Chain's ecosystem, with the original staked assets locked until April.

The campaign unfolds in four phases, from initial staking to the generation of liquid staking tokens, claiming $MERL rewards, and eventually withdrawing staked assets with M-Tokens. Dive into Merlin Chain's innovative ecosystem by participating in "Merlin's Seal" for a stake in its future.

‍

Merlin Chain Funding

Merlin Chain successfully secured funding from a distinguished group of 24 investors, including prominent names like OKX Ventures, ABCDE, Foresight Ventures, and Arkstream Capital. While the exact amount remains undisclosed, this financial backing marks a significant milestone for Merlin Chain in its journey to enhance Bitcoin's scalability and utility.

To keep up to date with their announcements, follow @MerlinLayer2 on X.

‍

Bottom Line

In sum, Merlin Chain is set to redefine Bitcoin's ecosystem with its layer 2 solution, paving the way for unprecedented use and interaction with Bitcoin's Layer1 assets. With the implementation of ZK-Rollup technology and a strong commitment to Bitcoin-native principles, Merlin Chain is expanding Bitcoin's capabilities in terms of scalability and utility. Its dedication to supporting core Bitcoin protocols is poised to introduce a new era of efficiency, security, and innovation, making the Bitcoin network more versatile and user-friendly.