MERL

Merlin Chain, a Bitcoin-native Layer 2 solution, revolutionizes the Bitcoin network by integrating advanced technologies to enhance scalability, reduce transaction costs, and improve liquidity. Launched in January 2024 by Bitmap Technology, Merlin Chain operates as a ZK-Rollup network, incorporating decentralized oracle networks and data availability modules to bolster the Bitcoin ecosystem. The ZK-Rollup network is pivotal in Merlin Chain's architecture, enabling high transaction throughput and low fees. This technology aggregates multiple transactions into a single batch, which is then processed off-chain, significantly reducing the load on the Bitcoin mainnet. The decentralized oracle network ensures reliable and tamper-proof data feeds, essential for smart contracts and decentralized applications (dApps) operating within the ecosystem. MERL, the native token of Merlin Chain, plays a crucial role in the network's functionality. It is used for staking, where holders can contribute to the network's security, and for collator delegation, allowing users to delegate their tokens to collators or run their own to secure the network. Additionally, MERL is utilized for paying transaction fees and serves as native liquidity and collateral within the Merlin ecosystem. Bitmap Technology, the driving force behind Merlin Chain, has a rich history in the Bitcoin ecosystem, with previous projects like Bitmap Explorer and BRC-420. Founded by Jeff, an entrepreneur with extensive experience in the Web2 industry and backing from prominent investors, Bitmap Technology has been instrumental in advancing Bitcoin's capabilities. Jeff's transition to the Web3 space was inspired by the potential he saw in Ordinals and the broader BTC ecosystem in 2023. Merlin Chain's total supply at genesis is set at 2,100,000,000 MERL, distributed among the public, Merlin Eco, early supporters, and initial core contributors. This strategic distribution aims to foster a robust and engaged community, driving further innovation and adoption of the network.