What is Merlin Chain? Bitcoin Layer 2 project with ZK Rollup technology

1. What is Merlin Chain?

Merlin Chain is a Layer 2 blockchain specifically designed to enhance the functionality of Bitcoin. This project utilizes ZK-Rollups, a decentralized oracle network, and fraud-proof security mechanisms to ensure the integrity and efficiency of its system.

Merlin Chain is engineered to be compatible with various applications and projects, including iZUMi Finance, Meson, Polyhedra Network, Bitmap Game, Bitmap War, and DeFi-native BRC-420 applications such as Mineral. This broad compatibility fosters diversification and promotes the development of the Bitcoin ecosystem within the Merlin Chain network.

2. Merlin Chain products

Native Bitcoin Layer 2 Integration

Merlin Chain enables the use of Layer 1 Bitcoin assets and protocols on its Layer 2 network. This integration facilitates seamless connectivity between various assets and protocols, thereby creating new opportunities for innovative applications within the Bitcoin ecosystem.

Bridge to Merlin's Seal

Merlin Chain includes a bridge to Merlin's Seal, a feature that allows Layer 1 assets to be utilized on Merlin Chain's Layer 2 platform. This bridging capability enhances interoperability, allowing users to leverage the full potential of their Bitcoin assets in a Layer 2 environment.

ZK-Rollup Implementation

Merlin Chain employs ZK-Rollup technology to enhance transaction efficiency and scalability. By consolidating multiple transactions into a single batch, ZK-Rollup reduces transaction costs and accelerates processing times, thereby improving overall blockchain performance.

Support for Bitcoin Protocols

Merlin Chain supports a wide range of Bitcoin protocols, including BRC20, BRC420, Bitmap, Atomicals, Pipe, Stamp, and others. This broad protocol support ensures that a diverse user base can interact seamlessly with the Bitcoin Layer 2 platform, fostering widespread adoption and use.

3. Features of Merlin Chain

• Low Fees and High Scalability: Merlin Chain offers a network compatible with the Ethereum Virtual Machine (EVM), characterized by its ability to maintain low transaction fees and high scalability. This compatibility ensures that transactions are processed swiftly and efficiently, thereby enhancing the overall liquidity of the network.

• Support for Bitcoin Protocols: In addition to its compatibility with the EVM, Merlin Chain also extends its support to various Bitcoin protocols. This support enables a broader range of interactions within the Bitcoin Layer2, fostering increased interoperability and functionality within the Bitcoin ecosystem.

• Implementation of ZK-Rollup on Bitcoin: Merlin Chain further enhances its capabilities by implementing ZK-Rollup on the Bitcoin network. This innovative technique is designed to improve both performance and scalability. By leveraging ZK-Rollup, transaction processing becomes significantly faster, while associated costs are reduced, thereby optimizing overall efficiency.

• Commitment to Internal Innovation: Merlin Chain is dedicated to fostering internal innovation, prioritizing community-driven initiatives on Layer2. This commitment ensures that the platform remains responsive to the evolving needs and preferences of its user base. By encouraging collaboration and creativity within the community, Merlin Chain aims to develop unique solutions tailored specifically to the Bitcoin network and its users.

4. Tokenomics

4.1. Key metrics

• Token Name: Merlin
• Ticker: MERL
• Blockchain: Bitcoin, Merlin Chain
• Total Supply: 2,100,000,000 MERL
• Circulating Supply: 21,000,000 MERL

4.2. Token allocation

Updating

4.3. Token use cases

Updating

4.4. Guide to Earning M-Points

The Merlin Seal event unfolds across four distinct phases spanning from February to April. During this event, participants engage in staking activities by depositing their assets to accumulate M-Points and receive MERL tokens as rewards.

As part of the reward structure, users stand to gain 20% of their rewards in MERL tokens, in addition to any profits generated from their participation in decentralized finance (DeFi) protocols.

Assets supported for staking include prominent cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), stablecoins like USDT and USDC, as well as select BRC-20 and BRC-420 assets.

Outlined below are the step-by-step instructions for participating in the Merlin Seal event:

Step 1: Create a Unisat Wallet: Begin by setting up a Unisat Wallet to facilitate the staking process.

Step 2: Access the Staking Platform: Visit the designated staking platform at https://merlinchain.io/bridge/staking and connect your Unisat Wallet to the platform.

Step 3: Select Network and Assets: Choose the appropriate network for transferring your assets to the Merlin Chain platform.

Step 4: Initiate Staking: Opt to stake your assets by selecting the "Stake" option provided on the platform.

Step 5: Check M-Point Accumulation: Finally, verify the accumulation of your M-Points by selecting the "Check My Point" feature available on the platform.

5. Partnerships and Investors

The project has garnered investments from renowned funds like OKX Ventures, ABCDE, and Foresight.

6. Team

Merlin Chain is a subsidiary of Bitmap Tech, a leading entity in this domain with a market capitalization surpassing 500 million USD. This attests to the project's credibility and trustworthiness. Moreover, Bitmap Tech's BRC-420 collection, known as the "Blue Box," has emerged as a prominent asset on Ordinals, notable for its value and growth potential.

7. Roadmap

Updating

8. Media Channels

• Website: https://merlinchain.io/
• Twitter: https://twitter.com/MerlinLayer2

9. Conclusion