What is MERL

1. Project Introduction
Merlin Chain ($MERL) is a native Bitcoin Layer2 that is committed to empowering Bitcoin's native assets, protocols, and products on Layer1 through its Layer2 network. Built on Polygon's ZK technology, Merlin Chain's underlying infrastructure features a decentralized Oracle network for data availability, supported by Lumoz for decentralized ZK computation power. It allows challengers to present fraud proofs for dispute resolution, leveraging Bitcoin's robust consensus mechanism to ensure the security of the Merlin Chain network.
Summary: Merlin was launched by Bitmap Tech, the same company that released the BRC-420 Blue Box series, which used to be one of the most popular assets on Ordinals. Bitmap Tech has also launched Bitmap.Game (Bitmap Metaverse) and Recursiverse (a product matrix based on recursive protocols). Merlin has partnered with Particle, Tron Chain, OKX Wallet, GeniiData, Bit Smiley, Stakestone, and others. Defillama shows its current TVL at $190 million, with 15 projects having TVL data, and 2.29 million mainnet wallet addresses.

2. Team & Investment Info
Yin Sang (Jeff): Founder of Merlin Chain and BitmapTech. He attended Nanjing Foreign Language School for middle school and then went to a private high school in the United States, after which he was admitted to Bentley University Business School with a full scholarship. After dropping out in his sophomore year, he returned to China to start a business and founded ""Sing Together"". In 2018, Yin Sang started his second business and founded the metaverse social product ""Oasis"".
Funding: In February 2024, Merlin Chain announced the completion of its funding round, with participation from 24 institutions including OKX Ventures, ABCDE, Foresight Ventures, and Arkstream Capital. In April 2024, Merlin Chain announced a successful new round of funding, co-led by Spartan Group and Hailstone Labs, with contributions from Amber Group, Presto Labs, and IOBC Ventures, and other backers.

3. Social Media URLs
X: https://x.com/MerlinLayer2
Telegram: https://t.me/merlin_chain
Discord: https://discord.com/invite/merlinchain

4. Token Info
Token Symbol: MERL
Total Supply: 2,100,000,000
Token Type: Merlin
Issuance/Burn Mechanism: Fixed supply
Contract Address: https://scan.merlinchain.io/
Token Distribution:
Merlin’s Seal Participants: 20%, 50% unlocked at TGE, remaining released over 5 months: 25%, 12.5%, 6.25%, 3.125%, 3.125%
Public Sale: 1%, 50% unlocked at TGE, remaining released over 5 months: 25%, 12.5%, 6.25%, 3.125%, 3.125%
Private Investors (A round 1.33%, B round 13.90%): 15.23%, none unlocked at TGE. A round: After 6-month cliff, released over 18 months; B round: After 12-month cliff, released over 18 months
Advisors: 3%, none unlocked at TGE, then released over 30 months
Team: 4.2%, none unlocked at TGE, then released over 24 months
Community: 16.57%, none unlocked at TGE, then released over 48 months
Ecosystem: 40%, none unlocked at TGE, then released over 48 months

5. Related Links
Official Website: https://merlinchain.io/
White Paper: https://docs.merlinchain.io/merlin-docs
Other Info:
https://www.rootdata.com/zh/Projects/detail/Merlin%20Chain?k=MTExNTU%3D

Note: The project introduction comes from the materials published or provided by the official project team, which is for reference only and does not constitute investment advice. HTX does not take responsibility for any resulting direct or indirect losses.