In the ever-evolving world of cryptocurrency, airdrops are often the most exciting point for users and investors. One of the newest and most attention-grabbing crypto airdrop projects is Merlin Chain (MERL). This article will dig deeper into what Merlin Chain (MERL) is, what its potential benefits are, and how to get involved in this MERL airdrop. Let's take a look!
Get to know what the Merlin Chain is
Merlin Chain is a Layer 2 solution for Bitcoin that combines the ZK-Rollup network, decentralized oracle network, data availability, and on-chain BTC fraud proof.
The goal is to enhance the capabilities of Bitcoin assets, protocols and products at Layer 1 through Layer 2 infrastructure, with the motto "Making Bitcoin Fun Again."
The platform leverages zero-knowledge proofs sent to the Bitcoin blockchain for commitment verification, increasing security as well as cost efficiency for users.
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Founder or Founder of Merlin Chain
Merlin Chain is a product of Bitmap Tech (formerly known as RCSV). Bitmap Tech has launched products such as Bitmap Explorer and BRC-420. Bitmap Tech has long been dedicated to the Bitcoin ecosystem founded by Jeff.
Prior to founding Bitmap Tech, Jeff had been an entrepreneur in the Web2 industry for over a decade, and had secured funding from industry giants such as Sequoia Capital, IDG Capital, BAI Capital, 5Y Capital, and Vitalbridge, paving the way for one success after another. Although he always had an eye on the Web3 world , he never really convinced himself to dive into the Web3 domain.
It wasn't until 2023, when he looked at Ordinals and the BTC ecosystem, that he decided to start building in the Bitcoin ecosystem in May 2023, when there was still prejudice against Ordinals.
Tokenomics and Use of MERL Token
MERL is the main token of the Merlin Chain which has several main uses, namely:
- Staking : By staking MERL tokens, users can help improve the security of the Merlin Chain network.
- Collator Delegation : MERL token holders can choose to delegate their tokens to collators or use them to run their own collators, aiming to strengthen network security.
- Network Fees : MERL can be used to pay transaction fees on Merlin L3.
- Genuine Liquidity & Collateral : MERL tokens can be used as native liquidity and collateral in the Merlin ecosystem.
Merlin Chain will have a total supply of 2,100,000,000 MERL. These tokens will be distributed to the general public, Merlin Eco, early backers, and core contributors to the project.
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How to Get MERL Tokens
Merlin Chain has chosen a unique approach for their MERL token airdrop. As much as 20% of the total token supply will be given to users who are actively involved in the staking process through a feature called Merlin's Seal.
The platform is designed to distribute MERL, the governance token of the Merlin Chain. Participants can stake their assets to collect M-points, which will determine their share of the rewards they get.
Also read: Staking vs Lending, Which is the Most Profitable?
Cata Participate
To participate, you can visit the official staking page https://merlinchain.io/bridge/staking . On the platform, you can stake assets and start collecting M-points, which are very important for earning MERL tokens.
Rewards Offered
- MERL tokens: As much as 20% of the total $MERL token supply is allocated as staking rewards, making it one of the largest in a Layer 2 solution.
- Liquidity Provision Bonus : Additional benefits are provided for those who add liquidity to the native decentralized exchange, Merlin Swap.
- Benefits of DeFi Engagement : Benefits are available from engagement with various DeFi protocols.
- ETH Native Revenue : Participants who deposit ETH through StakeStone will earn native revenue.
- More rewards are expected, which will increase the value and appeal of participating in Merlin's Seal.
Collect M-Points
M-points are earned based on the value of staked assets, which are converted into BTC every hour. For example, if you have 10 ORDI staked at an average price of 60, and the BTC price is $40,000, you will earn 150 M-points the next day.
The amount of MERL received by each user is calculated based on the proportion of their M-points to the total M-points.
Also read: The Secret to Getting Free Money: Complete Airdrop Tutorial Guide
Supported Assets for Staking (Stage 1)
- BTC
- Token BRC-20 (termasuk ORDI, SATS, BTCS, RATS, MMSS, AINN, RCSV, MICE, TRAC)
- Bitmap
- Token BRC-420 (misalnya, Blue Box, Song ABout NFT, Mineral)
- ETH
- USDT
- USDC Other assets will be supported at a later stage.
Supported Wallets
- OKX Wallet
- Bitget Wallet
- Bybit Wallet
- EVM compatible wallets such as Metamask, via Meson
How to Increase MERL Token Staking Rewards
After staking, you can increase your rewards by leading a team or joining an existing team. Team leaders and team members earn additional percentage bonuses on their daily points when they reach certain total staked value milestones:
- 1 BTC: Team leader +0.1%, Team member +0.05%
- 5 BTC: Team leader +0.2%, Team member +0.1%
- 10 BTC: Team leader +0.4%, Team member +0.2%
- 50 BTC: Team leader +0.8%, Team member +0.4%
- 100 BTC: Team leader +1.2%, Team member +0.6%
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MERL Token Airdrop List
You can get MERL token airdrops by participating in campaigns held by a number of exchanges that collaborate with the Merlin Chain community.
Below is a complete list of MERL token airdrop events that you can participate in:
Airdrop 100,000 tokens MERL
- Organizer: Bybit
- Campaign period: March 18, 2024, 10:00 (UTC) to April 18, 2024, 10:00 (UTC)
- Conditions : Participants can get a share of up to 100,000 MERL tokens distributed via airdrop. The campaign includes Bitcoin staking opportunities, various quests to complete, and prize draws—each activity is designed to increase your engagement and increase your chances of earning prizes.
Airdrop 200,000 tokens MERL
- Organizer: Haskey Global
- Campaign period: from April 18, 2024, 10:00 (UTC)
- Conditions: Participants have the opportunity to earn 50 MERL tokens by completing a 10,000 USDT trading volume task, coinciding with the Genesis Trading Campaign where users can earn rewards based on their trading volume.
Airdrop 3000 tokens MERL
- Organizer: Gate.io
- Campaign period: 17 April 2024 13.00 - 19 April 2024 06.00 (UTC)
- Requirements: Users with an average GT ownership of no less than 10 GT for 14 days. 2.The more GT you have on average over the last 14 days, the more subscription shares you receive, and ultimately, the more MERL tokens you get.
Airdrop 2000 Token MERL dan Bonus - Point Giveaway
- Organizer: OKX
- Campaign period: March 3 2024 23.00 to March 30 23.00 7.00
- Conditions: 100 winners will be randomly selected by Galxe, and each will receive 20 $MERL provided by Merlin Chain. The condition is that participants must complete the specified social quest and join in staking Merlin's Seal.
Also read: How to Avoid Airdrop Scams? Comprehensive Guide
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DISCLAIMER : This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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