Merlin Chain (MERL) Wallet

About Merlin Chain

• What is Merlin Chain?

  Merlin Chain is a Bitcoin Layer 2 solution being developed by the team behind Bitmap Tech (formerly Recursiverse). Technologically, Merlin Chain integrated zero-knowledge proof, decentralized oracles, and on-chain BTC fraud proof modules to support Bitcoin-native assets, users, and protocols. It supports a wide range of Bitcoin protocols such as BRC-20, BRC-420, Atomicals, Pipe, and more. Interestingly, Merlin Chain is also EVM-compatible and operates with low fees and high scalability.

• What is BRC-420?

  BRC-420 is an experimental protocol that allows for more complex Bitcoin asset formats through "recursion". Specifically, it supports the combination of any file format to form more complex inscriptions on the Bitcoin blockchain, thus enabling the creation of game items, animations, and effects on Bitcoin. In fact, there is a well-established marketplace already for trading BRC-420 assets such as the Blue Box, Mineral, and Merlin Hat. BRC-420 standard has expanded the possibilities and gameplay on Bitcoin by facilitating the recursion of arbitrary file types into sophisticated inscriptions. At its core, BRC-420 is an exciting experiment that pushes the boundaries of what can be built on the Bitcoin blockchain.

• How is Merlin Chain different from other Bitcoin L2 solutions?

  Merlin Chain has several unique aspects that set it apart from other Bitcoin L2 solutions. Firstly, it is being developed by the accomplished Bitmap Tech team that has already built well-known Bitcoin projects like Bitmap.game. As a result, Merlin Chain has received higher levels of attention and enthusiasm since inception. Additionally, Merlin Chain's strong emphasis on being "Bitcoin Native" is special; it plans to use BRC-20 as its governance token rather than adopting an Ethereum standard token like other Bitcoin L2s. Furthermore, Merlin Chain implements the ZK-Rollup technology to ensure security and finality of transactions, which is more technically challenging than using Optimisic Rollup. Together, the successful development team, Bitcoin-Native focus, and advanced ZK technology make Merlin Chain a one-of-its-kind Layer 2 solution.

• What makes Merlin Chain unique?

  In addition to the characteristics described in the previous FAQ, Merlin Chain is also unique due to its wide support for different wallets and different BRC-20 assets. For instance, users can stake ORDI, SATS, RATS, TRAC on Merlin Chain but their options are far more limited on other Bitcoin L2's. Moreover, Merlin Chain also supports more web3 wallets, including Unisats. In summary, native Bitcoin users can continue to use their Bitcoin wallets and BRC-20 tokens to interact with Merlin Chain, but this interchange of L1 and L2 remains less seamless on other Bitcoin L2's in existence.

• How to engage in Merlin Chain？

  On January 27th 2024, Merlin Chain launched its mainnet and currently supports bridging BTC and BRC-20 tokens. Test tokens can also be claimed on the mainnet homepage. In addition, Merlin's Seals, a four-phase reward program for early Merlin Chain users, will soon be launched in partnership with Bitget Wallet. Anticipated ways to earn rewards in the first phase are: 1. Stake Bitcoin assets to be rewarded with Merlin Chain’s governance token. 2. Provide liquidity to the Native Dex — Merlin Swap. 3. Earn profits by engaging with DeFi protocols. 4. Stake $ETH through StakeStone to earn $ETH Native Yield According to Merlin Chain's official X account, MERL tokens will be available for claiming in March and the staked assets will be released in April around Bitcoin Halving Day.