What Is Merlin BTC Chain?
Merlin is a Bitcoin layer 2 platform that effectively deals with the scalability issues within the Bitcoin ecosystem. It combines a variety of blockchain tools and services, including zero-knowledge rollups (ZK-rollups), a fraudproof on-chain mechanism, and a segregated oracle network. Using these features, it can provide ample transaction credibility while also reducing gas prices and improving speed. It also allows users to easily use external data and smart contracts from the Bitcoin layer-1 network.
To access Merlin’s features, you need to own the Merlin coin (MBTC). You can do this by depositing MBTC into an exchange that supports it, such as Free, or by linking your wallet with Merlin’s bridge. This bridge is a service that allows you to transfer assets back and forth between the two chains. It’s a great way to keep your coins safe while still being able to access the features of the platform.
A few weeks ago, Merlin launched its second project through the People’s Launchpad, a community token launch platform. The People’s Launchpad is open to BTC and ALLY holders, and participants earn rewards for their participation in the project. These rewards are in the form of Merlin Coin (MERL) and a number of other tokens. For example, you can earn MERL through staking and by donating to the project. In addition, you can earn a total of 5 BTC if you hold BTC and ALLY for the entire campaign.
Currently, Merlin is the home to a growing number of ecosystem projects, and many of them have already undergone fair launches on the platform. These include the Camelot Protocol, a Bitcoin layer 3 protocol designed specifically for DePIN, and MerlinSwap, which recently launched its inaugural Initial DEX Offering (IDO) on Merlin Starter. Other projects on the Merlin ecosystem include Avalon, a cryptocurrency lending infrastructure, and Surf Protocol, a perpetual contract DEX. For more details please visit merlinbtc mbtc merlinbtcchain
One of the most interesting aspects of Merlin is that it has a number of different ways for its token holders to engage with the project and its community. For example, MERL token holders can vote for proposals that will affect the trajectory of the project, and they can also stake MERL to enhance network security and guarantee operational robustness. Finally, MERL tokens can be used to pay for transaction fees, and they can be delegated as collateral or deposited into the Merlin liquidity pool. These activities contribute to the sustainability of the network and encourage community participation in its development.
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