What is the Merlin Chain token? A comprehensive introduction to MerlinChain tokens

MerlinChain, whose Chinese name is Merlin Chain, is currently the second-layer Bitcoin project with the highest TVL. It has a large community and high market attention. Therefore, as soon as the news of the issuance of Merlin Chain tokens came out, it generated great enthusiasm, and its tokens opened the door to the cryptocurrency market. Investors are also looking forward to the issuance and subsequent development of Merlin Chain tokens. But there are also newbies who still don’t know what the Merlin Chain token is? And you may miss the first wave of buying opportunities. According to the data, the Merlin Chain token is a MERL coin. Next, the editor will give you a comprehensive introduction to the MerlinChain token.

What is the Merlin Chain token?

The Merlin Chain token is a MERL coin, which has functions such as governance, pledge, and network fees. Token holders can actively participate in governance by shaping the future of MerlinChain by voting on key proposals. In addition, users can stake MERL to enhance the security of the network and ensure its reliable performance. MERL also helps cover transaction fees in layer 3 enhancements. Community members can support network operations through organizer delegation, or use MERL coins to operate their organizers. In addition, MERL serves as native liquidity and collateral, enabling seamless transactions and powerful lending mechanisms within the ecosystem.

MERL can be pledged to enhance the security of the Merlin chain and ensure operational integrity and reliable performance. MERL can not only be used to pay transaction fees on MerlinL3, but can also be used as native liquidity and collateral within the Merlin ecosystem, enabling smooth transactions and supporting lending mechanisms.

Merlin Chain is a native Bitcoin Layer 2 and is committed to empowering Bitcoin native assets, protocols and products on Layer 1 through its Layer 2 network. The underlying infrastructure of Merlin Chain is built on Polygon's ZK technology, with a decentralized Oracle network for data availability, and a decentralized ZK computing power network supported by Lumoz for ZKP calculations. It allows challengers to submit fraud proofs on disputed matters, leveraging Bitcoin’s powerful consensus mechanism to ensure the security of the Merlin Chain network.

What about Merlin Chain tokens?

Overall, the Merlin Chain token MERL coin is okay. According to official data, the current price of MERL coin is US$1.06, which is lower than the historical high price of US$1.45. The issuance price is unknown, but the MERL coin was launched late. The future market remains to be seen.

Merlin Chain aims to extend the native innovation of Bitcoin Layer1 to Layer2, including supporting various Bitcoin Layer1 assets, building dApps with Bitcoin’s “complete on-chain” spirit, and community-driven asset release methods. Merlin Chain provides EVM compatibility and supports most existing smart contracts, developer tools and wallets, ensuring seamless interoperability.

Merlin Chain has partnered with Particle Network to use its account abstraction solution to facilitate switching between Bitcoin Layer 1 and Merlin Chain Layer 2. Merlin Chain has established partnerships with other platforms, including Tron Chain, OKX, GeniiData, BitSmiley and Stakestone. As the degree of cooperation deepens, the application scope of Merlin Chain will also expand and drive the development of the token MERL coin.

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