Key Points
- OKX announces the listing of Merlin Chain (MERL) on the spot trading market.
- Deposits open later today, and spot trading for MERL/USDT is set to open on April 19.
OKX crypto exchange announced the listing of Merlin Chain (MERL) on the spot trading market. The scheduled regarding the token are scheduled as follows:
- MERL deposits will open later today at 10:00 am UTC.
- MERL/USDT spot trading will open at 10:00 am UTC on April 19, 2024.
- MERL withdrawals will open at 10:00 am UTC on April 20, 2024.
OKX also announced that the maximum supply for the token is 2.1 billion.
Recently, Merlin Chain announced its Merlin Phanton platform with free, instant and permissionless interchange that promises to keep liquidity within the community.
Merlin's Phantom –
All tokens to enjoy free, instant, and permissionless interchange.
No additional assets. Keep liquidity within the community.
Freely across BTC L1, L2, ETH, Solana, and all others.
One asset, multiple forms, various liquidity and utilities.@UniCrossGlobal pic.twitter.com/WD8o4DpZnL— Merlin Chain (@MerlinLayer2) April 12, 2024
What is Merlin Chain?
Merlin Chain is a Bitcoin-native layer-2 solution aiming to add value to the ecosystem. The chain uses ZK-rollup technology in order to boost transaction scalability, and it employs a decentralized oracle network and on-chain fraud-proofs to interact with the Bitcoin network and verify uploaded transactions.
Merlin Chain’s target is to power the Bitcoin application system for continued blockchain innovation. The ample transaction proofs are compressed into batches in order to reduce congestion on the network and improve transaction speeds.
The solution also introduces a new method for the Merlin chain to connect easily to the Bitcoin layer-1 and this way, it enables access to external data sources and execution of smart contracts using a decentralized oracle network and on-chain fraud proofs.
Merlin Chain’s unique layer-2 features are targeting the reduction of transaction costs, and boosting transaction speeds while interacting with the Bitcoin blockchain for enhanced security.
Overall, the Web3 platform aims to solve the issues of Bitcoin scalability via a layer-2 solution.
The project was released on January 19, 2024.
The total Merlin tokens have a fully Diluted Valuation (FDV) of $100,000 when launched.
The Particles Network launchpad was used for the launch of MERL tokens. They are entitled to a 1% share of 2,100,000,000 billion MERL tokens. This is equivalent to 21,000,000 million MERL tokens.