Merlin Chain, as a second-layer solution for Bitcoin, integrates basic components such as ZK-Rollup network, decentralized oracle network and fraud proof into the Bitcoin chain. Its main goal is to provide support for the native assets, protocols and application ecosystem of Bitcoin Layer 1, promote the continued innovation of the Layer 2 network and maximize the potential of assets.
MERL is the native token of Merlin Chain and is used for:
Betting: Staking $MERL contributes to the overall security of Merlin Chain.
Sequencer Delegation: $MERL holders can choose to delegate their holdings to a sequencer, or they can purchase $MERL to run their sequencer to protect the network.
Network Fees: Merlin L3 has the option to use $MERL to pay transaction fees.
Native Liquidity and Collateral: The $MERL token can be used as native liquidity and collateral in the Merlin ecosystem.