Merlin Chain Official Announcement: Open for Users to Claim $MERL Tokens and Airdrop Tomorrow Afternoon
Merlin Chain, a Bitcoin Layer 2 protocol with a TVL of over 3 billion USD in less than two months, announced yesterday that its airdrop points page is now open for users to check their points and the quantity of $MERL tokens they will receive. $MERL will also be listed on OKX and HashKey exchanges starting from 6 pm on the 19th.
Today, the official announcement states that the website is now open for users to claim $MERL. After claiming, the team will conduct the airdrop tomorrow from 2 pm to 4 pm. Other announcements include:
– Please fill in an EVM address (e.g. Metamask or other wallets) as most CEX do not accept AA wallet transfers. Do not enter an AA address.
– The airdrop tomorrow will unlock 50% of the tokens, and the remaining 25%, 12.5%, 6.25%, 3.125%, and 3.125% will be released in the next 5 months.
– Merlin launched in February and is airdropping tokens in April. Users received 10.5% of the token supply in TGE and will receive a total of over 21% within 6 months. The team claims this is the largest fair distribution in any Layer 2 network.
– Only user tokens were in circulation in the market for the first 6 months. The team tokens will be locked for 24 months and released linearly, meaning 24 months of lock-up plus 24 months of release, totaling 48 months. Institutions also need 24-48 months to unlock.
To claim, users should go to the airdrop points page and link the wallet they used for staking. If eligible for the airdrop, a “Bind Wallet” button will appear. Click on it, fill in the EVM address, and click “Confirm” (as shown in the left image below). Please note not to enter an AA address. Click “Confirm” again. Upon success, users will see the quantity of $MERL they can claim tomorrow and for the next 5 months (as shown in the right image below).
According to off-exchange trading market Aevo, the current price of $MERL is reported as $1.45, reaching a peak of $1.74. The trading volume in the past 24 hours exceeded $71,450, with open interest contracts at $48,459. The total supply of $MERL is 2.1 billion tokens, and tomorrow’s airdrop will release 10.5% of the tokens, equivalent to 220.5 million tokens. If calculated based on the price of $1.45, the market value will reach nearly $320 million, and the FDV will reach $3.045 billion. This can be compared to the following data for evaluating the valuation of the Bitcoin L2 ecosystem:
– The current largest Bitcoin L2, Stacks, has a market value of $3.28 billion and an FDV of $4.1 billion.
– The highly anticipated CKB has a market value of $876 million and an FDV of $890 million. If the off-exchange price is true, Merlin will become the third-largest Bitcoin L2.
Compared to Ethereum L2, Merlin’s market value is close to Metis’ $316 million and closely follows Manta’s $440 million. It has significant growth potential compared to ARB’s $2.965 billion and OP’s $2.258 billion.