Merlin Chain Official Announces Opening of User Application for $MERL Token and Airdrop Tomorrow Afternoon from 2 to 4 pm. Users can check their points and airdrop quantity through the official website and fill in their EVM address for application.
(Previous Summary: Merlin Chain airdrop points open for inquiry! Listed on OKX and HashKey on 4/19.)
(Supplementary Background: MerlinStarter, Merlin Chain’s ecological launch platform, will launch its own token IDO tonight at 8 pm! Will $MSTAR become the platinum shovel?)
Table of Contents:
Open User Application for $MERL
Application Instructions
Off-exchange Price at 1.45 USD
TVL exceeds 3 billion USD in less than two months
Bitcoin L2 Merlin Chain, which exceeds 30 billion USD, announced yesterday (17th) that the airdrop points page is open for inquiry, and users can check their points and the quantity of $MERL airdrop on the website. $MERL will also be listed on OKX, HashKey, and other exchanges on the 19th at 6 pm.
Today, the official announcement states that the website is now open for users to claim $MERL. After the claim, the team will conduct the airdrop from 2 to 4 pm tomorrow. Other announcements are as follows:
Please fill in the EVM address (e.g., Metamask or other wallets) because most CEX does not accept transfers from AA wallets. Do not enter an AA address.
Tomorrow’s airdrop will unlock 50%, and the remaining 25%/12.5%/6.25%/3.125%/3.125% will be released in the next five months.
Merlin was launched in February, and token airdrop is conducted in April. Users obtained a 10.5% token supply at TGE and will receive a total of more than 21% within six months. The team stated that this is the largest fair distribution in any Layer 2.
In the first six months, only users’ tokens were circulating in the market. (The team’s tokens will be locked for 24 months and released linearly, meaning they will be locked for 24 months and then released for another 24 months, totaling 48 months. Institutions also need 24-48 months to unlock.)
To enter the airdrop points page, link the wallet used for the initial pledge. If eligible for the airdrop, the “Bind Wallet” button will appear. Click the “Bind Wallet” button, enter the EVM address, and click “Confirm” (as shown in the left figure below). Note that the official statement advises against entering an AA address. Click “Confirm” again. You will see the amount of $MERL that you can claim tomorrow and for the next five months, as shown in the right figure below.
According to off-exchange trading market Aevo data, $MERL currently has a price of 1.45 USD, reaching a high of 1.74 USD. The trading volume in the past 24 hours exceeds 71,450 USD, with open interest contracts of 48,459 USD.
The total supply of $MERL is 2.1 billion tokens, and 10.5% of tokens, which is equivalent to 220.5 million tokens, will be released tomorrow. If calculated at a price of 1.45 USD, the market value will be close to 320 million USD, and the FDV will reach 3.045 billion USD. This can be compared with the following data as an evaluation of the valuation of the Bitcoin L2 ecosystem:
The current largest Bitcoin L2, Stacks, has a market value of 3.28 billion USD and an FDV of 4.1 billion USD. CKB, which has received much attention this year, has a market value of 876 million USD and an FDV of 890 million USD. If the off-exchange price is accurate, Merlin will become the third-largest Bitcoin L2.
Compared to Ethereum L2, Merlin’s market value is close to 316 million USD, trailing behind Metis at 3.16 billion USD and Manta at 440 million USD. It still has significant room for growth compared to the market values of ARB and OP at 2.965 billion USD and 2.258 billion USD, respectively.
(Related Reports:
MerlinStarter will soon launch its native token $MSTAR, with 5% of the total supply used for IDO public sale.
Merlin Chain’s first launchpad, MerlinStarter, begins the IDO of its platform token $MSTAR, with 50 million tokens available for subscription.
Merlin Chain’s first IDO launchpad, MerlinStarter, exceeds 15 times the subscription amount in 60 minutes, with a subscription amount of over 30 million USD.)