Question 1

What is Merlin Chain (MERL)?

Accepted Answer

Merlin Chain is a Bitcoin Layer 2 scaling solution designed to enhance Bitcoin's native assets, protocols, and products using advanced technologies such as ZK-Rollups, decentralized oracles, Data Availability (DA), and on-chain Bitcoin fraud-proof modules. Launched in January 2024, Merlin Chain is built on the Polygon Chain Development Kit (CDK), enabling compatibility with Ethereum Virtual Machine (EVM) tools and standards while integrating Bitcoin's security and functionality. Its core mission is to improve Bitcoin's scalability, usability, and efficiency, embodying the slogan "Make Bitcoin Fun Again."

Question 2

What is Merlin Chain (MERL) used for?

Accepted Answer

Merlin Chain is designed to address Bitcoin's scalability limitations and enable broader functionality through its Layer 2 network. The key use cases include:

- **Transaction Processing:** Enhancing transaction speed and reducing costs using ZK-Rollup technology, which compresses and batches transactions before anchoring them on Bitcoin’s Layer 1 via Taproot.
- **Smart Contracts:** Supporting EVM-compatible smart contract deployment, bridging Bitcoin’s ecosystem with decentralized applications (dApps).
- **Data Availability:** Ensuring verifiable data publication through collaborations with projects like Celestia, enhancing transparency and credibility.
- **Fraud Proofs:** Implementing a challenge-response mechanism to secure the integrity of data and protect against malicious activity.
- **Decentralized Oracles:** Integrating accurate, real-time data into Bitcoin’s Layer 2 environment while resisting centralization and single points of failure.
- **BTC Wallet Support:** Allowing users to interact with Merlin Chain using native Bitcoin wallets via BTC Connect, bridging Bitcoin accounts with EVM-compatible environments.

Question 3

# MERL's Primary Utilities

Accepted Answer

MERL, the native token of Merlin Chain, plays a central role in the ecosystem:

- **Governance:** MERL holders can vote on proposals to shape the development of the ecosystem.
- **Staking:** MERL can be staked to secure the network, align with its success, and earn rewards.
- **Transaction Fees:** MERL is used to pay transaction fees within the Merlin ecosystem.
- **Native Liquidity and Collateral:** MERL serves as collateral and liquidity for financial activities, supporting lending and other mechanisms in the ecosystem.

Question 4

Who created Merlin Chain (MERL)?

Accepted Answer

Merlin Chain was developed by Bitmap Technology, a company founded by Jeff Yin. Bitmap Technology aims to enhance the capabilities of Bitcoin while maintaining its foundational principles of decentralization and security. The team behind Merlin Chain integrates expertise in cryptography, blockchain architecture, and zero-knowledge proof technologies to deliver an efficient and user-friendly Bitcoin Layer 2 solution.

#	Instrument	Exchange	Benchmark Score	Price	24h Change	24h Volume	24h Trades	24h Open	24h High
1	MERL-USDT MERL-USDT	okex	A	0.02764USDT	6.64%	28,567,410.54MERL	11,159	0.02592USDT	0.02787USDT
2	MERL-USDT MERLUSDT	bybit	A	0.02760USDT	6.48%	10,076,553.54MERL	3,017	0.02592USDT	0.02780USDT
3	MERL-USDT MERL_USDT	gateio	A	0.02764USDT	6.47%	3,455,651.58MERL	1,890	0.02596USDT	0.02784USDT
4	MERL-USD MERLUSD	kraken	AA	0.02754USD	5.92%	806,058.18MERL	106	0.02600USD	0.02779USD
5	MERL-USDT MERLUSDT_SPBL	bitget	BB	0.02756USDT	5.76%	522,985.98MERL	877	0.02606USDT	0.02783USDT
6	MERL-USDT MERL-USDT	kucoin	BB	0.02748USDT	5.45%	487,666.44MERL	376	0.02606USDT	0.02766USDT
7	MERL-USD MERL-USD	okex	A	0.02763USD	6.23%	451,442.96MERL	174	0.02601USD	0.02773USD
8	MERL-EUR MERLEUR	kraken	AA	0.02399EUR	6.06%	90,283.42MERL	24	0.02262EUR	0.02422EUR
9	MERL-EUR MERL-EUR	okex	A	0.02397EUR	6.87%	73,357.73MERL	20	0.02243EUR	0.02403EUR
10	MERL-USDC MERL-USDC	okex	A	0.02730USDC	4.80%	61,579.67MERL	18	0.02605USDC	0.02744USDC
11	MERL-TRY MERL-TRY	okex	A	1.33TRY	4.74%	39,296.39MERL	31	1.27TRY	1.35TRY
12	MERL-USDT merlusdt	huobipro	C	0.02770USDT	6.95%	56,048,506.60MERL	26,860	0.02590USDT	0.02800USDT
13	MERL-EUR MERL-EUR	bitvavo	B	0.02406EUR	6.74%	11,313,560.14MERL	1,062	0.02254EUR	0.02418EUR
14	MERL-KRW MERL_KRW	bithumbkorea	-	36.70KRW	4.92%	10,233,768.44MERL	2,477	34.98KRW	37.10KRW
15	MERL-USDT merl_usdt	lbank	C	0.02759USDT	6.32%	6,342,331.72MERL	7,298	0.02595USDT	0.02783USDT
16	MERL-USD MERL-USD	btse	-	0.02763USD	6.84%	4,131,814.35MERL	55,752	0.02586USD	0.02786USD
17	MERL-USDT MERL-USDT	bingx	D	0.02761USDT	6.40%	3,749,667.33MERL	2,869	0.02595USDT	0.02782USDT
18	MERL-USDT MERL_USDT	bitunix	C	0.02759USDT	6.53%	3,216,896.38MERL	6,648	0.02590USDT	0.02784USDT
19	MERL-USDT MERLUSDT	mexc	C	0.02758USDT	6.40%	3,079,465.33MERL	3,387	0.02592USDT	0.02782USDT
20	MERL-USDT MERL_USDT	bydfi	-	0.02758USDT	6.40%	1,855,356.40MERL	3,285	0.02592USDT	0.02782USDT
21	MERL-USDT merl_usdt	digifinex	D	0.02750USDT	6.18%	1,641,005.32MERL	3,600	0.02590USDT	0.02770USDT
22	MERL-INR MERLINR	coindcx	-	2.69INR	7.61%	169,549.81MERL	118	2.50INR	3.25INR
23	MERL-USDT MERL-USDT	btse	-	0.02761USDT	6.64%	37,831.01MERL	1,221	0.02589USDT	0.02783USDT
24	MERL-USDT MERLUSDT	coinex	C	0.02759USDT	6.31%	12,013.77MERL	1,422	0.02595USDT	0.02776USDT
25	MERL-USDT SPOT_MERL_USDT	woo	C	0.01774USDT	0.00%	0MERL	0	0.01774USDT	0.01774USDT
26	MERL-USDT MERL_USDT	poloniex	C	0.02100USDT	0.00%	0MERL	0	0.02100USDT	0.02100USDT
27	MERL-KRW MERL_KRW	coinone	C	33.31KRW	0.00%	0MERL	0	33.31KRW	33.31KRW
28	MERL-USDT MERLUSDT	hitbtc	E	0.02217USDT	0.00%	0MERL	0	0.02217USDT	0.02217USDT