Merlin Seal Introduction
Introducing Merlin Seal: Biggest fair launch of Layer 2
Last updated
Introducing Merlin Seal: Biggest fair launch of Layer 2
Last updated
Merlin's Seal is a pioneering program launched by Merlin Chain. The program allows users to stake their assets to earn rewards, including Merlin Chain's governance token, $MERL, as well as additional benefits such as liquidity rewards, profits from engaging with DeFi protocols, and rewards for staking Ethereum ($ETH) through the StakeStone platform.
How does Merlin's Seal work?
Staking and Accumulating M-Points: Users stake their assets, which are converted into M-points. These points are calculated based on the value of the staked assets in Bitcoin ($BTC) at hourly snapshots. Daily M-points are determined as (the staked value in $BTC) * 10,000, rounded down. The points for each user are updated once every 24 hours.
Reward Distribution: Users receive rewards in $MERL tokens based on the M-points they accumulate. The final $MERL reward per user is calculated as (the M-points they received / the total M-points) * the total $MERL amount. $MERL tokens can be claimed in March, while the assets you have staked will be released in April, coinciding with Bitcoin Halving Day.
What assets are supported by Merlin's Seal?
Initial Stage Support: At this stage, Merlin's Seal supports 14 Bitcoin Native Assets, including several BRC-20, BRC-420 tokens (as Blue Box, This song about NFTs, Mineral) and Bitmap, alongside $ETH, $USDT, and $USDC. This variety contributes to creating a diverse and strong ecosystem. We also support Blue Wand and Dragon Ball from BRC-420, and USDT/USDC/ZKF/BTC/ETH from ZKFair.
Future Support: The next stage will expand the range of supported assets to include more protocols, Atomicals, and Ordinals NFTs, among others.
Participants have the option to stake Ethereum ($ETH) through StakeStone and USDC/USDT through meson.fi, offering more flexibility and access to the program. For detailed information on Merlin's Seal, including its benefits and how to participate, refer to the article titled: Merlin's Seal: The Largest Fair Launch of Layer2
Merlin Seal Staking page: https://merlinchain.io/bridge/staking
