Merlin Seal Introduction

Introducing Merlin Seal: Biggest fair launch of Layer 2

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

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