Merlin’s Seal is setting the stage for an unprecedented event in the Layer2 space with its latest offering, aiming to redefine the staking landscape and bring forth a new governance model through its native token, $MERL. The initiative invites participants to stake their assets, thereby earning M-points, a novel approach to accumulating governance power within the Merlin Chain ecosystem. This program not only stands out for its generous reward distribution, a hefty 20% of the $MERL tokens, but also for its unique benefits tied to liquidity provision and DeFi engagement.
As the digital finance space continues to evolve, the introduction of Merlin’s Seal marks a significant milestone. Participants are afforded the opportunity to secure a place in the governance structure of Merlin Chain by staking their assets. This is not just an ordinary staking event; it represents the largest staking reward proposition among all Layer2 solutions to date. The allure of this offering is further enhanced by additional perks for those providing liquidity to Merlin Swap, the platform’s native decentralized exchange, along with profits from engaging with various DeFi protocols and an exclusive $ETH native yield for assets staked through StakeStone.
The mechanics of earning M-points are ingeniously designed. A snapshot system captures the value of staked assets hourly, converting their worth into $BTC equivalent. These values are then translated into daily M-points, calculated based on the asset’s value in relation to $BTC, and multiplied by a factor of 10,000. The accumulation of M-points is directly influenced by continuous staking, with the daily calculations rooted in the total value staked from the preceding day. This ensures a dynamic and engaging staking process where the final distribution of $MERL tokens is proportionately divided among participants based on their M-point accrual.
Merlin’s Seal extends support to a wide range of assets including $BTC, various BRC-20 and BRC-420 tokens, $ETH, $USDT, and $USDC, with plans to expand this list in forthcoming stages. The inclusion of diverse assets caters to a broad spectrum of investors and enhances the flexibility of the staking process. Compatibility with several wallets including UniSat, OKX, and the forthcoming Bitget and Bybit, as well as EVM wallets through Meson, ensures that participants have a seamless experience in managing their investments.
An intriguing aspect of Merlin’s Seal is the emphasis on community and teamwork. Stakers have the option to either spearhead a team or join existing ones, fostering a collaborative environment. Team leaders and members can unlock additional bonus percentages on their daily points by reaching specific total staked value milestones, encouraging collective effort and enhancing the overall reward potential.
Looking ahead, Merlin’s Seal will introduce M-Tokens, a form of liquid staking tokens that facilitate interaction with the Merlin Chain ecosystem. These tokens, generated based on the assets staked, enable trading, liquidity provision, and DeFi protocol engagement directly on Merlin Chain, maximizing profit opportunities while the original assets remain locked. The introduction of M-Tokens signifies a strategic move towards enhancing liquidity and engagement within the Merlin Chain ecosystem.
The security of assets staked through Merlin’s Seal is paramount, with the platform utilizing Cobo’s MPC co-Managed Custody solution. This advanced security measure employs Multi-Party Computation technology and a Threshold Signature Scheme to ensure that transactions are securely signed without exposing private key shares. This collaborative approach to asset security, combined with the decentralized staking node program, showcases Merlin Chain’s commitment to providing a secure and robust staking environment.
Merlin Chain itself is a testament to innovation in the blockchain space. As a Bitcoin Layer2 solution integrating a ZK-Rollup network, decentralized oracle network, and on-chain BTC fraud proof modules, it aims to revitalize Bitcoin’s utility and integration within Layer2 networks. A subsidiary of Bitmap Tech, Merlin Chain is part of a lineage of successful projects, including the BRC-420 “Blue Box” collection, which has garnered significant attention within the Ordinals ecosystem.
In essence, Merlin’s Seal is not merely a staking event; it is a gateway to a new dimension of governance, rewards, and community engagement within the Layer2 space. By offering an innovative mechanism for asset staking, coupled with the security and flexibility of its platform, Merlin Chain is poised to transform the landscape of digital asset governance and rewards. This initiative not only underscores the platform’s commitment to innovation and security but also highlights the potential for Layer2 solutions to foster a more inclusive, rewarding, and secure blockchain ecosystem.
