Merlin Chain announced MERL, its native token, on April 19, 2024, about ten weeks after the project says its mainnet launched on February 8. Merlin described MERL as a token for governance and network security, with additional proposed roles across its ecosystem. Those descriptions explain the project’s intended design; they do not establish current adoption, security, or investment performance.
What is MERL, and what does it do on Merlin Chain?
MERL is the token Merlin Chain introduced in its April 19, 2024 announcement. Merlin’s documentation lists governance and security among its roles and describes possible uses involving Layer 3 fees, collator delegation, liquidity, and collateral. These are project-described utilities, not evidence of guaranteed yield or measured use.
Merlin said the token has a total supply of 2.1 billion. Its published allocation and distribution framework is:
| Allocation | Share of total supply |
|---|---|
| Merlin’s Seal participants | 20% |
| Public sale | 1% |
| Private investors | 15.23% |
| Advisors | 3% |
| Team | 4.2% |
| Community | 16.57% |
| Ecosystem | 40% |
Merlin describes a four-year distribution framework with unlock schedules that vary by allocation category. The percentages show how the stated total supply is divided, not how many tokens were circulating at any particular time. See Merlin’s tokenomics documentation for the project’s schedule details.
Recommended Free Tools
#1 Best Overall
- BITCOIN EXCLUSIVE, PHONE VERIFICATION: Bitkey is designed from the ground up exclusively for bitcoin — a dedicated hardware wallet for secure bitcoin storage. Approve transactions with a tap using your phone and NFC. No device screen is required.
- SELF-CUSTODY, NO EXCHANGE OR CUSTODIAN REQUIRED: You hold two of the three keys in the Bitkey system – one on your phone and one on your Bitkey device. The third is stored on Bitkey’s server and cannot move your bitcoin on its own.
- NO SEED PHRASE: Set up and use Bitkey without creating or storing a seed phrase.
- 2-of-3 MULTISIG: Three keys are stored separately across your phone, Bitkey device, and Bitkey’s server. Any two keys are required to move your bitcoin.
- BUILT-IN RECOVERY: Encrypted backup and recovery tools can help you regain access if you lose your phone or Bitkey device. You can also designate a Recovery Contact.
How Merlin describes its connection to Bitcoin
Merlin calls itself a Bitcoin Layer 2. Its official overview says the network integrates a ZK-Rollup network, a decentralized oracle network, data availability, and on-chain BTC fraud-proof modules. This is Merlin’s description of its architecture; the cited project material does not independently validate the design or establish the network’s security.
Merlin’s official timeline dates mainnet launch to February 8, 2024. The project’s milestone page says it reached $3.2 billion in total value locked within 23 days, dated March 2, 2024. That is a project-reported, historical figure—not a current TVL measure. In its April 19 token announcement, Merlin also claimed more than $3.6 billion in TVL and over 200 native DApps. Those, too, are launch-period claims from the project, not independently verified or current metrics.
Rank #2
- Unparalleled Security: Protect your assets NDA-free EAL 6+ Secure Element, offering robust defense and complete transparency
- Simple & Secure Interface: Manage your digital assets easily with a clear OLED screen for secure on-device confirmations
- Supports 1000s of Coins & Tokens: Securely handle thousands of assets, including Bitcoin, Ethereum, and more, all in one wallet
- Effortless Asset Management: Monitor and transact seamlessly with Trezor Suite, our intuitive desktop and mobile app
- Enhanced Backup Solution: Rest assured with Multi-share Backup, eliminating single points of failure for secure cold wallet recovery
What the launch announcement does—and does not—establish
The announcement establishes that Merlin presented MERL as its native token and described a supply, allocation plan, and intended network functions. It does not establish today’s token price or circulating supply, current TVL or DApp count, current exchange availability, or present bridge support. Nor does the project’s architectural description alone demonstrate decentralization, security, or independent audit results.
For a personal-finance decision, distinguish a token’s stated purpose from evidence about its present market, risks, and functionality. The April 2024 announcement and project documentation are not enough to support a current valuation or investment conclusion.
The Tool Desk
Outbyte PC Repair FREERepair Windows errors before they cause bigger problemsFix Now →Outbyte Driver Updater FREEFix the driver behind crashes, sound loss and screen glitchesFind Drivers →Rank #3
- Unparalleled Security: Protect your assets with EAL 6+ Secure Element, offering robust defense and complete transparency
- Simple & Secure Interface: Manage your digital assets easily with a clear OLED screen for secure on-device confirmations
- Supports 1000s of Coins & Tokens: Securely handle thousands of assets, including Bitcoin, Ethereum, and more, all in one wallet
- Effortless Asset Management: Monitor and transact seamlessly with Trezor Suite, our intuitive desktop and mobile app
- Enhanced Backup Solution: Multi-share Backup eliminates single points of failure for secure cold wallet recovery
Bridge transfers and M-Token redemption cautions
Merlin’s official bridge guide describes transfers between Bitcoin Layer 1 and Merlin Chain and warns that a completed transfer sent to an incorrect address cannot be retrieved. Merlin’s Seal campaign has concluded. The project’s M-Token guide says eligible M-Tokens can be exchanged 1:1 for Layer 1 assets; it also warns that selling or losing M-Tokens during the locking period prevents redemption through unstaking. Check the latest official instructions and eligibility terms before attempting a transfer or redemption.
Quick Recap
Best Value
- Effortlessly build your crypto portfolio via the all in one Ledger Wallet app: buy, sell, send, receive, swap, stake and more across popular blockchains. 15,000+ coins & tokens in a single dashboard. Keep a close eye on the market. Compare service providers. Track performance. Get timely alerts. Build your portfolio with confidence.
- Effortlessly build your crypto portfolio via the all in one Ledger Wallet app: buy, sell, send, receive, swap, stake and more across popular blockchains. 15,000+ coins & tokens in a single dashboard. Keep a close eye on the market. Compare service providers. Track performance. Get timely alerts. Build your portfolio with confidence.
- Enjoy Bluetooth connectivity, iOS access, and hours of battery use with this mobile-first, secure backup signer. Freedom you can depend on.
- Genuine Check: confirm your signer is authentic during setup with the Ledger Wallet app.
- Protect your signer: keep it in mint condition at all times with a bespoke Pod or Case to avoid scratches and everyday wear and tear.
Rank #4
- Dual-chip architecture for maximum protection: The next-gen, fully auditable TROPIC01 chip works alongside a certified EAL6+ Secure Element—completely NDA-free—to deliver radically transparent, industry-leading defense against physical attacks.
- Quantum-ready security: Get protection against future threats with the first-ever hardware wallet designed with quantum-ready architecture.
- See every detail with confidence: Our largest high-resolution color touchscreen makes it easy to navigate your assets, review transactions and manage your coins with clarity.
- Wireless freedom with encrypted Bluetooth control: Manage, buy, swap and stake securely using Trezor Suite on desktop or mobile. Qi2-compatible wireless charging keeps your Trezor powered up. No cables required—security meets convenience.
- Works seamlessly with Android, iOS and desktop: Connect wirelessly or via USB-C to your phone or computer. Manage your crypto anywhere with our companion Trezor Suite app.
Sources and dates
- Merlin Chain’s April 19, 2024 MERL announcement
- Merlin Chain documentation overview
- Merlin Chain tokenomics
- Merlin Chain milestone timeline
Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.
