Demex Daily #137: Merlin Chain Launches $MERL Token Boosting Bitcoin Layer 2 Ecosystem

What’s Interesting Today:

Merlin Chain, a leading Bitcoin Layer 2 protocol, has launched its native cryptocurrency, $MERL, after achieving a notable $3.6 billion in total value locked (TVL). The $MERL token, built on the BRC-20 standard, boosts the platform’s functionality by supporting governance, network security, and enabling transaction fee payments and use as ecosystem collateral. The token has a total supply of 2.1 billion, with distribution including 20% airdropped to participants of the Merlin’s Seal event, allocations for public and private sales, provisions for advisors, the core team, and funds set aside for community incentives and ecosystem development. Merlin Chain's expansion of Bitcoin's capabilities includes $MERL listings on several top exchanges, with trading initiating on April 19, 2024.

Telos Foundation has partnered with Ponos Technology to create a hardware-accelerated Ethereum layer 2 network utilizing Telos's SNARKtor, a decentralized recursive proof aggregator. During its development, Telos will also collaborate with several new partners, including the Ethereum development team Digital M.O.B., Web3 incubator ATKA, and Cometh, a development team led by Jerome De Tychey, President of ETH France.