Log In
CoinEx Academy

Unveiling MERL Token: Transforming Bitcoin with Layer 2 Innovation and Zero-Knowledge Proofs

2024-04-19 10:22:07
Merlin Chain

Since the introduction of Layer 2 solutions, more transactions are being handled in blockchain, and the Layer 2 solution offers lower gas fees with a great user experience. A new coin named MERL token has been launched on Merlin Chain, a Bitcoin Layer 2 that integrates the ZK-Rollup network. The Merlin chain has been garnering a lot of attention in the blockchain industry, as shown in its data. One of the data is that its total value locked(TVL) is over $800 million, with monthly growth of 2864%, according to data from DefiLlama, making it rank among the top 15 chains as of April 19th. This chain continues to create buzz in the blockchain industry.

Merlin ranking 11

What is MERL Token?

MERL is the native token of Merlin Chain, a Layer 2 solution for Bitcoin, which incorporates critical components such as ZK-Rollup networks, decentralized oracle networks, and fraud proofs into the Bitcoin chain.

Its major goal is to enhance Bitcoin Layer 1's native assets, protocols, and application ecosystem, allowing for continuous innovation and maximizing asset potential on Layer 2 networks.

Merlin Chain is committed to boosting Bitcoin's original assets, protocols, and products on Layer 1 via its Layer 2 network to make Bitcoin fun again.

Merlin Chain uses zero-knowledge proofs submitted to Bitcoin to verify commitments, offering additional support to the Bitcoin network.

It enables challengers to offer fraud proofs on disputed matters while ensuring the Merlin Chain network's security by leveraging Bitcoin's powerful consensus mechanism. This assures that ecosystem users have access to a secure, practical, comprehensive, and cost-effective network environment.

How to Buy MERL Tokens?

CoinEx is a cryptocurrency exchange trusted by over 5 million customers worldwide, with 100% reserve. With over 900 tokens accessible, including MERL, users can exchange easily. To purchase MERL tokens on CoinEx, follow these steps.

MERL token on CoinEx
  1. Create an account: Register for a CoinEx account.
  2. Deposit Funds: After logging in, fund your CoinEx account using any supported coin or deposit method offered by the exchange. With funds in your account, you can trade with ease.
  3. Go to MERL Trading Page: Once your account has been funded, go to CoinEx's dedicated MERL trading website. Use the search box on the spot trading page to find MERL trading pairs by entering the phrase "MERL."
  4. Select a trading pair: To trade MERL against USDT (Tether), use the MERL/USDT trading pair. (
  5. Specify the purchase amount: The next step is to specify the quantity of MERL you wish to purchase. On the trading page, you can buy them at the market price or set a limit based on your preferred price.
  6. Execute the trade: Proceed with the supplied amount. Confirm the information, and if satisfied, submit the order.

History of MERL Token

Merlin Chain is a product line of Bitmap Tech (formerly known as RCSV). Bitmap Tech has previously released products such as Bitmap Explorer and BRC-420. Bitmap Tech, founded by Jeff, has long been committed to the Bitcoin ecosystem.

Jeff was an entrepreneur in the Web2 business for over a decade before starting Bitmap Tech, and he has received funding from industry giants like Sequoia Capital, IDG Capital, BAI Capital, 5Y Capital, and Vitalbridge, paving the road for one success after another.


 *This article does not constitute investment advice.

CoinEx Loans: High LTV, Borrow and Repay at Will, Empowering Users for Short-term Gains in Bull Market
What Is Jupiter and How to Buy JUP Tokens?