Bitcoin L2 Merlin Chain, whose TVL exceeded US$3 billion in less than two months, announced yesterday (17th) that the airdrop points page has been opened for inquiry. Users can go to the website to check points and $MERL airdrop quantity. And $MERL will be listed on OKX, HashKey and other exchanges at 6 pm on the 19th.
Open for users to apply for $MERL
Today, the official announced again that the website is now open for users to claim $MERL. After participating users claim, the team said it will conduct an airdrop from 2 to 4 pm tomorrow afternoon. Other announcement matters are as follows:
- Please fill in the EVM address (such as Metamask and other wallets). This is because most CEX do not accept transfers from AA wallets, so do not enter the AA address.
- Tomorrow’s airdrop will unlock 50%, and 25% / 12.5% / 6.25% / 3.125% / 3.125% will be released sequentially in the next 5 months.
- Merlin went online in February and airdropped tokens in April. Users received 10.5% of the token supply on TGE, totaling over 21% in 6 months. The team says this is the largest fair launch of any Layer 2.
- In the first 6 months, only user tokens were circulating in the market. (Team tokens are released linearly after 24 months of locking, which means 24 months of locking first + 24 months of release = 48 months, and it also takes 24-48 months for institutions to unlock.)
Apply for teaching
- Enter the airdrop points page and link to the wallet you originally pledged;
- If there is a short investment qualification, the "Bind Wallet" button will appear;
- Click the "Bind Wallet" button, fill in the EVM address and click "Confirm" (as shown on the left below). Note that the official said not to fill in the AA address;
- Click "Confirm" again;
- If you succeed, you will see the picture on the right below, and you will see the amount of $MERL that you can apply for tomorrow and the next 5 months.
The OTC price is currently quoted at 1.45 mg
According to data from the over-the-counter market Aevo, $MERL is currently trading at $1.45, with a peak of $1.74. The trading volume in the past 24 hours exceeded $71,450, and the open interest was $48,459.
The total supply of $MERL is 2.1 billion, and 10.5% of the tokens will be released tomorrow, which is 220.5 million. If calculated at a price of $1.45, the market value will be close to $320 million and the FDV will reach $3.045 billion. This can be compared with the following data Comparison, as a judgment on the valuation of Bitcoin ecological L2:
- The current largest Bitcoin L2 Stacks has a market value of US$3.28 billion and an FDV of US$4.1 billion; CKB, which has attracted much attention this year, has a market value of US$876 million and an FDV of US$890 million. If the OTC price is true, Merlin will become the third largest Bitcoin L2 in one fell swoop.
- Compared with Ethereum L2, Merlin's market value is close to Metis's US$316 million, directly catching up with Manta's US$440 million, and compared with the market values of leading ARB and OP of US$2.965 billion and US$2.258 billion, there is still a lot of room for growth.
