Merlinswap, Merlinchain, and Why It Matters
De-fi has come to the mother chain.
So have NFTs, memecoins, shitcoins, and every other use case. It’s not a fad either.
Node Monkes flipping Bored Apes for a minute wasn’t a flash in the pan or a narrative of the week. It was the canary in the coal mine for Ethereum’s primary use cases.
“Bitcoin wasn’t designed to do that” — everyone, c. 2022
One possible perspective, one which I hold, is that everything that happened on other blockchains were experiments. Important ones that helped define and shape many of the layers of the tech stack. But the long term security layer is obvious. Was always obvious. For all time will be obvious. First is first.
The dress rehearsals are over. Bitcoin is now the real estate upon which web3 is being built, right now, in this cycle.
If we’ve established that we really only need one security layer, (i.e. L1), the only unknown is the computation layer — built for speed, efficiency, and scalability. Enter Merlinchain.
The Genesis of Merlinchain
I was trying to explain the concept of BTC L2s to my dad. An actual boomer, technically. I didn’t expect it to make much sense to him.
“So it’s using the same tracks, but stopping at different stations carrying different stuff?” — my boomer dad
YES. Holy shit, that’s it, you got it.
Merlinchain launched at the beginning of the year to minimal fanfare, with the staking program known as Merlin’s Seal. It quietly vacuumed up over $3 Billion TVL, the majority of which is BTC. As well as BRC20s, BRC420s, ordinal blue chips. Node Monkes. And now Runestones.
They partnered with Particle Network which rolled out BTC Connect, bringing their modular Account Abstraction technology to BTC assets. This technology enables BTC-native wallets, such as Unisat, to control BTC-native assets on an Ethereum Virtual Machine (EVM) chain. To enjoy the scalability, speed, and efficiency of EVM without departing from the Bitcoin ecosystem.
Put simply, you can now do “stuff you can’t do on Bitcoin” on Bitcoin. Using the same tracks, but stopping at different stations carrying different stuff. BTC-native stuff.
There are many players in the BTC L2 race, and many more will emerge, but Merlinchain has an interesting position. There’s a lot to be bullish on.
Merlinswap: The DEX Of Merlinchain
De-fi is one of the primary use cases where an EVM chain will shine with BTC assets. Merlinswap was an obvious first application and it launched alongside Merlinchain.
Some of its features include:
Dual Liquidity Automated Market Maker (DL-AMM), a liquidity algorithm designed to provide fast, efficient asset swaps and capital optimization.
Adaptive Liquidity Mining provides users with both static and dynamic liquidity mining options, enabling the implementation of dual incentives across any price spectrum. The idea is to reduces unutilized liquidity, thereby maximizing the economic utility and efficiency of the platform.
The user interface is simple enough for anyone familiar with de-fi applications to use intuitively on the first try.
Merlinswap Governance Token: $MP
The early launches of VOYA and HUHU were a massive success. The Grand Voyage of Merlin Chain was a shakedown cruise; a stress test for the minimum viable product. It works.
Showing confidence in their plan, the Merlinswap team is moving ahead with an IDO, an initial DEX offering, for their native governance token, $MP. For this, they are partnering with MerlinStarter, a brand new launchpad for BTC L2. The token economics are designed to ensure broad participation and alignment of interests within the community, with allocations for public sales, airdrops, trading rewards, and liquidity provisioning, among others.
MP is A Leveraged Bet on the Success of Merlin
Comparing $MP with other native exchange coins like BNB, betting on Merlinswap might represent more than just an investment in a DEX but a leveraged bet on the success of Merlinchain itself. A robust chain needs a robust exchange, so if Merlinswap continues to deliver, one might reason that the native token of the DEX might benefit.
For details on the upcoming $MP IDO, visit this link to learn more:
https://medium.com/@MerlinStarter/merlinstarters-ido-debut-mp-launch-introduction-f123c7d9aeb8
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