Merlin Chain (MERL) Investment Research:
Total issuance: 2.1 billion
Merlin Chain is a native Bitcoin Layer2 that aims to empower Bitcoin's native assets, protocols and products on Layer1 through its Layer2 network. Merlin Chain's underlying infrastructure is built on Polygon's ZK technology, with a decentralized Oracle network for data availability, powered by Lumoz's decentralized ZK computing power network for ZKP calculations. It allows challengers to propose fraud proofs and use Bitcoin's powerful consensus mechanism to ensure the security of the Merlin Chain network on controversial matters.
Merlin Chain is a sub-product line of Bitmap Tech. Bitmap Tech (formerly RCSV) has long focused on the Bitcoin ecosystem, with an overall market value of more than $500 million. The company's BRC-420 "blue box" has become one of the most popular assets in the Ordinals protocol.
Financing
Merlin Chain, a native Bitcoin Layer2 project, announced that it has received rounds of financing from 24 investors, including OKX Ventures, ABCDE, Foresight Ventures and Arkstream Capital.
This round of funding will enable the team to further enrich its ecosystem and improve overall liquidity. To date, Merlin Chain has built a strong DApp ecosystem with plans to expand further. Although the Merlin Chain team has shown optimism and confidence in its products, as we know, practice makes perfect. There is no doubt that this round of funding will support them to continue to develop the ecosystem and improve overall liquidity, but whether it can truly promote Bitcoin native innovation remains to be seen.
Team Information
The team is composed of firm believers in the Bitcoin ecosystem, with rich global experience and expertise covering aspects such as product development and launchpad operations.
As a loyal believer in Bitcoin for many years, the Bitmap Tech team behind Merlin Chain is committed to the development of the Bitcoin ecosystem. Their goal is to bring more users and assets to Bitcoin through their work, rather than serving other ecosystems in the name of Bitcoin.
Suggested entry price: 0.6 near batches of positions
