How to Claim Your Merlin Chain ($MERL) Airdrop: A Step-by-Step Guide
Introduction
Merlin Chain, a promising Bitcoin L2 solution, is launching its native token $MERL through an airdrop. This guide will walk you through the process of claiming your $MERL tokens and provide some insights into its current market position.
Steps to Claim Your $MERL Airdrop
- Access the Airdrop Page: Navigate to the official Merlin Chain airdrop page.
- Connect Your Wallet: Link the wallet you used for staking previously.
- Check Eligibility: If you're eligible for the airdrop, you'll see a "Bind Wallet" button.
- Bind Your Wallet:
- Click the "Bind Wallet" button.
- Enter your EVM address in the provided field.
- Click "Confirm" to proceed.
Note: The official team advises against using AA (Account Abstraction) addresses.
- Confirm Again: Click "Confirm" once more to finalize the process.
- View Your Allocation: Upon successful binding, you'll see the amount of $MERL tokens you can claim tomorrow and over the next five months.
Current Market Price and Analysis
As of the latest update:
- $MERL is trading at $1.45
- It reached a high of $1.74
- 24-hour trading volume exceeds $71,450
- Open interest stands at $48,459
Token Distribution and Valuation
- Total supply: 2.1 billion $MERL tokens
- Initial release: 10.5% (220.5 million tokens)
- Estimated market cap: $319.7 million (based on $1.45 per token)
- Fully Diluted Valuation (FDV): $3.045 billion
Comparison with Other L2 Solutions
Bitcoin L2 Ecosystem
- Stacks (STX)
- Market Cap: $3.28 billion
- FDV: $4.1 billion
- Nervos Network (CKB)
- Market Cap: $876 million
- FDV: $890 million
- Merlin Chain ($MERL) (based on OTC price)
- Estimated Market Cap: $319.7 million
- Estimated FDV: $3.045 billion
If the OTC price holds, Merlin Chain could become the third-largest Bitcoin L2 solution by market cap.
Ethereum L2 Comparison
- Arbitrum (ARB): $2.965 billion market cap
- Optimism (OP): $2.258 billion market cap
- Manta Network (MANTA): $440 million market cap
- Metis (METIS): $316 million market cap
Merlin Chain's valuation is comparable to Metis and approaching Manta Network, suggesting significant growth potential compared to leading Ethereum L2 solutions like Arbitrum and Optimism.
Conclusion
The Merlin Chain airdrop presents an exciting opportunity for those involved in the Bitcoin L2 ecosystem. By following the steps outlined in this guide, eligible participants can claim their $MERL tokens and potentially benefit from the project's growth. As always, it's essential to conduct your own research and consider the risks associated with new crypto projects before participating.
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