Understand Merlin Chain’s five trump projects in one article, the most detailed on the entire network

Original source: Merlin Chain

In the 30 days since Merlin Chain, the second-tier Bitcoin network, went online, the TVL has reached an astonishing magnitude, known as " "The mysterious power from the East" has become a well-deserved popular fried chicken. With the launch of M-Token on March 19, more than US$3.2 billion in liquidity is about to be released, and various ecological projects in the Merlin system have also announced important actions.

More than 200 Dapps across various tracks are dazzling, which one should you choose? How to rush? This article will list five projects worthy of tracking from the aspects of fundamentals, economic benefits, and integration with Merlin ecology, trying to be as detailed and easy to understand as possible. Here are the key points:

・DaaS focused on Merlin ecology and powered by iZUMi MerlinSwap

・Web3 Genshin Impact produced by MOBOX, the leader of Binance chain games Dragonverse Neo

・BTC native engraving tool officially invested by MerlinUniCross

・Derivatives trading protocol selected for Binance MVB Accelerator ProgramSurf Protocol

・An over-collateralized stablecoin known as Bitcoin’s “MakerDAO + Compound” bitSmiley

DeFi: Merlin Swap

Summary of highlights

1. The team has been deeply involved in the DeFi field for many years and has launched a number of products and innovations in the Ethereum ecosystem.

2. In-depth cooperation with Merlin Chain to occupy a strong DEX ecological niche.

3. Meme coins $VOYA and $HUHU previously launched through MerlinSwap have performed well in the market.

Team background

iZUMi Finance, the DeFi team that provides support for MerlinSwap, worked on Ethereum The ecosystem has launched many products and innovations such as Liquidbox and Iziswap Pro, providing leading liquidity mining models and DL-AMM models to improve the capital utilization and user experience of on-chain transactions.

In December 2021, iZUMi tokens will be listed on Bybit, Kucoin, MEXC, Gate.io, BingX and other exchanges.

Financing situation: Investment from more than 20 funds and individual investors including Hashkey Capital, GSR, Gate Labs, and Bixin Ventures.

Product Business

MerlinSwap Protocol provides DaaS (DEX as a Service) for the Merlin Chain ecosystem , has the following characteristics:

1) Cutting-edge DL-AMM model: Utilizes advanced liquidity algorithms for fast and efficient asset swaps, thereby improving asset utilization and optimize revenue.

2) Adaptive liquidity mining: Provides static and dynamic liquidity mining options, allowing users to implement dual incentives in any price range to maximize Reduce unused liquidity.

3) Smooth user experience comparable to CEX

Community & on-chain performance

As a veteran DEX project, iZUMi has been deployed on multiple ETH L2s and achieved top results in terms of transaction volume. It currently has an on-chain transaction volume of nearly US$9 million in a single day. In recent months, MerlinSwap has facilitated over $200 million in transactions on the Merlin Chain and rewarded over 400,000 early adopters of $VOYA through airdrops.

Economic Model & Latest News

White paper portal: https://docs.merlinswap.org/

$VOYA, the first BRC-20 token previously launched fairly through MerlinSwap, has performed very well in the market. Within seven days, the transaction volume exceeded 42 million US dollars, and the number of wallets held reached 339,000, surpassing NVDA and SORA on Solana. and JUP. Therefore, the community’s expectations for the release of MerlinSwap’s native tokens are also very high.

On March 18, MerlinSwap announced the white paper and economic model, and will issue the token $MP on the Merlin Chain. The maximum supply is 21,000,000,000 coins, of which 6% For the public sale, 24% for trading rewards and 20% for airdrops.

MerlinSwap will launch an airdrop on March 27. A total of 840M (4%) of esMP tokens will initially be allocated to the community, and the remaining 16% of the airdrop share will be In the future, through community proposals and voting, it can be exchanged for $MP on MerlinSwap at a 1:1 ratio. In addition, MerlinSwap also revealed in its official tweet that it will empower Merlin ecological assets such as $VOYA and $HUHU in subsequent plans. The initial 4% airdrop of tokens includes:

1. 3% airdrop allocated to early traders of MerlinSwap

2. 0.4% airdrop Allocated to MerlinSwap’s Liquidity Provider (LP)

3. 0.2% allocated to Merlin Chain Ecosystem’s Launchpad MerlinStarter

4. 1% airdrop allocated to iZUMi community, including $iZi and $veiZi holders

More details: MerlinSwap Airdrop Details

Game: Dragonverse Neo

Summary of highlights

1. BTC’s first 3D open world, game The quality is extremely high, breaking the stereotype that "the application of the BTC ecosystem is rough".

2. Binance Labs investment and Binance Launchpool project, the leader in blockchain games, an OG team that has been deeply involved in blockchain games for more than 6 years.

3. Global operation, the community is mainly composed of overseas players, and it is expected to bring highly active and high-net-worth overseas game users to BTC L2.

4. The free and fair launch of the inscription Dragon Ball (Dragon Ball) has become the top four leading assets of BRC-420 in terms of market value within a month.

5. The game L3 on Bitcoin will be built, and native tokens applied to the game and L3 will be issued, bringing a very high degree of freedom and imagination to the empowerment of ecological assets.

Team background

The team behind Dragonverse Neo is MOBOX, which is in the game Dapp circle Almost everyone knows that in 2018 the industry started making games at a very early stage. From the well-known Ethereum Legend to ChainZArena, one of the most popular chain games of the year, to the now even higher quality Dragonverse Neo, MOBOX can be regarded as one of the few successful time travels compared to the projects that debuted together at the same time. The OG game team that is bullish and bearish, is still continuing to build, and is open to embracing new narratives.

In 2021, MOBOX was listed through Binance Launchpool, and currently has more than 200,000 currency holding addresses.

Financing status: Binance Labs, Animoca Brands, DWF Labs

Product Business

Dragonverse Neo is the first game launched by MOBOX in the Bitcoin ecosystem, with exquisite Known for its fine art and smooth graphics, it has a grand world view, integrates the popular gameplay of Parlu, Zelda, Genshin Impact, Pokémon and other masterpieces, and provides powerful UGC tools, allowing the game to quickly iterate and even Involve users in iteration.

Judging from the actual game demo clips currently released on the official Twitter, it is difficult not to be attracted by its strong anime style at first glance. Different from the single mechanism of traditional games, Dragonverse Neo adopts an open economic design, which can accommodate different mini-games and economic models to exist in parallel and resonate symbiotically in the open world. This also empowers the Merlin Chain and a series of assets in the MOBOX ecosystem. Brings great space and freedom.

In addition to games, MOBOX also revealed the product road plan of building a game-specific L3 based on BTC L2, and a game-specific three-layer network based on Merlin Chain. It aims to provide one-stop support from infrastructure to game production and distribution for game projects and creators interested in deeply exploring the Bitcoin ecosystem, making Bitcoin a chain suitable for building games. The gameplay of the chain derived from it, such as game nodes and private servers, may bring new sources of income and wealth effects to users on the chain.

Community & On-chain performance

MOBOX has accumulated a deep community foundation. $MBOX currently has more than 200,000 currency-holding addresses, and on-chain indicators such as transaction volume rank first among BNB Chain game projects all year round.

On February 3, MOBOX launched a free and fair launch of the inscribed Dragon Ball (Dragon Ball) at BRC-420, with a total quantity of 100,000 pieces. Without any pre-heating publicity, the Bitcoin network went down that night due to excessive minting. At the time of writing, Longzhu’s floor price is $136.15 and its market cap is $13.6 million, ranking it fourth among all BRC-420 assets. As the first test of the Bitcoin ecosystem, the successful release of Dragon Ball is a good start.

It is worth mentioning that MOBOX has the foundation that most current Bitcoin ecological projects are difficult to achieve in a short period of time - global operations. MOBOX's product line supports dozens of minor languages including Brazilian, Turkish, and Russian. Since the beginning of Ether Legend, European and American players have accounted for more than half of the market share, including many krypton gold tycoons and large asset owners. This is not easy. People often jokingly call Bitcoin and Ethereum a confrontation between Eastern and Western forces. Chinese are the backbone of the Bitcoin community. It is undeniable that most current Bitcoin projects are also dominated by Chinese users. Perhaps games are a good medium that can transcend differences in language and culture, allowing MOBOX to bring highly active and high-net-worth overseas gamers to the Merlin ecosystem, allowing the West to see the power of the Bitcoin community.

Economic Model

It is reported that Dragonverse Neo will issue native tokens on BTC, and the specific mechanism will be released soon. revealed in the white paper. According to official disclosures in an AMA, the following points can be confirmed at present - the game's native token becomes the ecological golden shovel, Dragon Ball serves as the golden key throughout the game and the entire MOBOX L3 ecology, and the economic model is closely related to the gameplay.

Latest news

Dragonverse Neo will announce the white paper in late March and then launch the native token Fair launch, the game is expected to be officially launched on Merlin Chain in April.

Infrastructure: UniCross

Summary of highlights

1. In-depth cooperation with Merlin Chain and obtaining official investment from Merlin Chain.

2. The team has profound development experience in BTC Ordinals and has successful product experience in BTC Inscription.

3. The officially released UniCross Genesis collection performed well, with a market value of over US$10 million.

Team background

UniCross team members are deeply involved in BTC Ordinals and EVM ecology, and have accumulated rich experience in BTC Cognition of protocol assets and product implementation capabilities, as well as rich experience in smart contract development.

The founding team members have built the largest inscription casting platform in the BTC Ordinals ecosystem, with the minting volume exceeding 25% of the total inscription volume, and its Marketplace transaction volume exceeding 5,000 BTC.

Product Business

UniCross is a platform that supports the casting of BTC L1 assets on BTC L2. Support the minting, trading and launch of BTC L1 assets in Layer2.

Minting: Supports BTC including BRC-20, Runes, ARC-20, BRC-100, BRC-420, etc. on Layer2 L1 multi-protocol asset casting currently supports BRC-20 and Runes protocol assets.

Trading: A Marketplace that provides order book trading. Currently, stToken trading is open.

Swap: Provides Swap for stToken and ERC-20 Token of cross-chain BTC assets.

LaunchPad: Provides the launch of BTC layer assets in L2.

UniCross has excellent product capabilities, including the following advantages:

1. User-friendly: The cross-chain casting is completed at one time, and the operation is simple. The casting is completed in two steps and the transaction is completed in three steps.

2. Multi-asset payment: Supports more BTC protocol assets including BTC, BRC-20 and other BTC protocol assets as well as multi-chain asset payments.

3. Multi-chain: In the future, it will support more than 90% of BTC Layer2 and more other public chains.

4. Instant transactions: One layer of casting is completed and can be traded instantly on the Marketplace without waiting for cross-chain completion.

5. Better liquidity: BTC L1 assets will receive better liquidity on the BTC Layer2 infrastructure.

Community & on-chain performance

Previously UniCross released the UniCross Genesis collection through the Ordinals protocol. And airdropped to all users who participated in the internal test. As of the time of writing, the floor price is: 0.115 BTC, with a market value of up to $10 million.

Latest news & ecological cooperation

On March 20, UniCross officially launched on Merlin Chain The mainnet is online, supporting multi-asset payments such as BTC, WBTC, iUSD, Voya, HUHU, RATS, MMSS, BTCs, and AINN.

In addition, UniCross announced that it will launch LaunchPad this week (before March 24) and start the first phase of launch: the first symbol on Merlin Chain Wen token $RUFI, $RUFI introduces the concept of "talisman swap" and supports 1:1 exchange of BRC-20 tokens for Runes tokens. It is reported that $RUFI will airdrop 25% to Merlin Chain users and 75% for fair launch.

As a native on-chain tool for BTC, UniCross has established extensive cooperation with BTC ecological projects. Including Merlin ecological projects such as MerlinSwap, Bitsmiley, Surf Protocol, and Influpia, as well as BRC-20 communities such as RATS, MMSS, AINN, and BTCs, expanding more possibilities in asset payments, liquidity solutions, application scenarios, and more.

Derivatives: Surf Protocol

Summary of highlights

1. One of the Binance MVB Accelerator Program projects, received from ABCDE investment from well-known institutions.

2. Merlin Chain’s first native derivatives project has designed many product mechanisms that adapt to the BTC ecosystem (LP single asset provides liquidity, satoshi-based margin model, etc.).

3. It has good innovation (fund reuse of LP certificates, pre-market market for unreleased projects, etc.).

Team Background

The Surf Protocol team is composed of experts from top industry institutions such as Amber and Huobi It is composed of founders and core members. As one of the projects of Binance’s Most Valuable Developer (MVB) accelerator program, it has received investment from well-known institutions such as ABCDE and Inception Captial.

Product Business

A license-free AMM derivatives trading protocol, focusing on BTC L2. Its product line not only includes derivatives trading, but also extends to pre-market trading, spot leverage trading, etc., thereby meeting the different needs of users from multiple perspectives.

As a native BTC L2 project, Surf Protocol has made many innovative mechanisms in product design to adapt to the BTC ecosystem, including:

1. LP single asset provides liquidity

2. Fund reuse of LP certificates

3. Satoshi-based margin model

4. The connotation of the peer-to-peer pool model

5. Pre-market trading market for unreleased projects

Community & on-chain performance

As of this writing, there is no traceable on-chain data.

Economic Model

Surf Protocol has not yet announced a token issuance plan. There are currently two ways to play:

1) Margin trading, supporting up to 50 times leverage

2) Manage money, become an LP, deposit single coins into the liquidity pool, and earn transaction fees.

It is reported that in the initial stage, $BTC, $ETH, $ORDI, $SATS and other larger and more stable currencies will be listed first, and will focus on derivatives. The contract leverage trading in the product will be included in options and other products in the future.

Latest news

On March 20, Surf Protocol announced Testnet is online, please wait and see for subsequent developments.

Stablecoin: bitSmiley

Summary of highlights

1. Bitcoin Ecology "MakerDAO + Compound".

2. Its over-collateralization mechanism has leverage attributes, thereby improving the fund utilization rate of the Bitcoin ecosystem.

3. The bitDisc-Black NFT card market discovered by free casting is doing well, and early participants may receive potential airdrops.

Team background

Currently, we have received funding from OKX Ventures, ABCDE, CMS, ArkStream Capital, Investments from several leading institutions including Foresight Ventures.

Product Business

bitSmiley is a BTC-native over-collateralized stablecoin project that currently includes the following Product business lines:

1) BitUSD: decentralized stable currency protocol. Users can generate bitUSD by depositing Bitcoin into bitSmiley's smart contract. If they need to withdraw the deposited Bitcoin, they need to repay the generated bitUSD and pay a certain fee. If the price of the collateral is lower than a certain threshold, liquidation will be triggered. , and executed on BTC L2.

2) Lending protocol bitLending: A completely decentralized peer-to-peer lending protocol, users can choose to lend any bitRC-20 tokens, including bitUSD, using high-value and Highly liquid cryptocurrency as collateral.

Community & On-chain Performance

bitSmiely The OG NFT bitDisc series has been launched as a voucher for early participants, divided into two series, including bitDisc-Gold with a total amount of 100 and an invitation system, and bitDisc-Black with a total amount of 10,000 and launched by Free Mint.

As of writing, bitDisc-Black’s floor price is US$3,467.79, with a market value of US$34.67 million. It has officially joined Merlin Chain’s pledge mining activity Merlin Seal.

Economic Model

Portal: bitSmiley White Paper

It is reported that OG NFT bitDisc, as a voucher for early participants, may be empowered with potential airdrops and points in the future.

Latest news

On March 13, bitSmiley announced the launch of M-bitDisc-Black in Stake on bitSmiley to earn bitJade and unlock a range of benefits. On March 19, bitSmiley announced the launch of closed internal testing of the test network.