# Merlin Chain (MERL): D-Score 25/100 — Centralized Leaning

**BlockIndex D-Score: 25/100 (Centralized Leaning).** Merlin Chain (MERL) is a Layer 2 cryptocurrency using PoS consensus. Merlin Chain: Bitcoin-native ZK-rollup Layer-2 enabling EVM-compatible dApps, Taproot ZK proof aggregation, and collator staking.

_Source: https://blockindex.ai/coin/merl · Data by BlockIndex.AI · Updated 2026-06-19_

## D-Score breakdown (0-100, higher means more decentralized)
| Component | Score |
| --- | --- |
| Overall D-Score | 25 |
| Node distribution | 0 |
| Initial distribution | 0 |
| Governance | 16 |
| Age and history | 9 |
| Autonomy | 0 |

## Key facts
- Layer: Layer 2
- Consensus: PoS (N/A)
- Launch: Fair Launch (2024)
- Founder: Jeff Yin
- VC funded: No
- Max supply: 2,100,000,000
- Circulating: 1,313,913,132 (62.6%)

## Market data (as of 2026-06-19)
- Price: $0.02
- Market cap: $27.38M
- 24h volume: $3.71M
- 24h change: -0.67% · 7d change: +6.56%

## About
Merlin Chain (MERL) is a Bitcoin-native Layer-2 protocol launched in January 2024 by Bitmap Technology (formerly RCSV) with the stated mission of bringing high-throughput, low-cost, EVM-compatible programmability to assets that ultimately settle on Bitcoin. Architected as a ZK-rollup that integrates Taproot-based aggregated zero-knowledge proof proposals and Bitcoin-anchored fraud proofs, Merlin Chain is positioned to combine the security guarantees of Bitcoin with the execution and composability familiar to Ethereum-style smart contracts. The project emphasizes a collator/staking security model and data availability partnerships (notably Celestia and Nubit in the supplied materials) to support scalable batch submission and robust data storage for rollup transactions. The MERL token is described as the native economic instrument for staking, collator operation and delegation, fee payment for L3s, and liquidity/collateral across the Merlin ecosystem. Bitmap Technology's prior product experience (Bitmap Explorer, BRC-420) and the founder's background (Jeff Yin, Web2 entrepreneur) are cited as contributors to early credibility and investor interest.

Technically, Merlin Chain combines zero-knowledge proof aggregation with a two-step proof submission mechanism intended to reduce on-chain costs while retaining verifiability on Bitcoin via fraud-proof constructs. The network aims for EVM compatibility, enabling developers to port or build smart contracts and dApps while settling finality on Bitcoin. The architecture described in the provided sources references named data availability collaborations (Celestia, Nubit) and oracle integrations (Chainlink mentioned) to support off-chain data and price feeds. The protocol’s security model centers on collator nodes and staking/delegation rather than traditional proof-of-work mining; the scraped materials imply a PoS-style consensus tailored to rollup operation. While exact low-level parameters (block timing, TPS, block reward, chain ID) were not present in the supplied files, the project narrative centers on scaling, proof aggregation, and data-availability strategies tailored for Bitcoin’s unique environment.

On tokenomics and market presence, Merlin Chain established a capped supply of 2.1 billion MERL at genesis with a reported circulating supply of 1,088,486,883 MERL (≈51.83% of max supply) in the included CoinMarketCap snapshot. The MERL token was made available on multiple centralized exchanges and is the unit for staking collateral, fees, and ecosystem incentives. The documentation references an announced $210 million ecosystem grant program to bootstrap builders and on-chain activity; exact distribution mechanics, premine percentages, and pre-issue allocation details were not enumerated in the scraped content. CoinMarketCap/Crypto snapshots in the provided files show market values (price ~$0.3840 at the referenced snapshot, market cap ≈$417.99M, ATH $1.55 on 2024-04-19, ATL $0.07123 on 2025-04-16, 24h volume ~$24.03M). The material included a truncated token contract reference (0xa0c5...7107F9) but did not provide a verified GitHub repository or a full detailed emission schedule in the supplied data.

Governance and organization details in the provided materials present Merlin Chain as a product line of Bitmap Technology rather than an on-chain DAO-governed protocol. The founder Jeff Yin is named consistently, but no explicit CEO title or detailed governance voting mechanics were provided in the supplied sources. Staking and collator delegation are described as core operational mechanics for network security and participation, but the sources lacked specifics about on-chain governance proposals, token-weighted voting, or treasury timelocks. Infrastructure-wise, the project lists partnerships with data availability providers (Celestia, Nubit), oracle integrations (Chainlink mentioned), and listings on Tier-1 centralized exchanges (OKX, KuCoin, Bybit, Bitget, Binance, Kraken in the verified exchange list). Notable gaps remain in the scraped content—explicit wallet support, full block/transaction statistics, GitHub/OSS links, and detailed regulatory filings were not present and should be validated against official project documentation and on-chain explorers before any production integration or custodial support is provisioned.

## Links
- Website: https://merlinchain.org/
- Whitepaper: N/A
- GitHub: https://github.com/merlinchain

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About the D-Score: BlockIndex.AI rates decentralization from 0 to 100 across node distribution, initial distribution, governance, age and history, and autonomy. Methodology: https://blockindex.ai/dscore