Merlins Seal bridge
Overview
Merlin Chain, a Bitcoin layer-2 network, operated a campaign called Merlin's Seal that involved depositing and staking assets. This initiative was linked to the equitable distribution of its governance token, MERL. Participants staked their holdings to accrue M-points, which subsequently dictated the allocation of MERL rewards. DefiLlama classifies the campaign under its bridge category, noting deposits on Bitcoin, Ethereum, Arbitrum and zkFair.
Within The Counterparty graph, Merlins Seal connects to 8 tracked entities, most strongly to Ethereum, Bitcoin, Arbitrum.
Relations
Top connections in The Counterparty knowledge graph (confidence-weighted, 8 of 8 total).
| Relation | Connected entity | Confidence |
|---|---|---|
bridges | Ethereum | 95% |
bridges | Bitcoin | 95% |
bridges | Arbitrum | 95% |
bridges | Zkfair | 95% |
deployed_on | Ethereum | 85% |
deployed_on | Bitcoin | 85% |
deployed_on | Arbitrum | 85% |
deployed_on | Zkfair | 85% |
Sources
Facts in this record were checked against the following. Where a claim is not covered here, the record states only what the graph holds.
Questions on the record
How were rewards allocated?
Rewards were allocated to participants who staked assets, earning M-points that determined their share of MERL distributions.
Which chains did it accept deposits from?
Deposits were accepted from Bitcoin, Ethereum, Arbitrum and zkFair, as recorded by DefiLlama.