Merlin ChainMERL

Merlin Chain generated $525.4K in gross revenue from Jun 2025 to Sep 2026 (453 days), with $525.4K retained as net revenue. Its primary token utilities include Network Security, Staking Rewards, Other, and Standard 1:1.

This averages $$1.2K in daily gross revenue across the tracked period.

No, Merlin Chain does not currently burn MERL tokens. The protocol does not employ a buy-back-and-burn or direct token burn mechanism.

MERL serves 4 primary functions within the Merlin Chain ecosystem: Network Security, Staking Rewards, Other, and Standard 1:1. The protocol generates fees from user activity.

Token utilities:

• Network Security: MERL is staked in a delegated PoS model to secure consensus, prevent Sybil attacks, and validate transactions. A slashing penalty system deters malicious behavior, with ~52% of circulating supply staked.
• Staking Rewards: Stakers earn 12–18% APY depending on network conditions, with a promotional 45% APR fixed-term option. 20% of total MERL supply was allocated for staking rewards via Merlin's Seal, and ongoing PoS staking rewards are planned.
• Other: MERL can optionally be used as gas within the AA wallet infrastructure on Merlin Chain, though native BTC (Merlin_BTC) is the primary gas token for the L2.
• Standard 1:1: MERL governance operates on a one-token-one-vote principle where each MERL token represents one vote. Any holder can propose changes and vote, with voting power directly proportional to token holdings.

In 2026, Merlin Chain generated $122.4K in gross revenue. Of that, $122.4K was retained as protocol revenue (treasury).

Year-by-year revenue breakdown:

• 2026: $122.4K gross revenue — $122.4K to protocol
• 2025: $403.0K gross revenue — $403.0K to protocol

Merlin Chain's gross revenue has decreased by 61.8% over the past 90 days compared to the prior 90-day period, from $21.3K to $8.1K.

• Recent 90d daily average: $91/day
• Prior 90d daily average: $236/day