What is M-Token?

M-Token is the voucher generated when assets are staked on Merlin Chain during the Merlin's Seal event, serving as a representation of Bitcoin Layer1 assets on Merlin. For instance, users that staked BTC would receive the equivalent amount of M-BTC in their Layer2 address.

On March 19, 2024, Merlin Chain opened M-Token claiming, allowing participants to mint M-Tokens with 0 gas fees. As a staking certificate, M-Tokens correspond to Layer1 assets as follows:

  • Tokenized assets:

    • Participants receive an equivalent amount of M-Tokens on Layer2. For example, BTC stakers receive corresponding M-BTC, and USDT stakers receive M-USDT.

  • NFT assets:

    • When issuing M-Tokens on Layer 2, metadata typically contains information such as the corresponding Layer 1 NFT number and inscription ID, facilitating correspondence with Layer1.

Eligible Staked Assets

  • $BTC


  • $Bitmap

  • BRC-420 (Bluebox, Dragon Bal , Mineral)

  • $ETH

  • $USDT / $USDC

Supported Wallets

  • UniSat Wallet

  • OKX Wallet

  • Bitget Wallet

  • Bybit Wallet

Currently, the Merlin’s Seal event has concluded, and users can exchange M-Tokens 1:1 for Layer 1 assets and bridge them out of Merlin Chain. Please note that if M-Tokens are sold or lost during the locking period, users will not be able to redeem their assets through un-staking. However, the Merlin’s Seal event points will remain unaffected.

Last updated