Bitcoin’s L2 Merlin Chain Unveil Merlin Phantom For Bitmap, There’s A Catch

The highly anticipated launch of Merlin Phantom for Bitmap introduces an innovative platform that revolutionizes the swapping experience for cryptocurrency users. Now live, this platform allows users to exchange 1 Bitmap for 10,000 Bitmap Runes Tokens (THE BITMAP TOKEN) or vice versa on UniCrossGlobal. Early adopters, using AA wallets, can enjoy gas-free transactions for about a week, enhancing the user experience by eliminating one of the common cost barriers in crypto transactions.

In addition to this, users have the opportunity to accumulate Unicross Points, which further incentivizes participation. Soon, trading of Bitmap Runes Tokens on MerlinSwap will be enabled, also without gas fees, accompanied by significant incentives including over 400,000 MERL tokens allocated for Bitmap Token Farming. This initiative is poised to transform the trading landscape by offering zero swap fees, zero gas fees, and more UniCross Point rewards, making it a highly attractive option for users.

Phantom’s Role in BTC Asset Swaps

Phantom is set to become a pioneering BTC Asset swap protocol on the Merlin Chain, significantly enhancing the liquidity and usability of various BTC assets such as RUNES, BRC-20, BRC-420, and Ordinals NFT. This protocol, developed through a collaboration between UniCross and Merlin Chain, aims to provide a robust platform for the exchange of these assets, ensuring more application scenarios and better liquidity.

Bitmap, the first asset to launch on Phantom, offers users a straightforward swap mechanism where 1 Bitmap can be exchanged for 10,000 THE BITMAP TOKEN at a fixed rate, regardless of market fluctuations. This fixed exchange rate provides stability and predictability for users engaging in swaps. To ensure the security and integrity of the platform, Phantom’s contract underwent a rigorous audit by Scalebit, a leading contract auditing firm. This pre-launch audit shows the commitment to safeguarding users’ assets and building trust within the community.

Also Read: VanEck Advisor Slams TradFi Over GameStop Saga, Hails Bitcoin

UniCross Points Reward Event

To celebrate the launch of Phantom, UniCross is hosting a reward event that offers compelling incentives to participants. Running from June 7th, 5:00 (UTC) to June 14th, 5:00 (UTC), this event eliminates transaction and gas fees for trades conducted on Phantom, making it highly cost-effective for users. Participants in this event can earn UniCross points, with additional bonuses available for holders of $RUFI, $Merl, and UniCross Genesis.

These points can be redeemed for UniCross tokens in the future, providing ongoing value to participants. The reward structure is tiered to encourage active participation: swapping 1–10,000 Bitmaps earns 1,000 points per Bitmap, 10,001–50,000 Bitmaps earn 600 points per Bitmap, and over 50,000 Bitmaps earn 300 points per Bitmap. Conversely, swapping THE BITMAP TOKEN for Bitmap earns 300 points per token swapped.

Furthermore, holders of $RUFI, $Merl, and UniCross Genesis receive bonus points, enhancing their reward potential. The bonus points are calculated based on the highest applicable bonus if multiple assets are held. A snapshot taken at the end of the event will determine the distribution of these bonus points. Specifically, holding 10M $RUFI or 200 $Merl grants a 1% bonus per unit, while each UniCross Genesis held provides a substantial 20% bonus, with a maximum cap of 100% bonus points. This structure is designed to reward loyal and engaged community members.

Additionally, during the event, trading Bitmap for THE BITMAP TOKEN incurs no swap fees, and swapping THE BITMAP TOKEN for Bitmap is subject to a minimal transaction fee of just 0.00001 BTC. Trading on Phantom using the Particle Wallet offers a gas-free limit of $50,000, available on a first-come, first-served basis, ensuring a smooth and cost-effective trading experience. To manage transaction packaging limitations, the maximum swap limit per transaction is set at 25 Bitmaps, ensuring an efficient and user-friendly process for all participants.

Also Read: MEW Price Soars 18% Amid Major Listing Announcement

The post Bitcoin’s L2 Merlin Chain Unveil Merlin Phantom For Bitmap, There’s A Catch appeared first on CoinGape.