♂️ MERL’s value model revolves around a revenue-backed buyback loop aimed at creating a deflationary supply dynamic. A share of revenue from its BTCFi operations is used to repurchase $MERL from the market, theoretically strengthening price stability and rewarding long-term holders. The model’s success depends on whether this buyback force can outpace the constant inflationary pressure from large, scheduled token unlocks, a challenge made harder by the absence of transparent data on total repurchases. Beyond speculation, utility demand exists for governance, gas payments, and collateral use across the growing DeFi ecosystem. Merlin Chain continues to expand its ecosystem with a 210M $MERL grant initiative to attract developers, a Sui integration for cross-chain expansion, and a partnership with ElizaOS to bring AI-driven features into the protocol. The upgraded AA wallet now supports $MERL as a gas token, improving accessibility. Technically, the network combines Polygon CDK, Celestia, and a decentralized oracle network to deliver scalability and data security, though this reliance on third-party infrastructure introduces systemic risk. Merlin’s path forward depends on flawless execution, turning its deep institutional support and BTCFi momentum into sustainable, verifiable on-chain growth. @EdgenTech $MERL $BTC