According to PolynomialFi, the MERL ($MERL) token market is now live for trading on Polynomial with support for multi-collateral margin, leveraging the MerlinLayer2 protocol built on Bitcoin and enhanced by zero-knowledge technology. The integration with PythNetwork provides real-time price feeds, aiming to improve trading precision and liquidity. This launch introduces a Bitcoin-based DeFi derivative with advanced margin options, which could attract active traders seeking exposure to innovative trading infrastructure (source: @PolynomialFi, June 12, 2025).