Mineral

Mineral is a native Bitcoin DeFi project on Merlin Chain that issues inscriptions tied to real-world assets through the BRC-420 standard, with Bitcoin hashrate as the main underlying. It brings net mining revenue on-chain to produce a yield-bearing asset backed by cash flow rather than by subsidies and locked liquidity.

The structure has an inscription layer and a treasury layer. Inscriptions staked on the layer 2 can be exchanged for Bitcoin-denominated yield, while the treasury token MNER is backed by hashrate RWA, with the treasury steadily adding income-producing assets so that net revenue, cross-project revenue shares and new acquisitions all enlarge it. Composability lets it stack with other BRC-420 projects, so one collateral position produces several outputs and a single asset's return splits into hashrate, partnerships and asset appreciation.