Singapore, Singapore, September 9, 2024, Chainwire
Merlin Chain, a revolutionary Bitcoin Layer 2 platform, has achieved unprecedented milestones in just six months, solidifying its position as the largest Layer 2 in the Bitcoin ecosystem. With Total Value Locked (TVL) surpassing $1.2 billion and Bridge Transactions surpassing $16 billion, Merlin Chain has redefined the way users interact with Bitcoin, strengthening its underlying asset, facilitating liquidity, and driving innovative ecosystem development.
Since its launch in early 2024, Merlin Chain has grown to become the largest Bitcoin native network, with 1.9 million on-chain addresses and over 12.7 million transactions processed. The platform has also become the leading hub for Bitcoin native assets, hosting over 80% of all Bitcoin native asset holders.
Merlin Chain's notable achievements in the first half of 2024 include:
- Adoption and network growth: With TVL growing rapidly to $3.9 billion and unique addresses reaching 1.9 million in just 50 days since its mainnet launch, Merlin Chain continues to lead the Bitcoin Layer 2 space.
- The strength of liquidity: Merlin Chain has processed over $16 billion in BTC bridge trading volume, of which $1 billion is spot trading and $1 billion is perpetual trading, solidifying its position as a key player in Bitcoin liquidity.
- A thriving ecosystem: Merlin Chain now supports over 200 decentralized applications (dApps) across DeFi, BTCFi, games, NFTs, and more. Leading platforms such as UniCross, Solv Protocol, Avalon Labs, and MerlinSwap have contributed to the growth of this robust ecosystem, providing innovative services and liquidity solutions to the community.
- Fair token distribution: Tokens are distributed fairly across the community. $MERL inflation has slowed significantly, reaching just 0.4% over the next 12 months.
$210M MERL Ecosystem Grant to Accelerate Expansion
Merlin Chain is further strengthening its leadership $210M MERL Ecosystem Grant Program The June grants will focus on user experience, Bitcoin-based asset innovation, ecosystem participation, and developer tooling enhancements. The grants aim to expand the platform’s ecosystem by supporting builders and innovators to contribute to the future of Bitcoin Layer 2.
Technological advancements and security
Merlin Chain’s commitment to innovation is supported by its cutting-edge technology architecture. The platform implements: ZK-Rollup Technology and Multi-Token Staking Oracle Node Enhance security, scalability and transparency by integrating solutions such as: Babylon and BTC Staking/Re-StakingMerlin Chain is pioneering a new way to optimize the returns of Bitcoin-based assets.
Merlin Chain also partners with leading security companies such as: Celestia For data integrity Kobo For advanced MPC wallets, we ensure that users have access to cutting-edge technology to protect their assets. Merlin Chain also Merlin Security CouncilThis includes notable partners such as: Slow mist and BlockSecSecurity infrastructure has been further strengthened.
Looking to 2024
Merlin Chain continues to lead Bitcoin Layer 2 innovation and is gearing up for further expansion in the second half of 2024. With plans to integrate Bitcoin’s latest protocol updates and drive further growth in the ecosystem, Merlin Chain aims to become the dominant force in Bitcoin-based assets, liquidity, and interoperability across multiple chains, including EVM, Solana, and TON.
“We are incredibly proud of the progress we have made in such a short time,” said Jeff, founder of Merlin Chain. “Our success would not have been possible without the support of our community and innovative partners. As we look ahead, we are excited to continue pushing the boundaries of what is possible with Bitcoin and its Layer 2 ecosystem.”
Users can read the full report on Merlin Chain here: https://drive.google.com/file/d/1PtDSlqIHxAC1eiQXI2vB7DRTSXI-NQR_/view?usp=share_link
Introducing Merlin Chain
Merlin Chain is a Bitcoin Layer 2 that integrates a ZK-Rollup network, a decentralized oracle network, and an on-chain BTC fraud prevention module. Merlin Chain is dedicated to making Bitcoin fun again by strengthening Bitcoin’s underlying assets, protocols, and products on Layer 1 through a Layer 2 network. Merlin Chain is a subsidiary of Bitmap Tech, a top OG team with a total market cap of over $500 million. Bitmap Tech’s BRC-420 “Blue Box” collection has become one of the most popular assets on Ordinals.
For more information, users can visit the Merlin Chain website. twitter | Discord
Contact
Head of BD & Partnerships
Jonathan
Merlin Chain
(email protected)
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