Singapore, Singapore, September 9, 2024, Chainwire
Merlin Chain, a revolutionary layer-2 platform, has achieved unprecedented milestones in just six months, cementing its position as the largest layer-2 platform in the Bitcoin ecosystem. With a total value locked (TVL) exceeding $1.2 billion and bridge transactions exceeding $16 billion, Merlin Chain has redefined the way users interact with Bitcoin, empowering native assets, fostering liquidity, and driving innovative developments in the ecosystem.
Since its launch in early 2024, Merlin Chain has become the largest native Bitcoin network, with 1.9 million on-chain addresses and over 12.7 million processed transactions. The platform has also become the leading hub for native Bitcoin assets, hosting over 80% of all native Bitcoin asset holders.
Merlin Chain's notable achievements in the first half of 2024 include:
- Network adoption and growth:With rapid TVL growth of $3.9 billion within 50 days of mainnet launch and 1.9 million unique addresses, Merlin Chain continues to lead the Bitcoin layer 2 space.
- Strengthening liquidityMerlin Chain has facilitated over $16 billion in bridged BTC volume, with $1 billion in spot trading and $1 billion in perpetual trading, securing its position as a key player in Bitcoin liquidity.
- Thriving ecosystem:Merlin Chain now supports over 200 decentralized applications (dApps) across DeFi, BTCFi, gaming, NFTs, and more. Leading platforms such as UniCross, Solv Protocol, Avalon Labs, and MerlinSwap have contributed to the robust growth of this ecosystem, providing the community with innovative services and liquidity solutions.
- Fair distribution of tokens:Token distributed fairly among the community. $MERL inflation slowed significantly to just 0.4% over the next 12 months.
Merl grants $210 million to accelerate ecosystem expansion
To further consolidate its leadership, Merlin Chain launched its Merl's $210 million ecosystem grant program In June, the focus will be on improving user experience, Bitcoin native asset innovation, ecosystem engagement, and developer tools. The grant aims to expand the platform’s ecosystem by empowering developers and innovators to contribute to the future of Bitcoin Layer 2.
Technical advances and security
Merlin Chain's commitment to innovation is supported by its advanced technical architecture. The platform has implemented ZK-Rollup Technology and Multi-Token Staking Oracle (NYSE:) Nodes to improve security, scalability and transparency. By integrating solutions such as Babylon and BTC Staking and Re-StakingMerlin Chain is pioneering new ways to optimize the returns of Bitcoin’s native assets.
Merlin Chain has also partnered with leading security companies such as Celestia for data integrity and Cobo for advanced MPC wallets, ensuring that users have access to cutting-edge technology to protect their assets. In addition, Merlin Chain established the Merlin Security Councilwhich includes renowned partners such as Slow fog and Security lockfurther strengthening its security infrastructure.
Looking ahead to 2024
As Merlin Chain continues to lead Bitcoin Layer 2 innovation, it is preparing for even greater expansion in the second half of 2024. With plans to integrate the latest Bitcoin protocol upgrades and drive further growth in its ecosystem, Merlin Chain aims to become the dominant force in Bitcoin-native assets, liquidity, and interoperability across multiple chains including EVM, and TON.
“We are incredibly proud of the progress we have made in such a short period of time,” said Jeff, Founder of Merlin Chain. “Our success would not be possible without the support of our community and our innovative partners. Looking ahead, we are excited to continue pushing the boundaries of what is possible for Bitcoin and its Layer 2 ecosystem.”
Users can read the full Merlin Chain report here:
About Merlin Chain
Merlin Chain is a Bitcoin Layer 2 that integrates the ZK-Rollup network, decentralized oracle network, and on-chain BTC fraud-proof modules. Merlin Chain is committed to empowering Bitcoin-native assets, protocols, and products on Layer 1 through its Layer 2 network to make Bitcoin fun again. Merlin Chain is a subsidiary product line of Bitmap Tech, a top-tier OG team that boasts an overall market cap exceeding $500M. Bitmap Tech’s BRC-420 “Blue Box” collection has become one of the most popular assets on Ordinals.
For more information, users can visit Merlin Chain's website | Twitter | Discord
ContactHead of BD and PartnershipsJonathanMerlin chain[email protected]
This article was originally published on Chainwire
