Singapore, Singapore, September 9, 2024, Chainwire
Merlin Chain, a revolutionary Layer 2 platform, has achieved unprecedented milestones in simply six months, cementing its place as the biggest Layer 2 within the Bitcoin ecosystem. With a Whole Worth Locked (TVL) exceeding $1.2 billion and bridging transactions exceeding $16 billion, Merlin Chain has redefined the way in which customers work together with Bitcoin, empowering native belongings, selling liquidity, and supporting progressive ecosystem improvement.
Since its launch in early 2024, Merlin Chain has grown into the biggest Bitcoin native community with 1.9 million on-chain addresses and over 12.7 million processed transactions. The platform has additionally turn into the main hub for Bitcoin native belongings, internet hosting greater than 80% of all Bitcoin native asset holders.
Merlin Chain's notable achievements within the first half of 2024 embody:
- Community adoption and progress: With speedy TVL progress of $3.9 billion inside 50 days of mainnet launch and 1.9 million distinctive addresses, Merlin Chain continues to steer Bitcoin's Tier 2.
- Energy in liquidity: Merlin Chain has brokered greater than USD 16 billion in BTC bridged quantity, with USD 1 billion in spot buying and selling and USD 1 billion in persistent buying and selling, securing its place as a key participant in Bitcoin liquidity.
- A thriving ecosystem: Merlin Chain now helps over 200 decentralized purposes (dApps) throughout DeFi, BTCFi, gaming, NFT and extra. Main platforms resembling UniCross, Solv Protocol, Avalon Labs and MerlinSwap have contributed to this sturdy ecosystem progress, offering progressive providers and liquidity options to the group.
- Honest token distribution: Token pretty distributed to the group. $MERL inflation has slowed considerably to simply 0.4% over the subsequent 12 months.
$210 million grant to MERL ecosystem to speed up growth
To additional cement his lead, Merlin Chain began his MERL's $210M Ecosystem Grant Program in June with a give attention to enhancing the consumer expertise, innovating Bitcoin native belongings, partaking with the ecosystem and developer instruments. The grant is aimed toward increasing the platform's ecosystem by enabling builders and innovators to contribute to the way forward for Bitcoin's Layer 2.
Technical progress and security
Merlin Chain's dedication to innovation is supported by its superior technical structure. The platform has been applied ZK-Rollup know-how and Oracle (NYSE: ) multi-token staking nodes. enhance safety, scalability and transparency. By integrating options like Babylon and BTC bets/re-betsMerlin Chain is pioneering new methods to optimize returns on Bitcoin native belongings.
Merlin Chain has additionally partnered with main safety companies resembling Celestia for information integrity and What for superior MPC wallets to make sure customers have entry to the newest know-how to guard their belongings. As well as, Merlin Chain based Merlin Security Boardwhich incorporates famend companions like Slowmist and BlockSecadditional strengthens its safety infrastructure.
Outlook to 2024
As Merlin Chain continues to steer in Bitcoin Layer 2 innovation, it’s gearing up for even larger growth within the second half of 2024. With plans to combine the newest Bitcoin protocol updates and additional progress in its ecosystem, Merlin Chain goals to turn into a dominant pressure in Bitcoin native belongings, liquidity and interoperability throughout a number of chains, together with EVM, and TON.
“We're extremely pleased with the progress we've made in such a short while,” mentioned Jeff, founding father of Merlin Chain. “Our success wouldn’t be potential with out the assist of our group and our progressive companions. Wanting forward, we're excited to proceed pushing the boundaries of what's potential for Bitcoin and its Layer 2 ecosystem.”
Customers can learn the total Merlin Chain report right here: https://drive.google.com/file/d/1PtDSlqIHxAC1eiQXI2vB7DRTSXI-NQR_/view?usp=share_link
About Merlin Chain
Merlin Chain is a Bitcoin Layer 2 that integrates the ZK-Rollup Community, the Oracle Decentralized Community and on-chain fraud-resistant BTC modules. Merlin Chain is dedicated to empowering Bitcoin's native Layer 1 belongings, protocols and merchandise via the Layer 2 community to make Bitcoin enjoyable once more. Merlin Chain is a subsidiary product line of Bitmap Tech, a number one OG group that boasts a complete market capitalization of over $500 million. The BRC-420 “Blue Field” assortment beneath Bitmap Tech has turn into one of many hottest belongings on Ordinals.
For extra data, customers can go to the Merlin Chain web site | Twitter | Competition
ContactHead of BD and PartnershipsJonathanMerlin's chaincontact@merlinchain.com
This text was initially revealed on Chainwire
