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 a Total Value Locked (TVL) surpassing $1.2 billion and bridge transactions exceeding $16 billion, Merlin Chain has redefined how users interact with Bitcoin

Singapore, Singapore, 9th September, 2024, Chainwire

Bitcoin Layer 2 platform Merlin Chain has hit new milestones in the first six months of the year, emerging as the largest Layer 2 in the Bitcoin ecosystem with a Total Value Locked (TVL) of over $1.2 billion and bridge transactions surpassing $16 billion. Merlin Chain has played a pivotal role in enabling users to interact with Bitcoin, empowering native assets, fostering liquidity, and driving innovative ecosystem developments.

Having grown into the largest Bitcoin-native network since its launch in early 2024, Merlin Chain now boasts 1.9 million on-chain addresses and has processed over 12.7 million transactions. The platform has also become the leading hub for Bitcoin-native assets, hosting more than 80% of all Bitcoin-native asset holders.

Among Merlin Chain’s remarkable achievements in the first half of 2024:

210M $MERL Ecosystem Grant to Accelerate ExpansionIn a move to further solidify its leadership, Merlin Chain also launched its 210M $MERL Ecosystem Grant Program in June, focusing on enhancing user experience, Bitcoin-native asset innovation, ecosystem engagement, and developer tools. The grant is designed to expand the platform’s ecosystem by empowering builders and innovators to contribute to the future of Bitcoin Layer 2.

Technical Advancements and Security

Merlin Chain’s commitment to innovation is supported by its advanced technical architecture. The platform has integrated ZK-Rollup technology and multi-token staking Oracle nodes to enhance security, scalability, and transparency. By integrating solutions like Babylon and BTC Staking/Restaking, Merlin Chain is pioneering new ways to optimize Bitcoin-native asset yields.

Merlin Chain has also partnered with leading security firms such as Celestia for data integrity and Cobo for advanced MPC wallets, ensuring that users have access to cutting-edge technology to safeguard their assets. Additionally, Merlin Chain established the Merlin Security Council, which includes renowned partners like Slowmist and BlockSec, further fortifying its security infrastructure.

Looking Ahead to 2024As Merlin Chain continues to lead in Bitcoin Layer 2 innovation, it is preparing for even greater expansion in the second half of 2024. With plans to integrate Bitcoin’s latest protocol updates 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, Solana, and TON.

“We are incredibly proud of the strides we’ve made in such a short time,” said Jeff, Founder of Merlin Chain. “Our success wouldn’t be possible without the support of our community and our innovative partners. As we look ahead, we’re excited to continue pushing the boundaries of what’s possible for Bitcoin and its Layer 2 ecosystem.”

Users can read Merlin Chain’s full report 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 network, decentralized oracle network, and on-chain BTC fraud-proof modules. Merlin Chain is committed to empowering Bitcoin’s native assets, protocols, and products on Layer1 through its Layer 2 network to Make Bitcoin Fun Again. Merlin Chain is a subsidiary product line of Bitmap Tech, a premier OG team boasting an overall market cap of over $500 million. The BRC-420 “Blue Box” collection under Bitmap Tech has become one of the hottest assets on Ordinals.

For more information, users can visit Merlin Chain’s Website | Twitter | Discord

Contact

Head of BD and Partnership

JonathanMerlin Chaincontact@merlinchain.com