Merlin Chain is revolutionizing the world of Bitcoin by introducing new earning possibilities for users globally. This Layer-2 protocol is launching a staking solution that offers enhanced security and scalability.
Merlin Chain, a blockchain specifically designed for Bitcoin (BTC), is set to revolutionize the decentralized finance (DeFi) landscape by allowing Bitcoin holders to take advantage of yield opportunities. This move puts Bitcoin in direct competition with Ethereum, where DeFi has been thriving for years.
Traditionally, Bitcoin investors have missed out on the various DeFi opportunities such as staking rewards, liquidity mining, and yield farming that Ethereum users have enjoyed. However, Merlin Chain is changing the game by offering Bitcoin holders a way to participate in these lucrative activities.
Through a Proof-of-Stake (PoS) consensus mechanism and a range of DeFi integrations, Merlin Chain enables users to transfer their Bitcoin to the network seamlessly. This results in the creation of M-BTC, a wrapped Bitcoin asset that operates similarly to stETH on Ethereum.
Merlin Chain offers the best of both worlds by providing extensive DeFi opportunities while maintaining the security and familiarity of the Bitcoin network. Founder Jeff expressed excitement about offering BTC investors tangible incentives to earn and engage in the DeFi ecosystem.
Users can stake M-BTC on platforms like Solv Protocol to earn rewards in the form of SolvBTC, a token that unlocks various DeFi services. They can also use M-BTC as collateral to access lending, borrowing, and derivative services within top DeFi protocols. Additionally, bridging SolvBTC assets to other Layer 2 networks like Linea opens up more rewards and opportunities.
Security and scalability are top priorities for Merlin Chain, as evident in their collaborations with leading custodians like Fireblocks, Cobo, Ceffu, and Bitmain’s Antalpha. Partnerships with over ten major institutions contribute to a decentralized validator set, ensuring transparency and scalability.
Merlin Chain recently introduced a series of security measures alongside its chain architecture, including a decentralized oracle network and enhanced asset diversification. The launch of their native token, MERL, further enhances governance, security, and ecosystem development opportunities for users.
With over $13 billion in bridged Bitcoin and $700 million distributed to Layer 2 networks in just 45 days, Merlin Chain is rapidly gaining traction. Their partnerships with over ten institutions aim to scale participation and further decentralize the network’s validator set.