The Good Tech Companies - Merlin Chain Emerges As Bitcoin's Largest Layer 2, Surpassing $1.2 Billion TVL In Just Six Months

Episode Date: September 9, 2024

This story was originally published on HackerNoon at: https://hackernoon.com/merlin-chain-emerges-as-bitcoins-largest-layer-2-surpassing-$12-billion-tvl-in-just-six-months. With a Total Value Locked (TVL) surpassing $1.2 billion and bridge transactions exceeding $16 billion, Merlin Chain has redefined how users interact with Bitco Check more stories related to web3 at: https://hackernoon.com/c/web3. You can also check exclusive content about #web3, #merlin-chain, #chainwire, #press-release, #merlin-chain-announcement, #layer1-blockchain, #bitcoin-blockchain, #good-company, and more. This story was written by: @chainwire. Learn more about this writer by checking @chainwire's about page, and for more stories, please visit hackernoon.com. Merlin Chain, a Bitcoin Layer 2 platform, has achieved unprecedented milestones in just six months. The platform has become the leading hub for Bitcoin-native assets, hosting over 80% of all Bitcoin- native asset holders. Merlin Chain has facilitated over $16 billion in BTC bridged volume, with $1 billion in spot trading.

This audio is presented by Hacker Noon, where anyone can learn anything about any technology. Merlin Chain emerges as Bitcoin's largest Layer 2, surpassing $1.2 billion TVL in just six months, by Chainwire. 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 a total value locked, TVL, surpassing $1.2 billion and bridge transactions exceeding $16 billion, Merlin Chain has redefined how users interact with Bitcoin, empowering native assets, fostering liquidity,

and driving innovative ecosystem developments. Since its launch in early 2024, Merlin Chain has grown into 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 remarkable achievements in the first half of 2024 include adoption and network growth, with rapid TVL growth of $3. $9 billion within 50 days of the mainnet launch and 1.9 million unique addresses, Merlin Chain continues to lead the Bitcoin Layer 2 space. Strength in Liquidity Merlin Chain has facilitated over $16 billion

in BTC-bridged 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 more than 200 decentralized applications, DAPPs, across DeFi, BTCFI, gaming, NFTs, and more. Leading platforms such as Unicross, Solve Protocol, Avalon Labs, and MerlinSwap have contributed to this robust ecosystem growth, providing the community with innovative services and liquidity solutions. Fair token distribution. Token fairly distributed to the community. Dollar Merle's inflation slowed significantly, to only 0.4% in the next 12 months. $210 million Merle ecosystem grant to accelerate expansion to further solidify its leadership.

MerlinChain launched its $210 million MERL Ecosystem Grant program in June, focusing on enhancing user experience, Bitcoin native asset innovation, ecosystem engagement, and developer tools. The grant is aimed at expanding 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 implemented ZK roll-up technology and multi-token staking oracle nodes to enhance security, scalability, and transparency. By integrating solutions like Babylon and BTC

staking, restaking, Merlin Chain ice-bineering new ways to optimize Bitcoin native asset yields. Merlin Chain has also partnered with leading security firms such as Celestia 4.0 Integrity and Kobo 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 Slow Mist and BlockSec, further fortifying its security infrastructure. Looking ahead to 2024 as 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, MerlinChain aims to become the dominant force in Bitcoin native assets, liquidity, and interoperability across multiple chains, including EVM, Solana, and Tun. Greater than, we are incredibly proud of the strides we've made in such a short time, said Greater Than Jeff, founder of MerlinChain. Our success wouldn't be possible without the greater than support of our community and our innovative partners. As we look ahead, we're greater than excited to continue pushing the boundaries of what's possible for Bitcoin

and greater than its Layer 2 ecosystem. Users can read MerlinChain's full report here, https colon slash slash drive google com file d 1 ptdslqihxac1eiqxi2vb7drtsxinqr underscore view usp equals share underscore 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 layer 1 through its layer 2 network to make Bitcoin fun again. Merlin Chain is a subsidiary product line of Bitmap Tech, a premier AUG team boasting an overall market cap exceeding $500 million. The BRC420 Blue Box collection under Bit Map 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 Jonathan Merlin Chain Contact at merlinchain.com. Tip This story was distributed as a release by Chainwire under HackerNoon's business blogging program. Learn more about the program here. Thank you for listening to this HackerNoon story, read by Artificial Intelligence. Visit HackerNoon.com to read, write, learn and publish.