Merlin Chain Emerges as Bitcoin’s Largest Layer 2, Surpassing $1.2 Billion TVL in Just Six Months

Singapore,
Singapore,
September
9th,
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,
  Solv
  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.
  $MERL’s
  inflation
  slowed
  significantly,
  to
  only
  0.4%
  in
  the
  next
  12
  months. 

210M
$MERL
Ecosystem
Grant
to
Accelerate
Expansion

To
further
solidify
its
leadership,
Merlin
Chain
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
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-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
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,
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
exceeding
$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
Jonathan
Merlin
Chain
[email protected]