Merlin Chain becomes Bitcoin's biggest Layer 2 platform, surpassing $1.2 billion TVL

From Investing.com

September 9, 2024 4:30 am:

Merlin Chain, a Layer 2 platform, has become the biggest in the Bitcoin ecosystem in just six months. It boasts a Total Value Locked of over $1.2 billion and has facilitated bridge transactions exceeding $16 billion. The platform has 1.9 million on-chain addresses and hosts over 80% of all Bitcoin-native asset holders.

Merlin Chain achieved rapid TVL growth, processing over 12.7 million transactions and attracting 1.9 million unique addresses since its launch. The platform has supported $16 billion in BTC bridged volume and hosts over 200 decentralized applications across various sectors, including DeFi, gaming, and NFTs.

Merlin Chain launched a 210M $MERL Ecosystem Grant Program to enhance user experience, foster innovation, and engage developers. It focuses on Bitcoin-native asset development and ecosystem expansion to continue driving growth in the Bitcoin Layer 2 space.

Merlin Chain’s technical advancements include ZK-Rollup technology, multi-token staking Oracle nodes, and partnerships with leading security firms for data integrity. The platform aims to optimize Bitcoin-native asset yields and ensure user security through cutting-edge technology and the establishment of the Merlin Security Council.

Merlin Chain looks ahead to further expansion in 2024, aiming to integrate Bitcoin protocol updates and expand interoperability with multiple chains. The platform aspires to lead in Bitcoin-native assets, liquidity, and ecosystem growth, shaping the future of Bitcoin’s Layer 2 space with continued innovation and community support.

Read more at Investing.com: Merlin Chain Emerges as Bitcoin’s Largest Layer 2, Surpassing $1.2 Billion TVL in Just Six Months By Chainwire