Merlin Chain becomes largest Bitcoin Layer 2 in Singapore, September 2024
- Merlin Chain achieved a Total Value Locked (TVL) of over $1.2 billion and processed more than 12.7 million transactions within six months of its launch.
- The platform utilizes advanced technologies like ZK-Rollup and has established a Security Council to enhance its security and scalability.
- With a $210 million Ecosystem Grant Program, Merlin Chain aims to foster innovation and community engagement, solidifying its position in the Bitcoin Layer 2 landscape.
In September 2024, Merlin Chain has emerged as a significant player in the Bitcoin ecosystem, achieving a Total Value Locked (TVL) of over $1.2 billion within just six months of its launch. This rapid growth is attributed to its innovative approach to Bitcoin Layer 2 solutions, which has attracted 1.9 million unique on-chain addresses and facilitated more than 12.7 million transactions. The platform has also seen substantial liquidity, with over $16 billion in BTC bridged volume, indicating strong user engagement and trust. The success of Merlin Chain can be linked to its advanced technical architecture, which incorporates ZK-Rollup technology and multi-token staking Oracle nodes. These innovations enhance security, scalability, and transparency, making it an attractive option for users looking to interact with Bitcoin. Additionally, the establishment of the Merlin Security Council, featuring partners like Slowmist and BlockSec, has further strengthened its security measures. To foster community growth and innovation, Merlin Chain launched a $210 million Ecosystem Grant Program aimed at enhancing user experience and supporting developers. This initiative is expected to accelerate the expansion of the platform's ecosystem, encouraging builders to create new Bitcoin-native assets and protocols. Looking ahead, Merlin Chain is poised for further growth as it plans to integrate Bitcoin's latest protocol updates and expand its interoperability across multiple chains. This strategic direction positions Merlin Chain as a leading force in the Bitcoin Layer 2 space, with the potential to redefine how users engage with Bitcoin and its native assets.