Blockchain

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

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    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
    contact@merlinchain.com

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    OKX Wallet Reimagined: Simplified Access to Millions of Tokens, Collectibles and 100+ Blockchains

    2024-09-18T07:10:00Z
    • Expanded token discovery, with 120,000 tokens added weekly
    • New wallet interface includes new onchain trading features, to swap any token on any chain
    • Redesign and enhancements unveiled at TOKEN2049 Singapore fireside chat with OKX Chief Marketing Officer Haider Rafique and Formula 1 driver Lando Norris

    SINGAPORE, Sept. 18, 2024 (GLOBE NEWSWIRE) -- OKX, a global Web3 technology company, today unveiled its reimagined Wallet product, with key enhancements including a new interface, expanded token discovery for millions of cryptocurrencies and collectibles, and access to more than 100 blockchains and thousands of DeFi products.

    The upgrade was announced during a fireside chat featuring OKX Chief Marketing Officer Haider Rafique and Formula 1 driver Lando Norris at TOKEN2049 in Singapore that centered on the intersection of technology, motorsports and the onchain world, highlighting the importance of innovation and adoption of new technologies.

    Key details of the reimagined OKX Wallet are:

    • Redesigned interface: A sleek new layout that simplifies asset management, token swapping and discovery, providing users with a secure and efficient gateway to the diverse onchain ecosystem
    • Enhanced token discovery: The new tokens page allows wallet holders to explore over one million tokens across various categories, including trending memecoins across networks like Solana, Base, Tron and BNB, with customizable sorting options; approximately 120,000 tokens are added weekly to OKX Wallet's DEX
    • Updated Marketplace: Simplified user experience, to discover and buy any of over three million digital collectibles, including Bitcoin Ordinals
    • Super-fast DEX: The Wallet DEX now provides industry-leading quote response times and transaction speeds, retrieving and aggregating prices from almost 500 decentralized exchanges at an average response time of approximately 50 milliseconds
    • Optimized navigation: Intuitive categorization enhances the overall experience, with the third-party DeFi protocol aggregator now accessible under the 'Discover' section

    The revamped OKX Wallet serves as a unified, self-custodial portal to onchain experiences across more than 100 networks, including major chains like Bitcoin, Ethereum, Solana and TON. Transparency and security remain paramount in this user experience update, with risk assessments prominently featured for over one million tokens and thousands of DeFi products. OKX Wallet's commitment to security was recently acknowledged by CertiK, the world's leading Web3 security firm, which named it the top onchain wallet in the world for cybersecurity.

    Since the beginning of 2024, OKX Wallet has added support for 20 blockchains. Additionally, 91 million worldwide have downloaded the OKX app, highlighting the need for a streamlined, mobile-optimized design.

    For further information, please contact:
    Media@okx.com

    About OKX

    OKX is a technology company with a mission to organize the world's blockchains and make them more accessible and useful.

    We want to create a future that makes our world more efficient, transparent and connected.

    OKX began as a crypto exchange giving millions of people access to trading and over time became among the largest platforms in the world. In recent years, we have developed one of the most connected onchain wallets used by millions to access decentralized applications (dApps).

    OKX is a brand trusted by hundreds of large institutions seeking access to crypto markets on a reliable platform that seamlessly connects with global banking and payments.

    Our most well-known products include: The OKX Exchange, OKX Wallet, OKX Marketplace, OKX Explorer, OKX Chain and OS for developers, OKX Ventures and OKX Institutional Services. To learn more about OKX, download our app or visit: okx.com

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