Merlin Chain Joins WBTC DAO
In a significant development in the cryptocurrency space, Merlin Chain has become a governance member of the Wrapped Bitcoin (WBTC) DAO, as confirmed by official announcements. The collaboration aims to enhance the functionality and global footprint of the WBTC protocol.
Leadership and Vision
Jeff Yin, the founder of Merlin Chain, is set to represent the project, working alongside ten key participants, including BitGo, to spearhead technological advancements and expansion efforts for WBTC.
Yin expressed his enthusiasm for the Bitcoin finance narrative, stating, “BTCFi is a long-term vision. Our journey began with introducing leading Bitcoin staking last year, and now, as a part of WBTC DAO, we are embarking on a new chapter. We look forward to collaboratively enhancing Bitcoin’s multi-chain liquidity, improving the trading experience, ensuring global compliance for BTCFi, and exploring opportunities for earning interest on Bitcoin.”
Implications for the Crypto Ecosystem
Merlin Chain’s entry into the WBTC governance not only strengthens its role within the Bitcoin finance infrastructure but also facilitates deeper integration between WBTC and its own token, M-BTC. This partnership opens up new opportunities for developing DeFi products centered around Bitcoin.
Currently, M-BTC has been successfully implemented across more than 15 blockchain networks, boasting a total valuation exceeding $1 billion. Additionally, Merlin Chain has recently engaged in trading activities with PancakeSwap, resulting in the deployment of close to 6 million MERL ecological tokens on the BNB Chain.
