Introduction of Merlin 2.0
Merlin Chain has officially introduced its latest iteration, Merlin 2.0, signaling a transformative approach to Bitcoin’s usage. This new framework advocates for a shift in perception of Bitcoin from merely a “store of value” to a “yield-bearing and deployable core asset,” with a focus on the mantra “Reinvent Bitcoin: Hold, Earn, Invest.”
Enhancements in Bitcoin’s Potential
The innovative Merlin 2.0 is set to enhance Bitcoin’s potential through three critical dimensions:
- Expansion of BTCFi
- Implementation of chain abstraction technology
- Introduction of AI-driven applications like Merlin Wizard
These initiatives aim to improve liquidity and functionality of Bitcoin within a multi-chain ecosystem, significantly easing the process for users to engage with BTC without the need for conversions into other cryptocurrencies. This will enable smooth participation in various investment avenues while facilitating easier access to holding, earning, and the liquidity of Bitcoin.
Impact on the BTCFi Landscape
Since the launch of its mainnet in February 2024, Merlin Chain has been pivotal in cultivating a thriving BTCFi landscape, leading to significant projects like Solv, Bedrock, Avalon, and Babylon. With an impressive $3.8 billion in Bitcoin already staked on its platform, the Merlin ecosystem has achieved a total value locked (TVL) in BTCFi of about $2 billion, which represents more than 20% of the overall market share.
This marks a notable milestone in the evolution of Bitcoin’s utility beyond simple storage, promising enhanced engagement and profitability for users.
