Merlin Chain brings staking opportunities and DeFi access to Bitcoin

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As a researcher with a background in blockchain technology and decentralized finance (DeFi), I’m excited about Merlin Chain’s potential to bring new opportunities to Bitcoin holders. Having witnessed the explosive growth of DeFi on Ethereum, it’s intriguing to see how Merlin Chain aims to replicate and expand upon these successes within the Bitcoin ecosystem.

As a researcher exploring the latest developments in the cryptocurrency sphere, I’m excited to share that Merlin Chain is set to deliver decentralized finance (DeFi) benefits directly to Bitcoin holders. Leveraging a collection of groundbreaking integrations and operating under a proof-of-stake (PoS) mechanism, Merlin Chain represents an innovative solution for tapping into the world of DeFi using your existing Bitcoin holdings.

As a researcher studying the blockchain ecosystem, I’m excited to share that Merlin Chain, the Layer-2 solution for Bitcoin, has facilitated over $13 billion in BTC transfers within the past 45 days. This platform is now aiming for even more growth by introducing new advantages for Bitcoin holders. Specifically, Merlin Chain aspires to revolutionize staking rewards and yield generation for Bitcoin users.

Its purpose is to facilitate easier access to Decentralized Finance (DeFi) for Bitcoin (BTC) owners, providing them with additional profitable possibilities beyond just holding.

Merlin Chain aims to revolutionize Bitcoin’s DeFi landscape

Although Bitcoin has been among the top-performing investments during the last ten years, its holders have unfortunately overlooked various potential income opportunities, according to Jeff, the founder of Merlin Chain.

As a dedicated crypto investor, I’m thrilled to share that we’re now offering tangible rewards for holding Bitcoin (BTC). It’s not just about HODLing anymore – you can also actively engage with the dynamic and innovative Decentralized Finance (DeFi) ecosystem!

As a researcher exploring the current landscape of blockchain technology, I’ve noticed that Ethereum stands out with its abundance of opportunities for generating yields. Some of these promising avenues include staking, liquidity mining, and yield farming. Merlin Chain is set to unlock similar use cases, as Jeff mentioned, bringing us closer to replicating Ethereum’s thriving DeFi ecosystem.

As a crypto investor, I’d highlight that what sets Bitcoin apart is its strong security and scarcity, which fuel the Decentralized Finance (DeFi) ecosystem built around it. This setup also appeals to a passionate community of users in the cryptocurrency space.

Stake BTC to earn rewards

Users can earn yield on their BTC by bridging via Merlin Bridge.

When an individual secures their cryptocurrency coins on the base layer, they are rewarded with gas tokens represented by BTC. These tokens can then be used to stake and obtain a wrapped Bitcoin asset, named mBTC. Similar to stETH, mBTC holders receive staking rewards.

As a financial analyst, I’d be happy to explain some additional benefits that come with using M-BTC (Moonbeam-Bitcoin). In the world of decentralized finance (DeFi), you have the opportunity to provide liquidity for yields through various platforms. This means you can lend or borrow assets, and even trade derivatives based on the value of M-BTC.

Over $700 million in rewards distributed

The significant expansion of Merlin Chain’s position as a leading Bitcoin Layer 2 platform for yield is evident, with over $13 billion in assets transferred between it.

As a data analyst, I’ve observed that our network has dispersed over $700 million worth of Bitcoin (BTC) to secondary layers, providing additional incentives in return.

Merlin Chain, boasting a staggering $1.2 billion in total value locked (TVL), has formed alliances with prominent digital asset custodians and institutions to amplify its operations. Some of these esteemed partners include Fireblocks, Cobo, Ceffu, and Antalpha, which is Bitmain’s subsidiary.

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2024-06-12 20:18