Welcome to the OnePiece Labs Web3 Interview Series podcast, designed to bring you the latest insights from industry leaders, innovators, and Web3 pioneers. As a leading Web3 incubator, OnePiece Labs is dedicated to advancing the development and application of decentralized technologies. Our bi-weekly podcast features in-depth interviews with top talent in the Web3 space, providing you with valuable advice and insights to better understand the rapidly evolving blockchain ecosystem.
In this premiere episode, we are honored to invite Jeff Yin, founder and CEO of Merlin Chain, who will share his insights on the future of Bitcoin, the rise of BTCFi, and how Merlin Chain's Ethereum Virtual Machine (EVM) compatible Layer 2 solution is reshaping the Bitcoin landscape. This interview is hosted by Dafu Gao, a partner at OnePiece Labs, who delves into the challenges and innovations within the Bitcoin ecosystem, as well as Jeff's visionary views on the future of Bitcoin and Web3.
👉 Click here to watch the full interview: (Breaking Bitcoin Boundaries: Jeff Yin Discusses Merlin Chain's Vision)
Merlin Chain: Reshaping the Bitcoin Ecosystem
Merlin Chain, launching in February 2024, is an EVM-compatible Layer 2 solution designed to bring the powerful functionalities of smart contracts and decentralized finance (DeFi) into the Bitcoin space. By leveraging the EVM framework, Merlin Chain enables Bitcoin users to access a range of innovative financial products, transforming Bitcoin from a simple transactional currency into a vibrant platform for decentralized applications (dApps).
Jeff Yin is a seasoned entrepreneur with years of experience in both Web2 and Web3. He founded Merlin Chain to address the limitations of Bitcoin's current infrastructure. His vision for Merlin Chain is to create a decentralized financial ecosystem that connects Bitcoin to the broader DeFi space, thereby unlocking Bitcoin's full potential.
"Merlin's goal is to empower Bitcoin assets using EVM technology, making smart contracts and decentralized finance possible."
——Jeff Yin
BTCFi: The Core Element of Bitcoin's Future Development
In recent months, BTCFi has gained momentum, combining Bitcoin's unparalleled brand recognition with the emerging DeFi space. The term BTCFi refers to the concept of integrating Bitcoin into decentralized financial systems, unlocking new opportunities for Bitcoin holders. By leveraging innovative technologies and protocols such as Scroll, Linea, and Babylon, BTCFi has the potential to elevate Bitcoin from a digital store of value to a comprehensive decentralized financial ecosystem.
"Nearly everyone knows about Bitcoin — from my grandparents to tech-savvy young people. This market trust and recognition give Bitcoin a significant advantage in the decentralized finance space."
——Jeff Yin
BTCFi opens a new narrative chapter for Bitcoin, providing users with a new way to interact with Bitcoin beyond its traditional role as a store of value. Merlin Chain is at the forefront of this development trend, integrating Bitcoin assets (such as ordinals and runic tokens) into Layer 2 solutions to facilitate the execution of smart contracts and access to decentralized applications.
Strategic Focus on Shaping the Bitcoin Ecosystem
To ensure Bitcoin continues to evolve and thrive within the Web3 ecosystem, Jeff has identified three main strategic focus areas for Merlin Chain:
Advancing BTCFi: As the flagship project of BTCFi, Merlin Chain focuses on expanding the Bitcoin ecosystem to integrate it with other DeFi protocols and platforms. By building bridges between Bitcoin and other blockchain ecosystems, Merlin Chain opens new avenues for Bitcoin to participate in the evolving decentralized finance landscape.
Developing Bitcoin Native Assets: Merlin Chain is focused on creating Bitcoin-native tokens like BRC-20, aiming to make Bitcoin more interactive for everyday users. These assets create a more engaging experience for users to interact with the Bitcoin ecosystem in new ways.
Promoting Mainstream Adoption: Like any emerging technology, user adoption is critical to its development. Jeff believes that Merlin Chain's efforts to make Bitcoin more accessible and introduce innovative decentralized applications to the network will help broaden Bitcoin's appeal, particularly to everyday users.
"Developing Bitcoin native assets is key to attracting retail users and enhancing the interactive experience."
——Jeff Yin
Key Technologies of Merlin Chain: BitVM and OP_CAT
Two groundbreaking technologies — BitVM and OP_CAT, are considered game changers for the Bitcoin ecosystem. BitVM is a trustless environment similar to Ethereum Layer 2, while OP_CAT adds smart contract capabilities to Bitcoin. Merlin Chain is committed to the development of these technologies to help shape the future of Bitcoin.
These advancements enable smaller teams to build decentralized applications on Bitcoin in a secure and scalable manner. By introducing these technologies, Merlin Chain lowers the barriers for developers and creates an environment where more decentralized applications can thrive.
"Technologies like BitVM and OP_CAT not only simplify the development process but also ensure security, which is especially important for small teams."
——Jeff Yin
Advice for Web3 Developers: Innovate, Don't Imitate
As a visionary in the Web3 space, Jeff provides valuable advice for Web3 developers: "Create solutions that align with Bitcoin's unique attributes rather than copying concepts from other chains. By conceptualizing ideas that can leverage Bitcoin's advantages, developers can contribute to a broader narrative of Bitcoin's development and make a lasting impact in this field."
"Developers should focus on the unique characteristics of Bitcoin rather than simply imitating concepts from other chains. Only by leveraging Bitcoin's advantages can we truly inject new vitality into the Bitcoin ecosystem."
——Jeff Yin
BTC Runes Incubator: Supporting Early Bitcoin Ecosystem Projects
OnePiece Labs collaborates with Merlin Chain, Franklin Templeton, and OKX Ventures to launch the Bitcoin Rune Incubator (BTC Runes Incubator) to support the next wave of early-stage Bitcoin projects. This initiative provides selected teams with mentoring, funding, and resources to help emerging rune projects overcome typical challenges such as limited infrastructure and market access difficulties.
The Bitcoin Rune Incubator provides selected teams with personalized mentoring, networking opportunities, and funding support to accelerate their growth and innovation within the Bitcoin ecosystem.
🎥 Check out the OnePiece Labs Bitcoin Rune Incubator online demo day: https://lu.ma/oplrunes
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This episode marks the beginning of the OnePiece Labs Web3 Interview Series, dedicated to giving you a deeper understanding of the people and technologies shaping the future of Bitcoin and Web3. Subscribe to our YouTube channel for regular updates and never miss an interview with leading Web3 innovators.
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This episode not only delves into the evolving role of Bitcoin but also provides essential guidance for Web3 founders, developers, and enthusiasts passionate about the future of decentralized technologies. Stay tuned for more actionable insights, tips, and real-world experiences from industry leaders.
