🧙‍♂️Share with you the latest news and market views of @MerlinLayer2 from the space that @BitmapTech jeff attended yesterday.

1. Views on the current market

I personally have always held the belief that control what you can control, because no one can predict the market. If you can predict the market, you may not need to do anything, and you don't need to build anything, because you can make money by going long and short the market. Just like what we have been doing since last year, last year the price of Bitcoin was between $20,000 and $25,000, and Ordinals was ignored and never appeared in the eyes of developers and the public. People really didn't know what was going on there. But we are still developing there and believe that Ordinals can bring huge changes to the entire market. So I think we should be prepared.

At the moment, we have all these DApps, including DEX, spot trading, perpetual contract trading, oracles, NFT markets, cross-chain bridges, and the metaverse. We have to prepare all this infrastructure for the mainnet, and we also have to do some innovation, but we can't control whether the market is bullish or bearish. We can't control liquidity and trading volume. When the bull market comes, the trading volume may increase by 20 times, or even 100 times. In March and April, people traded millions of dollars a day on the Merlin chain, and now it may only be 1 million to 1.5 million dollars a day. So this part we can't control, but what we can control is to prepare all these things for users, when they want to do things here, when they want to start a new project, they can go to Merlin Starter; if they want to create a new meme coin, they can use Merlin Swap; if they want to do something interesting with bitmap, they can use our metaverse to do it. So we have all of this ready and waiting for the market to rebound to realize the value behind all these protocols. If the market goes down, it doesn't matter, we can't complain or ignore what is happening, we just need to find new ways to serve our users.

2. How to maintain community engagement

I think the problem right now is that we have too many assets issued on Bitcoin Layer 1, but the problem is that we don't have an ecosystem that can bring more liquidity to it. That's why I know most of our DApps are running on the Merlin chain, and we try to get transaction volume from other places. So we are trying to work with other chains, such as Solana, BNB chain, and Arbitrum. We are also working hard to let all these new users know about Ordinals and inscriptions, because when you tell new users about Bitcoin assets, it is difficult for them to understand or use these tools on Bitcoin. We need to educate them to use Bitcoin wallets, understand how to inscribe or mint Bitcoin assets, let them know how to trade, sell, and list these assets.

Also, because of the lack of liquidity in Bitcoin Layer 1, from what I've seen, probably 99% or even more of the assets don't have any trading volume. If you look at Unisat, OKEx, and Magic Eden right now, none of them have any liquidity. So you have these assets, but it's hard for you to sell them. I think it's still early today, and there's a lot of things to come. Just like the Ordinals bull run we experienced last year, it didn't appear out of thin air. We have all these tools, we have all these great developers building these assets, educating the market about what Bitcoin assets are. Then people realize how special and unique these assets are, and that's why we experienced that bull run. I think all of these things take time, you just have to wait long enough for more developers to come on board, get more market attention, and then you might experience a bull run for one or two months. This is just like what happened in the cryptocurrency market over the past decade.

3. MerlinChain Future Plan

Basically, anything we want to do, any innovation we want to make, there will be infrastructure to support us, such as oracles and DEXs.

I think first of all, we're trying to find a way to solve the liquidity problem because right now if you issue an asset on Bitcoin Layer 1, the cost is high and the liquidity is poor. So in most cases, you own something, but you can't sell it. We want to turn those costs, like gas fees, into actual liquidity, like Solana does, so that people can just pay some very low cost, like entry barrier, to join the game, own assets, and if they want to sell those assets, there will be liquidity for them to sell. It's like I was just saying in the group chat, there's a MEME, it's an interview between Donald Trump and Elon Musk, and they have a BRC20 about this, it's like "Y-E-A-H, yeah." If it was last year, this code would be minted in a few hours, but today no one is minting it. I think the reason is like I said before, you paid money to get this inscription, but you can't sell it. But if we can turn these costs into actual liquidity, people will find out, oh, this will be easier, even if I don't want it, I can sell it at a certain cost, maybe 70% or 60%. This is beneficial to everyone. We will be launching this platform in the next few weeks and we hope that it will go some way to address these issues.

In addition, we will continue to build the Bmap game metaverse. We want to create an immersive environment for all these activities so that people don't have to just visit the website to do this and that, buy this and that. You can go to an immersive metaverse, talk to your friends, discuss what to buy, what to sell, see what are the hot assets now, and do all kinds of things in this environment.

And, you know, there are three or four different layer 2s coming to Merlin, trying to integrate with Babylon. I think Babylon is the only hot topic in the Bitcoin ecosystem right now. So we just want to integrate more protocols to integrate with Babylon, and hopefully that drives another round of people's hope, and hopefully that drives people's attention, to be honest, and makes them pay attention to these ecosystems and want to make money here. I think we're doing a lot of that right now, and we actually have a Merlin Monday podcast every week to update all of this. So I mean, whether the market is going up or down, we're going to keep building.

The above is a personal note, for sharing only, and does not constitute investment advice. If there are any errors, please correct them. #BTC #Merlin #梅林