Hi! I am Uncle Psy. Merlin Chain has been in full swing recently, so Uncle Psy also keeps up with current events. Today, Uncle Psy will introduce to you why Merlin Ecology is so popular. This article is sponsored by #binance.zh !

The rise of Merlin: From deeply cultivating the Bitcoin ecosystem to gathering the power of everyone

Recently, Merlin has been in the limelight and attracted a lot of attention. However, the reason behind its brilliant achievements is not accidental, but stems from the team’s long-term silent dedication and continuous innovation in the Bitcoin ecosystem, the firm support of the community, the concept of win-win cooperation with other public chains, and stable financing and security. Base. If you are curious about the rise of Merlin, then please follow me to explore in depth and uncover the secrets behind his success.

How does Merlin Chain gather the strength of all parties and unlock the code of growth? There is a wonderful story behind this. On March 10, Jeff, the founder of Merlin Chain, posted on Twitter to clarify misunderstandings about Merlin. He pointed out that Merlin's market performance does not rely solely on marketing methods, but more from the spontaneous power of the community. This power, described as the "mysterious monster of the East", is actually driven by the community's deep trust and love for Merlin.

As a leader in the current mainstream narrative, Merlin Chain is hailed as a rising star of BTC L2 with its excellent market performance, and is even expected to compete with ETH L2, which represents Western power. Only 30 days after its mainnet went online, it reached an astonishing TVL of 3.6 billion US dollars. However, behind this unprecedented amount of funds, traffic and topic, is there really a growth code?

As a native BTC Layer 2, Merlin Chain has a TVL of USD 3.6 billion, with up to 91% coming from Bitcoin’s native assets. This includes 58% of BTC and 33% of Ordinals assets, which has surpassed Solana and Blast. This milestone achievement did not happen overnight, but is the result of the team’s long-term hard work in the Bitcoin ecosystem. From Recursiverse to Bitmap Explorer, then to BRC420, and finally Merlin Chain was born, every step embodies the wisdom and sweat of the team.

Looking back at the development history of Merlin, we can see a series of impressive milestones. On July 17, 2023, the release of the BRC-420 protocol laid a solid foundation for the development of Merlin; on July 31, the launch of Bitmap Explorer, a visual panel based on Bitmap, provided a new experience for social, gaming and trading activities; On September 19, the release of BRC-420’s first asset, the blue box, triggered an enthusiastic response from the market. With the announcement of the Bitmap coin exchange program and the surge in blue box prices, Merlin's ecosystem continues to improve and grow.

On December 26, 2023, the name change of BitmapTech marked the entry of Merlin into a new stage of development; and the support of BRC-420 by OKX Wallet further enhanced its market influence. On January 19, 2024, the official announcement of Merlin Chain as the second layer network of Bitcoin pushed it to a broader stage; and the launch of the test network bridge provided users with more convenient services. As the price of blue boxes continues to rise, Merlin's position in the NFT market is becoming increasingly solid.

February 5, 2024: Merlin Chain completes IDO on Particle Network and releases 1% governance token $MERL

February 9, 2024: OKX Venture Announces Investment in Bitmap Tech

February 10, 2024: Merlin Chain IDO activity ends, with more than 1 million participating addresses

February 23, 2024: Merlin Chain’s TVL exceeds $2 billion, surpassing Solana and Blast, ranking fifth among all chains

Founder Jeff once revealed in an interview that in fact, the team did not think of doing Layer 2 at the beginning. In the process of continuously building products and interacting with developers and users in the community, they discovered that the interactions that could be done on L1 were too limited. , many ideas cannot be realized, and the Bitmap Tech team happens to use the strongest native foundation in all Bitcoin Layer 2: BRC-420 defines the Metaverse standard and copyright standard for Bitcoin assets, which was launched before the birth of Merlin Chain 600+ inscription assets and 1,000+ Bitcoin ecosystem developers; Bitmap.Tech captures more than 90% of the traffic of Bitmap, the first-level native asset of Bitcoin, and has 33,500+ independent addresses. It is the largest Ordinals asset community.

Long-termism achieves ecological prosperity, and the birth of Merlin Chain is both an accident and an inevitability.

BRC-420: Assets first, then narratives, growing communities from the bottom up

Another growth strategy of Merlin Chain is "bottom-up issuance method, community-driven assets, and a new narrative from assets to projects", that is, fair issuance of assets, the discovery of assets by the community, and the establishment of community consensus around the assets. Then empower assets through product and ecological construction. It is undeniable that the Bitcoin community's recognition of Merlin Chain originated from several leading assets of BRC-420 - Needless to say, the growth miracle of the blue box, the subsequent music box, blue crystal, and dragon ball, in After adopting a bottom-up fair launch, the market performance has been very impressive, so we have firm confidence in the community behind it and the derived product ecology.

Unity public chain: from zero-sum game to win-win cooperation

Merlin Chain does not resist forming alliances with powerful teammates in the Ether system, and some shadows of Eastern wisdom can also be seen in it.

On March 7, the Ethereum Layer 2 project Manta launched the “Blast Off to Manta” event to encourage users to cross-chain ETH and USDC from Blast to Manta Pacific and provide $MANTA token rewards. As soon as the event was launched, a large amount of funds were transferred from Blast to Manta. The user's reason was simple: Blast's mechanism of locking liquidity for a full 14 days in the bull market was too unreasonable, while in Manta, withdrawals could be made instantly and a large number of token rewards were provided.

Today, Merlin has become a powerful force in the Bitcoin ecosystem. Behind its success is the unremitting efforts of the team, the firm support of the community and the concept of win-win cooperation. In the future, we have reason to believe that Merlin will continue to write its own glorious chapter and lead the Bitcoin ecosystem to a more prosperous future.