Merlin Chain secures funding to power “Bitcoin-based” innovation

adminFebruary 5, 2024

February 5, 2024, New York, USA, Chainwire

Merlin Chain, the native Bitcoin Layer2, announced a funding round from 24 investors including OKX Ventures, ABCDE, Foresight Ventures, and Arkstream Capital.

Merlin Chain provides a native scaling solution that integrates the ZK-Rollup network, decentralized oracle network, and on-chain BTC fraud prevention module. We are committed to making Bitcoin fun again by strengthening Bitcoin’s underlying assets, protocols, and products at Layer1.

Merlin Chain was built by Bitmap Tech, a top OG team with an overall market capitalization of over $500 million. Bitmap Tech’s BRC-420 “Blue Box” collection has risen from an inscription cost of $0.15 to an ATH low of $34,000, making it one of the most popular Ordinals assets, reaching the third-largest market capitalization behind BAYC and CryptoPunks.

Merlin Chain’s team, Bitmap Tech, has been a strong supporter of Bitcoin for many years and is extremely committed to developing the Bitcoin ecosystem, bringing more users and assets to Bitcoin through their work rather than servicing other ecosystems. We are trying to bring . Bitcoin’s name.

This raise will allow the team to continue to enrich the ecosystem and increase overall liquidity. To date, Merlin Chain has built a strong DApp ecosystem and is planning future expansion.

Merlin Chain is scheduled to launch its mainnet this week. After launch, Merlin Chain plans to host a variety of staking events to reward real users and builders and distribute governance tokens through a “fair launch.”

Introduction to Merlin Chain

Merlin Chain is Bitcoin Layer2 that integrates the ZK-Rollup network, decentralized oracle network, and on-chain BTC fraud prevention module. Merlin Chain is committed to making Bitcoin fun again by powering Layer1 Bitcoin native assets, protocols, and products over a Layer2 network. Merlin Chainis is a subsidiary product line of Bitmap Tech, a top OG team with an overall market capitalization of over $500 million. Bitmap Tech’s BRC-420 “Blue Box” collection has become one of Ordinals’ most popular assets.

Users can follow Merlin Chain. Twitter Stay tuned for more updates.