Merlin Chain (M-BTC)

Merlin Chain introduced Merlin’s Seal on February 7th, an initiative that motivates users to stake assets on Merlin to earn points for upcoming airdrops. In turn, stakers can mint M-Token on Layer 2, such as M-BTC for staked BTC, preserving a 1:1 mapping.

These M-Tokens are operational throughout the Merlin Chain ecosystem, enabling activities like lending, staking, swapping, and trading.

M-BTC represents the second-layer mapping of the native BTC token from layer 1 onto Merlin Chain, with more than 18,000 units valued at approximately $1.8 billion.

M-BTC has been launched on multiple public chains including Merlin Chain, Ethereum, ZkSync Era, Mode, Linea, Sei, Taiko, Kaia, and more. Plans are underway to continue its expansion to enhance liquidity across a broader range of networks.