The mainnet staking event Merlin's Seal of the
Bitcoin native second-layer network, Merlin Chain, was launched on the 8th of this month. As of the 16th, Merlin's Seal has brought a total value locked (TVL) of $1.29 billion to Merlin Chain, including 13,600 BTCs. This number far exceeds that of other Bitcoin second-layer projects in the same period and is still rising.
Merlin Chain is invested by institutions such as OKX Ventures, ABCDE, Foresight Ventures, Arkstream Capital etc., aiming to empower native assets, protocols and application ecosystems on Bitcoin layer one and continue innovation and amplify asset potential on layer two networks. The hosted mainnet staking event Merlin's Seal supports participation from 14 types of Bitcoin native assets as well as
Ethereum and stablecoins etc., it is expected to distribute 20% MERL governance tokens for Merlin Chain. It is historically the most rewarding staking event with widest support range for Bitcoin native assets.