The Bitcoin Layer 2 project Merlin Chain has completed a new round of financing, with participation from OKX Ventures and others

2024-02-05 12:21:00

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ChainCatcher news, Bitcoin Layer2 solution Merlin Chain has completed a new round of financing, with participation from 24 institutions including OKX Ventures, ABCDE, Foresight Ventures, and Arkstream Capital. This round of financing will be used for the continuous upgrading and optimization of the Merlin Chain infrastructure, better achieving asset and user interoperability between the Bitcoin Layer 1 and Layer 2 networks, enhancing liquidity and richness within its ecosystem.

Merlin Chain focuses on Bitcoin-native solutions, integrating key modules such as ZK-Rollup networks, decentralized oracle networks, and on-chain fraud proofs for Bitcoin, aiming to empower Bitcoin Layer 1's native assets, protocols, and application ecosystems, allowing them to continue innovating and amplifying asset potential on Layer 2 networks.

The team behind Merlin Chain, Bitmap Tech (formerly known as RCSV), has been deeply involved in the Bitcoin ecosystem for a long time, contributing multiple native innovative projects to Bitcoin over the past year, with a total market value exceeding $500 million. Its issued BRC-420 "Blue Box" has become one of the most popular assets in the Ordinals protocol, with prices soaring from $0.15 to $34,000, making its market value second only to BAYC and CryptoPunks.

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