Merlin's Seal BTCPrice

(M-BTC)

Merlin's Seal BTC, also known as m-btc, is a digital token that functions as a Layer 2 mapping of native Bitcoin (BTC) from the Bitcoin Layer 1 network onto the Merlin Chain. It maintains a 1:1 mapping with the original staked Bitcoin. Merlin Chain is a Bitcoin Layer 2 solution designed to improve the scalability and efficiency of Bitcoin. It incorporates a ZK-Rollup network, a decentralized oracle network, and on-chain Bitcoin fraud proof modules to achieve its goals. The project aims to integrate Bitcoin's native assets, protocols, and products from Layer 1 into its Layer 2 network. The m-btc tokens are integral to the Merlin Chain ecosystem, enabling various functionalities for users. These include participating in lending activities, staking to earn rewards, swapping with other tokens, and trading within the Merlin Chain. M-btc also serves as a form of validation for assets that users have staked on the Merlin Chain. Users can acquire m-btc primarily through an initiative called Merlin's Seal, where they stake their native Bitcoin on the Merlin Chain to earn points and receive m-btc in return. For those with Bitcoin on the Layer 1 network, they can bridge their BTC to the Merlin Chain and then convert it into m-btc using platforms like MerlinSwap. It is also possible for new participants to obtain Bitcoin on the Merlin Chain from other networks and then swap it for m-btc. For the secure handling of funds, Merlin Chain utilizes Cobo MPC co-Managed Custody, which is a multi-party computation (MPC) wallet solution. M-btc is available on several blockchain networks, such as Merlin Chain, Kaia, Sui, zkSync, Linea, and Ethereum, among others. Learn more

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