Published by Jessica Weisman-Pitts
Posted on February 5, 2024
2 min readLast updated: January 31, 2026
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New York, United States, February 5th, 2024, Chainwire
New York, United States, February 5th, 2024, Chainwire
Merlin Chain, the native Bitcoin Layer2, announced a round of funding from 24 investors including OKX Ventures, ABCDE, Foresight Ventures and Arkstream Capital.
Merlin Chain offers a native scaling solution that integrates ZK-Rollup network, decentralized oracle network, and on-chain BTC fraud-proof modules. It is committed to empowering Bitcoin’s native assets, protocols, and products on Layer1, to Make Bitcoin Fun Again.
Merlin Chain is built by Bitmap Tech, a premier OG team boasting an overall market cap exceeding $500 million. The BRC-420 “Blue Box” collection under Bitmap Tech has become one of the hottest Ordinals assets, going from an inscription cost of $0.15 to an ATH floor price of $34,000, reaching the 3rd largest market cap following BAYC and CryptoPunks.
As a strong believer in Bitcoin for many years, Bitmap Tech, the team behind Merlin Chain, is extremely committed to the development of the Bitcoin ecosystem, and seeks to bring more users and assets to Bitcoin through their work, rather than serving other ecosystems in the name of Bitcoin.
This raise enables the team to continue enriching the ecosystem, and boosting the overall liquidity. So far, Merlin Chain has built a powerful DApp ecosystem, and is planning for further expansion.
Merlin Chain is set to launch its mainnet this week. Following the launch, Merlin Chain plans to host a bunch of staking events and distribute its governance token through a “fair launch”, aiming to reward real users and builders.
About Merlin Chain
Merlin Chain is a Bitcoin Layer2 that integrates ZK-Rollup network, decentralized oracle network, and on-chain BTC fraud proof modules. Merlin Chain is committed to empowering Bitcoin’s native assets, protocols, and products on Layer1 through its Layer2 network, to Make Bitcoin Fun Again. Merlin Chainis is a subsidiary product line of Bitmap Tech, a premier OG team boasting an overall market cap exceeding $500 million. The BRC-420 “Blue Box” collection under Bitmap Tech has become one of the hottest assets on Ordinals.
Users can start following Merlin Chain’s Twitter for more updates.
Contact
Jeff
Merlin Chain
bitmap@bitmap.tech
A Layer2 solution is a secondary framework built on top of a blockchain that enhances its scalability and transaction speed without altering the base layer.
ZK-Rollups are a Layer2 scaling solution that uses zero-knowledge proofs to bundle multiple transactions into a single proof, enhancing efficiency and reducing costs.
A governance token is a type of cryptocurrency that allows holders to participate in decision-making processes within a blockchain project or ecosystem.
BTC fraud-proof modules are security features designed to protect Bitcoin transactions from fraud and ensure the integrity of the blockchain.
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