Merlin Chain has recently announced its exclusive strategic partnership with Taiko, a permissionless, open-source Ethereum L2 rollup. As per Merlin Chain, this collaboration serves as a significant landmark achievement in improving liquidity and yield opportunities for $BTC holders. The platform took to social media to reveal this development.
Merlin Chain x @taikoxyz We’re excited to announce our collaboration with Taiko—a fully open-source, permissionless Ethereum-equivalent rollup with high configurability.By bringing M-BTC to Taiko, we’re unlocking expanded yield and liquidity opportunities for Bitcoin… pic.twitter.com/84y6zDJ2Xz
— Merlin Chain (@MerlinLayer2) November 13, 2024
Merlin Chian’s Strategic Collaboration with Taiko Enables $M-BTC Token for Liquidity and Yield
Merlin Chain shared a series of X posts to provide the details of this endeavor. It mentioned that the integration with Taiko permits the consumers to bring Merlin Chain’s $BTC-backed coin “$M-BTC” to Taiko. This move reportedly unlocks exclusive chances in the world of Bitcoin finance. Taiko is getting recognition as a profitable Ethereum L2 solution. It permits the interaction of Bitcoin-based assets within the resilient ecosystem of Ethereum. Hence, it creates more diverse financial options to facilitate $BTC holders.
At the moment, Taiko’s 2nd season of the Trailblazers project has allocated up to 6M coins as a reward for builders and active participants. This incentive project provides an opportunity for the $M-BTC holders so they can get rewards for their engagement. Keeping this in view, the collaboration offers several benefits in the case of liquidity mining and yield farming. As included in the Trailblazers initiative of the platform, the Taiko Liquidity Royale will play a significant role.
The project will disseminate 1M coins to the prominent hundred liquidity providers. This will generate more incentives targeting the participation of the $M-BTC holders. The liquidity pools for M-BTC on Taiko’s ecosystem will be eligible for this project. This will allow $BTC holders to grow their returns. The engagement procedure takes into account the minting of $M-BTC coins on the Merlin L2 platform. Subsequently, the participants need to bridge $M-BTC between Merlin Chain and Taiko network by using Protocol Free. Additionally, by taking part in on-chain operations such as block proposals, transaction volume, and transactions, they can earn.
The Endeavor Lets $BTC Holders Engage with the Rewards-Rich Platform of Taiko
Hence, the partnership offers an unparalleled pathway for $BTC holders to engage with the rewards-rich platform of Taiko. Both Merlin Chain and Taiko deem this development as a thrilling move in the BTCFi sector by enabling $M-BTC, offering a series of liquidity and yield-boosting options.
