PANews reported on April 24 that according to official news, Bitcoin Layer2 public chain Merlin Chain officially joined WBTC DAO and became a governance member of the Wrapped Bitcoin (WBTC) protocol. Project founder Jeff Yin will represent Merlin Chain and work with ten core members including BitGo to jointly lead WBTC's technological upgrades and global ecological expansion.

Jeff Yin, founder of Merlin Chain, said: “BTCFi is a long-term narrative. From Merlin’s leading Bitcoin staking last year to joining WBTC DAO today, it is just the beginning. In the future, we will jointly explore Bitcoin multi-chain liquidity, trading experience upgrades, BTCFi global compliance, and more Bitcoin interest-bearing opportunities.”

This joining will not only further consolidate Merlin Chain’s core position in the BTCFi infrastructure, but will also promote the deep integration of WBTC and MBTC, and expand the possibilities of native BTC DeFi products.

At present, Merlin Chain's native asset M-BTC has been deployed to more than 15 chains with a total value of more than 1 billion US dollars. Due to the recent trading activities held with PancakeSwap, nearly 6 million ecological tokens $MERL have been deployed to BNB Chain, showing a strong cross-chain growth momentum. Merlin Chain will continue to expand Bitcoin's on-chain application scenarios and promote the practical innovation of BTC assets.