BIT Enables ETHS Holders to Stake on BTC Layer 2 Merlin Chain: Bridging the Gap between CeFi and DeFi
In the world of crypto, staying ahead means being innovative. BIT, a top exchange specializing in BRC20 and Inscription tokens, has introduced a groundbreaking feature. It allows ETHS holders to stake their tokens on the Merlin Chain. This move offers a smooth staking experience and makes users eligible for the MERL airdrop, but also connects BIT as a crucial link between centralized finance (CeFi) and decentralized finance (DeFi).
BIT's Merlin staking initiative has been a success, with over 65 million USD in Assets Under Management (AUM) already secured, which is 35% of the total circulation supply of ETHS. This shows BIT's commitment to providing high-quality solutions in the inscriptions space and bridging the gap between CeFi and DeFi. With total AUM across the sector exceeding 73 million USD, BIT is leading the way in pushing the industry forward.
Merlin Chain is a big step in Layer 2 solutions. Compatible with Ethereum Virtual Machine (EVM), Merlin Chain integrates ZK-Rollup network, decentralized oracle network, and on-chain BTC fraud-proof modules, promising to enhance Bitcoin's native assets and protocols. As Merlin Chain's official partner, BIT helps users take part in the upcoming MERL Airdrop through ETHS staking.
The process is simple yet powerful. ETHS holders can deposit their tokens into their BIT accounts via the app and easily stake the amount they want using the Inscriptions feature. BIT ensures secure institutional-grade custody, protecting users' assets while letting them participate in the Merlin ecosystem. M-points, needed for the Merlin airdrop, are synchronized daily, making users eligible without any trouble.
BIT's partnership with Merlin Chain shows its dedication to improving the wider crypto ecosystem. By offering easy staking solutions and improving accessibility, BIT helps make crypto assets available to everyone. Using its strategic network across custody solutions and institutional-grade services, BIT is reshaping the crypto landscape, driving adoption and innovation while connecting CeFi and DeFi.