Bitcoin Staking Now Available on Merlin Chain: A New Opportunity for DeFi

Bittime - Bitcoin (BTC) holders now have a new opportunity to gain profits through the presence of Merlin Chain. This innovative platform allows users to stake BTC and access a variety of profitable DeFi services.

Merlin Chain, a Layer 2 blockchain designed specifically for Bitcoin, comes with an innovative solution to overcome a long-standing pain point for BTC holders. So far, Ethereum investors have enjoyed various profit-making opportunities such as staking rewards, liquidity mining, and yield farming.

However, this does not apply to Bitcoin holders. The Merlin Chain team is here to change things by offering a solution that allows them to profit from their Bitcoin assets.

Expanding DeFi Opportunities for Bitcoin

"We realize that Bitcoin is one of the best performing assets over the last decade. However, Bitcoin holders have not been able to enjoy the benefits offered by other ecosystems," said Jeff, Founder of Merlin Chain.

"Therefore, we created Merlin Chain to provide real incentives to BTC investors and HODLers to not only HODL, but also earn profits and participate in the exciting DeFi ecosystem!" added Jeff.

M-BTC Staking and Access to DeFi Services

Merlin Chain allows users to stake M-BTC, a wrapped Bitcoin asset that generates staking rewards similar to stETH (wrapped Ethereum). Jeff emphasized that the security and scarcity of the Bitcoin network is an added value of this latest development.

M-BTC staking can be done on DeFi platforms such as Solv Protocol, where users can earn SolvBTC to access various DeFi services. Users can also provide liquidity and earn profits from leading DeFi protocols integrated with Merlin Chain.

Getting started with Merlin Chain

Investors interested in utilizing the Merlin Chain service must first move (bridge) their BTC holdings to the network using Merlin Bridge. Next, they need to lock their BTC on Layer 1 and receive BTC gas. This BTC gas can then be staked into Merlin's PoS mechanism, ultimately generating M-BTC.

Merlin Chain comes as an innovative solution that opens up new opportunities for Bitcoin investors to earn profits and participate in the fast-growing DeFi ecosystem. With its security, scarcity, and various features on offer, Merlin Chain is worth considering for Bitcoin holders looking to maximize the potential of their assets.

How to Buy Crypto on Bittime

You can buy and sell crypto assets in an easy and safe way via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.

To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.

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