Merlin Chain: Reshaping the Bit Ecosystem
"Merlin's goal is to empower Bit assets with EVM technology, making smart contracts and decentralized finance possible."
—Jeff Yin
BTCFi: A Core Element of Bit's Future Development
In recent months, BTCFi has been gaining momentum, combining Bit's unparalleled brand recognition with the emerging DeFi space. BTCFi refers to the idea of integrating Bit into decentralized finance systems, unlocking new opportunities for Bit holders. Leveraging innovative technologies and protocols such as Scroll, Linea, and Babylon, BTCFi has the potential to elevate Bit from a digital store of value to a comprehensive decentralized finance ecosystem.
"Almost everyone knows Bit - from my grandparents to tech-savvy youngsters. This market trust and awareness gives Bit a huge advantage in the decentralized finance space."
—Jeff Yin
BTCFi opens a new narrative for Bit, providing users with a novel way to interact with Bit beyond its traditional role as a store of value. Merlin Chain is at the forefront of this trend, integrating Bit assets (such as Ordinals and Runic tokens) into its Layer 2 solution to facilitate smart contract execution and access to decentralized applications.
Strategic Priorities for Shaping the Bit Ecosystem
- Advancing BTCFi: As the flagship project for BTCFi, Merlin Chain is focused on expanding the Bit ecosystem, integrating it with other DeFi protocols and platforms. By building bridges between Bit and other blockchain ecosystems, Merlin Chain is opening new pathways for Bit to participate in the evolving decentralized finance landscape.
- Developing Bit-native Assets: Merlin Chain is focused on creating Bit-native tokens like BRC-20, aiming to make Bit more interactive for the average user. These assets create more engaging experiences for users, allowing them to interact with the Bit ecosystem in new ways.
- Driving Mainstream Adoption: As with any emerging technology, user adoption is crucial for its development. Jeff believes that Merlin Chain's efforts to make Bit more accessible and introduce innovative decentralized applications to the network will help expand Bit's appeal, especially to the average everyday user.
"Developing Bit-native assets is key to attracting retail users and enhancing the interactive experience."
—Jeff Yin
Merlin Chain's Key Technologies: BitVM and OP_CAT
"Technologies like BitVM and OP_CAT not only simplify the development process but also ensure security, which is particularly important for small teams."
—Jeff Yin
Advice for Web3 Developers: Innovate, Don't Imitate
As a visionary in the Web3 space, Jeff offers valuable advice for Web3 developers: "Create solutions that are unique to the properties of Bit, rather than simply copying concepts from other chains. By conceiving creative ideas that can leverage the advantages of Bit, developers can contribute to the broader narrative of Bit's development and make a lasting impact in this domain."
"Developers should focus on Bit's unique features, rather than simply imitating concepts from other chains. Only by fully utilizing Bit's strengths can they truly revitalize the Bit ecosystem."
—Jeff Yin
BTC Runes Incubator: Supporting Early-Stage Bit Projects
Subscribe to OnePiece Labs Web3 Talks
This episode marks the beginning of the OnePiece Labs Web3 Interview Series, dedicated to providing you with deeper insights into the individuals and technologies shaping the future of Bit and Web3. Subscribe to our YouTube channel to receive regular updates and never miss an interview with leading Web3 innovators.
🔔 Subscribe now for the latest updates: OnePiece Labs Web3 Talks
This episode not only delved deeply into the evolving role of Bitcoin, but also provided important guidance for Web3 founders, developers, and enthusiasts who are passionate about decentralized technology. Look forward to more programs filled with actionable insights, techniques, and real-world experiences from industry leaders.
