Persistence One welcomes Merlin Chain, one of the leading Bitcoin Layer-2s, to its BTC interoperability solution. Merlin Chain will be one of first Bitcoin-based layer-2 platform integrated into the Persistence One interoperability solution.
The BTC interoperability platform that will allow BTC variants and derivatives from BTC Layer-2 and sidechains to become easily interoperable with one another, enabling seamless cross-chain swaps without needing a centralized exchange.
With mBTC integrated into the interoperability solution, token holders will be able to easily move it across multiple chains in the BTCfi world using the Persistence One intent-based swap solution.
Bringing Enhanced UX, Increased Liquidity, and Accelerated Growth to Merlin’s mBTC
Despite the rising number of BTC variants, the lack of interoperability and fragmentation is stalling the growth in the BTCfi world. This fragmentation can make it difficult for users to seamlessly move assets between different L2s. For instance, a user who is active on one Bitcoin Layer 2 network and sees a great opportunity in the Merlin ecosystem might struggle to move their assets from their current Layer 2 environment to the Merlin chain in a secure and efficient manner.
Persistence One addresses this challenge by leveraging the power of intents to enable fast, secure, zero-slippage cross-chain swaps.
Our solution offers a more efficient alternative to traditional bridging methods, providing significant benefits to the Merlin ecosystem:
- Enhanced User Experience:
Our interoperability solution improves the overall user experience by making Merlin’s opportunities more attractive and accessible to users across the Bitcoin ecosystem.
- Increased Liquidity and Engagement:
The interoperability will also help facilitate smoother asset flow between Bitcoin Layer 2s and Merlin, driving greater liquidity and encouraging active user participation within the ecosystem.
- Accelerated Growth and Adoption:
By simplifying and streamlining the user onboarding process, Merlin’s mBTC will experience accelerated growth and broader adoption within the BTCfi world as users will experience less friction when onboarding into the ecosystem.
What is Merlin Chain?
Merlin Chain is described as the native Bitcoin Layer 2 on a mission to “Make Bitcoin Fun Again.”
Built by Bitmap Tech, the protocol provides a solution that enhances the scalability and security of the Bitcoin network utilizing ZK-Rollup technology, on-chain BTC fraud-proof modules, and decentralized oracle networks.
Merlin Chain is backed by huge industry names such as OKX Ventures, Foresight Ventures, Kucoin, ArkStream Capital, And LK Venture.
Launched in January 2024, the platform utilizes zkEVM, which allows ZK-Rollups to process transactions and enhance scalability for Bitcoin. By bundling transactions together, the ZK-Rollups help reduce the computational load on the Bitcoin mainnet, helping minimize network congestion.
In addition to zkEVM, Merlin Chain integrates a decentralized Oracle network and data availability layer. The Oracle network ensures the trustworthy off-chain data used in transactions, while the data availability layer ensures transaction data and proofs are accessible to all validators for verification.
Merlin Chain also has MerlinBTC (mBTC), an innovative Bitcoin variant that aims to expand Bitcoin functionality through advanced mining, staking, and farming. With $1.04bn+ on Merlins Seal and $143m+ on Merlin chain, it is rapidly gaining traction in the BTCfi world. Its growing influence and innovative approach make it a perfect fit for the Persistence One interoperability solution.
What is Persistence One?
This is the problem that Persistence One is in the process of solving.
Persistence one will use a cross-chain intents-based solution, which allows users to specify the outcome of a particular swap while allowing the Solvers to choose their routes to make it happen. Solvers can unify liquidity across the entire market and take on the finality risk for users to provide incredibly fast swaps between chains with zero slippage.
Most importantly, Persistence One and its interoperability product will be secured by Bitcoin.
As you can see, we’re very BTC-orientated, and our service for BTC builders will only integrate BTC-aligned or BTC-related assets. Our goal is to make it easier to move Bitcoin around in all its forms and help bring the BTCfi world closer together in a cohesive ecosystem to push the boundaries of what’s possible with BTCfi, and we welcome Merlin Chain and mBTC onboard as one of our first integration.
About Persistence One
Persistence One is building a Bitcoin interoperability solution to enable cross-chain BTC swaps across Bitcoin Layer 2s.
The rapid rollout of Bitcoin L2s and side chains has led to fragmentation, hurting BTCfi scalability. Using the power of intents, Persistence One will enable users to move assets across Bitcoin Layer 2s more efficiently than traditional bridging, offering fast, secure, zero-slippage cross-chain swaps.
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