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Author: Admin | 2025-04-28
Assets to Merlin Chain with M-points, which were redeemable for Merlin Chain’s governance token MERL. The Merlin’s Seal campaign helped Merlin Chain achieve a peak TVL of $3.5 billion in March 2024.DeFiDeFi is currently the leading sector on Merlin Chain, as Merlin Chain is designed for users to bridge their Bitcoin-native assets to Merlin Chain for access to an EVM smart contract platform specifically for Bitcoin-native assets. Merlin Chain’s DeFi TVL has fallen from its peak of $534.4 million in May 2024 to $131.5 million as of September 30, 2024, according to DefiLlama. Merlin Chain’s DeFi ecosystem is led by Solv Protocol, Avalon Finance, Surf Protocol, Merlin Swap, and Pell Network, each of which has more than $15 million in TVL at the time of writing.Solv Protocol: Solv Protocol is a Bitcoin liquid restaking protocol integrated with the Merlin Chain ecosystem that gives users access to Bitcoin yield opportunities. Since its April integration, Solv has introduced a BTC vault and points system, enabling users to deposit Merlin Chain’s M-Token M-BTC into Solv Protocol for SolvBTC, which earns rewards through integrations with Babylon and Ethena. SolvBTC offers multiple utilities within the ecosystem, including liquidity provision on Avalon Finance and trading on Surf Protocol. Solv’s Merlin Chain integration has amassed over $400 million in TVL, making it a key player in driving liquidity, DeFi growth, and access to Bitcoin yield opportunities on Merlin Chain.Avalon Finance: Avalon Finance is a decentralized lending protocol on Merlin Chain, specializing in borrowing and lending for Bitcoin
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