Merlin Chain, a Layer 2 blockchain protocol, has introduced a proof-of-stake system.

The platform has integrated decentralized finance (DeFi) capabilities for Bitcoin holders.

Users can earn staking rewards, participate in yield opportunities, and engage in various DeFi activities using M-BTC tokens.

Merlin Chain has processed over $13 billion in bridge requests and distributed $700 million to other Layer 2 networks.

The platform currently manages $2.7 billion in crypto assets.

Merlin Chain aims to provide Bitcoin with equal footing in the DeFi space compared to Ethereum, bridging Bitcoin's security with DeFi opportunities.