On February 7th, Merlin Chain rolled out Merlin’s Seal, a program designed to encourage users to stake assets in exchange for points toward future airdrops. Participants can mint M-Tokens on Layer 2, such as M-BTC for their staked BTC, which maintains a 1:1 correspondence.

These M-Tokens function across the Merlin Chain ecosystem, supporting actions like trading, swapping, lending, and staking.

M-BTC serves as the Layer 2 representation of native Layer 1 BTC on Merlin Chain, with over 18,000 units holding a value near $1.8 billion.

The token is already live on several public chains, including Merlin Chain, Ethereum, ZkSync Era, Mode, Linea, Sei, Taiko, and Kaia. The team plans to further expand its presence to boost liquidity across additional networks.