TL;DR

🧙 Merlin Chain Updates

• BTC Staking Vault: Stage 1 APR >15% all in BTC; Stage 2 launching soon.

• New MBTC farming opportunities coming soon.

• Wizard coming soon for on-chain insights and trading.

🔍 Altcoin & BTCFi & L2 Focus

• Altcoins like 0G, Plasma, Aster gaining; MERL up ~20%.

• L1 projects struggle; BTCFi L2s maintain growth.

✨ MBTC & Strategic Opportunities

• MBTC success: profit model + strong team.

• Retail can time altcoins while keeping BTC as core.

Summary

Merlin Updates: BTC Staking, Altcoin Momentum & Wizard AI

Jeff: My schedule has been packed, but there are key updates. Tomorrow we’ll announce the Bitcoin staking program results—first stage APR is over 15%, fully in BTC, with rewards distributed around Oct 8. The second stage launches around China’s National Day, feeding off ongoing successful farming projects Falcon Stablecoin.

In Korea, despite a KBW dip, altcoins are surging—projects like 0G ($5–6B), Plasma ($3.5B), and Aster ($20B) show strong momentum. New MBTC farming projects are coming soon, supporting the second phase of staking.

MERL has been performing strongly, up around 20% today even as other altcoins decline. Its FDV, combined with sets and DOG, is roughly double that of all three tokens. Altcoins are having their moment, and MERL is part of it. Additionally, major news about Wizard AI is coming soon, though not yet announced.

Bitcoin L1 vs L2 Momentum in Q4

Jeff: The difference comes down to focus and effort. Early 2023–2024 saw excitement around L1 assets like ordinals due to fair launches and Ethereum attention, but when sentiment cools, sustaining activity is hard.

Projects like DOG succeed because the team consistently builds partnerships, invests effort, and drives progress. Many other L1 projects fade when markets dip, with negativity and sell pressure overtaking community engagement.

By contrast, BTCFi-backed projects and VC-supported L2s keep building, investing time and money, and maintaining credibility, which drives strong performance. Sadly, many BTC-related L1 projects no longer prioritize authentic development, and this trend likely won’t change soon.

Conference Focus: BTCFi vs AI

Jeff: At conferences, the focus is 100% on BTCFi. Merlin has been developing BTCFi for over a year, and it’s now top three in the market, attracting interest from Solana Foundation, Sui Foundation, and multiple NASDAQ companies.

For AI, we only started a few months ago. Consistent building over the next 12 months is needed before seeing significant results. The challenge for builders is that impact takes time.

MBTC Breakthrough & BTCFi Strategy

Jeff: The MBTC breakthrough came from three key factors:

• Profit generation: creating a model that could continuously deliver returns.

• Undervalued BTCFi narrative: recognizing early the growing demand for Bitcoin integration across SVM, EVM, and other networks.

• Strong team capability: skilled in BD, tech, and security, allowing us to navigate challenges where others struggle.

Today, few projects maintain volume, TVL, or BTC presence, making Merlin’s pivot and consistent adaptation over the past year a clear example of resilient and strategic building.

Altcoin Opportunities & Strategic Patience

Jeff: Right now is a good window for retail to enter the altcoin market. Small events can lead to significant outcomes—for example, Aster, backed by Binance, is becoming highly liquid and could be very significant. By paying attention to details and understanding the product, investors can make better returns than six months ago. While Bitcoin remains strong, with careful research and timing, altcoins offer promising opportunities, and the market could maintain momentum for the next few months.