SOFA Magic, Hello Bitcoin! Announcing Partnership With Merlin Chain
The SOFA team is thrilled to announce our upcoming partnership with Merlin Chain as our next exciting partnership collaboration.
As the pre-eminment L2 scaling solution on Bitcoin, Merlin has given BTC holders much needed utility access to various value-add protocols and yield generation opportunities via their mBTC token. Furthermore, in recognizing SOFA’s innovative offerings, Merlin will become a strategic partner and deploy a certain amount of mBTC into our smart contract vaults to reflect their yield strategy expansion into crypto options and structured products.
In addition, as part of the collaboration, SOFA will also be working closely with Cicada Finance as an important integration partner, where they will be embedding yield-generating properties into ‘repacked’ BTC under their new ‘Yield As A Service” product.
In choosing to deploy their mBTC holdings into our smart contract vaults, Merlin users are now part of the SOFA family and can take advantage of our security design and full ecosystem benefits. Furthermore, the multi-faceted connectivity further demonstrates how SOFA can be integrated across both CeFi and DeFi channels, as well as across various stakeholders including exchanges, custodians, protocols, funds, and market makers.
Naturally, everyone on the SOFA team is thrilled about this collaboration, and sees it as yet another positive step towards our long road of defining a new DeFi settlement layer solution for all on-chain assets. Please stay tuned for more exciting developments to come!
— SOFA.org Team
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