Gate is a centralized crypto exchange founded in 2013 offering spot, futures, stocks and earn products for traders who want one multi-asset account.
TVL $5.84B−4.6%Ethereum · Bitcoin · BNB Chain +129
Ecosystem guide
The Merlin ecosystem
The best dApps on Merlin by sector: DeFi, games, NFTs and more. 19 projects tracked, 19 reviewed in full.
Full Merlin ranking →- dApps
- 19
- Reviewed
- 19
- TVL tracked
- $6.51M
- Native token
- MERL
Merlin is a Bitcoin Layer 2 network that aims to bring smart contract apps to Bitcoin holders. It uses zero-knowledge rollup technology to batch transactions and settle them back to Bitcoin, and it is EVM-compatible, so developers can reuse Ethereum-style code and wallets. In practice, people move BTC onto Merlin and use it in swaps, lending and yield products.
The native token is MERL, which is tied to the network's ecosystem and governance. Fees on Merlin are generally paid in bridged BTC, not in MERL. At the time of writing, DeFi TVL on the chain is about $8.8M, so activity is modest, and we list 19 dApps connected to it on this site.
The Merlin ecosystem is known for Bitcoin-linked finance. MerlinSwap is the main native DEX, and Avalon Finance offers Bitcoin-focused lending. Meson and Symbiosis handle cross-chain moves, while Solv, Bedrock uniBTC and Solv Basis Trading offer tokenized Bitcoin and yield products. Many of these run on several chains, so Merlin is often one deployment among many. Review each dApp's page for its risks before using it.
Merlin ecosystem in numbers
- Tracked
- 19
- Reviewed
- 19
- Total TVL
- $6.85B
- Avg. score
- 6.0/10
Largest by TVL
- 1
Gate$5.84B
- 2
SolvBTC$467M
- 3
Bedrock uniBTC$326M
- 4
Solv Basis Trading$191M
- 5
Symbiosis$8.48M
Highest rated
- 1
- 2
- 3
- 4
Solv Others7.0
- 5
Avalon Finance6.8
Reviewed
Top-rated dApps on Merlin
Symbiosis is a cross-chain swap and bridge protocol routing trades across 50+ networks, including Bitcoin, Solana and TON, for DeFi users and developers.
TVL $8.48M+4.3%Ethereum · TON · Tron +53
Solv Basis Trading offers hedged basis-trade yield products for Bitcoin holders within Solv Protocol, with about $202.6M TVL across eight chains.
TVL $191M−3.5%BNB Chain · Arbitrum · Ethereum +5
Solv Protocol issues SolvBTC, a 1:1 tokenized Bitcoin, plus yield-bearing versions for BTC holders; this listing tracks its Merlin deployment.
TVL $576K+7.5%Merlin
Avalon Finance is a Bitcoin-focused lending protocol with on-chain markets across many chains and a fixed-rate CeDeFi credit line for institutions.
TVL $898K−23.3%IoTeX · BNB Chain · Bitlayer +18
Meson is a cross-chain swap protocol for moving stablecoins and major assets between 40+ blockchains using HTLCs and pre-deposited liquidity.
TVL $691K+8.0%Merlin · BSquared · BNB Chain +36
By sector
Best Merlin dApps by sector
DeFi on Merlin12
- 1
- 2
- 3
- 4
- 5
Gaming on Merlin1
- 1
Bitmap Game$31.5K
Infrastructure on Merlin6
- 1
- 2
Meson6.5
- 3
Brotocol6.0
- 4
zkLink Nova5.5
- 5
Butter Network2.5
Guides
Merlin guides
Blockchain
Blockchain Examples and How They WorkLearn how blockchains record and verify transactions, how consensus keeps a shared ledger in sync, and how Bitcoin, Ethereum and other networks put the technology to work. See practical examples, key trade-offs and ways to assess whether a blockchain is a good fit.
Blockchain
Blockchain for Data: Uses, Limits and How It WorksBlockchains can create shared records that are difficult to alter, but they are not a general-purpose replacement for databases or file storage. Learn what belongs on-chain, how blockchains connect to outside data, and when the trade-offs make sense.
Blockchain
Casper Network and CSPR: A Practical Guide for 2026Casper Network is a proof-of-stake blockchain, and CSPR is its native token. This guide explains the network’s purpose, how CSPR is used, and what to check before staking or transacting.
Blockchain
Cosmos Network Guide: Chains, IBC and ATOM in 2026Cosmos is an ecosystem of independent blockchains, not one chain that processes every app and token. Learn how the Cosmos Hub, Cosmos SDK and IBC fit together, what ATOM does, and how to assess transfers, staking and risks in 2026.
Blockchain
How the Bitcoin Lightning Network WorksThe Bitcoin Lightning Network moves payments through channels that sit on top of Bitcoin, so most transfers do not need their own blockchain transaction. Learn how channels, routing, fees and liquidity work, and what to consider before using Lightning.
Blockchain
How to Mine Cryptocurrency on Android in 2026Android phones can run mining software, but their limited processing power, battery drain and heat make profitable mining unlikely. Learn how to assess the risks, try a small proof-of-work experiment safely, and spot apps that only simulate mining or sell cloud contracts.
Merlin FAQs
What is Merlin chain?
Merlin is a Bitcoin-focused Layer 2 network. It is built to let people use Bitcoin-ecosystem assets in smart contract apps such as swaps and lending, which the Bitcoin base layer does not support natively. It is EVM-compatible, so tools from Ethereum-style chains generally work on it.
What is the MERL token used for?
MERL is the native token of the Merlin ecosystem. It is mainly associated with network participation and governance rather than everyday gas payments. Check the project's own documentation for its current uses and supply details before relying on any of them.
What do transactions on Merlin cost?
Merlin is built around bridged Bitcoin, and its fees are generally paid in BTC rather than in MERL. Costs vary with network conditions, so check the fee shown in your wallet before you confirm any transaction.
How much value is locked in Merlin DeFi?
At the time of writing, DeFi TVL on Merlin is about $8.8M, which is small compared with major smart contract chains. Several of the larger names on our list, such as SolvBTC and Bedrock uniBTC, are multichain, so their total TVL reflects all the chains they run on and not just Merlin.
Which dApps can I use on Merlin?
Our list includes MerlinSwap for swaps, Avalon Finance for Bitcoin lending, Meson and Symbiosis for cross-chain transfers, and Solv and Bedrock uniBTC for Bitcoin-linked tokens and yield. Some entries, like Gate, are centralized services and not Merlin-native apps. Each dApp page shows its category and supported chains.
Are there risks in using Merlin dApps?
Yes. Bridges and small-liquidity DEXes carry smart contract risk, and a smaller chain like Merlin may have thin liquidity that leads to price slippage. Bitcoin-linked tokens also depend on custodians or bridge designs, so read how each one is backed. Start with small amounts and only use funds you can afford to lose.
What is the largest dApp on Merlin by TVL?
Gate is the largest dApp on Merlin by total value locked, with $5.84B across all the chains it supports. It is followed by SolvBTC ($467M) and Bedrock uniBTC ($326M). TVL figures come from DefiLlama and change daily.
Which dApp on Merlin has the highest DappsAtlas score?
Gate has the highest score at 7.7/10, ahead of Symbiosis (7.2) and Solv Basis Trading (7.0). Scores weigh security, ease of use, fees and features, and are based only on facts we could verify.
How many dApps are on Merlin?
DappsAtlas tracks 19 dApps on Merlin. Of these, 19 have a full review and 16 report value locked, $6.85B in total, counting value on every chain they support.
What are the most common types of dApps on Merlin?
Anchor Btc (3), Cross Chain Bridge (2) and Basis Trading (2) are the largest categories on Merlin, by number of projects.
Which dApps on Merlin grew the most this week?
Among dApps with at least $1M locked, MerlinSwap had the biggest 7-day TVL gain (+8.4%) and DyorSwap AMM the biggest drop (−25.4%). Combined TVL moved −4.4% over the same seven days.
What is the average score for dApps on Merlin?
The 15 rated dApps on Merlin average 6.0 out of 10. Of these, 0 score 8 or higher and 1 score below 5.