Merlin Chain is about to undergo a PoS upgrade, and the second stage of the Prestage staking event starts today with an APR of up to 50%.

BlockBeats News, February 17th, Merlin Chain announced that to celebrate the upcoming PoS network upgrade, the second phase of its Prestage staking event will officially start today at 14:00 GMT.

In this phase, the staking cap has been raised to 20 million MERL tokens, with an annualized yield of up to 50%. It is worth mentioning that after the PoS mainnet upgrade, staking and governance participation for BTC/MBTC will be supported.

In the previous stage of the staking event, the initial 10 million MERL tokens were fully locked in just 26 minutes, during which there was a net outflow of over 17 million MERL tokens from centralized exchanges (CEX), demonstrating strong user participation.

Furthermore, the PoS upgrade will further increase the number of network validators, contributing to the decentralization and security enhancement of Merlin Chain.