INTRODUCTION
Many Defi platforms are springing up recently with the presumed aim of providing solutions to the challenges of the traditional financial systems. Nevertheless, these Defi platforms have not been able to provide lasting solutions to these Defi challenges, especially the maximization of the assets of the users.
Thus, the challenges faced by Defi users in maximizing their assets led the Merlin team to establish the Merlin ecosystem, with the motive of combining unique features to get and maintain the best yield return efficiency on the users invested assets. They concentrate mostly on gas fee costs, APY tracking and actualizing the motives of Defi users which is to maximize their yield farming at a very low cost.
The Merlin community is governed by experts with resounding experience in cryptosystem who will employ their experience in the achievement of the company objectives.
The platform has an automated system that collects and combines earnings of popular cryptocoins like BTCB, BNB, ETH, CAKE, etc. They have also developed an ecosystem that will help users to generate more cryptocoins.
MERL tokens can be bought at pancakeswap with BNB balances on binance on MetaMask wallet or traded with other tokens.
MERLIN MISSION
The Merlin community is moved by an objective of actualizing financial freedom, access, and sovereignty for every participant in the cryptosystem. They initiated and implemented strong set ideas to achieve this which include:
Establishment of special great unique products across the crypto blockchains
Developing product features that will enhance token utility and ushering in mechanisms that will regulate the amount of tokens circulating in the ecosystem so as to improve and maintain its value.
Constant auditing and conducting security checks of the community activities to guarantee security of the system and assets.
Instituting accessible blockchain products through user-centricity
MERLIN SECURITY AND AUDITS
Most Defi platforms are built on smart contracts based on blockchain technology. This helps to enhance the security data and information of its transactions. Merlin established a regular audit of its blockchain contracts by a reputable audit firm. They also lock the timing of the smart contracts, stating the period of time required to effect changes in any contract.
CONTROLLING MERL AVAILABILITY
The Merlin team does not indicate the quantity of MERL tokens that will be made available to the community. This may be a threat to the asset of the users during market volatile conditions. It is minted in the proportion of BNB earned on the platform. Therefore, the team has some measures implemented to control the supply of the tokens in order to protect its value. Such include:
Burn
50% of the burn contribution is applied to buying back MERL tokens in order to stabilize the value during inflationary periods.
Lottery
50% of the burn realized fund is utilized to buy MERL tokens and staked in a lottery pot.
The management will disclose other measures to the ecosystem as and when due.
Merlin Business Model
The Merlin platform makes use of vaults staking. Investors place their token assets in these vaults. 30% of the collection of funds realized on the vaults are converted into MERL tokens used to compensate the investors in the form of LP created by the increased Yield Convertor. This improves the earnings of its users.
Merlin creates funds for its users through strategic investment of financial instruments in automated machines, with the motive of increasing yields.
MERLIN LAB'S UPGRADED SECURITY STRATEGY
The Merlin community has some measures implemented in the system lab to protect it from attacks. Such include:
Implementation of Fair LP Price calculation
Merlin often examines and checks the price of its token with the price of reserve assets in order to state a favourable token price that is devoid of manipulations.
Prevention of external Smart contract interaction
External contracts are not allowed to be joined with Merlin smart contracts. This help to monitor and prevent flash loan attacks from smart contracts.
Introduction of insurance policies.
Merlin users will have to acquire an insurance policy cover for their smart contracts against the failure of the contracts. They are having an arrangement with Sotera to provide the insurance services.
The management will continuously conduct checks on the smart contracts to ensure its security and improve its standard.
MERLIN LOTTO
Merlin lotto is a program designed for the benefit of the Merlin community members. It operates as follows:
The lotto ticket is obtained with 0.2 MERL.
A participant can buy a maximum of 50 tickets at a time.
Each ticket has a unique 4 digit number attached to it which must matched exactly with the lottery drawn numbers for a winner to emerge.
Tickets with 2 or 3 matching numbers stand a chance of winning a prize.
The lottery winning numbers are drawn every 24hours i.e one session per day.
ROADMAP
These are steps taken in the establishment of the Merlin community. They are as follows:
Q1 2021
Defi formation
Establishment of risk assessment model
Strategic round raising
Hiring Additional core developers.
Brand identity
UI/UX design of the Merlin website
Q2 2021
Executing pre launch activities such as Airdrop and ambassador campaign.
Development of Merlin smart contracts
Development of Zap feature.
Deploy testnet for pre launch checks
Engagement of audit firm - Hacken Cyber security and complete auditing.
Complete audit with Certik and Peckshield
Deploy market activities
Launch Merlin bounty reward program
Engage CEXs for listing
Conducting public presale
Launching of mainnet
Enable wallets integration
Establishment of multi-language website
Finalise UI/UX for lottery
Launch new single-asset deposit vaults
Add Merlin pools with more key token rewards
Adding more auto-compounding LP
Q3 2021V
Launching more deflationary mechanics and burn contribution
Development and launching of lottery
Open buyback and burn reserve
Cross chain
Processing of CEX listing
Creation of awareness through marketing and PR activities.
Additional project release
The team will disclose other roadmap items in the coming weeks.
Useful Information:
Telegram Announcement: https://t.me/merlinannouncements
Telegram Community: https://t.me/merlinlab
Telegram Bounty Rewards Group: https://t.me/merlinbounty
Twitter: https://twitter.com/Merlinlab
Reddit: https://reddit.com/r/MerlinLab
Medium: https://merlinlab.medium.com/
Website: https://www.merlinlab.com
Written by McOscar
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