Merlin is a yield aggregator that concentrates on providing high and reliable yield through their auto-compounding algorithm. Merlin handles gas fees, yield procedures and the security of the ecosystem while providing the users with a good experience in yield farming. Normally, their APR and APY includes fees users might need to pay on the process of farming.
Why was Merlin created?
The emergence of DeFi has been for the greater good, because it has pushed the crypto world forward, and in ways that we never would have imagined. Despite the growth of the crypto sector, there are many problems present in the crypto and DeFi space. On the BSC, one of the Blockchain networks competing with the Ethereum smart chain, is known to have so many DeFi platforms under it, yet there are no available DeFi platforms that handle the true needs of a yield farmer.
Merlin mixes yield optimization and capabilities, thereby presenting an all-in-one DeFi project. They understand the need for accumulating key crypto and auto-compounding assets. This is the reason they have built the following:
A yield aggregator that will automatically allow you to auto-compound your assets within their ecosystem.
An ecosystem where you can automatically get key cryptos once you stake the platform's token, $MERL.
Merlin Security and Audits
The platform is carefully managed by experts in the blockchain and cybersecurity sector who have been in practice for many years.
To properly manage their security on Merlin and avoid future losses, Merlin has employed the help of three blockchain security audits that will take them through 3 audits to certify the security in their ecosystem. The first security audit that they recently passed through is the Hacken Cybersecurity, and the remaining two pending before the platform's audits can be finally completed are Certik and Haechi firms.
Smart contract security
Smart contracts make so many things possible in the DeFi sector. It helps to connect cryptocurrencies and decentralized apps in the blockhain world. Merlin's mart contracts are going to be audited by blockchain security audits before they can be confirmed to be safe for use. Also, developments made concerning any future product will be audited to be more secure. Tinelocks have also been placed in different smart contracts which will call for more security because the presence of these time locks will help to reduce fraud.
The recent security strategy
To prevent fraudulent activities from occurring, possible security measures are taken. To protect their users from flash loan attacks which is a normal type of security breach to a DeFi project in the DeFi world.
Merlin smart contracts will not be allowed to integrate with any other smart contract, because it is through smart contracts that flash loan attacks are made.
Merlin has started making arrangements to work with an insurance plan, Soteria to help back up users' data and funds in case of any security breach. This will give users more confidence in the ecosystem.
The security of Merlin has always being its priority, so it will do everything in its power to provide the most suitable security updates to their ecosystem.
Merlin important links:
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
Publishers Informations :
Bitcointalk Username : Ubaraw
Bitcointalk profile link : https://bitcointalk.org/index.php?action=profile;u=2835216
Bep-20 Wallet Address:0x50B5253269ce366EaaB8F35142c905827B6D672A