INTRODUCTION
There are a series of Defi platforms rising up recently with the motives of providing solutions to the challenges facing the Defi systems. These platforms have not really introduced measures that will give lasting solutions to the Defi system challenges. There are still trust issues and low increase in the socioeconomic lives of the participants in the cryptosystem. These challenges are what moved a group of zealous experts in the cryptosystem to come together and pool their years of experience in the establishment of the Merlin Defi community, with the main focus of providing lasting solutions to these challenges.
Merlin platform will introduce and establish great and unprecedented products with unique features that will assist its users to optimize their aims of participating in the cryptosystem. There will be adequate and maximized yield return on investment for users in the Merlin community. The primary focus of the Merlin team is on reducing gas fee costs, APY tracking, securing the motives of Defi users which is to maximize their yield farming at a very low cost.
Merlin platform is based on smart contracts that is built on blockchain technology which will assist to protect and maintain the values of the platform.
They have established a yield aggregator that will enhance auto-compounding of assets (such as notable cryptocurrencies like BTCB, BNB, ETH, CAKE, etc). They have also developed an ecosystem that will help users to earn more cryptocurrencies.
The transactions in the Merlin community are executed using its native cryptocurrency - MERL. MERL can be purchased with BNB at https://exchange.pancakeswap.finance/#/swap
The holders will participate in the governance decision and also receive a share in the fees realiszed from the community transactions.
The Merlin management is a team of experienced blockchain, business and cyber security experts.
The team has decided to remain anonymous because they believe the Merlin platform will speak for itself. They work to ensure the protection of their users in terms of making decisions about investing their money.
MERLIN MISSION
The community has some great strategies employed to achieve its aim of optimising financial freedom, access, and sovereignty for every user of cryptocurrency. The protocols adopted by the community to accomplish these aims are:
Introducing good rewarding products across the crypto blockchains.
Ensuring security of the system and assets through routine audits and periodic security checks.
Enhancing token utility by introducing mechanisms and products that will regulate the availability of tokens in order to improve its value.
Creation of accessible blockchain products through user-centricity.
MERLIN SECURITY AND AUDITS
Merlin management will adopt measures to check, monitor and control the activities in the community, in order to protect, preserve and maintain the values of the community.
The activities on the merlin platform is based on smart contracts and there will be regular auditing on the blockchain smart contracts by a renowned blockchain auditing firm to ensure the security of its transactions. There will also be applied timelocks on all the smart contracts, stating the period of time required to effect changes in any contract.
There are some other measures enforced in the Merlin community system lab to protect it from attacks. Such include:
Introduction of insurance policies.
Merlin management will have protect the community by acquiring an insurance policy cover for their smart contracts in order to have an edge against the failure of the contracts. They having arranged with Sotera to provide the insurance services.
There will be continuous checks conducted on the smart contracts to ensure its security and improve its standard.
Implementation of Fair LP Price calculation
This is a continuous comparison of fair MERL token price with fair assets reserve in order to realize a favourable LP token price that is safe from attacks and cannot be manipulated.
Prevention of external Smart contract interaction
Interactions with third party or external smart contracts may be harmful to the Merlin community, because it will expose the community to attacks. Therefore, the management has stopped and banned any external smart contracts from interacting with its contracts.
CONTROLLING SUPPLY MERL TOKENS
The management of the Merlin does not have a present maximum number of MERL tokens that will be provided to the platform. This might cause deflationary effects on the value of the ecosystem. Thus, there are some measures implemented to limit the tokens available in order to protect its value. Such include:
Burning
50% of the burn contribution is used to buy back MERL tokens during market volatility so as to stabilize its value.
Lottery
59% of the burn contribution is used to buy MERL and placed in a lottery pot.
The management will disclose other measures to the ecosystem as and when due.
MERLIN BUSINESS MODEL
The Merlin ecosystem invests some financial tools in automated vaults for profit maximization. They use the proceeds of these vaults to reward its users in the form of LP generated by the Boosted Yield Convertor, which maximize the users profit through the conversion of 30% of the compounded vault rewards into MERL tokens to reward the users.
Merlin uses it to compound its users' assets, with the compounding time ranging from every 2-4 hours
MERLIN LOTTERY
The management of the Merlin community will establish a lottery program in the Merlin community that will be launched soon, aimed at maximizing its users' benefit.
Users who wish to participate in the program will have to purchase a lottery ticket with 0.2 MERL. A minimum of 50 tickets can be bought at a time.
Every ticket has a 4 digit number attached to it which must match exactly with the lottery drawn every 24 hours, for a winner to emerge. Tickets with 2 or 3 matching numbers stand a chance of winning a prize.
FAQ
Some of the questions frequently asked by users of Merlin platform include:
What is the difference between APR and APY?
APR is the accrued simple interest in an investment over a period of 1year. While
APY is the accrued compound interest over a period of 1year.
Who is in the Merlin team?
The Merlin team can be contacted at https://t.me/merlinlab which is the official channel. Users' private wallet keys or recovery codes will never be requested from them by the managers of the channel. Participants are warned to be careful with their chats to avoid fraudsters
PROJECT 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
WRITER DETAILS :
BITCOINTALK USERNAME : Obigidon
BITCOINTALK URL : https://bitcointalk.org/index.php?action=profile;u=2968567