MISSION OF MERLIN
The provision of access, sovereignty and actualization of financial freedom for every participant in the cryptosystem have moved the Merlin team to establish the Merlin community. They initiated and implemented strong set ideas to achieve this which include:
Creation of massive products across the crypto blockchains.
Creating and instituting measures to control the amount of MERL tokens in circulation.
Constant auditing cum checks and balances on the community activities to prevent fraudulent activities.
Instituting accessible blockchain products through user-centricity
MERLIN INTRO
Participants in the cryptosystem have been facing one problem or another in the operations of the system. These problems have limited the growth of both the users and the entire Defi system in general. Although many Defi platforms have been established to curb these problems, there are still some issues in the system.
These militating Defi issues moved some crypto enthusiasts from across the globe to establish the Merlin Defi platform. Merlin is a Defi platform that its operations are based on smart contracts built on blockchain in order to protect its values. It has developed unique product features that will help to optimize the financial status of its participants.
The management's target is in reducing gas fee, increased APY and optimization of yield farming at a reduced rate.
MERLIN LAB 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:
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.
Introduction of insurance policies.
Merlin management will 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 have 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.
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
MERLIN BUSINESS PLAN
Merlin community operates a yielding program whereby it accepts deposits from its users and re-stakes these deposits. Merlin stakes these funds as financial instruments in vaults. These vaults compound interests every 2-4 hours.
Proceeds from the vaults are used for rewarding the investors and also in the development of the community.
30% of the vault's collections are converted into MERL tokens used to compensate the investors in the form of LP generated by the Boosted Yield Convertor. This improves the earnings of its users.
The management has also introduced Cake vaults which have higher staking rewards. Users now have to choose where and how to stake their funds for better returns.
MERLIN LOTTERY
Merlin lotto is a program designed for the benefit of the Merlin community members. It operates as follows:
Users interested in the lottery program will purchase the lottery tickets with 0.2 MERL per ticket.
There is a limited number of tickets that can be purchased at a time (maximum of 50 tickets)
A 4 digit number ranging from 1 to 16 is printed on each ticket. The number must match accurately for its owner yo hit the jackpot winner of the lottery. There are consolation prizes for ticket(s) with 2 or 3 numbers that match the drawn winning numbers.
The lottery winning numbers are drawn every 24hours i.e one session per day.
CHECKING OF MERL AVAILABILITY
Presently, there is no stated quantity of MERL tokens that will be supplied to the Merlin project. Thus will implement measures to protect the community from vulnerable situations and maintain its value. Such measures are:
Burning of MERL tokens during unfavorable market conditions.
Acquiring MERL tokens and placing it in a lottery pot.
ROADMAP
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
Other measures will be disclosed by the teamother in the appropriate time.
QUESTIONS FREQUENTLY ASKED
What is the Merlin token?
The Merlin community has a native token known as MERL, which is utilized in all activities in its entire community. Holders of MERL are rewarded from the proceeds of the community and also play an active role in regulating the community.
Who is in the Merlin team?
The Merlin community is managed by experts in blockchain technology and also have strong zeal and experience in the crypto system. They don't fancy self exposure, rather they want their achievements in the platform to speak for them.
The Merlin team can only be reached through an official telegram channel at https://t.me/merlinlab. They can never ask for users' private information. Therefore, users are warned about fraudulent chats.
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 Information
Bitcointalk Usename : Chikpe
Bitcointalk Forum URL : https://bitcointalk.org/index.php?action=profile;u=2850826