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 increases 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 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.
Merlin 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 BUSINESS SYSTEM
The Merlin ecosystem receives asset deposits from its investors and places the same as 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. 30% of the proceeds realised from these vaults are used to reward the investors and the remaining is applied towards the development of the community.
Merlin uses it to compound its users' assets, with the compounding time ranging from every 2-4 hours.
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 times 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:
Acquisition 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 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.
Introduction 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.
Banning 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 OF MERL TOKENS
There is no stipulated quantity of MERL tokens that will be provided for the project by the team of Merlin. This might have some effects on the market worth of the ecosystem during volatile market conditions. Nevertheless, there are some measures put in place to control and reduce the tokens available in the community, so as to protect its value. Such include:
Lottery
The management will use 50% of the community proceeds to buy MERL and place it in a lottery pot.
Burning
During volatile market conditions, 50% of community proceeds will be used to buy back MERL, so as to stabilize its value.
Other mechanisms that will be initiated to control MERL supply will be disclosed by the management whenever the need occurs.
MERLIN LOTTO
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.
FREQUENTLY ASKED QUESTIONS
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
ROADMAP
These are sets of processes involved in establishing the Merlin platform.
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 2021
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 team through appropriate channels.
USEFUL 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
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