Actualizing the motive of Defi users through APY tracking and reduced gas fees.
By: Ikechi Ihewu
Tags: Merl, Yieldfarming, Bnb, Crypto, Defi

Actualizing the motive of Defi users through APY tracking and reduced gas fees.

INTRODUCTION

The Defi platform being created recently has failed to correct the challenges faced by its users in maximizing their assets. This moved the Merlin team to establish the Merlin ecosystem, with the obligation of optimizing the wealth of its users through the establishment of unique features to actualize the best yield return 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.

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.

The Merlin community is governed by experts with resounding experience in cryptosystem who will employ their experience in the achievement of the company objectives.

There is an established automated system that harnesses the yields of popular token assets such as BTCB, BNB, ETH, CAKE, etc. The team has built an economic system with unique features that will help users to earn more cryptocurrencies.

MERL tokens can be bought at pancakeswap with BNB balances on binance on MetaMask wallet or traded with other tokens.

MERLIN BUSINESS MODEL

Merlin accepts deposits of token assets for interest from its community members. These assets are placed as financial instruments in vaults. The vault earnings compound at an interval of 2-4 hours.

30% of the earnings from this vault is converted into MERL tokens which is used to reward the token depositors

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 operations of the Merlin community are based on smart contracts built on blockchain techniques. These contracts need to be secured from hackers to ensure the stability and growth of the values of the community.

Merlin adopts a time-locking technique on its smart contracts. There is a set time allowed in smart contracts, after which it locks. Also the transactions on the platform are audited regularly by a notable auditing firm, in order to promote equity and fair transactions.

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 LAB'S UPGRADED SECURITY STRATEGY

The Merlin community has some measures implemented in the system lab to protect it from attacks. Such include:

Prevention of external Smart contract interaction

Merlin does not allow its smart contracts to be combined with other foreign smart contracts. This measure is used to check, control and limit fake loan attacks and hackers from the platform.

Introduction of insurance policies.

Insurance policies will be used to cover Merlin smart contracts against system failure of the contracts. The Merlin management has concluded an arrangement with Sotera to provide the insurance services.

Implementation of Fair LP Price calculation

Merlin will regularly compare the prize of its token with fair assets reserve prizes. This will help to establish a fair LP token price that is safe from attacks and cannot be manipulated

Constant and routine checks will be conducted on the community transactions and smart contracts to ensure its security and improve its standard.

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.

MERLIN LOTTO

Merlin management will launch a lotto platform in the community to help in improving the socio-economic conditions of its users.

Members who wish to participate in the lottery program will purchase the lottery ticket with 0.2 MERL. A maximum of 50 tickets can be purchased at a time.

Each ticket has a 4 digit number inscribed on it. The 4 numbers on the ticket must match exactly with the drawn number for the user to hit the jackpot. Tickets with 2 or 3 matching numbers can also win prizes from the lottery.

The winning ratio is as follows:

50% of the lottery pot is won by the ticket with the correct matching 4 digits. Thus, it can be split if there is more than one matching ticket.

20% of the pot is won by the ticket(s) with 3 matching numbers.

10% of the pot is won by ticket(s) with 2 matching numbers.

The remaining 20% of the pot is burnt.

The lottery tickets are drawn randomly, the lottery circle runs for 24 hours, i.e once daily.

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