MerlinLab - An Auto-Compounding Yield Aggregator

 


Overview:

Defi is a term given to financial services that have no central authority or someone in charge. Using decentralized money like certain cryptocurrencies that can be programmed for automated activities, we can build exchanges, lending services, insurance companies, and other organizations that don't have an owner and control by anyone.

These Decentralized finance systems use protocols, cryptocurrencies, and smart contracts to build the application (dapps) on Ethereum and Binance smart chain which are open to all. The traditional finance system is centralized, opaque, and dependent on few entities of the system while the purpose of Defi is to create a financial ecosystem that is opposite to centralized finance in terms of open source, permissionless, transparent, and without any central authority. In Defi, users can control their own assets and manage them for high returns interacting with Dapps.

What Is Yield Farming in Decentralized Finance

Yield farming is a way to make more crypto with your crypto. It involves you lending your funds to others through the magic of computer programs called smart contracts. In return for your service, you earn fees in the form of crypto.

Yield farming also referred to as liquidity mining, is a way to generate rewards with cryptocurrency holdings. In simple terms, it means locking up cryptocurrencies and getting rewards.

What is a liquidity pool? It’s basically a smart contract that contains funds. In return for providing liquidity to the pool, LPs get a reward. That reward may come from fees generated by the underlying DeFi platform, or some other source.

Yield farmers will typically move their funds around quite a lot between different protocols in search of high yields. As a result, DeFi platforms may also provide other economic incentives to attract more capital to their platform. Just like on centralized exchanges, liquidity tends to attract more liquidity.


What is Merlin?

Merlin is an auto-compounding yield aggregator with an ecosystem optimized to focus on safe and sustainable maximum yield return. Merlin combines yield maximization with functionality, delivering an all-encompassing DeFi platform. Merlin takes care of gas costs, APY tracking, optimal yield strategies, security with the goal of maximizing DeFi users' yield farming at the lowest possible cost.

Mission of Merlin

Merlin exists to increase freedom, accessibility, and asset sovereignty for everyone in the digital economy.

Goal of Merlin

  1. Establish a comprehensive suite of products not only within BSC but across all chains
  2. Increase the value in MERL tokens by developing complementary product features that will expand the token utility and adding ongoing deflationary mechanisms that will control token supply
  3. Optimize protocol security and robustness through audits, multisignature scheme, and periodic security updates
  4. Create accessible blockchain products through user-centricity and relentless improvement

Why Merlin?

Merlin combines yield maximization with functionality, delivering an all-encompassing DeFi platform.

Benefits of Merlin

  1. A yield aggregator that helps you auto-compound your assets
  2. An ecosystem that helps your earn more key cryptocurrencies (aka. BTCB, ETH, BNB, CAKE, etc.) by staking $MERL

What is the Merlin token?

MERL Token is our native governance token. MERL holders govern our ecosystem and receive a distribution of overall fees.

$MERL is minted via Merlin smart contracts. For every 1 BNB distributed in the MERL reward vault, 25 MERL are minted and distributed.

$MERL does not have a maximum supply due to the need for a wide distribution of tokens to accommodate for utility within the range of DeFi product suites planned within the upcoming development roadmap.

  • $MERL tokens are minted in proportion to BNB earned on the platform.
  • Buyback & Burn: 50% of the Burn contribution is used to perform market buy-backs of $MERL tokens to stabilize price during market volatility
  • Lottery: 50% of the Burn contribution will be used to purchase $MERL and injected into the lottery pot. 20% of the pot is burnt
  • Further deflationary mechanics will be introduced for $MERL ecosystem to become deflationary

Token utility

  • Earn key cryptocurrencies (aka. BTCB, ETH, BNB, CAKE & more to come) rewards when staked in MERL pool
  • Governance
  • Win more $MELR via MERL lottery
  • Receive rewards from cross-chain vaults

How Merlin Works?

  • The Merlin ecosystem begins with the Vaults. As users stake in the Merlin vaults, our algorithm optimized auto-compounding mechanism will compound users' assets for maximum return
  • The vaults rewards will be in the form of LP rewards and $MERL. The $MERL portion of the reward is generated by the Boosted Yield Convertor
  • Boosted Yield Convertor maximizes user's profits by converting 50% of their auto-compounding vault rewards with $MERL tokens, which will maximize users' yield:
  • The collected Boosted Yield Convertor will be converted into BNBs and redistributed as MERL pool rewards at $MERL LP Treasury
  • For every 1 BNB converted through the Boosted Yield Convertor, 25 $MERL are minted
  • Every 100 $MERL minted, 13 $MERL will be used to expand the Merlin product suites and global marketing activities

Merlin vaults

Vaults are automated investment instruments that utilize optimal strategies to maximize yield. Merlin uses vaults to automatically reinvest and compound deposited assets. Vaults comprise either a single token or a pair of tokens that are invested into liquidity pools.

  • Each Merlin vault compounds at the most optimal time according to empirical data. This usually ranges between a compound every 2-4 hours.
  • Compounding yourself is an inefficient process in which it is difficult to manage the optimal compounding frequency resulting in lower yields. Merlin save you time and gas fees.

Merlin Security & Audits

Merlin is created and managed by a team of experienced blockchain, technology and cybersecurity experts.

As part of Merlin's unwavering commitment to providing a safe platform for our users, Merlin has commissioned 3 audits from reputable blockchain security audit firms. Merlin's first completed audit from Hacken Cybersecurity has passed with flying colors.

  • Hacken Cybersecurity - Complete ✅
  • Certik - In Progress
  • Haechi Labs - In Progress

Conclusion:

As Merlin looks to continuously grow and develop the DeFi ecosystem, the security and correctness of smart contracts and blockchain-based protocols will remain front and center. Merlin commits to undergoing additional security audits with every new major product release to ensure the integrity of smart contract code and the security of users.

Read More Here:

Website: https://www.merlinlab.com

Telegram Announcement: https://t.me/merlinannouncements

Telegram Community: https://t.me/merlinlab

Twitter: https://twitter.com/Merlinlab

Reddit: https://reddit.com/r/MerlinLab

Medium: https://merlinlab.medium.com/

Proof of Author:


Telegram Username: @Superindian47

Twitter Username: https://twitter.com/SagarM712

Wallet Address: 0x9138d2a99b47fF2A98927fEBF620C622939a6E66

Email: kkdigitals07@gmail.com

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