Review Merlin Lab: High APY auto-compounding yield aggregator on BSC. Stake $MERL to earn BTCB, ETH, BNB.

6 min readJun 15, 2021

High APY auto-compounding yield aggregator on BSC. Stake $MERL to earn BTCB, ETH, BNB.

Introduce

Currently, blockchain technology is rapidly developing to help business models and projects take advantage of decentralization and data security to build and thrive on a distributed ecosystem. However, with some blockchain platforms such as Ethereum, too many projects are built on top of it, resulting in limitations in the processing of transaction speed and user accessibility. These shortcomings in data processing speed require a new technology solution that integrates blockchain features while optimizing features to increase processing speed and protect data for projects and models business when wanting to develop on a blockchain platform. Until mid of March 2021, a total of over 42 billion US dollars have been locked in many Defi protocols. Cryptocurrency and Decentralized Finance (DeFi) offer a way to start with a new system, circumventing the difficulties faced in changing the finance industry. While crypto has attracted billions in investments, decentralized financial services are lagging. When it comes to investment in cryptocurrency, crypto investors can buy and sell, but that’s it. The cryptocurrency itself cannot be invested in the same way fiat currency can be. Initial attempts to create peer-to-peer lending and asset tokenization so far have proven partial and unreliable, so investors have extremely limited options when it comes to an investment of their crypto assets. The potential is enormous to provide financial services in crypto, the same way they are offered in fiat currency.

About

Merlin or MERL Token was developed to maximize profits when the trend of liquidity pools is blooming in the cryptocurrency market and is increasingly popular with a large number of crypto users.

What is MERL Token?
MERL Token is the token of the Merlin Lab Blockchain project, Merlin is an automatic tool that combines profits (generating double profits) with an optimized ecosystem to maximize profits safely and sustainably. Merlin undertakes monitoring from gas fees, APY tracking, optimal profit strategies to security, all to maximize farming productivity for DeFi users at the lowest possible cost (All APYs) & APR shown are inclusive of fees).

The development of decentralized finance (DeFi) has increased significantly in the cryptocurrency sector. Despite the explosion of DeFi products on Binance Smart Chain (BSC), none of the farming projects really support users. Merl token combines the functions of rate optimization, conveying the full functionality of a DeFi platform.

A profit aggregator that helps you combine your assets automatically .
An ecosystem that helps you optimize your profit margin (like BTCB, ETH, BNB, CAKE, etc.) by Staking MERL tokens.

MERL Token

Currently, MERL tokens do not have a maximum total supply due to the need to distribute tokens to meet the utility of the DeFi product suite, these Defi products are in the development roadmap.‌ MERL tokens are generated in proportion to the amount of BNB earned on the platform.‌ Many inflation reduction mechanisms are applied to create continuous price pressure (Coming soon):

Merl Token has 24h TimeLocks Smart contracts are an advanced way for cryptocurrencies to interact with each other and with dApps (distributed applications). Merlin has eliminated the risk by adding 24h time-locks to all smart contracts on the MERL token and has reputable censorship for the entire project.‌ Time lock is a security feature implemented on smart contracts to protect users from changes they do not support. Timelocks is that a period of time is required before any changes can be made.

Merlin has implemented Timelocks on all vaults and has the following functionalities:‌
1. If developers want to change their investment strategy, they must first implement a new strategy for blockchain.
2. Next, they have to “announce” the strategy change, they have to issue a web3 event that can be read by the bot chain watching programs.
3. Users have a specific time period (currently 12 hours) to test new contracts and withdraw money if they don’t want to participate.
4. Whenever after the specified time period, the implementer can choose to accept or reject the change of strategy.

The main function of Timelocks is to protect investors from malicious strategies that want to steal their money.

Ecosystem

Summary

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 30% of their auto-compounding vault rewards with $MERL tokens, which will maximize users’ yield:

As the $MERL token appreciates, the users’ yield in turn increases
User can further stake their $MERL rewards to farm BTCB, ETH, BNB, CAKE rewards & more at high APYs

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 (This is our launch emission rate, it will be decreased overtime to balance $MERL supply)

Every 100 $MERL minted, 13 $MERL will be used to expand the Merlin product suites and global marketing activities.

Roadmap

Q1 2021
Complete DeFi model formation
Complete Risk assessment model formation
Complete strategic round raising
Additional core developers hires
Brand identity
UI/UX design of the Merlin website

Q2 2021
Run prelaunch marketing activities such as Airdrop campaign and ambassador campaigns
Complete development of Merlin smart contracts
Complete development of Zap feature
Deploy testnet for prelaunch checks
Engage with audit firm — Hacken Cybersecurity
Engage with audit firms — Certik and Haechi [Audit in progress]
Complete audit with Hacken Cybersecurity
Complete audit with Certik and Peckshield
Deploy and amplify marketing activities
Launch Merlin Bounty Rewards Program
Engage with CEX’s for listing
Complete public presale on Bounce
Launch mainnet
Enable more wallet integration (TrustWallet, MathWallet, Binance Chain Wallet, WalletConnect)
Launch multi-language website
Finalise UI/UX for Lottery

Q3 2021
Complete development of lottery
Launch lottery

…update

Conclusion

With the content that I have shared, hopefully you will have more relevant information about https://www.merlinlab.com, but the point that I give about the project is purely my own and I also hope that the project will be able to go. according to the goals they have set. I also strongly believe in what the project has mentioned, the proof of exchanges and the amount of money they gained through the token sale are what is most specific they have achieved with the project. What they need to do is develop and deliver products to people soon. And that’s for sure, the support from the community of lovers and interested will always accompany to support the project.

For details about the project, you can use the links: