Merlinlab- Auto-compounding yield aggregator with an ecosystem optimized to focus on safe and sustainable maximum yield return.

5 min readJun 15, 2021

Merlinlab

Blockchain technology is currently applied in a variety of fields, from logistics to technology, retail … Large enterprises and financial institutions are also gradually grasping and applying this technology.

Blockchain technology will make its benefits more accessible to securitization. Standardization will improve interoperability between. systems and market participants, but also reduce counterparty, operational and legal risks and regulations for block chain technology transactions. https://www.merlinlab.com is an auto-compounding yield aggregator with an ecosystem optimized to focus on safe and sustainable maximum yield return.

About

Merlin is an auto-compounding yield aggregator with an ecosystem optimized to focus on safe and sustainable maximum yield return.

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 (All APY & APRs displayed are inclusive of fees).

The rise of decentralized finance (DeFi) has been an incredible boon for the entire cryptocurrency sector. Despite the surge in DeFi products on Binance Smart Chain (BSC), there are no functional farming projects that truly facilitate users holistically. Merlin combines yield maximization with functionality, delivering an all-encompassing DeFi platform. Merlin recognize the exponential benefit in auto-compounding and the value in accumulating key cryptocurrencies (aka. BTCB, ETH, BNB, CAKE, etc.), so Merlin’ve built:

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

Features

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

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 of either a single token or a pair of tokens that are invested into liquidity pools. Compounding yourself is an inefficient process in which it is difficult to manage the optimal compounding frequency resulting in lower yields. We also save you time and gas fees.

Lotterty

Lottery Ticket Fee for 1 ticket: 0.2 Merlin (This may be adjusted over time depending on Merlin price). Single User Lottery Entry Limit: No overall limit, but only 50 can be bought each time. Paying for one ticket will give users a random 4 digit combination with each digit being between 1–14, e.g. “3–6–3–9”

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.‌

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.

Where can I buy MERL tokens?
MERL can be traded on Pancakeswap. You can buy MERL from the PancakeSwap MERL-BNB pool here: https://exchange.pancakeswap.finance/#/swap?outputCurrency=0xDA360309C59CB8C434b28A91b823344a96444278
Contract address of MERL token: 0xda360309c59cb8c434b28a91b823344a96444278

How to add Liquidity?
1. Go to https://exchange.pancakeswap.finance/#/pool
2. Click on “Add Liquidity”.
3. Connect wallet.
4. Select the 2 tokens that you want to add to liquidity.
5. Approve both of the tokens.
6. Confirm transaction in MetaMask.
7. Select “Supply”.
8. Select “Confirm Supply”.
9. Confirm transaction in MetaMask.

How to stake MERL tokens?
1. Go to merlinlab.com
2. Connect wallet.
3. Click on the “Staking” tab.
4. Approve $MERL tokens.
5. Confirm the transaction in MetaMask.
6. Select “Deposit”.
7. Select “Max”.
8. Select “Confirm”.
9. Confirm the transaction in MetaMask.

Roadmap

Q2/2021

Complete audit with Certik and Haechi
Implement Bounty Program for Merlin
Complete pre-sale on Bounce
Cryptocurrency wallet integration: Trust Wallet, MathWallet, Binance Chain Wallet, WalletConnect
Deployment of auto-compound vaults for BTCB, ETH, BNB
Mainnet Deployment

Q3/2021

Implement deflation mechanisms for MERL tokens, start burning coins
Implement lottery function chức
Cross-chain support
Listing on CEX

Conclusion

I think this is quite a potential project, and I also see that https://www.merlinlab.com is founding team owns and operates a successful crypto exchange, digital wallet and powerful blockchain. Hopefully, their experience with this market will help them build their projects to be strong.