Singapore, 18 June 2021, ZEXPRWIRE, Cryptocurrency is the talk of the decade. Some say it is the equivalent to computers spurring an age of information and innovation. Others are skeptical of change and fear the future that is actively being shaped by blockchain technology. Individuals from all classes and regions are running to be a part of the cryptocurrency space.
What is the object of interest?
Blockchain technology enables creators and businesses to operate on an entirely different foundation. At its base is a decentralized unit, one of the first peer-to-peer payment systems we call cryptocurrencies. Satoshi Nakamoto’s dream for liberty from centralized banks gave birth to Bitcoin. This flame alit spread to all corners of the known markets. The most recent market to be bit by the blockchain bug being DeFi.
Seeking to cut out financial institutions and intermediaries, DeFi (decentralized finance) executes all financial services over the blockchain, an immutable and transparent space. It is secured with smart contracts that act as an agreement between parties. These are etched into blockchain as code, and thus have no central authority.
Where can you get started?
According to an investor “Among some painful stumbles and a few rocky roads, I finally discovered Merlin Lab. In recent news many of my investments in yield farms have been hit by flash loan attacks, in despair I moved my holdings to $MERL. I bought this native token of the Merlin Lab Ecosystem through their presale. I was one of the lucky few that was quick enough to purchase $MERL in this event, as they impressively completed their goal in under 5 minutes. With my newly acquired $MERL I was one of the first adopters of Merlin Lab and began earning at a staggering rate unlike previous platforms I was accustomed to. The best part? Merlin Lab makes it easy. Easy enough that even your grandparents could overcome the steep learning curve of DeFi.”
What is Merlin Lab?
Merlin Lab’s yield farming platform attracted $100 Million USD within 4 days of its launch at the end of May 2021. Merlin lab wants to build an easy to use platform. Merlin lab allows users to deposit in a myriad of pools and automatically compound their investments to find best yields.
For example, holders of CAKE can use the CAKE maximizer vaults which allows users to get the most out of their CAKE tokens. Merlin lab stakes the rewards that come from the original staked principle into the CAKE auto-compounding pool in a CAKE maximizer vault. According to results, Merlin Lab’s CAKE APY reaches a high of 300% compared to the market average of 141% APY.
Merlin Lab has 25+ pools and is actively adding new ones. Even during unstable market conditions, Merlin Lab provides stable coins with an interest of 35% APY compared to the 1-0.05% of traditional banks. You can stake $MERL and let Merlin lab automatically invest the funds. According to results, the benefit from APY is as high as 580% and you can claim rewards in BTCB, ETH, and BNB.
Safety and Security with Merlin Lab
As part of Merlin Labs’ commitment to providing a secure network for consumers, the company commissioned three audits.
To protect the users and their funds, Merlin Lab has also implemented some of the same technology as the industry leaders, utilizing Chainlink for Fair LP Price calculations. This ensures that $MERL is safe from attack vectors such as flash loan attacks.
The road ahead for Merlin Lab
Merlin Lab looks to build deflationary mechanisms to ensure token economic stability and adding cross chain integration capabilities to expand its network. Currently MERL tokens are available to purchase on PancakeSwap on the BSC chain. However, CEX applications are also in the process. In the long run, Merlin lab’s product vision is to create a suite of integrated DeFi products that will complement each other and strengthen the Merlin lab ecosystem.
According to a team member “Merlin labs’ mission is to become the super crypto platform, providing all in one crypto services within one ecosystem”. They have now introduced their NFT marketplace and will look to introduce more products such as analytics tools, blockchain games and cross chain capabilities.
It looks like Merlin Lab is going to have exciting times ahead as it strives to help more users earn passive income, and most importantly, earn us some of that deliciously looking $MERL.
Merlin Lab website: https://merlinlab.com/farm