Our vision for Merlin in Arbitrum
Hello everyone,
This is our first publication on medium and we want to tell you our vision of Merlin and what we want it to be.
This is the chart of Merlin https://dexscreener.com/arbitrum/0x056dd3a3ad8c35b1e9134f7ce3fa1786119d5f26
The first thing you need to be clear about is that Merlin is a project for the community, and therefore the community is the most important thing. Why? Because all the benefits of Merlin go directly to the community in form of magic rewards.
We as developers will help focus the movement of the community, but the community has to be the one who takes the reins.
What is Merlin?
Merlin is the first project in Arbitrum that mixes reflation and yield farming rewards for its holders, mixing passive income in the short, medium and long term… and we will build some utility on top of that.
How works our tax system?
Our tax are 5% buy and 5% sell.
The reflections are the immediate reward, and are dependent on the transactional volume of the token.
2.5% of each transaction is converted into magic and distributed to Merlin holders. The more merlin you have, the more rewards you get.
The yield farming are the passive rewards for the medium and long term.
2.5% of each transaction is converted into an investment fund based on yield farming and currently focused on magic-eth, which currently gives us between 50 and 100% apr. The rewards of this yield farming are constant and are distributed to the holders in form of magic
At this moment we distribute more than 6400 $magic in reflections and have 3200$ in the magic-eth yield farming. You can see in our dashboard.
Our vision for Merlin
First of all, we chose Arbitrum because we love the network. It’s fast, stable and with low fees… it’s basically what we all want Ethereum to be.
We chose the name Merlin because it can be used as a meme with other Arbitrum tokens such as Magic and Camelot… and also Merlin will always be sending Magic to your wallet.
The idea of yield farming is to create sustainable rewards over time. Let’s imagine that the investment fund reaches 20k $, this would generate constant rewards to the holders and would give an own value to the token since it would be backed by some funds and would reach a price that would compensate more hold the token than selling only for the rewards.
As we said at the beginning, it is a community-centric token so the idea is that the community will decide where these funds go.
This concept is very similar to a DAO, and we believe that this is Merlin’s path, to become a DAO that manages funds, and these funds will revert in rewards for the community.
To increase the community funds we need more buying pressure and for that we are going to build a utility around the token.
We have several ideas in mind for different utilities and we will present them to the community to decide which one will be the most convenient.
But first of all, we need to create a strong foundation in our community… do you want to join while receiving magic rewards?
Join in our telegram: https://t.me/merlin_arbitrum
Twitter: https://twitter.com/merlin_arbitrum
Website: https://merlinmagic.finance
