MerlinLab: Security Upgrades

About

Ecosystem

  • 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
Merlin Ecosystem Flowchart

Security Upgrades

  • Smart contracts: Flash loans require the use of smart contracts which will allow funds to change hands when certain rules are met
  • Unsecured loan: This lack of collateral doesn’t mean the flash loan lender will not get its money back. It’s just sent back in a different way. Instead of offering collateral, the borrower needs to pay back the money right away, which brings us to our next point.
  • Instant: Flash loans are instantaneous. The smart contract of the loan must be fulfilled in the same transaction that is lent out
  • Price manipulation: A common method of flash loan exploits is through Price Oracle Attacks or Price Manipulation, which gives attackers an opportunity to bag profits through arbitrage
  1. Implementation of Fair LP Price calculation (by Alpha Homora) and the use of Fair Asset Price via Decentralized Price Oracle — Chainlink. The combination of fair asset price and fiar asset reserves enables Merlin to derive the fair LP token price that is unmanipulatable and safe from attack vectors such as flash loan attacks.
  2. Prevention of external smart contract interaction with Merlin smart contracts. Flash loan attacks are executed through smart contracts. Merlin has now implemented a stop on all external smart contracts to interact with Merlin’s contract. This means we have mitigated the risk of any flash loan attack within our protocol.

Token

Roadmap

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

Conclusion

Author

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I always believed that someday me and she would be back together. I’m miss her so much. ‘’ H ‘’

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Oen Soem

Oen Soem

I always believed that someday me and she would be back together. I’m miss her so much. ‘’ H ‘’

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