Best Autocomponding Yield Farming Platform in 2021 — Merlin
In this very volatile cryptocurrency world, it becomes important to invest in the right place at right time and in the right amount.
When the market is as volatile as crypto there will be always a chance that the market will go down like the current market deep. In this type of situation, most people can't sell their cryptocurrency that's why it's become very important to put your cryptocurrency into yield farming.
staking and yield farming concept getting more and more popular in very short times because it can generate passive income from the crypto coins or token you have.
What is Yield farming? Yield farming also referred to as liquidity mining, is a way to generate rewards with cryptocurrency holdings. In simple terms, it means locking up cryptocurrencies and getting rewards
it became very important to find a good yield farming platform that is trustable and gives a good amount of interest rate.
before putting your Precious portfolio into some random platform you have to check the background and details of the platform Because there are always chances of scams and also hack in the crypto world.
let’s talk about what you should check? some points which person should aware of are — which Audit that platform has passed, project’s activity on social media groups, the background of the team who are working behind the platform, check that project actually provide a solution to users problem or not, participate in there AMA sessions for better understanding there views and motive in future, Community of and how many users that platform has, etc., Hope this will give you some ideas of how to check any platform.
le’s talk about which platform I am using for yield farming. I am currently Using the MerlinLab platform for staking. why? because they provide a great amount of interest for holding. they are one of the highest yield providers on the BSc network.
In Merlinlab For staking or providing liquidity on there, you get extra rewards in $Merl tokens just for adding to the liquidity pool. current $merl prize is around 20$.
they provide yield farming at the lowest possible cost and it is an auto compounding platform means when you gain coins or tokens from your staking interest then that interest automatically put into your staking pool again, by that reward itself gives you more reward.
ist, it an amazing concept?
why you should trust them? because they passed Hacken Security Audit which is a very renowned platform for Audit You can check the Audit result Here —Hacken Security Audit, Second they will not use any external smart contract, the platform has prepared an insurance policy to help users if any problem happens. From these points, we can guess that it's a reliable and trustworthy project.
talk about their activities on social media and interaction with the community. I personally check their activities on different social media. Merlin teams look very solid and hardworking and they are very engaging to its community. they provide solutions to very basic questions of users without avoiding them.
Different pools in MerlinLab
as you can see in the picture there are so many pools in Merlilab platform
Merlin pool is based on the performance fee collected in the other vaults and redistributed to MERL holders.
The first two pools are for only in Merlin that you can get a reward in WBNB, ETH, BTCB.
Magical Merlin Pool was purely funded by the Development team.
after that, you can see the different pools in different pairs. in that, you get rewards in that respected manners. they also have a CAKE Maximizer pool. CAKE Maximizer vaults help users maximize CAKE tokens.
First, two merlin pools have the highest APR compare to others so if you have merl you should put it into that pool and you will get good rewards.
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. Merlin exists to increase the freedom, accessibility of its users.
it is a network that constantly developing new features for its users.
they recently released the Merlin Lottery feature on their website. they gave away $10,000 USD over the past days through Merlin Magical Lottery.
Merlin Lab is listed on GrowingFi, scv_finance, and CryptoRank_io because of that it will become easy to Track investments and place price alerts via CryptoRank.
I think MerlinLab is a very ambitious project back by a great team and I am very looking forward to how it will grow and put a mark in the staking and yield farming industry.
thank you for your time :)
Project reference:
Site: https://merlinlab.com
Reddit: https://www.reddit.com/r/MerlinLab/
Telegram Announcement: https://t.me/merlinannouncements
Telegram Community: https://t.me/merlinlab
Twitter: https://twitter.com/Merlinlab