🛣️Platform Feature Guides
Starter Mage ToolBox
Trade
Exchange (swap)
Merlin users can swap any token present in our DEX through the exchange tab in a fast, low cost and effecient manner. All swaps incur a nominal fee that is paid out to liquidity providers that enable the swapping process.
i.e. a user only has ETH in their wallet but wishes to acquire another token, such as MAGE, USDC, MUTE or others.
Liquidity
Adding Liquidity By adding liquidity to pools on Merlin you will receive LP tokens. You will also receive trading fees from all trades that occur on the pair that you have provided liquidity for.
To earn Additional Farming Emissions you must also create a 'Position', this action can be carried out before adding LP. You may find out more about this and NFM's HERE
i.e. ETH/USDC LP tokens will be provided in receipt if ETH/USDC liquidity is added. Your share of the ETH/USDC liquidity pool is represented by the LP tokens you receive. Whilst providing liquidity to ETH/USDC pair, your LP token will earn a portion of every transaction fee. Moreover, you can wrap that LP token into a staked position (NFM) to access compound utility and rewards.
Removing Liquidity
The removal of your liquidity allows you to request the withdrawal of your funds from any pool or pairing you have committed to.
i.e. if a user wants to withdraw liquidity and swap the tokens they initially used to form a LP, you must action this by the remove function.
Creating your first Position & Non-Fungible-Magic (NFM)
The Earn tab is divided into four sub-groups, each holding a unique functionality.
My positions - Here you can find and manage your open NFM Staked Positions
Yield farms - This section shows which pairs are currently incentivized by Merlin or Partner Projects
Cauldron Pools - Deposit your staked positions into a compatible Cauldron pool and earn additional compounded rewards
Core Farming Pools (CFP's) - Merlin liquidity will be bootstrapped through or CFP offering event allowing early participants to accrue stMAGE rewards.
On either ''My positions or Yield farms'' tabs, it is possible to wrap LP or a single asset into a NFM staked position
By creating a staked position, you automatically earn LP swap fees and farm incentives, which can be boosted with locks and stMAGE yield boosters.
You may then choose to deposit into Merlin's Cauldrons to earn additional rewards. As a result, your resulting position would earn swap fees + farming emissions (which can be boosted) + Cauldron Rewards.
Earn
Positions & Farms
Only yield-bearing positions are incentivized (the ones that have 'farms' on the user interface). However, anyone can leverage their NFM's, and for instance, directly incentivize liquidity through Cauldron Pools.
Creating Staked NFM Positions Cont.
A staked NFM position (NFM's) can be created on the 'liquidity', 'my positions', as well as the 'yield farms' tabs after selecting the active yield farm.
Through the liquidity tab, you can directly wrap tokens into a NFM Position
From the 'My positions' and 'Yield farms' tabs, you can wrap LP tokens or single assets into staked position NFM's
Your NFM represents a portion of the pool owned by the user and grants him the right to utilize it within the Merlin Platform. By creating your NFM and Position you unlock many options that greatly increase yield earning potential in comparison to basic farms.
Example of NFM Position on Merlin:
User creates a staked position ETH/USDC (There is an active farm for ETH/USDC) your NFM position in this instance will have dual yield-bearing benefits, upon depositing staked position to a Cauldron.
Cauldron Pools
Overview of Cauldron's
Cauldron Pools can be created for LP tokens or single assets, making them flexible and intuitive on the Merlin Platform. Ecosystem participating projects can generate higher returns for their emissions, while communities can be rewarded when they provide liquidity on a longer-term basis. Effectively, our Cauldrons provide a permission-less vehicle of distributing incentives to their pools with custom parameters such as:
Minimum amount commit
Minimum lock period
Lock end date
Whitelist provision
Customized (external helper contract) - allowing projects to develop layered logic onto their Cauldron Pool
Creating a Cauldron Pool
It is possible for any ecosystem user or partnering project to set up their own Cauldron Pool for the purpose of incentivizing liquidity.
i.e. Your project wishes to provide rewards to its liquidity on Merlin may decide to use our Cauldrons for users that locked their deposits for (x) months or deposited (x) amount.
stMAGE, a Mage's Access to True Yield
Utilizing the stMAGE tab to Compound Rewards
Convert MAGE to stMAGE
Redeem stMAGE for MAGE
Allocate stMAGE to dividends, harvest rewards and deallocate stMAGE from dividends
Yield boost for staked positions
Launchpad
A Detailed Overview of LGE's on Merlin's Launchpad
the Merlin Launchpad incorporates several key successful Token Liquidity Generation methodologies and economic reward streams to provide a novel launching mechanism for partnering projects. Allowing for inclusivity, flexibility and accesibility for both Founders & Investors.
Utilization of Fair launch Methodology
The Merlin fair launch auction model, in other fields known as a Dutch-Auction is designed to create a fair and level playing field for all participants. Whilst allowing Projects to generate sufficient liquidity and valuations for the current state of their project. Regardless of the timing or amount of their investment, all participants will always receive an amount of tokens worth the same value as their contribution*
How Token Valuation/Pricing is determined?
Working Example: The Merlin LGE of project (XYZ) has a $5m FDV, and the minimum price for each token is established at $0.1. Once the auction raises the first $500k, the LGE price discovery phase begins. During this phase, the price of each token will increase continuously with every purchase made.
Price = Total $ raised / sale circullating supply
Access for stMAGE holders & Additional Benefits
The Merlin Launchpad offers unique opportunities to projects launching on our platform. These benefits can include white list spots, discounts, airdrops, and more. The specific advantages will be clarified in advance before each sale and allow different levels of participation depending on the amount of stMAGE a prospective participant holds in their wallet at a determined epoch before the sale commences.
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