Mercurial Finance (MER) is building DeFi’s first dynamic vaults for stable assets, providing the technical tools for users to easily deposit and mint stable assets, generating liquidity for their own requirements or offering them to ecosystem participants with such demands. What is Mercurial Finance (MER) | What is Mercurial Finance token | What is MER token
In this article, we'll discuss information about the Mercurial Finance project and MER token
Mercurial is building DeFi’s first dynamic vaults for stable assets, providing the technical tools for users to easily deposit and mint stable assets, generating liquidity for their own requirements or offering them to ecosystem participants with such demands.
To optimize performance, assets will be dynamically used to facilitate a wide range of use cases, from low slippage swaps, lending, flash loans and external third-party decentralized protocols. Key transactions like withdrawing and swapping in the same transaction are made possible thanks to the strong performance capabilities of Solana.
To further increase the availability of pegged assets in the Solana ecosystem, we will allow the creation of synthetics, like mUSD or mBTC. These assets can be added to our vaults to both improve liquidity for other stables, as well as ease the interaction with other third-party decentralized protocols.
We will be innovating on several key technical features, including on-chain algorithms to regulate the flow of assets, and dynamic fees that tap on the market and price data to assist LPs to optimize performance. We are developing a unique pricing curve that will be the first to combine high efficiency, multi-token support and generalizability for all types of token sets.
For our roadmap, we will start with a vault for USDC, USDT, wUSDC, and wDAI, facilitating low slippage swaps with dynamic fees. As key technical and ecosystem pieces (like inter-program composability and price oracles) become available on Solana, features will be added accordingly. Furthermore, a beta on Solana testnet will be deployed along with a lite paper containing key technical and system details next week.
The DeFi ecosystem on Solana is evolving at an extremely fast pace, with stablecoins of primary importance. We believe that a dynamic system such as Mercurial will be able to provide a robust platform for users to easily get liquidity for channeling towards the most productive channels.
Mercurial is built on Solana due to strong product possibilities on the high-performance blockchain and the growth potential of the ecosystem. Not to mention, the active support of key players in the ecosystem.
Technically, we are able to build more sophisticated systems, including supporting multiple complex actions in a single transaction and having on-chain algorithms that execute based on on-chain logic while performing operational roles like interest collection with high frequency.
Ecosystem-wise, we believe that Solana is one of the most exciting ecosystems to be in right now, with plenty of potential to eventually become a DeFi ecosystem on the scale of the other prominent blockchains.
We have been extremely impressed by the core Solana architecture, as well as the technical support provided by the core engineers at Solana. Additionally, we aim to contribute to the developer ecosystem as well, in terms of education and adoption.
We are excited to share that we have received funding from a range of the most active ecosystem players, including Alameda Research, Solana Ecosystem Fund, OKEx, and Huobi.
“Very happy to support the addition of Mercurial Protocol to the Solana Ecosystem.
Their dynamic vaults for stable assets will maximize capital utilization, making it possible for a single pool to support lending, liquidity mining and low slippage swaps. This will greatly improve utility for users and overall liquidity for the ecosystem.
Robust liquidity for stable and pegged assets is crucial for any growing ecosystem, and Mercurial will accelerate the growth of these asset classes on Solana.
The strong technical, research and operational competency of the team is testament to the attractiveness of Solana. We look forward to collaborating with them to improve liquidity and availability of stables on Solana.”
- Sam Bankman-Fried, CEO, Alameda Research and FTX
Other strategic investors include Edward Moncada, Founder of Blockfolio, TM Lee and Bobby Ong from Coingecko, Alex Svanevik from Nansen, Mervyn and Michael from Unagii, Jonathan Chu — Head of Product Blockfolio, Darren Lau, and others.
We look forward to collaborating with them to achieve our aim of being the best venue for stable asset swaps and deposits on Solana.
“The Mercurial team has years of technical and strategic expertise building successful blockchain applications. We are looking forward to seeing their DeFi platforms for stable assets unlock new opportunities for Solana users and ecosystem projects.”
Anatoly Yakovenko, President of the Solana Foundation
In addition, we will be launching our IEO on FTX on May 13. There will be more news in the coming weeks, including key technical details, user guides, and IEO details.
Mercurial will be collaborating with Kyber Network, one of the most well-known projects in the Ethereum community, on technical research, development, and marketing. Loi Luu, co-founder of Kyber, will also be joining Mercurial as a co-founding adviser.
Being one of the most established communities with widely held tokens (100K+ unique addresses), Kyber will help to drive awareness and adoption amongst Ethereum users and developers.
A strong community forms the heart of every blockchain project and Mercurial is no exception.
We will work together with the MER community to drive awareness through partnerships and collaborations, along with continuous engagement and education via blog posts, telegram and Twitter conversations.
We welcome community leaders, developers, and content creators to join us in this journey. Over the next couple of weeks, we will be dropping more information about the Mercurial system, technical design, IEO, and launch timeline.
You will have to first buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Binance (BNB)...
We will use Binance Exchange here as it is one of the largest crypto exchanges that accept fiat deposits.
Binance is a popular cryptocurrency exchange which was started in China but then moved their headquarters to the crypto-friendly Island of Malta in the EU. Binance is popular for its crypto to crypto exchange services. Binance exploded onto the scene in the mania of 2017 and has since gone on to become the top crypto exchange in the world.
Once you finished the KYC process. You will be asked to add a payment method. Here you can either choose to provide a credit/debit card or use a bank transfer, and buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Binance (BNB)...
Step by Step Guide : What is Binance | How to Create an account on Binance (Updated 2021)
Next step - Transfer your cryptos to an Altcoin Exchange
Once finished you will then need to make a BTC/ETH/USDT/BNB deposit to the exchange from Binance depending on the available market pairs. After the deposit is confirmed you may then purchase MER from the exchange FTX on May 13
There are a few popular crypto exchanges where they have decent daily trading volumes and a huge user base. This will ensure you will be able to sell your coins at any time and the fees will usually be lower. It is suggested that you also register on these exchanges since once MER gets listed there it will attract a large amount of trading volumes from the users there, that means you will be having some great trading opportunities!
Top exchanges for token-coin trading. Follow instructions and make unlimited money
Find more information MER
🔺DISCLAIMER: The Information in the post isn't financial advice, is intended FOR GENERAL INFORMATION PURPOSES ONLY. Trading Cryptocurrency is VERY risky. Make sure you understand these risks and that you are responsible for what you do with your money.
🔥 If you're a beginner. I believe the article below will be useful to you
I hope this post will help you. Don't forget to leave a like, comment and sharing it with others. Thank you!
Can I write on a Bitcoin Blockchain? Can I drop down a message? Yes, Luca of course you can! You can leave a message on a Bitcoin blockchain using a particular op code, called OP_RETURN.
In all the market sectors, Blockchain technology has contributed to the redesign. The improvements that were once impossible have been pushed forward. Blockchain is one of the leading innovations with the ability to influence the various sectors...
Our Blockchain Online Training will provide you to learn about Blockchain technology aspects with realty. Our Blockchain Course also includes live sessions, live Projects
Get hands on experinece on block chain live industry experts with real world example at Block chain online Training. Enroll for free demo
Blockchain Council is a group of Blockchain experts offering Online Blockchain Certifications and Training to Blockchain enthusiasts all over the globe. Join us today!