# Welcome to MerlinSwap

MerlinSwap represents a groundbreaking advancement in decentralized exchange (DEX) platforms, constructed atop the Merlin Chain, a native Layer2 protocol of Bitcoin. This platform is engineered to deliver an experience akin to centralized exchanges (CEX) within the decentralized finance (DeFi) ecosystem. By leveraging the robustness of the Bitcoin ecosystem and the interoperability of the Merlin EVM, MerlinSwap sets new standards in trading efficiency, liquidity management, and user engagement in the DeFi sector.


# Introduction

MerlinSwap emerges as a vanguard in the DeFi space, synthesizing innovation, efficacy, and a commitment to user-centricity. Our integration with the Merlin Chain signals the commencement of an ambitious endeavor to revolutionize decentralized finance. MerlinSwap is dedicated to pioneering advancements in security, innovation, and community empowerment, thus establishing not merely a trading platform, but an entire ecosystem conducive to trading, investment, and growth in a secure, proficient, and user-friendly milieu.

MerlinSwap transcends the traditional concept of a marketplace, heralding a new epoch in DeFi, distinguished by sophisticated technological integration, seamless cross-chain interoperability, and an unwavering dedication to user satisfaction. We extend an invitation to traders, liquidity providers, and blockchain aficionados to join us in this exhilarating venture as we reshape the decentralized finance landscape and establish unprecedented standards for DEX capabilities.


# Vision

MerlinSwap's vision is to redefine the DeFi experience by presenting a platform that amalgamates the robustness of Bitcoin with the comprehensive functionalities of Ethereum, all accessible via Merlin. Our ambition is to evolve into the premier liquidity nexus within DeFi, enabling rapid transactions and minimal fees without sacrificing security or ease of use.


# Merlin Chain

At MerlinSwap's nucleus lies the Merlin Chain, a Bitcoin Layer 2 solution meticulously tailored for native assets, protocols, and products of Bitcoin Layer 1. Its architecture is designed to seamlessly bridge multiple Bitcoin Layer1 assets to Layer 2. Operating in tandem with the Bitcoin blockchain, the Merlin Chain maintains an optimal equilibrium between scalability and decentralization.


# MerlinSwap Protocol

The MerlinSwap protocol is underpinned by a commitment to innovation and user-centric design:

**Salient Features of MerlinSwap:**

1. **Revolutionary DL-AMM DEX:** Utilizes a state-of-the-art liquidity algorithm for rapid and efficient asset swaps, thereby enhancing capital efficiency and optimizing yields.
2. **Adaptive Liquidity Mining:** Offers both static and dynamic liquidity mining options, permitting users to implement dual incentives across any price spectrum, thereby minimizing unutilized liquidity.
3. **CEX-Grade User Experience:** Provides an interface that mirrors the efficiency and simplicity of centralized exchanges, adapted for a decentralized context.


# Product Features

MerlinSwap introduces groundbreaking product features, including:

**Limit Orders:** Echoing CEX order books, this feature empowers users to execute trades with heightened precision and control.

**Enhanced Gas-Efficiency in Trading:** Incorporates Merlin chain to curtail gas expenses, ensuring a more effective trading experience.

**User Experience Comparable to CEX:** An intuitive and familiar interface facilitates a seamless transition from centralized to decentralized trading platforms.


# Tokenomics

### Token Details

Name: MerlinSwap Token

Ticker: MP

Chain: Merlin

Total Supply (Max): 21,000,000,000 MP

MP contract address: 0xbd40c74cb5cf9f9252B3298230Cb916d80430bBa

esMP contract address: 0x7126bd63713A7212792B08FA2c39d39190A4cF5b

### **MP allocation**

<figure><img src="/files/e8rGeqfjhW3romEmcgig" alt=""><figcaption></figcaption></figure>

<figure><img src="/files/X40D4n82cqmmWXCiJF1V" alt=""><figcaption></figcaption></figure>

**Public Sale (6%)**

6% of tokens will be allocated to the public sale. This ensures a wide distribution of the tokens and active participation in the ecosystem development by Merlin native token holders.

Distribution schedule:

\- Lockup: none

\- Vesting: none

**Airdrop (20%)**

The Community has been allocated 20% of the token supply. Merlinswap wouldn’t be possible without a thriving community of supporters. 4% of this allocation will be unlocked at TGE and will be distributed during the initial phases of the TGE, including the TGE-related airdrop (and related activities). Click [here](https://bit.ly/4chAJe2) to learn more details!

The remaining 16% of the esMP token will be used to allocate to Merlin ecosystem partners and its users in the following rounds.&#x20;

Distribution schedule:

\- Lockup: unlocking 2% every 3 months

\- Vesting: linear, 30 days

**Trading Rewards (24%)**

24% of tokens will be allocated to the trading reward. The Trade-to-Earn program allows users to earn extra rewards while continuing the usual trading activities. This program isn't just a one-time event but a continuous, 12-month earning opportunity. The reward will be distributed in the form of esMP tokens, rather than MP tokens directly.

Distribution schedule:

\- Lockup: none

\- Vesting: 12 months

**Merlinswap Treasury & LP (33%)**

33% of tokens will be allocated to the MerlinSwap Treasury, which ties the value of the MP token to MerlinSwap itself. The accumulated fees may be used to fund development, manage the token supply through buy-backs, or other initiatives that support the long-term health of the protocol. Part of the tokens in the treasury were also distributed via mining, farming and other liquidity incentivization schemes to boost the protocol's long term growth.&#x20;

Distribution schedule:

\- Lockup: 1 month cliff

\- Vesting: linear, 48 months

**Genesis Liquidity Treasury (9%)**

9% of the initial token supply will be paired with BTC and other selected ranges and deposited as liquidity to support MP swaps at launch. 4% of the initial token will be used for long-term market making.

Distribution schedule:

\- Lockup: none

\- Vesting: none

**Marketing (2%)**

2% of tokens will be allocated to the MerliSwap marketing expansion activities, including marketing campaigns and eco collaborations.

Distribution schedule:

\- Lockup: none

\- Vesting: linear, 30 days

**MerlinSwap Team (6%)**

MerlinSwap contributors will receive 6% of the tokens, strongly incentivizing them to seek the long-term health of the protocol and overall ecosystem.

Distribution schedule:

\- Lockup: 12 months

\- Vesting: 12 months

**Conclusion**

This token model is created to bootstrap the MerlinSwap ecosystem with well-aligned incentives for key stakeholders and traders.

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# Fundamentals of esMP and MP

MP is the native token of MerlinSwap.

esMP is the escrowed version of MP, which can be unlocked with a 30-day linear vesting period through MerlinSwap’s webpage.&#x20;

**MP Overview:**

* Native Token: $MP is the primary cryptocurrency of MerlinSwap.
* Deflationary Mechanism: To enhance its value, 50% of MerlinSwap's income is used to buy back $MP, along with other blue-chip assets from the Merlin Chain ecosystem.
* Utility Across Protocols: $MP is utilized as collateral in various protocols within the Merlin ecosystem, notably in the money market protocol.

**esMP Overview:**

* Escrowed Version of $MP: $esMP can be unlocked with a 30-day linear vesting period via MerlinSwap's webpage.

**esMP Highlights:**

Utility Boost:

* Purpose: Designed to stabilize asset values and boost utility.
* Benefits: Enhances liquidity farming incentives on MerlinSwap by up to 2.5x.

Governance Role:

* Function: Acts as the governance token for MerlinSwap.
* Engagement: Enables community governance through token allocation voting and airdrop voting.

Staking Benefits:

* Protocols: Currently, $esMP assets can be staked in eco protocols like Camelot, Avalon Finance, and Mage Finance.
* Future Integration: Plans are in place for more protocols to incorporate $esMP shortly.


# Tutorial

MerlinSwap is the top innovation DL-AMM DEX on Merlin Chain. The tutorial is available to assist users in navigating the bridge, covering the processes of swapping.

**Preparation:**

* You need a crypto wallet (use Metamask as an example)
* Configure your wallet to use Merlin Mainnet and BNB Chain
* Prepare some BTC, BNB or other gas tokens for transferring BTC

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**Below is Merlin Mainnet Network information:**

Network name: Merlin Mainnet

RPC URL: <https://rpc.merlinchain.io>

Chian ID: 4200

Currency symbol: BTC

Block explorer URL(Optional): <https://scan.merlinchain.io>


# How to bridge assets to Merlin Chain?

1. Navigate to the third-party bridge [Meson](https://meson.fi/), connect your wallet, and select Metamask.

<figure><img src="/files/t5kOi112I3UxvvfcXtD6" alt=""><figcaption></figcaption></figure>

2. Select the type of asset (BTCB) to transfer and enter the amount.

   <figure><img src="/files/tP1BV26lgGHS2GRWtdeJ" alt=""><figcaption></figcaption></figure>
3. Please kindly confirm the Recipient‘s address. The fee and arrival time are also displayed here.

   <figure><img src="/files/XtvvX47N7Yak5pH9VsNQ" alt=""><figcaption></figcaption></figure>
4. Tap the “Swap” button to transfer assets from BNB Chain to Merlin Mainnet.

   <figure><img src="/files/cXNrKg3qd0kuNlv1nwFm" alt=""><figcaption></figcaption></figure>
5. Approve the BTCB spending cap and confirm the transaction.

   <figure><img src="/files/r5Ztp735OB38EC2Tx73k" alt=""><figcaption></figcaption></figure>
6. Wait for a bit. If the assets have been successfully delivered, you will see the below pop-up window.

   <figure><img src="/files/a2XKC19IhauJGBH0bzVz" alt=""><figcaption></figcaption></figure>


# How to swap on MerlinSwap?

Due to Particle Network providing the "account abstraction" feature, Merlin Chain can supports native Bitcoin wallets and addresses. Users can transfer, authorize, and receive assets on Merlin Chain using UniSat Wallet or OKX Wallet.&#x20;

Therefore, users have the option to choose between Bitcoin wallets or EVM wallets.


# MetaMask Wallet

Metamask

Step 1: Visit the MerlinSwap official website: <https://merlinswap.org/home>, tap the “Launch APP” button, and connect your wallet.

<figure><img src="https://lh7-us.googleusercontent.com/yQswmHTk0LGUQjYbU5shbNnBiDkjDfA-psrM5Qk7-fxFRsDUEF80Rn0ZkBth_aHZq2jwD0P4Hv6SazApeviHU3ZEHNxXddF5VcsWPaZjqVEbib4NyD-9tMoyCY6NPsX-OE_sxAT2rXY1B6e9z7Lop50" alt=""><figcaption></figcaption></figure>

Step 2: Here we select Metamask as an example, connect your Metamask wallet and switch to Merlin Mainnet.

<figure><img src="https://lh7-us.googleusercontent.com/a2gRMgd7Ri0IJzDi9I-kUyZzPjFP79bYG5iCN4KrfH71XEKJTMmJKEr4NgtFG92FDGiy22ICuj0_tkcmnZqCAttraVzsHtyj3toHnqhxnOdaG56HNUQ09jjoZuMKno_xc7_einfGGLToj3-seNrBgNU" alt=""><figcaption></figcaption></figure>

Step 3: Select the token you want to trade. The upper one indicates your sell, the down one represents your buy. Enter the amount you need to swap.

<figure><img src="https://lh7-us.googleusercontent.com/47_4DzWLG56Roa8vRB-a9VvdsJg3RFOiY2w0m_EeDHaLk3jrh-xDNBYV5Yui4tlPWLNohH20Y8fpS8Uh-Y87NWIcPRW8z6kZJR11xc6JLa_is2nMCB9Vsy33y0muAP4jE-83zjgk63gESra8r4f9FIM" alt=""><figcaption></figcaption></figure>

Step 4: Check the transaction details by clicking “⬇️”. There are Liquidity Provider Fee, Price Impact, Average Price, Average Price, and Minimum Receive. If you don’t have any doubt, tap the “Swap” button to trade.

<figure><img src="https://lh7-us.googleusercontent.com/55jTHvuIhoKblfzvzWv5qF1VL4YoXL4abzEJnw1IiVKcW97UE1cav-a8OQxLmY-hfvnFfYvatgUamcXQeQVl1U8hMgBJH0l7u5MmyxgzlYMYVREHC4wgf7_jCyl7r8W11wKlLGnXeT_mH89vaD-Nrtw" alt=""><figcaption></figcaption></figure>

Step 5: Confirm the transaction on Metamask and kindly wait a moment; your swap will be completed.&#x20;

<figure><img src="https://lh7-us.googleusercontent.com/da7vo2xIiLvVJz64HT6rWOraEwwYs8IPZntJRXRZgh4t1MtR90bJ6hFSV-F-Lx8c1MY5cjPDnrCqrKWYNIFuI2SWT0NukuSwrJVcIRMl068vF8e4X5od1GBhss30sEKDJ74G7_K40BBOBoBuJIkOLj4" alt=""><figcaption></figcaption></figure>


# UniSat Wallet

Step 1: Visit the MerlinSwap official website: <https://merlinswap.org/home>, tap the “Launch APP” button, and connect your wallet.

<figure><img src="https://lh7-us.googleusercontent.com/yQswmHTk0LGUQjYbU5shbNnBiDkjDfA-psrM5Qk7-fxFRsDUEF80Rn0ZkBth_aHZq2jwD0P4Hv6SazApeviHU3ZEHNxXddF5VcsWPaZjqVEbib4NyD-9tMoyCY6NPsX-OE_sxAT2rXY1B6e9z7Lop50" alt=""><figcaption></figcaption></figure>

Step 2: Here we select UniSat Wallet as an example, connect your UniSat Wallet.

<figure><img src="/files/1uTGIhydWAZwN6DlYubO" alt=""><figcaption></figcaption></figure>

Step 3: Tap the "Particle Network" logo in the bottom right corner to view your Account Abstraction (AA) smart contract wallet.

<figure><img src="/files/vvbTupG3ZVLqtiqebOVQ" alt=""><figcaption></figcaption></figure>

You also can find your EVM address on Particle Wallet.

<figure><img src="https://lh7-us.googleusercontent.com/lyEjOLx80msqHzIeFN2fxARclmOXPSjwVWq_w4o4R8xzkIeAUBSX3DLSKnM1_-AhH61VQVXrCH-J8r2TQYRtJZV_9ymdUphWXcAkUC_YF3Wqgvv4K067CLrgo0h1Oe36KkGWUW1gOrlrcYREN5snmzs" alt=""><figcaption></figcaption></figure>

Note: You must keep some BTC as a gas fee. The AA wallet has a prefund check feature so that if you don’t have enough BTC, it will show an error message.

Step 4: Select the token you want to trade. The upper one indicates your sell, the down one represents your buy. Enter the amount you need to swap.

<figure><img src="/files/WZyobOXPZTE9E6PCqpmy" alt=""><figcaption></figcaption></figure>

Step 5: Check the transaction details by clicking “⬇️”. There are Liquidity Provider Fee, Price Impact, Average Price, Average Price, and Minimum Receive. If you don’t have any doubt, tap the “Swap” button to trade.

<figure><img src="/files/qIHFoQjX3sUD5rY4wduN" alt=""><figcaption></figcaption></figure>

Step 6: Sign the transaction on UniSat Wallet, and kindly wait a moment; your swap will be completed.

<figure><img src="/files/EA9NxcMbfmeLJAQMwJwo" alt=""><figcaption></figcaption></figure>


# OKX Wallet(Mobile)

Step 1: Open the OKX App, and select Wallet from the top toggle.&#x20;

Click the “Discover” tab at the bottom to access the DApp “Discover” page.

You can find “MerlinSwap” in the “Rising stars” area.                                                                                    &#x20;

<img src="/files/tTKpLdT0qxFWnqXKk12z" alt="" data-size="original">

Step 2: Tap the "Connect Wallet" button and select OKX Wallet.<img src="/files/Whk5aS5Q34doknk4lzUF" alt="" data-size="original"><img src="/files/V5YDH1wWAHhbxvev3y46" alt="" data-size="original">

Step 3: Select the token you want to trade. The upper one indicates your sell, the down one represents your buy. Enter the amount you need to swap.                                                                           &#x20;

<img src="/files/k96Ps6UL1mspq18QXKvU" alt="" data-size="original">

Remember to keep some BTC reserved for paying gas fee!

Step 4: Tap the "Swap" button and confirm the transaction on OKX Wallet. And kindly wait a moment; your swap will be completed.

![](/files/a3bskPK7aLrJwAuN1B6E)![](/files/NjjI4y1kEpxs9tbTE80J)


# How to add liquidity on MerlinSwap?

1. Navigate to MerlinSwap at <https://merlinswap.org/home>, connect your wallet and tap on the "Pools" feature.

   <figure><img src="/files/BrEVwdtz1JVUJtFbsGEC" alt=""><figcaption></figcaption></figure>
2. You can view all popular pools on Merlin and their respective pool information, such as liquidity, 24-hour volume, and current APR. Tap the “Add Liquidity +” button to provide liquidity.

   <figure><img src="/files/ztGXnMR0T7lJxCwOwJ8r" alt=""><figcaption></figcaption></figure>
3. Choose which pair you would like to provide liquidity for, and select the fee tier. Here we will use the WBTC - iUSD pair as an example.

   <figure><img src="/files/uzFPFXAFB2YQOJVHr3gC" alt=""><figcaption></figcaption></figure>
4. Input the amount of tokens you will provide and take note of the current price. Set the LP price range, and we recommend a range of plus or minus 50%. Within this range, you can earn a higher APR and it's less likely to exceed the range.

   <figure><img src="/files/XviSfjXmnzrcG1GFKQSE" alt=""><figcaption></figcaption></figure>
5. Approve your token and double-check all your related liquidity settings, then tap "Add".

   <figure><img src="/files/Db54pllh3n3tkNopVyuX" alt=""><figcaption></figcaption></figure>
6. After successfully adding liquidity, you can view your position at <https://merlinswap.org/trade/liquidity>.

   <figure><img src="/files/mEUyumir9zXaDxubiWoN" alt=""><figcaption></figcaption></figure>

Please note that providing liquidity carries the risk of "Impermanent Loss." Ensure you have sufficient experience before participating. Learn more [here](https://academy.binance.com/en/articles/impermanent-loss-explained).


# How to vest your esMP token?

**What is esMP token?**

The esMP token is a novel take on the ERC20 standard, designed to both enhance utility and mitigate selling pressure. Upon acquisition, it integrates effortlessly into your wallet, facilitating a straightforward conversion to MP tokens at a 1:1 ratio following a 30-day vesting period on the MerlinSwap platform. This process is tailored to simplify and enhance your investment journey.

**Below is a tutorial to guide users on how to vest esMP tokens:**

1. Navigate to the “$MP” [page](https://merlinswap.org/MP) and scroll to the bottom of the page.

   <figure><img src="https://lh7-us.googleusercontent.com/NDaHIQlbNM05izqgEdhwTfxZs3evKer9YpMNEupq1lfD9xHeL7QYFy0nuuGuPlaKVCpI1DL5yStrFxqJmh_W55iHabGeQU52cwJx2mgWoQAvTLJC5zNJr8ibiRvrpLrVj0BETVJ0l7FgiHMXnQ8Y4AY" alt=""><figcaption></figcaption></figure>
2. In the vesting area, you can view your esMP balance, the amount of pending esMP, as well as the claimable MP amount.

   <figure><img src="https://lh7-us.googleusercontent.com/CykwIX5H44zfAykOhB4X3dq9fAP1EXlHkgw54EubAnRcMNiNg7eW_JZsKfKSS0RJY6icto45VFf5NFBMMG_F3sTo-rrQIGujA_whLHNlbTivg39sh54zTp4lubqgmt_bxpbH224wPQuEegwb70go52s" alt=""><figcaption></figcaption></figure>
3. Tap the "Unlock" button to release your esMP, then input the vesting amount and approve the token.

   <figure><img src="https://lh7-us.googleusercontent.com/ilLGGJ7irKHHeJ-B2xGNf28f7UJJNswFMZ-nhvHDC90RTvD__j8INzBntLQv-pFIC7ArnyowS63f6sU1T-A1PZnR1BglIr3XMj0BR6O21unhsAkx3d1IO9k3kkj_YsewqnFM_4BKoI7DteBP2PaLVyo" alt=""><figcaption></figcaption></figure>
4. View the vesting schedule and unlock rules. Please note that if you currently have esMP unlocking and you unlock another batch of esMP, the previously unlocked esMP will reset the whole full vesting period.

   <figure><img src="https://lh7-us.googleusercontent.com/MUSsNp1D54BldU0Cv5XNN75eLWh-AhgfDckUJST-ZFeQ3M8w_sEHaR01xaWFkvaSmQ2HOZjbiVvRiK2kSbvhogYJbQ4yj3NGxFiuCBZwYkc1-QUUwDz1r69x6W8MuKYoIumUZk7e3PLrfp3vbC7ZPfU" alt=""><figcaption></figcaption></figure>
5. After completing the above steps, you can view the details of the released and pending tokens.

   <figure><img src="https://lh7-us.googleusercontent.com/P7-Qwc_Dk7FhbGsPhMbOAlqm11wXJZYhE1qqQ8j_vwgZ_XxrxVOCPStGLFSkBtTrrO7cYm98qPkQOpb7MAoVELHWA48MwgCKPRvDWEDglC8KEOJjqyQMWqTs3F2q5fTgX9OEHsiCfPEa_myX4m85Mdo" alt=""><figcaption></figcaption></figure>


# How to Farm on MerlinSwap?

1. Select the "Farm" feature from the top navigation bar or visit <https://merlinswap.org/farm/dynamic>.

   <figure><img src="/files/UWoZFmkHSVW649uGtZeh" alt=""><figcaption></figcaption></figure>
2. Choose which pool you would like to farm. Please note that farming in a pool is the same as providing liquidity, and it may incur Impermanent Loss. Here, we'll use SolvBTC-M-BTC as an example.

   <figure><img src="/files/so3NEbWKyH1oZhP8QKWl" alt=""><figcaption></figcaption></figure>
3. Tap the "Add Liquidity" button and input the amount of tokens you want to add. Remember to check the current price range.

   <figure><img src="/files/l8tK5wFVtZzNRX3Dl8YU" alt=""><figcaption></figcaption></figure>
4. Under the "Price Range" section, you'll find a "Boost APR" button. Opening this button and staking esMP can boost your farm APR, up to 2.5X!

   <figure><img src="/files/fYPSss40jbc6v1htIY99" alt=""><figcaption></figcaption></figure>
5. Check your current Farm APR and tap "Add Liquidity".

   <figure><img src="/files/ACige1ecDNHjG8B4QAbG" alt=""><figcaption></figcaption></figure>
6. If the "$Farming" appears in the pool, it indicates that you are enjoying the mining rewards! You can check the NFTId, TVL, and APR. You also have a chance to further boost your APR via the "Boost" button.

   <figure><img src="/files/ZXakey8Ju1AVKdW6fm8P" alt=""><figcaption></figcaption></figure>


# Social Media

You can stay updated with the latest information by following the channels listed below:

**Website:** [**https://merlinswap.org/home**](https://merlinswap.org/home)

**X(Twitter):** [**https://twitter.com/MerlinSwap**](https://twitter.com/MerlinSwap)

**Discord:** [**https://discord.gg/merlinswap**](https://discord.gg/merlinswap)

**Telegram Group:** [**https://t.me/Merlinswap**](https://t.me/Merlinswap)

**Developer Docs:** [**https://developer.merlinswap.org/**](https://developer.merlinswap.org/)


# Disclaimer

MerlinSwap is the first cross-chain swap for BRC20 and the Bitcoin Ecosystem. MerlinSwap is composed of free, public, open-source or source-available software, including a suite of smart contracts deployed on the Bitcoin Layer2 Merlin. Your engagement with MerlinSwap carries various risks, including, but not limited to, potential losses while digital assets are supplied to the MerlinSwap protocol and losses due to price fluctuations of tokens in a trading pair or liquidity pool. Before engaging with MerlinSwap, it is advised that you comprehensively review the relevant documentation to understand how MerlinSwap operates.

By utilizing the Services or interacting with the MerlinSwap platform in any capacity, you represent and warrant that you comprehend the inherent risks associated with cryptographic systems and blockchain-based networks. This includes an understanding of Digital Assets, including the usage and intricacies of native Digital Assets like BTC, smart contract-based tokens following the Ethereum Token Standard, and systems that interact with blockchain-based networks.

MerlinSwap does not own or control the underlying software that constitutes the foundation of blockchain networks. Generally, the software underpinning blockchain networks, including Merlin Chain, is open source, allowing for public use, modification, and distribution. By using MerlinSwap, you acknowledge and agree (a) that MerlinSwap is not responsible for the operation of the software and networks underpinning its Services, (b) there is no guarantee regarding the functionality, security, or availability of said software and networks, and (c) these underlying networks are subject to abrupt changes in operational rules, such as “forks,” which may materially affect MerlinSwap's Services. Blockchain networks utilize public/private key cryptography.

MerlinSwap is a premier decentralized exchange (DEX) for digital assets, functioning on the Merlin Chain compatible with Ethereum. MerlinSwap comprises free, public, open-source, or source-available software, including smart contracts deployed on both the Merlin and Ethereum blockchains. Your interaction with MerlinSwap involves various risks, including, but not limited to, potential losses while digital assets are being supplied to or traded on the platform, and price fluctuations of tokens in a trading pair or liquidity pool. You are encouraged to thoroughly review the documentation related to MerlinSwap to fully grasp how the platform functions.

By using MerlinSwap, you acknowledge the inherent risks associated with cryptographic systems and blockchain-based networks. This extends to digital assets, including the use and complexities of native digital assets like BRC20 and BTC, as well as smart contract-based tokens. Understanding the nuances of systems that interact with blockchain networks is crucial.

MerlinSwap does not possess or exert control over the underlying software that forms the basis of blockchain networks. Typically, this software, including that for the Merlin and Bitcoin blockchains, is open-source, permitting anyone to use, modify, and distribute it. When using MerlinSwap, you recognize and accept (a) MerlinSwap's lack of responsibility for the functioning of the software and networks underpinning its services, (b) the absence of guarantees about the functionality, security, or availability of that software and networks, and (c) the potential for abrupt operational rule changes in these networks, such as “forks,” which could significantly impact MerlinSwap's services.

Blockchain networks function using public/private key cryptography. You acknowledge that the services provided by MerlinSwap are susceptible to potential flaws, and it is your responsibility to evaluate any code or operations on the platform. The warnings provided herein do not constitute an ongoing duty to inform you about all potential risks associated with using MerlinSwap.

The security of your private keys is solely your responsibility. MerlinSwap does not have access to your private keys. Losing control of your private keys will irreversibly restrict your access to digital assets on the blockchain. In such cases, neither MerlinSwap nor any other entity can retrieve or protect your digital assets. Loss of private keys results in the inability to transfer digital assets to other blockchain addresses or wallets, leading to the loss of any value or utility those digital assets may possess.

Your interaction with MerlinSwap, including trading digital assets, borrowing, or supplying assets, entails financial risk. Digital assets are inherently experimental, risky, and volatile. Transactions are irreversible and final, with no possibility of refunds. By using MerlinSwap, you acknowledge and accept these risks and agree to access and utilize the platform at your own discretion. The risk of loss in trading digital assets can be substantial. You should consider whether such trading is suitable for your financial circumstances and resources.

By engaging with MerlinSwap, you represent that you have independently evaluated the risks of transactions and the underlying digital assets. You assert that you possess the necessary knowledge, sophistication, and professional advice to assess the merits and risks of transactions conducted on MerlinSwap. You accept all consequences of using the platform, including the potential loss of access to your digital assets. All transaction decisions are made solely by you, and MerlinSwap bears no responsibility for your actions on the platform.

MerlinSwap must adhere to applicable laws, which may necessitate certain actions or the provision of information to government agencies, actions that may not align with your

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