MERGE: A Trusted Crypto Escrow Service Provider Giving Interest on Savings
Over the last few years, several public cryptocurrencies and blockchain service providers have entered the market with the promise of getting digital assets in the mainstream. However, only a few of them have managed to stay relevant to the test of time.
Projects that lack in giving a unique value proposition to crypto investors and users get easily knocked off from the market. Learning from market experience and understanding the crypto market structure and consumer demand, blockchain project MERGE offers unique escrow services to its customers. The escrow services are all controlled by its corporate registered entity in the United States called Merge BCDG USA LLC.
By collaborating with several talented crypto-based teams and individuals, the MERGE project aims to pursue world-adoption and integration of the blockchain technology.
The developers of the Merge Project have also created its native cryptocurrency called the MERGE coin. So before understanding the tokenomics behind the use of MERGE coins and the escrow services its offer, let see the unique value proposition and incentive it offers to its users.
The MERGE tokens are currently traded on two exchanges named Folgory and MergeDEX. Recently, the MERGE token has also been listed on the popular CoinCodex exchange.
Creating A Smarter Way to Pay For Your Services
The thumb rule of life for a majority of people is, that you pay for the products and services from the earnings you make at your job. With the market inflation and soaring expenses, we are usually left with little or no capital to save or invest.
But what if there was some way, where you dint need to touch your earned income for paying your bills. What if the interest earned for on your invested capital pays your bills while protecting your capital as it is. Yes, that’s how the rich live their life.
The rich people usually pay their bills from the money earned as interests on their investments. Well, Project Merge wants you to live in a similar way by helping you protect your capital or we can say the principal amount.
Merge Escrow Services And Tokenomics
An escrow is basically a financial arrangement between two parties – the sender and the receiver. The escrow serves as a trusted third-party which regulates the flow of funds in a given transaction.
It adds a layer of security to the transaction by keeping the money in a safe place and will be released only when the terms of the agreement are met. Project Merge acts as an escrow agent or the trusted third-party for holding the MERGE tokens between the two transacting parties.
Suppose that you’re availing some service of a service provider on a monthly subscription plan. If you are paying using MERGE tokens, then Project Merge will act as a third party for the contract between you and the service provider.
Thus, MERGE will pay on your behalf for the services that you’re using. But the key thing to note is that unlike other traditional escrow services, Project Merge will pay your bills without touching your capital or your principal amount. So now you would be thinking about how is this possible? It will be interesting to understand this token economics aka tokenomics.
During the time of agreement between you and the service provider, Project Merge’s escrow will stake your MERGE tokens and place it in masternodes. These masternodes usually receive staking rewards for providing security and connectivity to the blockchain.
These rewards, in turn, will be used to pay for your services. Thus, Project Merge protects and makes smart use of your invested capital. Project Merge also provides flexibility to continue with your agreement.
Let us understand this with an example. Suppose that you have to pay 100 MERGE tokens for a software subscription every month using the Merge Escrow services. Initially, you will have to buy the MERGE tokens from the platform which will be treated as your capital investment. Let’s say you buy 1000 MERGE tokens.
The Merge Escrow will first use your 1000 MERGE tokens for staking and place in in the masternodes. These masternodes receive rewards for ensuring the security of the Merge blockchain. Suppose that the monthly rewards for staking 1000 Merge tokens is 100 additional tokens. The Merge Escrow will use these 100 Merge tokens to pay for your software subscription. This way, your capital remains intact while you can pay for other services.
The more Merge tokens you stake, the more rewards you’ll receive, and thus the more bills you can pay without losing your capital.
You can continue to avail of these services every 90 days or the stated contract time. When you cancel the contract, Merge will return all of your principal.
Different Services Provided By Merge for Its Users
The Merge platform offers a number of services for its customers/ Let’s take a look at some of them.
- The Merge Platform offers decentralised coin (DEX Coin) listing on its native decentralised exchange called the MergeDEX.
- Besides, it also incentivizes the MergeDEX users by offering a multilevel DEX referral system. This system allows existing users to earn referral awards for onboarding new users.
- The Merge DNS Seeder service helps to return the IP addresses of full nodes to the coin’s network. This helps to synchronize all the wallets and nodes to the right chain by preventing any risks of forking.
- The Merge Hosting service offers the facility of hosting masternodes of supported coins at no additional cost.
Some of the additional services offered by the Merge platform include chain swap applications, block explorer hosting and many others. You can check the complete list here. Get your Merge merchandise straight away and show your support to the project.