Meryt: A Pioneer Blockchain-based Digital Organisation Platform
Meryt is a UK-based decentralised Digital Organisation (DO) platform utilizing reputation to determine the worth and relevance of investors. It relies on the concept of meritocratic societies, where the worth of financial products can co-relate to the talent and users’ achievement — and it helps them unlock the power of DeFi tools to help them make better on chain investment decisions.
Generally, Meryt helps in global networking and collaboration using blockchain technology. Meryt is designed to have two services, Build and Think, which can interact well to make great dApps and DOs. The build feature is for dApp developers (builders) who are incentivised to create modules and post them on the network. Meanwhile, thinkers can drag the readily made dApps from builders and use them in creating Digital Organisations and managing on chain investment decisions on behalf of the DO.
Why is the Meryt Protocol Revolutionary?
The entire financial world has been using the invested value to determine the investor’s relevance within the network. Resource and wealth allocation depends on the worth of investment a person holds within the network. Even offering jobs often depends on what the individual brings to the table and their value at their workplace.
Although distributed technologies (blockchains) were designed to be decentralised, processes like voting are only based on the user’s wallet balance.
Due to the unfairness of the financial world, the large global community somewhat seizes to accept any technological developments like blockchain. Simply put, focusing on the economic value of an individual has led to an unfair/unbalanced society.
Though it’s unprecedented, Meryt protocol plans do away with such aforementioned financial bureaucracy by introducing the concept of decentralised digital organisations. Breaking it down, with Meryt, the relevance of DOs users depends upon several factors, not just their wallet balancers. Among the highest consideration factors include; time spent, consistency, reliability, involvement, preferences, the worth of predictions, insight, stake value, collected rewards, and recruiting new users.
Meryt encourages users to concentrate on reputation and not just wallet balances. Hence more people could be interested in the blockchain world due to the fairness of the network.
Finally, all of this comes with plug and play De-Fi modules that allows Digital Organisations to better manage on chain investment decisions.
A Good Reputation Can Earn You $MRT Token
The Meryt network also introduces a native token $MRT which is responsible for powering the network. The protocol is controlled by the founding parties, who set rules and regulations guiding the network at launch. However, Meryt plans to decentralise the facilities over time from the founders’ governance to the digital organisations’ governance. The $MRT token is set to gradually help with the movement and delegation of power to reputable users.
Users without good reputations can either create an honest reputation for themselves or boost the reputation of other reputable users. For instance, they can stake $MRT to reputable users and DOs and earn rewards based on their stake. By staking, they delegate their voting power to opposite reputable members.
What if you would like to create your reputation? All you have to do is ask other users to stake their values on your account and delegate their decisions to you as well. Also, you have to participate in the day-to-day activities of the network actively.
Fostering Convenience and User Friendliness
Although blockchain technology was designed for simplicity, most blockchain-based applications are too complex for users. The UI/UX designs of most blockchain-based projects aren’t friendly in the least.
On top of the Meryt Protocol are low code and no code solutions for less technical DO leaders. It includes a feature set that powers decentralised teams with the DeFi tools needed to manage on chain investments and De-Fi portfolios. These include but are not limited to Multi-sig wallets, voting mechanisms, staking mechanism and identity modules. In doing so Meryt gives everyone access to Web 3.0 technologies, accelerating the adoption of De-Fi and empowering Digital Organisations to better manage their money and organise themselves.
Builders can create DApp features to be used by the Thinkers. These features include popular Defi services like NFT, Staking, and Governance, which can all be made as easy plugins.
Thinkers use plugins to make DOs which can help in filling up any market gaps. They can do all that by merely dragging and adding the features from the no-code Think Dapp. The UI/UX of both the build and think sections are designed with utter simplicity for the effortless creation of DOs.
Pynk — The Team Behind Meryt
The Pynk project team is behind the creation of the Meryt network. Pynk is an app used by over 50,000 people globally, which leverages the principles of a meritocratic society. Pynk has already successfully awarded users based on predictions and consistency and plans to continue doing the same.
Since the Meryt protocol is relatively new and still under development, the team is constantly on the keyboard updating its community of any changes or upgrades in the network. For more information, please click on the following respondent social accounts of the project: https://solo.to/merytprotocol
Don’t get left behind! Early adopters of the Meryt project and top Pynk users will be among the first users eligible for rewards once the Meryt platform is live. Join the Contributor Rewards programme today.