Table of Contents
1. A smarter way to pay for services
If you’re like most people, you’re probably used to a standard way of paying for the things you need. You work a job and get paid cash. You then use this cash to pay for products/services you need. It’s a foolproof system that’s as old as time.
However, what if we told you that there was an even better way? A way that wealthy people have been taking advantage of for generations? Hear us out.
In today’s society, 99% of people spend all day working to earn a paycheck that they can use to pay for things they want. However, the other 1% has figured out a different way. Wealthy individuals make their money work for them and avoid spending their principal. Instead, they only spend the interest/profits they make with their money. This is exactly how wealthy individuals, foundations, and endowments operate with huge budgets. They have a big lump sum of money, invest it, and use the profits from their investments as their new budget. The difference is that now their principal amount never gets any smaller.
Every time you pay for a service, you’re spending money that you could be investing with. When your money is invested, it could be earning interest and creating more passive income for you. You might be thinking, well how else am I supposed to get services I need without paying for them? Well, that’s exactly what Project Merge is doing.
Merge is going to change the way you think about paying for services.
Let’s take a look at an example, using hosting as an example of a service you are or have paid for in the past year. Every month you send $5 to the hosting company for that month’s hosting fees. At the end of the year, you would have spent $60 total on hosting fees. That’s $60 out of your bank account that you could have invested elsewhere. Now, $60 isn’t a ton of cash but when you think about all the services you pay for every month, it starts to add up. By paying money for services upfront, you’re not able to invest that money and spend the profits (like wealthy individuals do). Here’s where Merge comes in. Merge allows you to pay for services without losing your principal. Let’s take a look at how this works.
What is an escrow?
An escrow is a financial arrangement between two people where a third party holds and regulates funds required for two parties involved in a given transaction. It helps make transactions more secure by keeping the payment in a safe place (secure escrow account) where it will be released when all of the terms of an agreement are met. For example, you want to buy a house. Instead of paying the owner of the house all of the money up-front, you pay a neutral third party the money as a safety precaution. Then you meet with the owner, make sure everything is as you discussed and reach a final agreement. Then the owner gives you the keys and the funds are released from the third party to the owner’s bank account.
Project Merge acts as the third party, securing MERGE tokens during the term for the contract between you and the service provider. Merge acts as the foundation, paying the service provider on your behalf for the services you use. This allows Project Merge to protect your principle from being spent. When you no longer need the services, the contract between you and the service provider is canceled. The Escrow associated with that contract is canceled and all of your principal is returned to you. Now a year has passed and all of your original Merge tokens are yours!
It’s not magic, it’s just a simple wealth strategy that you may have never thought was possible.
Here’s how it works on Merge’s side. During the term of the agreement, coins held by the escrow are staked and placed in masternodes. While the coins are here, they generate rewards. The rewards generated by the blockchain are then used to pay the service provider. The term of the agreement can be extended by both parties, allowing the client unlimited use of the provided service. The provider profits by not having to bill and collect payment during the term of the agreement, eliminating lost revenue.
2. Current Service Providers
Project Merge has collaborated with several providers to offer services using the escrowed payment method. Services currently include:
- Masternode Hosting
- DNS Seeder Service
- Chain snapshot/bootstrap utility
- Block Explorer hosting
- Chain swap application
- Network Monitoring Utility
- Internet Radio hosting
Several other services are being built through collaborations with Project Merge.
3. Onboarding Clients
How does Project Merge use traditional financing to make client acquisitions seamless? Merge Blockchain Development Group USA LLC was formed in Wyoming to establish the sales of services, for the initial term of the escrow, using fiat payments.
4. Trading MERGE tokens
Currently, MERGE tokens are traded on two exchanges, MergeDEX and Folgory.
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