MerlinSwap

MerlinSwap (MP) presents a deeply polarizing investment profile where strong theoretical fundamentals are critically undermined by severe security warnings and stagnation. On the positive side, the protocol serves as the dominant liquidity hub on Merlin Chain (Market Score: 8/10) and utilizes a robust 'esMP' tokenomic model to align long-term incentives (Tokenomics Score: 7.2/10). The team lineage, involving Bitmap Tech and iZUMi Finance, is also rated highly (Team Score: 7.5/10). However, these strengths are rendered effectively moot by a catastrophic Security score (0/10), which cites a history of a 'confirmed rug pull' and 'insider exit scam' involving a backdoor in the code. This security red flag is compounded by a lack of ongoing maintenance; the project is in 'maintenance mode' with negligible development activity (Active Development Score: 2/10) and a community driven largely by short-term incentives rather than organic support (Community Score: 4.2/10). Despite the functional product and market share, the allegations of insider malice and the total absence of recent development make this an exceptionally hazardous investment.