Merlinswap
Merlinswap converts esMP to MP at 1:1 through 30-day linear vesting
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Merlinswap converts esMP into MP at a 1:1 token ratio through a 30-day linear vesting process. The amount determines the eventual MP quantity; the schedule determines its release over time. Starting another unlock while an earlier esMP batch is still unlocking restarts that earlier batch’s full vesting period.
esMP is the escrowed version of MP, the platform’s native token. The “$MP” screen distinguishes the esMP balance, pending esMP and claimable MP, giving each quantity a different role when reading an active conversion.
The 1:1 rate measures token quantities
The vesting conversion provides one MP unit for each esMP unit. The selected esMP amount therefore determines the eventual MP amount under the conversion terms. A larger entry changes the quantity subject to vesting without changing that unit relationship. Keep the token names beside the numbers: the starting quantity uses esMP units and the conversion quantity uses MP units.
A larger amount changes the MP total and release rate
In a hypothetical amount comparison, a 1,275 esMP unlock converts into 1,275 MP, while a 1,515 esMP unlock converts into 1,515 MP. Treat these as alternative choices for a single unlock, each with an uninterrupted 30-day schedule and no earlier batch still unlocking.
Increasing the selected amount by 240 esMP increases the eventual conversion quantity by 240 MP. The additional quantity follows the same conversion ratio and vesting duration as the rest of the selected amount.
Across the 30-day period, the corresponding linear rates equal 42.5 MP per day and 50.5 MP per day. The larger input increases the daily equivalent by 8 MP. These rates describe the arithmetic of linear vesting; they do not promise separate wallet transfers every day.
The comparison holds the vesting terms constant and assumes no restart. Starting another unlock during an existing batch changes the earlier schedule, so the original timeline no longer describes that batch.
Linear vesting describes release across the period
The esMP conversion uses a 30-day linear vesting period. Linear vesting means the amount vests at a constant rate across an uninterrupted schedule. The full period supplies the denominator for a release-rate calculation, while elapsed time identifies progress through that schedule. The same conversion ratio can therefore accompany different claimable amounts at different moments.
Use the schedule attached to the active unlock for timing. The date esMP first reached a wallet does not, by itself, establish the active batch’s vesting progress.
The vesting panel separates balances by stage
The vesting area on the “$MP” screen shows an esMP balance, pending esMP and claimable MP. Read each label before using its number in a calculation.
The esMP balance
The esMP balance identifies the escrowed token quantity shown in the interface. It provides context for the amount entered into an unlock. A wallet balance alone does not show how far an active vesting batch has progressed.
Pending esMP
Pending esMP concerns tokens still awaiting release through vesting. Its timing belongs to the active schedule, including any restart caused by another unlock. Read that amount alongside the schedule when interpreting how much of the conversion remains pending.
Claimable MP
Claimable MP identifies the MP amount available to claim at that point. The total expected from the original esMP amount describes the full conversion, which can exceed the amount currently claimable.
The vesting workflow includes amount entry and approval
The vesting workflow uses the “Unlock” control, a selected esMP amount and token approval.
The amount entered for vesting
The entered amount identifies how much esMP the unlock puts into vesting. An esMP wallet balance does not mean every unit has entered that schedule. Before beginning another unlock, read whether a previous batch is still unlocking, because that state controls the restart condition.
The token approval
Token approval authorizes token use for the operation. Approval and a completed conversion describe different stages, so an approval confirmation alone does not establish a received MP amount. The vesting interface provides the schedule and released or pending details needed to interpret the conversion.
A new unlock restarts an earlier active batch
Starting another esMP unlock while an earlier batch is still unlocking restarts the earlier batch’s full vesting period. The restart changes the earlier batch’s timing while preserving the token conversion ratio. A calculation using the old endpoint can therefore overstate how soon the remaining MP becomes available.
Receiving more esMP and beginning a new unlock are distinct events. Compare the extra quantity entering vesting with the full restarted period the additional unlock introduces for the earlier batch.
Trading rewards use a separate program schedule
The trading-reward model describes a 12-month earning program and specifies esMP as its reward token. That duration describes the earning program; the 30-day linear period describes esMP conversion through vesting. An unreceived reward allocation, an esMP wallet balance and an active unlock represent different states. Applying one duration to all of them would confuse reward distribution with conversion timing.
Equal token counts do not establish equal currency value
The 1:1 relationship supplies a token quantity, not a currency valuation. It does not supply MP’s market price, the proceeds of a swap or a return relative to an acquisition cost. Those calculations require their own inputs.
A farm boost measures a different use of esMP
esMP also has a use in liquidity farming through the “Boost APR” control. Staking esMP through that feature offers a farm APR boost of up to 2.5x. APR means annual percentage rate and describes an annualized reward rate in this context. The boost concerns farming rewards, so it does not multiply the MP units returned by vesting.
The farm boost applies to a farming position and its terms. Converting esMP follows the token ratio and vesting schedule instead. These alternatives use different measures: a multiplier for farm APR and a unit ratio for conversion into MP.
Frequently asked questions about Merlinswap
Are MP and esMP represented by the same token contract?
MP and esMP have separate token contracts on Merlin Chain. The shared 1:1 conversion ratio does not combine their balances into one token entry. When reading a wallet, keep the escrowed esMP amount distinct from any MP already received. Contract identity determines which asset an entry represents; the ratio relates quantities across the vesting conversion.
Does the MP public-sale allocation follow the esMP vesting period?
The token allocation model lists no lockup and no vesting for the MP public-sale allocation. The 30-day linear process concerns converting esMP into MP through vesting. An allocation schedule and a conversion schedule apply to their respective token states, so neither should substitute for the other.
How can I calculate progress through an uninterrupted vesting period?
For uninterrupted linear vesting, the gross vested percentage equals elapsed vesting time divided by 30 days, multiplied by 100 and capped at 100%. This describes progress through the schedule. Prior claims can make the remaining claimable amount smaller than the total vested amount. A restart changes the schedule used to calculate elapsed vesting time.
What does the 1:1 conversion ratio say about transaction costs?
The 1:1 ratio specifies esMP and MP token quantities, so it does not quote transaction costs. Any charge shown for an approval or unlock is a separate input when assessing the operation’s total cost. The conversion ratio alone cannot supply a network-fee estimate or a currency-denominated net return.