The Team Behind London Fintech Pynk announce De-Fi project Meryt Protocol

A Reputation-Based Approach to DeFi — The Meryt ProtocolThe team behind the Meryt Protocol seek to change the way decentralized Digital Organisations (DO’s) manage money in the De-Fi space and attribute value to users based on a meritocratic solution. The protocol introduces a new reputation-based system to the market providing users with more voting weight based on their particular efforts and skills, rather than how many tokens they hold in their wallet. In doing so, Meryt will allow Digital Organisations and DAOs to manage on chain funds in a truly decentralised manner, making management of De-Fi opportunities easier and more efficient through low/no code modules.MeritocracyAs part of this new approach, the platform operates as a meritocracy. Meritocracies are community-governed organizations that enable users to gain more influence by contributing more to the well-being of the community. In a meritocracy, a user is only as relevant as the value they bring to the platform. These networks provide a self-sustaining, self-governing organism, where the decision-making power is placed in the hands of people based on their skills, time, and other contributions.What Problems Does the Meryt Protocol Attempt to Fix?This approach to the market helps to alleviate many issues currently facing decentralized DO’s. The current model for most of these protocols is based on financial weight. The more governance tokens you hold, the more weight your vote contains. However, there are some limitations to this approach that have slowed adoption.Furthermore, decentralised digital groups organise themselves around Web 2.0 tools such as Discord, Slack and others. These platforms are designed primarily for communication but lack the features that blockchain can offer and Web 3.0 organisations need. To combat these concerns and accelerate adoption — the Meryt Protocol provides low code and no-code development solutions to the market, allowing Digital Organisations to better manage on-chain…