
What is this?!?
(please use keywords, and keep guesses under 50 characters)

Melvin the Meerca loved solving anagrams so much that he started bragging to everyone that he was better than Eliv Thade. One day, Melvin received a mysterious letter made up of anagrams. When he was done solving the letter, he didn't get answers but only more questions! The letter read as follows:
Ready for a challenge? Solve this puzzle. If you place the words below into pairs, each correct pair will be an anagram of an eight letter Neopian word. The first letter of all five words together should provide an anagram that spells out another Neopian word.
Oh no, poor Melvin! Maybe you can help him out? What is the final Neopian word?
Please answer with only the five letter word and no additional text!