12/21/2023 0 Comments Meld token![]() ![]() With a Genius Loan, the customer collateralizes their cryptocurrency and takes out a loan with a slightly higher interest rate. MELD will provide unique and innovative new financial services never before offered by traditional banks, including not only standard cryptocurrency-backed loans but also the company’s unique Genius Loans™. MELD tokens will be available for purchase from leading crypto exchanges such as Bitrue and FMFW beginning today, the 3rd of February, 2022. The service is expected to gain strong and early traction in the EU and countries such as El Salvador and Nigeria, where cryptocurrency is either already fiat currency or is in mainstream usage. MELD capitalizes on Cardano’s transaction efficiency compared to older blockchains, which drastically reduces fees by more than 99% compared to ETH-based solutions. The MELD token is used for governance of the protocol, and users can stake it to earn yield. MELD was designed as a world-class DeFi protocol, powered by the Cardano blockchain and smart contracts to ensure complete transparency and fairness for all parties (including both the minting and distribution of tokens). Recommended AI News: Salesforce Partner Spaulding Ridge Announces Expansion with Revenue Lifecycle Management Practice The MELD protocol was created to bind the on-chain (crypto) and the off-chain (fiat) worlds together, as well as uniting the many Blockchains and DeFi protocols. In doing so, MELD stakers will earn an APY through protocol fees and liquidity reward programs (up to 15% currently). The MELD token can be staked on the MELDapp to provide insurance for the MELD protocol. MELD enables low-friction transactions between crypto and fiat positions, while maintaining control of a customer’s owned digital assets. Specifically, MELD represents the first decentralized protocol that incorporates fiat loan capabilities into the cryptocurrency ecosystem. MELD was the first company ever to carry out a successful ISPO (Initial Stake Pool Offering), which attracted $1B US worth of crypto (in ADA tokens) in less than 3 months and helped the company raise $10M US for its own funding ($45M total raised to date via an additional private token sale). MELD is unique in terms of token launches as it already claims close to 40,000 token holders. ![]() Created to serve the more than 2 billion members of the world population that are either under-banked or lacking any banking capability whatsoever, MELD provides a range of financial tools and solutions built around leveraging cryptocurrency assets as collateral for fiat or cryptobased loans. Users will be open to choosing between a six-month lock or 12 months with a 12% and a 15% annual percentage rate, respectively.MELD is an innovative new startup launching with a mission to equalize the playing field between the financial ‘haves’ and the ‘have-nots’. Within five days, the ISPO had four more pools opened that filled up with 133 million ADA. Meld also leveraged the ISPO form of crowdfunding with the staking pool immediately filling up with 64 million ADA. Consequently, the platform raised $10 million for a funding round that entailed a private token sale. In laying the foundation for the protocol, Meld allowed token holders to stake over 620 million ADA, equivalent to about $1 billion. Your tokens always stay or your coins always stay in your wallet, but they’re locked up and they can’t be used for anything else,” said Ken Olling, CEO of Meld. So you’re pledging or you’re voting with your tokens. “In the case of Cardano, you do a soft link of the asset from your wallet to the stake pool. Through Meld’s model, users will deposit cryptocurrency that is to be locked in the account before borrowing loans based on the locked collateral with backing from Cardano. In just 3 days we've managed to get 100m $MELD staked in the #MELD protocol! □□ You guys are amazing □Īre you staking?□ #Cardano #CardanoCommunity /kqgbv9iqgS- MELD February 3, 2022
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