How MELD is Revolutionizing DeFi with Avalanche Subnet Technology 🔥
Are you looking for a way to enjoy the benefits of high-return cryptocurrency investments and the liquidity of fiat currencies? Do you want to leverage your crypto holdings for cash and credit without losing your private keys? Do you want to earn yield on your crypto while borrowing or lending? If you answered yes to any of these questions, then you might be interested in MELD, a DeFi protocol that aims to bridge the gap between traditional and crypto finance. 🌉
In this article, we will explain what MELD is, how it works, and why it is launching its suite of financial and web3 products on an Avalanche Subnet. We will also show you how you can get involved in MELD's Initial Stake Pool Offering (ISPO) and earn MELD tokens by staking ADA. Let's get started! 😊
What is MELD?
MELD is a DeFi protocol that allows users to securely lend and borrow both crypto and fiat currencies with ease and stake their MELD tokens for APY. MELD is built on the Cardano blockchain, a next-generation blockchain that delivers fast, safe, and cost-effective infrastructure for a new generation of DeFi. MELD uses smart contracts to ensure complete transparency and fairness for all parties involved in lending and borrowing transactions. 💯
MELD's vision is to create a banking stack for DeFi that enables users to access various financial services such as cash loans, credit lines, stable yield earnings, insurance, and more. MELD also aims to be interoperable with other DeFi protocols and services such as AMMs, LPs, NFTs, etc. MELD's goal is to bring liquidity together and use it efficiently across different blockchains and platforms. 🚀
How does MELD work?
MELD works by allowing users to lock their crypto assets into smart contracts as collateral and borrow fiat currencies against them at competitive interest rates. Users can also lend their fiat currencies to other users and earn interest on their loans. Users can choose between fixed or variable interest rates depending on their risk appetite and market conditions. Users can also stake their MELD tokens to earn yield from the protocol's liquidity pools. 🤑
MELD has a native token called MELD that serves as the governance token of the protocol and also as a reward token for lenders, borrowers, stakers, and liquidity providers. MELD has a total supply of 4 billion tokens, of which 50% will be distributed through an ISPO (more on that later), 20% will be reserved for the team and advisors, 15% will be allocated for marketing and partnerships, 10% will be used for liquidity provision, and 5% will be set aside for community initiatives. 🙌
Why is MELD launching on an Avalanche Subnet?
Avalanche is a highly scalable, open-source platform for launching decentralized applications and enterprise blockchain deployments in one interoperable ecosystem. Avalanche supports multiple virtual machines (VMs) that can run different types of smart contracts and applications on different subnets (sub-networks) within the Avalanche network. Subnets are customizable blockchains that can have their own validators, rules, incentives, and features. Subnets allow developers to create tailor-made solutions for their specific use cases and needs. 🙌
MELD is launching its suite of financial and web3 products on an Avalanche Subnet to leverage the high performance, low cost, and interoperability features of the Avalanche platform. By launching on an Avalanche Subnet, MELD can achieve faster transaction speeds, lower fees, and higher security than on other blockchains. MELD can also benefit from the cross-chain compatibility of Avalanche, which allows MELD to communicate and exchange value with other blockchains and protocols seamlessly. 🚀
MELD's Avalanche Subnet will be compatible with the Cardano blockchain, where MELD's core protocol is built. This means that users can access MELD's services on both blockchains and enjoy the best of both worlds. Users can also switch between blockchains depending on their preferences and needs. For example, users who want to borrow or lend fiat currencies can use MELD's Avalanche Subnet, while users who want to stake their MELD tokens or participate in governance can use MELD's Cardano protocol. 💯
How can I get involved in MELD's ISPO?
An ISPO is an Initial Stake Pool Offering, a new way of distributing tokens to the community by rewarding them for staking their ADA to a specific stake pool. Unlike an ICO or an IDO, an ISPO does not require users to pay anything upfront or risk losing their funds. Users simply delegate their ADA to a stake pool that supports the ISPO and receive tokens from the project as rewards. Users can also withdraw their ADA at any time without any penalty or lockup period. 😊
MELD is conducting an ISPO to distribute 2 billion MELD tokens to the community over a period of six months, starting from July 1st, 2021 and ending on December 31st, 2021. Users who want to participate in the ISPO need to delegate their ADA to one of the MELD stake pools using a compatible wallet such as Daedalus, Yoroi, or Nami. Users will receive MELD tokens as rewards every epoch (five days) based on the amount of ADA they staked and the performance of the stake pool. 🤑
MELD's ISPO is a great opportunity for users to support the development of the project and earn MELD tokens before they are listed on exchanges. Users can also benefit from the potential appreciation of both ADA and MELD tokens over time. Users who participate in the ISPO will also have early access to MELD's products and services and have a say in the future direction of the project through governance. 🙌
MELD is a DeFi protocol that aims to bridge the gap between traditional and crypto finance by allowing users to lend and borrow both crypto and fiat currencies with ease and stake their MELD tokens for APY. MELD is launching its suite of financial and web3 products on an Avalanche Subnet to leverage the high performance, low cost, and interoperability features of the Avalanche platform. MELD is also conducting an ISPO to distribute 2 billion MELD tokens to the community by rewarding them for staking their ADA to a specific stake pool. 🚀
If you are interested in MELD and want to learn more about the project, you can visit their website here, read their whitepaper here, join their Telegram group here, follow them on Twitter here, or subscribe to their newsletter here. You can also participate in their ISPO by delegating your ADA to one of their stake pools using this guide. 😊
Thank you for reading this article! We hope you found it informative and helpful. If you have any questions or feedback, please feel free to leave a comment below or contact us directly. We would love to hear from you! 😊