1/2/2023 0 Comments Meld crypto![]() ![]() Users interact with the MELDapp via iOS™, Android or in the browser to easily access their digital assets to lend, borrow and manage the services offered by MELD. Margin calls and liquidation events work the same in the line of credit product as they do in the MELD Loan. The CBCL works similar to a fiat loan, where cryptocurrency is collateralized in a smart contract and 50% of the collateral value can be used as a line of credit. The CBCL works in conjunction with the MELD debit card where users can spend with their MELD Card both at point-of-sale and online. MELD also offers a Crypto-Backed Credit Line (CBCL), which provides a valuable and flexible tool for managing fiat cash requirements while only being exposed to interest on the amount of fiat used. The customer is only required to service the interest on the loan, while the yield generated from the crypto collateral pays down the principal. 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). 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. MELD is an innovative new startup launching today with a mission to equalize the playing field between the financial 'haves' and the 'have-nots'. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |