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HomeDeFiThe DEFI system based on Cardano has attracted 100m native tokens in...

The DEFI system based on Cardano has attracted 100m native tokens in just 3 days

MELD is the world’s first decentralised cryptocurrency protocol that features fiat loan capability. MELD enables low-friction exchanges between crypto and fiat assets while maintaining user control over their digital assets.

 

  • Meld, a new decentralised financial system based on the Cardano (ADA) blockchain, secured 100 million of its native currency in just three days.
  • Meld, to provide the basis for the system, allowed token holders to contribute over 620 million ADA, over USD 1 billion. As a consequence, as part of a fundraising round, the company was able to raise USD 10 million through a private token sale.
  • Meld likewise employed the ISPO concept, with its staking pool quickly replenishing with 64 million ADA. In just five days, the ISPO had four new pools operational, totaling 133 million ADA.

During the ISPO, Cardano users invested over 620 million ADA, helping MELD to raise USD10 million. The private token sale brought in an extra USD35 million.

Tingo, an African mobile operator, has worked with the firm, as has Polygon. Meld’s app is now installed on Tingo mobile handsets, making it easier to reach new consumers. Meld also lets users construct “Melded assets,” which are tokenized representations of existing assets on the Cardano blockchain, in addition to cryptocurrency-backed and fiat currency loans.

Following the debut of popular DeFi platform SundaeSwap, Cardano developer Input Output advocated raising the network’s block size by 11 percent from 72 to 80 KB, according to CryptoGlobe. Following the introduction of SundawSwap, Cardano’s network traffic increased to over 90percent, and the total value locked on it increased by over 9,000percent. Cardano addresses reached a new all-time high of 4 million in December. After the price of ADA fell, large investors significantly increased their holdings.

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