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Holders of Cardano Tokens Show Strong Support for New DeFi Platform
MELD, a DeFi platform, piques the curiosity of the Cardano community, with Cardano (ADA) also gaining traction as the number of ADA wallet holders reaches 3 million.
MELD (MELD) introduced a DeFi platform for the unbanked on Cardano late last week (ADA).
What exactly is MELD?
MELD is a non-custodial, DeFi banking protocol. Users may safely borrow and lend both cryptocurrency and fiat currency (USD and EUR), while MELD token holders can stake and receive yields and rewards from MELD staking pools.
MELD provides crypto holders with crypto-collateralized cash loans or credit lines, with interest payable based on usage. Transparency and fairness are provided by the platform through the usage of smart contracts.
While the MELD platform is now focused on DeFi, users will soon be able to mint Bank Manager NFTs. Those who took part in the Initial Stake Pool Offering (ISPO) will be able to create Bank Manager NFTs.
Interest in MELD Surges at Launch
MELD tweeted three days after its introduction that Cardano (ADA) users have invested 100 million MELD tokens. While the MELD tokens are now locked in, stakers can utilize the tokens as collateral for fiat…
