MELD is a non-custodial DeFi protocol that enables users to leverage their cryptocurrency holdings as collateral for low-interest fiat loans while maintaining control of their private keys. By integrating a multi-chain wallet with a Web3 neobank, MELD facilitates seamless transactions between crypto and traditional currencies, addressing the need for accessible financial services in a decentralized ecosystem.
Funding
Funding not disclosed
Founders
Product
Problem
Traditional financial systems often exclude individuals without access to traditional banking services, creating barriers to accessing loans and other financial products. Existing decentralized finance (DeFi) lending platforms primarily focus on cryptocurrency-based transactions, neglecting the need for seamless integration between crypto and fiat currencies.
Solution
MELD offers a non-custodial DeFi protocol that enables users to leverage their cryptocurrency holdings as collateral for low-interest fiat loans, all while retaining control of their private keys. By integrating a multi-chain wallet with a Web3 neobank, MELD facilitates seamless transactions between crypto and traditional currencies, addressing the need for accessible financial services in a decentralized ecosystem. The platform's smart contracts automate lending and borrowing processes, removing intermediaries and reducing fees. MELD aims to provide a safe, fast, and transparent system for lending and borrowing crypto and fiat currencies, accessible to anyone regardless of geographical boundaries.
Target Audience
MELD targets cryptocurrency investors and enthusiasts who need access to fiat currency without selling their crypto assets, as well as individuals who are unbanked or underserved by traditional financial institutions.
Features
- Non-custodial lending and borrowing protocol, allowing users to retain control of their private keys
- Multi-chain wallet integration for seamless transactions between crypto and fiat currencies
- Crypto-backed loans with competitive Annual Percentage Rates (APRs)
- Line of credit feature, enabling users to access fiat currency using their crypto holdings as collateral
- MELD debit card for spending fiat currency at any outlet that accepts VISA/MasterCard
- MELD App for easy management of Collateralized Debt Positions (CDPs)
- Support for multiple blockchain networks, including Cardano, Ethereum, and Binance Smart Chain
- MELDed Assets: ability to wrap assets from other blockchain networks into the Cardano network
- Impermanent loss protection for crypto depositors through integrated MELD Vaults