A noncustodial banking protocol where, without a credit check, users can lock crypto up as collateral, and take cash loans or open a line of credit against it.
Whilst MELD is built on Cardano users can utilize their other crypto assets, mainly BTC, ETH, and BNB to begin with, through a wrapping service provided by MELD. The financial services offered by MELD are detailed below:
Funds in the liquidity pools are used to supply liquidity to various Decentralized Exchanges, DEXs, of the companies choosing. The rewards from this liquidity are distributed to both lenders, who deposited FIAT, and the loanees who put their crypto up as collateral for a loan.