MELD

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.

Products

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Debit Card

Allows users to unlock the value in their crypto currencies and spend it as FIAT without having to go through the process of cashing it out for FIAT to make the transaction.

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Genius Loans

Here users collateralize their crypto and take out a loan with higher interest rates. The customer will only need to pay the interest on the loan, not the loan itself. MELD uses the yields generated by the staked collateral to pay off the loan itself. The length of time this takes varies on the market.

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Crypto-Backed Loans

Users can lock up their crypto as collateral and receive a loan for up to 50% of it. Loans are paid out in the FIAT of the users choosing; subject to availability. It is paid back in the same currency. Once the loan amount and interest are paid back the smart contract unlocks and returns the user’s crypto to them.

These loans are issued on a Loan to Value, LVT, ratio, meaning that if the collateral’s, i.e. the users crypto, value stays above 50% for more than three days then the user is asked to provide additional collateral to bring the loan back to 50% of the deposited value. If the LVT gets to 85% -meaning 85% of the locked crypto covers the loan instead of the initial 50% i.e. the crypto has dropped in value- then the crypto is liquidated and used to repay the loan, plus an extra 5% fee. The remaining is then transferred back to the user.

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Partnerships

MELD & Occam.Fi

A strategic partnership which allows users to use MELD's lending, borrowing, and AMM functionalities with OCC tokens. Users will be able to stake their crypto on the MELD platform and borrow OCC tokens. Occam.Fi will support MELD's stablecoins and other wrapped assets for performing swaps on the OccamX DEX. Both platforms with provide liquidity for their their own token on the other platform, increasing the depth of liquidity pools.


MELD wallet will be integrated with the Occam.fi ecosystem.


A joint research group will also be created to tackle the development of oracle infrastructure for Cardano DeFi and to explore turning credit market positions of $OCC on the MELDapp into NFTs for the secondary market.

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