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MELD Lending Launched, Daedalus Updated -Breaking

by Mike Robinson

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Milestone Week for Cardano: Launch of MELD lending, Daedalus updated

This week, the blockchain saw major improvements. The network is expected to have increased data throughput and expanded the Cardano block sizes by 11%, up to 80kB, as of today.

On top of this milestone, Cardano’s parent company, IOHK, recently announced the release of a new version of Cardano’s open-source wallet ‘Daedalus.’

Updates wallet will support Cardano Node v1.33.0, and provide significant performance improvement. Cardano also achieved another important milestone this week, with 3 million wallets.

Positive news is that the Cardano (ADA), blockchain has been accelerating the adoption of decentralized lending.

MELD has launched its first DeFi lending protocol and borrowing protocol that is not custodial. It was based upon Cardano smart contracts. MELD, which is based in Singapore, offers a non-custodial DeFi liquidity program that can be used to borrow fiat against crypto collateral and earn interest on deposits. Its overall vision is to serve over 2 billion of the world’s unbanked population.

In the three days following its launch, almost 100 million MELD tokens native to the country were staked using the protocol.

With Meld, users can immediately claim a loan against their crypto holdings. This is instantly transferred to any of their banks around the globe. At the same time, the protocol allows users to lock their digital assets to MELD’s liquidity pools in order to generate yield. After the initial loan has been paid, users can make monthly repayments and have the collateralized assets returned.

In July 2021, the MELD protocol launched an ISPO (Initial Stock Pool (NASDAQ) Offering), which attracted more than $1 billion in contributions within three months.

MELD is not the only Cardano-based Decentralized Lending Protocol. ADALend has also announced a partnership to the Robatz Network. This software development company will develop and launch an innovative DeFi lending protocol using the Cardano Blockchain in the first quarter 2022.

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