Jan 8

5 min read

Multi-Chain: New Horizons for MELD

How Our Protocol is Embracing Interoperability

We believe that user experience is foundational in driving mass adoption for DeFi and evolving it into a more friendly and broadly adopted service. We understand that most users don’t need to know how a blockchain protocol is built as long as the product/service is easy, efficient, and safe. To this end,

MELD is going multi-chain!

This is a major step in our roadmap and will give users unfettered access to the most popular blockchains in the crypto ecosystem.

With this strategic move, users will benefit from the flexibility of using a variety of blockchains without having to learn the intricacies of each individual chain. Users will be able to access a single platform to track and manage their funds across multiple chains, saving them time and effort.

Achieving Greater Scale and Reach with Multi-Chain: MELD’s Vision
MELD — AvaLabs Subnet
Multichain Goals
Conclusion

Achieving Greater Scale and Reach with Multi-Chain: MELD’s Vision

With multi-chain comes increases in scale, and reach to new communities and audiences who are more comfortable using their preferred blockchain. By having a functional DeFi protocol on multiple blockchains, we can ensure that users have the best possible experience with MELD regardless of where they hold their tokens.

Going multi-chain fulfills a goal MELD has had from its inception; to bring liquidity together and use it efficiently. We want users to be able to draw from their bags, whether it be Bitcoin, Cardano, Avalanche, or Ethereum. You can bring your assets to the MELD protocol and start earning yield using a simple and straightforward interface in the MELDapp.

Multi-chain will help MELD stay competitive in the DeFi space by leveraging the best features of each blockchain. Each chain has different features and capabilities that can be used to our advantages, such as increased speed, lower fees, and different types of smart contract functions. By utilizing these features, we can provide a better user experience and offer more competitive yields.

Going multi-chain also allows us to reach a wider audience and tap into different markets. With multi-chain, we can provide users with access to more liquidity, more markets, and more opportunities to earn yield. This will help us to grow and expand our user base, and increase our reach to new communities.

MELD — AvaLabs Subnet

One of the first steps, and as a part of our EVM initiative towards implementing support for more blockchains outside of Cardano, we are launching the MELD protocol as a Subnet on Avalanche. This Subnet will allow us to customize the network and optimize performance to our platform’s needs and that of our users.

A big benefit of building on an EVM-compatible blockchain like Avalanche is composability. The majority of liquidity is held within these EVM protocols and there can be different opportunities, such as integrations, that can open by using the same programming language that these protocols are using.

You can read the full partnership article here 👇

MELD — Ava Labs Partnership

MELD partners with Ava Labs to create a custom subnet on the Avalanche blockchain ⛓

medium.com

Multichain Goals

1. Creation of our own MELD network

We are working on creating an AVAX Subnet using EVM technology that will allow us to customize how the network behaves and optimize performance to our needs. Using EVM will ensure composability and compatibility with development and user tools with years of battle-tested usage.

2. MELDapp crosschain wallet

The development of a web-based non-custodial wallet that allows users to seamlessly interact with a wide range of networks, abstracting the complexity of bridging and offering an integrated experience with all of our products.

3. MELD token

We want to assure everyone that this change does not affect the supply cap of the MELD token. We will have more details in regard to the MELD token when we are closer to deploying on Avalanche.

Conclusion

At MELD, we are excited to embark on this journey and to provide a revolutionary experience for users. We believe that multi-chain technology is the key to unlocking the DeFi space and bringing it one step closer to mass adoption. With our new protocol, users will benefit from the flexibility of using a variety of blockchains without having to learn the intricacies of each individual chain, and will be able to access a single platform to track and manage their funds across multiple chains. We look forward to seeing the amazing possibilities that our new protocol will bring!

MELD — Be Your Own Bank

We think it’s essential for everyone to gain control of their financial lives and have equal access to financial instruments used by professionals, not just centralized institutions, governments, or the 1%. We want to provide financial freedom and control to the masses, including the unbanked.

We have a long-term goal to enable the $15 trillion that is currently locked out of the global economy, including 2 billion individuals worldwide that are either underbanked or have no access to banking services whatsoever, access to these tools. These are the people that are paying the highest fees, getting the worst customer service, and they are the ones that are having the most problems.

Our vision is to create an ecosystem that empowers individuals to regain financial control by providing them with the tools and services they need to manage their money on their terms. Whether that be creating a collateralized debt position (CDP) with cryptocurrency, earning an interest return for lending fiat to borrowers, or even participating in reward incentive programs, we strive to provide our users with the functions they need to manage their own financial lives.