MELD — Matrixswap Partnership
MELD joins forces with Matrixswap — a virtual-AMM-based perpetual swaps trading protocol
MELD and Matrixswap are proud to announce a strategic partnership!
The purpose of this strategic partnership is to cooperate with Matrixswap and support each other’s tokens and protocols as primitives in the Cardano ecosystem. We will endeavor to coordinate sharing and provide access to composable functionality between our mutual protocols. This refers to the access, and use of, APIs and protocol information.
Matrixswap is a fully decentralized virtual-AMM-based perpetual swaps trading protocol deployed on the Polkadot and the Cardano blockchains. Unlike traditional AMMs, users can long or short any assets’ perpetual contracts with up to 25x leverage. Matrixswap aims to be a fully community-owned and governed Defi protocol.
Both Matrixswap and MELD are building composable protocols on both Cardano and Polygon in order to offer highly capital efficient services to the DeFi ecosystem. In this, both Matrixswap and MELD are highly aligned toward one another leading to this strategic partnerships agreement.
Joseph Liu, the Founder at Matrixswap says:
“Matrixswap looks forward to a long and fruitful partnership with MELD as we establish ourselves to be the early DeFi pioneers in the Cardano ecosystem. The vision of MELD’s team is captivating and we see ourselves fitting into their mission perfectly.”
Blockchain technology's key components are interoperability and composability and are foundational by all participants in this agreement. As such, Matrixswap and MELD see the value of collaborating…
🔀 Integration of Protocols
In this partnership MELD and Matrixswap will work together to mutually integrate our functionalities into each other’s protocols and support each other’s ecosystems. This including the following:
- Matrixswap to support the integration of DEX routing into the MELD risk oracle to enable web3 connectivity to Matrixswap
Matrixswap will gain access to MELD liquidity to offer more efficient token swaps
- Matrixswap to support the integration of perpetuals protocol into the MELD protocol to enable web3 connectivity to Matrixswap
- Matrixswap will recognize and support the MELD protocol tokens including:
$MELD, $mUSD, $mEUR, $mYEN, $mBTC, $mETH, and $mBNB
- MELD protocol to provide liquidity into Matrixswap’s services on the Cardano and Polygon networks for the trading of core assets (the pool size is to be agreed upon)
- MELD will recognize and support the Matrixswap protocol token, $MATRIX
Users will be able to lend and borrow $MATRIX within the lending/borrowing section of the MELDapp
- Expose MELD Vaults (LPs) to Matrixswap providing access to:
$MELD, $mUSD, $mEUR, $mYEN, $mBTC, $mETH, and $mBNB
💳 Integration of Matrixswap into MELD’s Credit Markets
- Matrixswap provides access into MELDs lending markets for traders to be able to seamlessly borrow and lend(the pool size to be agreed). The narrative here is composability, the cornerstone of DeFi
- MELD will provide API access and documentation for the use of the MELD protocol with the Matrixswap protocol
As Cardano is a growing ecosystem and the maturity of blockchains increases, the need for bridges to other chains becomes more important and expected by users.
We believe that the Polygon technology is aligned with our priorities and the technical priorities of the Cardano blockchain providing low transaction latency and low transaction fees while still maintaining a high degree of security. The capital efficiency that Polygon offers is essential to building in the DeFi space. Cardano and Etherium are the two largest smart contract-enabled layer one blockchains with a combined market cap of 450 billion dollars in liquidity. We believe this liquidity should be able to be deployed anywhere and not limited to one single blockchain.
Additionally, as DeFi grows on both Ethereum and Cardano, capital efficiency will become more and more important to protocols operating on these blockchains. We believe the best way to reach the goals of capital-efficient application of liquidity across multiple blockchains can be achieved by building a polygon bridge between Cardano and Ethereum.
- Matrixswap to provide feedback and insight into the ADAmatic bridge development.
- Matrixswap will run an ADAmatic node with the integration of whitelisting opportunities for other partners
- Provide documentation, early access, and notices regarding the development of ADAmatic
- Provide code, documentation, and support for ADAmatic
🔮 Further Collaboration
- MELD is offering Matrixswap to contribute to the development of ADAmatic in creating a polygon bridge between Ethereum and Cardano for the emerging DeFi space
We are thrilled to have Matrixswap as our latest strategic partner. Matrixswap’s virtual-AMM-based perpetual swaps trading protocol is a great integration as it will provide more exposure towards our liquidity (MELD Vaults), generating more revenue for $MELD users, and providing more utility for $MELD holders.
Apart from protocol integrations, we are excited to join forces with the Matrixswap engineers to help tackle various Cardano-based Ecosystem problems, including the development of Oracle infrastructure for Cardano’s DeFi landscape.
Looking forward to the future! 🚀
MELD — Have it all
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, to access 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.