MELD and VENT Present ADAmatic
MELD and VENT Team Up With Polygon to Build a Two-Way Bridge From Polygon to Cardano
Built on Polygon, ADAmatic is a two-way bridge to bridge your Polygon-based assets to Cardano, and back. Everyone can use ADAmatic independently of MELD or VENTs ecosystem, but we are building it to bring more token choices and liquidity into Cardano for users, as well as giving Polygon-based DeFi users on-ramps to the unique, DeFi-based financial services that only MELD offers!
As part of a recent strategic partnership with Vent Finance, the ADAmatic bridge is one of the first products VENT and MELD are bringing to market. This is a much-needed addition for not just MELD, but also the greater Cardano Ecosystem.
The objective is to leverage the highly scalable and efficient infrastructure that Polygon and Cardano are providing, to support the creation of business opportunities that will benefit from cross-chain liquidity enabled by the ADAmatic bridge. DeFi projects on Polygon have been growing at a staggering rate and Cardano already has an ecosystem of up-and-coming projects that are ready to roll out as soon as smart contracts are live. We strongly believe that these ecosystems will become the powerhouse of DeFi and are confident that ADAmatic will play a key role in enabling cross-chain functionality for these dApps, like for projects launching on the VentUp Launchpad or the MELDed Assets service.
- Decentralized and Secure porting of assets and smart contract interactions
- Cross-chain business opportunities — for project creators
- Cross-chain yield generation opportunities — for community
- Cross-chain liquidity — for everyone!
If you are familiar with using bridges in DeFi, you’ll know that bridges allow interoperability between blockchain networks. ADAmatic merely adds that functionality from Polygon to Cardano. This applies not only to $MATIC, but to any Polygon and Ethereum-based assets. Bridging to other chains is a core interoperability function that will allow the transition towards Cardano, accelerate the adoption of Native dApps, and bring more liquidity to the chain.
More technically, if you need to bridge your $MATIC over to Cardano, ADAmatic takes your $MATIC, locks it on the Polygon blockchain, and mints you mMATIC on the Cardano blockchain in exchange. mMATIC is a “MELDed Asset”, i.e. a wrapped version of MATIC that lives on the Cardano blockchain. Our Oracle aligns the price of your newly-minted mMATIC with the price of MATIC. At any given time, you can get back your locked MATIC by burning, to “bridge back” the mMATIC that you minted.
This marks the beginning of an exciting journey for ADAmatic, as we continue to discover new opportunities within the Cardano and Polygon space. We are grateful to have the support and guidance of Polygon for this project and hope to bring on new partners in the coming months.
Please stay tuned for more updates!
Stay Tuned — MELD
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.