A look to the future of what’s to come 🔮
One of the newest additions to the MELDapp will be a bridging solution that will be able to send ADA and other assets to and from Polygon. The goal with Akamon is to improve capital efficiency and token choices from different networks for the MELD protocol and the broader DeFi ecosystem. Our core product aims to bridge crypto and fiat and decentralize the process as much as possible. It makes much sense to extend the reach in the crypto world while making sure tight standards are met throughout the whole flow.
Some of you may be wondering, “How can I take advantage of this!” 🤑 💸 I’d say, keep your eyes open for liquidity mining rewards programs starting for ADA on Polygon, and other chains soon!
We’ve seen in the past companies like Polygon offering $85M+ USD in rewards to AAVE and other protocols to promote the use of their sidechains while capturing liquidity for an extended period of time.
Cardano, at the time of writing, has a market cap of $26B+ USD. This liquidity is massively valuable for these protocols, and it should be interesting to see what arises, in terms of liquidity rewards programs, as wrapped ADA crosses into Polygon and Ethereum markets!
What’s to come 🔮
For now, the number one task is to complete the Akamon integration for the first testnet launch in May. The MELD Governance suite of variable staking, protocol fees sharing, and voting on protocol proposals are right after. As we release additional functionalities, we also plan to release more wallet support on Cardano, Polygon, and more networks as Akamon grows its reach.
We have been spending a significant amount of effort on designing a suite of DeFi protocols on top of our lending foundation. Crypto-to-crypto has been more or less saturated recently, so we cannot simply develop an Aave or Anchor clone on Cardano. Instead, we have explored new ways to utilise smart contracts to enable under-collateralised loans. We have been working on diverse ideas ranging from a credit market with gamification, and asset management protocol, all the way to a brand new DeFi standard on UTxO that allows under-collateralised loans that do not leave the contracts that support it.
Akamon White Paper
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.