We’d like to announce our newest liquidity-providing partnership with Nervos, a layer 1 blockchain!
We are super excited to announce that we will be utilizing Nervos’ Force Bridge, the cross-chain bridge connecting the Nervos ecosystem to other public blockchains, to bring over Nervos-based assets to the Cardano Ecosystem.
First starting with the Nervos blockchain’s native token — $CKB!
About Nervos
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The Nervos Network is a public blockchain ecosystem — similar to that of Ethereum — consisting of a collection of different protocols and is governed by the $CKB token. (Read more about $CKB here)
The Nervos Common Knowledge Base (CKB) is the layer 1, proof of work, public permissionless blockchain protocol of the Nervos Network. It allows any crypto-based asset to be stored with the security, immutability, and permissionless nature of Bitcoin while enabling smart contracts and layer 2 scaling. Its unique crypto-economic model is designed to better align the interests of users, developers, and miners as compared to first-generation blockchains.
Nervos — Force Bridge
in June 2021, Nervos announced it was building a bridge to Cardano as the latest development update in its ongoing research partnership with IOHK, the developers of the Cardano blockchain. Once completed, the bridge will allow users to use Nervos and Cardano’s native currencies ($CKB and $ADA, respectively) interchangeably, as well as create their own user-defined tokens across both blockchains.
Read more about the Force Bridge 👉 Nervos launches Force Bridge
Nervos to Provide Liquidity for MELD via Force Bridge
Once completed, DeFi protocol MELD will utilize the cross-chain bridge to Cardano to access liquidity for its decentralized lending solutions
The Force Bridge opens up access to liquidity available on other ecosystems, including Nervos Network and Ethereum. For many projects building on Cardano, such as MELD, access to liquidity is vital to its services and tools.
As part of the partnership, Nervos will provide technical support to ensure MELD can easily access and use the Force Bridge.
“Working with emerging projects like MELD is an important part of our global strategy as we build out our network and continue to expand Force Bridge’s use across the entire blockchain ecosystem,” said Kevin Wang, co-founder at Nervos. “We’re excited to work with MELD as the team builds out its lending platform on the Cardano chain.”
Capital efficiency, composability, and the ability to bridge assets from different blockchains are fundamental to the MELD business model — with initiatives in motion already such as ADAmatic.
“The expansion of liquidity sources is key for a lending and borrowing protocol like MELD, and we are thrilled to be partnering with a blockchain such as Nervos.” said Ken Olling, CEO at MELD. “This opens up the doors for massive transfers of liquidity between blockchains and we hope to be using the Force Bridge as we expand our protocol into 2022.”
Looking forward to a bright and productive future with Nervos! 🥳️ 🚀
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.
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