Cardano Dapps Worth Looking Into: Meld

Cardano enabled smart contract capability on September 12th, 2021, and there are already exciting dApps being built on Its Blockchain! In this article series, we will take a look at some of the most exciting dApps that are being developed. In this piece we will be discussing Meld.

What is Meld

Meld is a lending dApp which is similar to Aave on the Ethereum network. It will allow its users to lend and borrow various tokens on Cardano. Meld, however, offers some new and exciting features which we haven’t yet seen with similar lending dApps.

What Makes Meld Different

The biggest difference between Meld and similar lending dApps on other blockchains, is that meld will allow users to lend and borrow fiat currencies, in addition to cryptocurrencies. This feature alone will give Meld a significant advantage over other decentralized lending apps, as it bridges a gap that has long needed bridged between DeFi and traditional finance. In addition to allowing the borrowing and lending of fiat currencies, Meld has plans to adopt some of the most popular features which are currently offered by other cryptocurrency platforms.

In a similar fashion to Crypto.com, Meld plans to eventually offer a physical Meld debit card. Unlike many of the crypto-debit card platforms that are currently on the market, the Meld card gives its users the option to spend their crypto directly, in addition to spending their fiat currencies. Although not much more is known about the Meld debit card, the developers of the project have alluded to the possibility that there will be additional features added to the card in time. One of the most exciting features which we can expect to see sooner than later is the addition of a Meld app for Apple and Android phones.

This is a diagram from the Meld development team, detailing exactly how the lending platform will operate

This is a diagram from the Meld development team, detailing the tokenomics of the Meld token, MELD

Meld Launch Date

Although Meld is still yet to be released, the project’s development team is confident that we will see the official launch sooner than later. According to the Meld roadmap, the official launch and genesis MELD token event date is set for January 31st, 2022! Although not every feature of the project will be available initially, we are extremely excited to see how meld performs, as well as how the integration of Meld and similar projects will affect the price of Cardano ADA!

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