MELD, a decentralized finance (DeFi) project, has announced the launch of its suite of financial and web3 products as an Avalanche Subnet. The move aims to bridge the gap between crypto and traditional finance and empower financial independence in the DeFi ecosystem.
According to Ken Olling, CEO of MELD, the expansion enables the project to provide a seamless and user-friendly interface for users to access and manage their crypto and fiat assets, giving them greater control and financial freedom. By launching as an Avalanche Subnet, MELD will have more control over its security infrastructure, opportunities for customization, and increased scalability and performance without sacrificing interoperability.
MELD also launched its MELDapp, a non-custodial, multichain wallet that supports BSC, Avalanche, Cardano, BTC, and the MELD network. The app enables users to borrow fiat currencies (USD and EUR) against their digital assets without having to sell their digital assets, expose their private keys, or provide custody of their assets to a third-party.
The launch of MELD’s suite of financial and web3 products as an Avalanche Subnet comes amidst growing trends in the DeFi market, such as the increased mainstream adoption of DeFi, the rise of DeFi insurance products, and the expansion of DeFi lending and borrowing platforms. MELD aims to support these trends by enabling a harmonious financial ecosystem, leveraging blockchain technology, and DeFi innovation.
Ken Olling, CEO of MELD, shared his motivation behind starting the project, stating that MELD wants to provide financial services to everyone in a fair and trustless manner, regardless of their location, background, or status. He believes that traditional financial systems and crypto do not have to be in conflict with each other but rather can complement and enhance each other.
The MELD Subnet will use the MELD token to pay for transaction fees, and the project hopes to create a self-sustaining financial ecosystem that rewards all participants, including users, developers, and liquidity providers. As the DeFi market continues to grow, MELD’s suite of financial and web3 products as an Avalanche Subnet will likely be a significant addition to the ecosystem.
Source: https://azcoinnews.com/meld-launches-financial-and-web3-products-on-avalanche-subnet.html
