This is the first MELD Roadmap update. Since our launch on July 1st MELD has been a white knuckled ride and has completely blown away any of our wildest expectations. From the ISPO to the partnerships and community we have been able to work with, it’s been non-stop hard work and we have enjoyed every minute of it.
This update is largely a result of being a victim of our own success. The schedule laid out below pushes our deliverables by a few months due to two major factors. First, the ambition level set by Ken on the MELDapp has proven challenging to find the right team to be able to execute on such a high level. While the team is being put together and we have a few key members, recruiting and onboarding has taken much more time than expected. Some of this is due to finding talent and some is due to the unexpected success of MELD.
This issue is being addressed now the core team is in place and the MELDapp development is well underway. But due to its late start, The delivery will coincide with the MELD protocol launch.
Secondly, we have seen so much interest in MELD from partners such as Polygon and the development of more than ten partnerships both inside and outside the Cardano ecosystem. Some of these partnerships have caused us to adjust our technical scope to include elements we had not planned for and resulted in architecture changes and refactoring. Fortunately, many new challenges have forced us to innovate new economics designs on the UTXO ledger. MELD is going to achieve a level of capital efficiency never seen before on the Blockchain.
This said, we have had a great deal of progress across the whole of the Cardano smart contract development. We continued to contribute to open-source projects in the whole Cardano ecosystem, mainly around the Plutus repository. We have partnered with key developers in the Cardano ecosystems such as Tweag working with security research in Hachi. We expect to release the first security toolset with a chain index, Racket transpiler, and symbolic execution in the coming weeks. We also have a partnership with Obsidian Systems working together on the ADAmatic bridge. Our economics team is building forecast models and proving new specialized models for UTXO. The smart contract team has completed the first version of mFiat, the liquidation system, and the Proof-of-Concept for lending and borrowing, not to mention multiple research efforts that will give MELD a competitive advantage. We have, for example, proposed three different approaches to the concurrency challenge on the UTXO ledger model. Those were three different draft papers and two proof-of-concepts within weeks of an arbitrary technical criticism.
Please find a full technical progress update in our technical journal 👉 HERE
MELD updated roadmap 👉 HERE