gMELD - FAQ
Your Ultimate Guide to gMELD: Unraveling the Key Aspects of MELD's Gas Token
MELD & gMELD explained - Infographic
- 1.What is gMELD? gMELD, also known as the MELD gas token, serves as the foundational medium for transaction fee payments within the MELD blockchain ecosystem. For the more technical users, gMELD and MELD are the equivalent of ETH and wETH on the Ethereum network. gMELD is used to pay for transactions and some other activities, while MELD is a 1:1 conversion totally decentralized to have an ERC20 compatible token that will be used for all smart contract interactions in the meld protocol, such as DAO and Lending and Borrowing
- 2.What can you do with gMELD? gMELD is used for paying for transaction fees on the MELD Blockchain and swapping gMELD for the ERC-20 version of MELD.
- 3.Can you convert gMELD to MELD? Can you convert MELD to gMELD, and when? gMELD and MELD tokens in the MELD network will be always available to be swapped 1:1 both in app.meld.com as well as directly interacting with the smart contract managing the conversion. Brigding gMELD to MELD tokens in other networks will be possible as soon as bridging is enabled for the MELD network.
- 4.What is the next step after getting gMELD? Once you have gMELD, there's no further immediate action needed. You're now equipped to cover transaction fees within the MELD ecosystem.
- 5.How can I earn gMELD? gMELD can be acquired by buying it from other users in the MELD network, or bridging from external networks. Temporarily, gMELD can also be acquired through the MELD airdrop campaign[https://www.meld.com/meld-airdrop]👉
- 6.How is the value of gMELD determined? The pricing of gMELD is straightforward and easy to understand - it maintains a 1:1 ratio with MELD.
- 7.Can gMELD be traded on exchanges? gMELD will be available to be bridged into MELD in of the supported networks of the token, where you will receive MELD tokens and operate with them to perform any action supported, including trading on exchanges