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Products & Services
MELDs offering covers lending and borrowing with fiat and cryptocurrency and innovate for greater capital efficiency.
Initially, MELD will provide crypto assets from other Blockchain networks in the Cardano network to be able to capture the liquidity and use it in lending and borrowing. This includes Bitcoin, Ethereum, and Binance Coins. 
In the future, we will be expanding into different areas of the ecosystem and are looking into partnerships with some established DeFi protocols that we think can provide our users with new products and services never before seen by the industry.
Until that point, we will be offering two products along with three services:
Products
MELD Debit Card
The goal of the MELD debit card is to give customers financial control over their lives by unlocking the value in their cryptocurrencies and spending it in fiat anywhere VISA/MasterCard is accepted. No more worrying about exchanges, account verification, or obtaining a bank account. Our goal is to provide our users with a simple and hassle-free solution to the current problems they face when dealing with digital currency. For the first time ever, MELD protocol users will be able to use their cryptocurrencies to purchase goods or services without having to cash out to fiat currency.

MELDapp
The MELDapp sits at the core of the MELD protocol and is designed to be an all-inclusive consumer/retail-friendly experience. The app makes the process of lending fiat, borrowing fiat, and depositing crypto easy to understand and simple to work with. 
The Most Usable and Beautiful Crypto Wallet in the World
Customers using the app are able to transfer or link crypto assets to different blockchains and wallets such as MetaMask with a click of a button. Integrating a seamless user experience allows users to be able to create and deploy smart contracts from a straightforward and intuitive user interface.
Being integrated with Cardano and Polygon allows us to greatly reduce gas fees for transactions and any other protocol interactions performed within the app.
The MELDapp will be available on:
iOS
Android
Chrome Extensions
Services
Crypto-Backed Loan
Users have different needs when it comes to finances. The first service MELD will offer is instant crypto-backed loans. First, a user will deposit their cryptocurrency to MELD as collateral. The protocol will then use the deposited cryptocurrency to create a collateralized debt position (CDP). A smart contract records the terms of the loan and registers it on the blockchain. Once confirmed, the protocol will execute a wire transfer directly to their bank account. Users will be able to manage their CDP directly from the MELDapp. 
MELD can provide a much more capital-efficient CDP than any competitor on the market today due to the autonomous and transparent nature of the protocol. All contracts and terms are open and available for evaluation and auditing. All parts of the process automated, including the KYC/AML MELD can process all states of a loan in minutes and execute the smart contract in seconds. 
Users pay back their loans in fiat, and it is registered in the MELDapp on the blockchain. This level of capital efficiency means MELD can offer more competitive rates and react to market conditions in seconds.
Loans are issued at a Loan to Value (LTV) ratio of 50%. If the collateral value falls to LTV 65% or stays above 50% for more than three days, a margin call is made. The customer is requested to provide additional collateral to bring the loan back to an LTV of 50%. When the LTV reaches 75% or stays above 65% for more than three days, the customer is requested to add liquidity to bring the LTV back down, and they are warned that if the LTV reaches 85%, they will be liquidated. If the LTV reaches 85%, a liquidation event happens where the collateral is converted to USD stable coins equivalent to fiat loan plus 5%. The balance of the collateral is transferred back to the customer, and the smart contract is completed. The customers keep the fiat they borrowed. 
This protocol aims to innovate in the debt markets and create extremely capital-efficient products and services powered by blockchain technology and promoting availability, transparency, and empowerment. This will allow the protocol to provide the most attractive borrowing rates to customers worldwide.
Genius Loan
Following this idea of extreme innovation MELD will be offering a self-repaying loan. The customer collateralizes their cryptocurrency and takes out a loan with a slightly higher interest rate. The customer is only required to service the interest on the loan, they can but do not have to pay on the principle. In the MELD Genius loan part of the yield generated by the collateral is then used to pay down the principal on the loan. Based on our models it will take between 3 and 6 years to repay a $100,000 loan depending on the market conditions. 
This product is able to offer users self-repaying loans by capturing some of the trading fees (APY), generated by DEX aggregators utilizing our liquidity pools for swaps. These fees are used to repay the loan over time. This type of structure is unique to the financial industry and is only able to be brought about by the decentralized nature of DeFi.
Crypto-Backed Line of Credit
The Crypto-Backed Credit Line (CBCL) provides a valuable and flexible tool for managing fiat cash requirements while only being exposed to interest on the amount of fiat used. The CBCL works in conjunction with the MELD debit card where users can spend with their MELD Card both at point-of-sale and online. The CBCL works similar to a fiat loan where cryptocurrency is collateralized in a smart contract and 50% of the collateral value can be used as a line of credit. Margin calls and liquidation events work the same in the line of credit product as they do in the MELD Loan.
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Crypto-Backed Line of Credit