Meld is one of the best cryptocurrency loan platforms on the planet due to its massive technology and its unique features. Meld is a non-custodial cryptocurrency loan and lending protocol that’s built on top of Cardano blockchain. They successfully raised $45 million, according to VentureBeat
Meld allows its users to use cryptocurrency as collateral in order to get fiat loans. Meld’s advantage is that you can maintain control of your digital assets while enabling transactions between crypto and fiat positions. Meld’s fiat loans are fast and simple, you will be able to get the loans instantly after you lock your crypto collaterals.
The unique product that Meld offers is what they call Genius Loan. With this, Meld users can take out a loan with slightly-higher interest rate, and the users only have to pay the interest, while the principal is paid through the yield generated by the collateral. The self-repaying loans are made possible thanks to the trading fees from the DEX aggregators using Meld’s liquidity pools.
Another big advantage of the Meld protocol is the fact that it’s powered by Cardano blockchain, which significantly reduces transaction fees compared to other DeFi protocols on other chains. The fact that Meld is non-custodial makes it better than some other names mentioned below, because we definitely want to avoid centralized platforms if possible.
Meld has a strong team and the core members have proven track records. Click here to try Meld DeFi app