Friday, 25th june, 2pm UTC

MOD: Hi everyone and welcome to the AMA on Forum Crypto Moonlight Official Group. We’re honored to host an Ask-Me-Anything session with MELD

MOD: Hi Mr ken olling from MELD team, thank you for having AMA in here. Will you say Hi to our audience?

Ken Olling: Yes. I’m super happy to be here and i’m really looking forward to the questions

MOD: Thank you for  greeting our members

Before we have today’s AMA , please introduce yourself first Mr Ken Olling

Ken Olling :  My name is Ken Olling. I’m the Co-founder of MELD. My Co-founder Hai and I started working on MELD in early 2020 and we launched it offically 2 months ago.

I have a recent background in Technology where I have been an Enterprise Architect and running software teams for 12 years.

Before that I was a designer and I have had 5 agencies and worked all over the world for some of the biggest brands.

I started in crypto in 2017 and work with a few startups and then stopped until 2019 when i saw the potential of DeFi.

My Co-Founder Hai Nguyen Quang has been working in crypto for the past 5 years and has worked on several projects such as Indigo protocol and Tezos

He is a Haskell programmer.

Together we developed the idea of building the banking stake on the Cardano blockchain.

We have been building the core technology for the past year and are really excited to join the Cardano and DeFi communities to launch our protocol

MELD is a DeFi protocol that lets people use their crypto and take out a fiat (USD, UER) loan.

We think this is super important and is a needed addition to the DeFi space.

This allows you to keep your crypto and at the same time get cash to be able to live your file. Get married, buy a car or house or start a business.

MOD: Thank you for introducing yourself to our community..

Ken Olling : Sure, looking forward to some HARD questions!

MOD: ok let’s start the AMA today

MOD: There are 3 segments in this AMA today

Segment 1: project introduction

Segment 2: Question from Twitter

Segment 3: Free asking


Q1. What is MELD and how does it work? What technology which is used MELD ?

Ken Olling : MELD provide the core bank-like services on the blockchain.

This is primarily related to lending and borrowing.

You can you use your crypto assets (ADA, BTC, ETH and BNB) as collateral to take our a loan in fiat (USD and EUR) or in crypto.

As part of this process we also are bringing MELDed (wrapped) assets to the cardano blockchain. mETH, mTBC, mBNB, mUSD and mEUR.

With the MELDapp on iOS, Android and as a chrome extension you can interact with the protocol anywhere in the world.

You can link your MetaMask to is and you can transfer assets to it. Once you have done this, you can do a few things.

We are not just providing basic lending and borrowing and APY opportunities! We are also introducing some super unique and new products to the market.

The first is what we can a Genius loan. This is a loan that pays itself off.

You only pay the interest on the loan, not thew principal! The principal PAYS ITSELF OFF!!!

Based on our models it will take between 3 and 5 years to pay off a Genius loan.

And don’t forget the interest in a fiat loan is tax deductible in most countries.

This makes the loan practically free (as in no additional cost)

We are super fired up about the fact that DeFi is so new and open to these new ideas and we can innovate in ways the financial industry has never been able to.

The second product i can talk a little about is a different kind of loan.

In this loan you can use ADA as collateral and take out a mUSD loan. In this case you can take out up to 90% of the collateral value. So if you use $1000 in ADA you can take out $900 in mUSD.

And the loan is zero interest.

Actually this is not true.

How can a loan be Zero. You are right it’s not a zero interest loan.

It’s a -1% interest loan!!!!

So we will be launching our platform in November with a -1% interest loan that you can take out in a stable coin.

This is really what MELD is all about

We are here to build a new type of financial system. a system built on good ideas that are both very profitable and very good for our customers.

Q2. Security is very important in a project to protect the rights of the user, what security does MELD implement??

Ken Olling :  So we can discuss security on 3 levels.

First in regards to privacy. MELD is a decentralized, trustless and non-custodial protocol. We don’t require user account or KYC for anything except for the crypto to fiat loan.

The reason we need KYC for the fiat loan is that if MELD wires money to your bank account. They will not release it if you don’t have the appropriate KYC/AML documents.

For crypto to crypto we require nothing.

All of our competition requires US based KYC and AML. We are not based int he US. We are based in Singapore and Switzerland.

Second is technical security. Our team has been contributing to the Cardano source code for the past 3 years. They are very focused on building the strongest and most secure solution possible. We have 2 full time security engineering on staff, one of them comes from Apple.

In addition to that we do auditing of the smart contracts in the test net environment before deployment and also while live and after the fact.

Third, we have a security oracle that looks at user behavior, market behavior and network behavior to help adjust different parameter in the system to run safer and more efficient.

Security is the No 1 priority with user experience a close second.

Q3. What are the advantages MELD  compared to other loan businesses .. ??

Ken Olling : There are a few big advantages.

The first is of course that you don’t have to give up your crypto keys. You keep your crypto. So no matter what happens politically, you are safe.

Second with MELD you can see what is going on with your loan, your payments, the interest rate etc. EVERYTHING is transparent except you identity, that is private.

Third you do KYC and AML specific to YOUR country, not for the US.

Fourth if you use the MELD protocol you get MELD tokens that you can stake and yearn APY in our MELD staking pool!!!!

Fifth you get access to new and really interesting products you will never find in the CeFi space.

When you use MELD you can lend and borrow but yuo can also yearn in many ways.

Q4. What are the future plans for the MELDapp Program ?

Ken Olling : MELD being developed around two targets. One short term and one long term. The short term goals is to bridge the gap between crypto and fiat worlds and innovate in the DeFi space to provide really new and unique products to market.

The long term goal for 2024. We want to be a major payer in the financial world as a whole and bring the power of DeFi to institutions.

The first thing we are doing is we will be launching an ISPO.

An ISPO is a completely new way for the community to get involved in MELD.

ISPO stands for Initial Stake Pool Offering.

In the MELD ISPO you can stake ADA in our stake pool and you will get MELD token rewards based on the amount time you stake.

This has never been done before. It’s the worlds first ISPO and it’s only possible on the Cardano blockchain.

The ISPO will run from July 1 for 32 Epoch. An Epoch is 5 days.

If you stake your ADA for the full ISPO period then you will get approximately 2 MELD for 1 ADA staked.

If you stake on July 1 and you add 1000 ADA then at the end of the ISPO on December 8th you will get 2000 MELD tokens

This is the most fare, the most community friendly and safest way you can be involved in a crypto project.

and MELD will be the first to do it in the world!!!!!

If you want to learn more please check out the links below.

Read about our upcoming ISPO for our MELD token πŸ‘‰ HERE{}

Sign up to our ISPO πŸ‘‰ HERE{}

Learn how to delegate ADA to MELD Cardano node πŸ‘‰ HERE{}

Q5. We know there are many Blockchains in the Cryptocurrency world, why MELD prefers Ethereum Blockchain over other Blockchains ? 

Ken Olling : Well….

First. We are not on Ethereum. We love ETH but we are building on Cardano.

As to why we chose Cardano as the blockchain of choice. This was originally because of the high fees and speed limitations of L1 on Ethereum.

but after we chose Cardano we saw that we could to a lot more interesting things with the cardano blockchain that would be super hard or impossible to do on Ethereum right now.

For example we would never be able to have an ISPO like we do on Cardano.

We love Ethereum and we are building a bridge between ETH and Cardano with Polygons L2 solution.

Also Cardano is very new and have a huge amount of liquidity locked in it. We want to be able to free up that liquidity and be able to put it to work very efficiently.

We will be launching MELD at the same time as Cardano launches their support for smart contracts.


Q1. From @NellahThai How safe is MELD? Can you provide us evidence of not loosing our money and personal information? What plan are made to add value to your project? Are you going to list your token on major exchanges for more liquidation and volume?

Ken Olling :  I think I’ve covered the security part pretty well above. As to the listings we are planning on listing on at least 2 exchanges by the end of the year. Right now the target is list on KuCoin and and with that in mind we are having early discussions with them.

The value of the MELD tokens can be broken into 2 discrete parts. First in the total locked value (TLV) in the protocol. this would be the total amount of liquidity, loans, LPs and staking pool.

Second is the discounted cash flows from the Staking of the MELD token. In the MELD staking pool you earn 40% of all fees on the protocol.

Q2. From @GokulR73380881 : Can you share the achievements the team has made so far ? what are the major achievement  target

@MELD_labs  yet to achieve . If possible also share your roadmap.

Ken Olling :  Sure.

Here you can see our roadmap and it’s updated regularly.

Our plans right now are to launch the MELDapp on iOS and Android over summer so people can begin to interact with the protocol already.

we are soon going to launch the worlds first ISPO on July 1.

and then we will be launching the token and lending at the same time as Cardano’s release. This date is not set yet, but it will be between AUg and Nov I expect.

Q3. From @Patternboy11 : Will MELD token holders be able to participate in the MELD Community Fund program and global governance of the Triall Ecosystem? where did the funds come from?

Ken Olling :  yes, in a big way.

If you join the ISPO you will get MELD tokens and they will cost you nothing.

In addition to that we will be having a referrals program start in Mind July.

Once you get your MELD tokens you will be able to stake them in the MELD staking pool and yearn yield.

As to governance. MELD token holders will be able to vote on changes to the protocol.

You will need to have held your tokens for at least 4 months in order to vote this way we can minimize whales from manipulating the protocol and it’s behavior.

You can also stake your MELD in order to submit MIPs (MELD improvement proposals).

Q4. From @zoro24608959 : Many new projects develop well at first, but then fail to achieve good results. How will you manage and develop your project to gain a position in the market and become a good project in the trading industry?

Ken Olling : There are 3 key elements to our success. First is that we can attract liquidity to the protocol and with great rewards and good cashflows I think we can do that.

Second we will have very unique and exciting products in the market like a negative interest rate loan.

And third we need to be able have a way for users to capture some of the cashflows in the protocol. We do this through the MELD staking pools.

We believe that when a bear market comes people will need to leverage their crypto and get fiat loans more than ever. We we think our products will have a great market fit going forward.

Q5. From @PotokGadang : #MELD has launched a series of products and services that seem to be the substitutes of the current banking system, such as wallet, card, credit, and earn. Can you explain how these products work and how they can resolve the problems of current banks?

Ken Olling : Capital efficiency.

The blockchain provides a base framework for the implementation the same functionality as banks have but we have no technical debt. We can invest and we are transparent. we will still work with services like Visa and MasterCard in order to offer debit cards and these types of products. But other than this we will rely on the DeFi community for our infrastructure.

We will not be a bank. We will provide the majority of the functionality banks can offer. As a customer in the banking world you don’t have access to most of the tools that banks have at their disposal. In the DeFi space everyone has access to this sophisticated and powerful tools. We want to make sure everyone gets access to this and can make their lives better.


Q. From @hansulo: Can you describe about what are the use of your token in your platform? how do i possible to get your token?

Ken Olling : The MELD tokens is used for the following:

1. Paying fees on the protocol such as MELDed assets

2. Staking in the MELD stake pools where ytou earn 40% of all fees on the protocol.

3. Providing liquidity in the MELD vaults where you earn APY

4. Governance and voting on changes to the protocol.

you can get the MELD token by participating in the MELD ISPO. Sign up here:

Q2. From @barovatari1: If anybody think that your project really likes a scam project, and they can’t trust your project. How do you make them believe in your project?

Ken Olling :  Please do your own research. Please look at the team, our background. Who are they and look into their professional histories. All of the key members of the team have long professional experience in crypto and as entrepreneurs. Please look at our advisers, these are not people that would put their name to a bad project.

Q3 From @rased8923: Are you a global project or local project? Can anybody anywhere use Your project without any restrictions??

Ken Olling : We are a very global project. The team is all over the world so are the investors. We will be offering our solution everywhere except the USA to start and at a later date we will offer it to the US.

Q4 From @Denybela: When combining fiat lending on a DeFi platform, security is a very important factor. On these loans, how does MELD guarantee the repayment of these loans at the pre-agreed installments? What kind of security strategies do you use to ensure that there is no loss of assets?

Ken Olling : We don’t. We don’t do credit checks and need to know anything about you. It’s your responsibility to pay your loan back. You will be notified and be given every chance to pay it back. But if you don’t then the value of the loan is taken from the collateral and you get the difference back. The loan is then paid off.

Q5. From @jonhjo: Do you have plans to build your wallet and What wallets can support your tokens?

Ken Olling : The wallet will be released in the Summer of 2021.

Q6.From @Lucas310: Is this project suitable for Crypto beginners? Or only of interest to professional users?

Ken Olling : We are shooting to be the easiest most friendly crypto protocol in the market.

Q7. From @yashysr: Token burning is beneficial to any project because it can control the number of tokens in circulation and provide investors with greater incentives. Does your great project have a plan for token burning?

Ken Olling : The MELD protocol does not use minting and burning as a way to control the circulation. We use buybacks to do this. We want to have a highly stable and predictable total quantity in the market.

Ken Olling: I hope I was able to answer the key questions everyone had. If you have more questions please come join our telegram community and we will be able to field any additionally questions.

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