MELD Protocol to Integrate EGX Token

 Allowing EGX Holders to Borrow Crypto and Fiat Currencies

NEW YORK, Jan. 12, 2022 (GLOBE NEWSWIRE) — MELD (Singapore) today announced it has been working with Enegra Group Ltd. (Kuala Lumpur) to create a unique DeFi application based on a credit security token market for borrowing fiat and cryptocurrencies against security tokens. Through this, EGX token holders will be able to use their EGX tokens on the MELD protocol as collateral to borrow both fiat and cryptocurrencies.

EGX token holders can provide liquidity into MELD’s EGX lending markets and investors are able to purchase EGX through https://big.one. EGX holders will be able to lend their EGX tokens as collateral using the MELD protocol and borrow assets such as ADA, mETH, mBTC, and even fiat currencies such as USD and EUR.

Integration of the MELD protocol into the Enegra ecosystem will be able to leverage the value of up to $13B US, resulting in lending and borrowing opportunities for those who want to earn interest on their latent crypto or fiat currencies.

To achieve this, Enegra will be providing access to its Polygon-based EGX token to be wrapped on the Cardano Blockchain and used as collateral on the MELD protocol. As such, MELD will support the EGX token and its permissioned state across the ADAmatic bridge.

Matthew Averay, Managing Director & CEO at Enegra, commented, “Enegra tokenized its equity (EGX security tokens) to improve liquidity. Consistent with this aim, more recently, we migrated EGX to the Polygon blockchain to enable faster and cheaper transaction costs and we also successfully listed EGX on the BigOne Exchange — the first of a number of planned exchange listings. We are now excited to work with MELD to enable EGX holders to take advantage of a DeFi credit market ecosystem for EGX borrowing and lending. This is a great outcome for EGX token holders as we continue to drive liquidity pathways for them.”

Ken Olling, CEO and co-founder at MELD, added, “As Cardano is a growing ecosystem and as the maturity of blockchains increases, the need for bridges to other chains becomes more important and expected by users. We believe that the Polygon technology is aligned with our priorities and the technical priorities of the Cardano blockchain providing low transaction latency and low transaction fees while still maintaining a high degree of security. The capital efficiency that Polygon offers is essential to building in the DeFi space. Cardano and Ethereum are the two largest smart contract-enabled layer-one blockchains with a combined market cap of $450 billion in liquidity. MELD believes this liquidity should be able to be deployed anywhere and not limited to one single blockchain. Additionally, as DeFi grows on both Ethereum and Cardano, capital efficiency will become more and more important to protocols operating on these blockchains. We believe the best way to reach the goals of capital-efficient application of liquidity across multiple blockchains can be achieved by building a Polygon bridge between Cardano and Polygon.”

About MELD:

MELD (Singapore) focuses on decentralized finance (DeFi), with the long-term goal of enabling more than two billion individuals — who are either underbanked or have no access to banking services whatsoever — to access tools and solutions built around leveraging cryptocurrency assets. Services offered by MELD include creating cryptocurrency-backed loans, earning an interest return for lending fiat to borrowers and participating in reward incentive programs. MELD enables an instant loan against cryptocurrency holdings at a competitive APR, or to receive a credit line and only pay interest on what you use. A world-class DeFi protocol using the Cardano platform, MELD uses smart contracts to ensure complete transparency and fairness for all parties including both minting and distribution of tokens. The company has currently raised $10 million through an ISPO as of Q4 2021. For more details, visit www.meld.com.

All trademarks and registered trademarks previously cited are hereby recognized and acknowledged.

Financial And Legal Disclaimer:

You should consult with a financial advisor, attorney or other professional to determine what may be best for your individual investment needs, as investing in cryptocurrencies, ICOs or tokens is highly speculative and the market is largely unregulated.

Contact: Kristin Weissman | Attika Intelligence | Kristin@attikaintelligence.com | 321-203-9325

About the author

Brent Dixon is the owner of E-Crypto News and an early adopter of cryptocurrencies. He is a Book editor- that has edited numerous books on Cryptocurrencies. He has been a writer for more than 30 years. Covering everything from Jazz Music to Blockchain Technology. He currently lives with his wife on Miami Beach, Fl.

Related Posts

E-Crypto News Executive Interviews

Automated trading with HaasBot Crypto Trading Bots

Crypto Scams

Millions in Cryptocurrency Stolen by Scammers in the Last Month According to Tenable Research
November 24, 2021
Behind The Scenes: How this Crypto Community Responded to + $50m Hack
October 18, 2021
Crypto Scams
Crypto Scams Still Persistent In 2021, SEC Warns About Red Flags To Watch
September 9, 2021
Poly Network
Here’s How Hackers Stole Over $600 million in the Poly Network Attack
August 12, 2021
The World’s Most Infamous Crypto Hacks and Scams
July 31, 2021

Blockchain/Cryptocurrency Questions and Answers

GamStop
How Does Bitcoin Casino Work + 2021 Beginner’s Guide
November 8, 2021
Cryptocurrency
How to Buy and Sell Cryptocurrency
November 8, 2021
What Are Bitcoin Futures And How Will They Work In 2022?
November 4, 2021
Ethereum
The Unconventional Guide to Ethereum
October 28, 2021
ICo Presale
The Science Behind ICO Presales…
October 14, 2021


CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin38,662 1.28 % 10.71 % 9.26 %
Ethereum2,818.1 1.14 % 13.23 % 13.47 %
Tether0.9972 1.02 % 0.14 % 0.23 %
Binance Coin422.82 0.43 % 10.15 % 11.28 %
USD Coin1.000 0.59 % 0.09 % 0.03 %
Cardano1.210 0.81 % 13.97 % 2.21 %
Solana123.39 1.04 % 13.46 % 16.00 %
XRP0.6817 0.77 % 10.25 % 11.65 %
Terra73.04 1.12 % 13.14 % 6.67 %
Polkadot21.91 1.07 % 13.80 % 15.18 %

bitcoin
Bitcoin (BTC) $ 39,030.00
ethereum
Ethereum (ETH) $ 2,852.59
tether
Tether (USDT) $ 1.01
binance-coin
Binance Coin (BNB) $ 424.17
usd-coin
USD Coin (USDC) $ 1.01
cardano
Cardano (ADA) $ 1.22
solana
Solana (SOL) $ 123.29
xrp
XRP (XRP) $ 0.686308
terra-luna
Terra (LUNA) $ 74.15
polkadot
Polkadot (DOT) $ 22.25