We are excited to announce further details about the upcoming Private Pool for Meld. Meld is a DeFi, non-custodial banking protocol running on the Cardano blockchain. The core service will be providing lending and borrowing services in cryptocurrencies and fiat currencies. Meld token holders will share 40% of the profit from the banking services through staking. Meld has chosen to incorporate banking services in Singapore for the express reason that this jurisdiction has some of the strictest and clearest laws surrounding decentralized finance, and this regulatory framework will allow the banking services to operate under the best practices of the industry. The Meld Foundation is incorporated in Switzerland for similar reasons.
The total raise for the pool is $800,000. Purchases will be made in BNB through the Lightning website. We will not publish the listing price per Meld token to comply with Singapore law.
The Token Generation Event for Meld will be on December 8th, 2021. Tokens purchased through the Private Pool will be vested and unlock at a rate of 4% per month over the course of 25 months starting from the TGE. The total supply of Meld tokens will be 4 billion and the current estimate for the initial market cap is $80–100 million. The initial market cap is an estimate only and is subject to change without notice.
This is a truly extraordinary opportunity for the Lightning community to participate in what is predicted to be one of the largest projects in cryptocurrency.