Thread by @CaesarJulius0

Hey everyone!

As you may know, @MELD_Defi has expanded into @avax and launched their subnet.

This is going to be a huge boost to the Avalanche DeFi ecosystem.

So, what is @MELD_Defi, and why is it an important development? Let's discuss🧵

🔴What is @MELD_Defi?

#MELD will enable users to borrow up to 15 different fiat currencies (and counting) without having to sell their crypto assets.

This is a different concept most lending protocols are restricted to just #crypto assets.

Thus, @MELD_Defi provides fiat loans from fiat lenders to borrowers who pledge their cryptocurrency as a collateralized debt position.

While the lender earns money from safe investments, the borrower can HODL their cryptocurrency positions and watch them increase.

Thanks to @MELD_Defi, you can deposit your crypto holdings and borrow fiat currencies directly into your account and gain access to a line of credit utilized by the MELD Debit Card.

🔵 Why is this an important development?

Thanks to @MELD_Defi, you will be able to utilize your crypto holdings in your daily life!

MELD Debit Card will let you use your crypto assets in your daily life without any centralized party.

If you live in a country with high inflation and low-value currency, not having to convert your crypto into local currency would be a great option.

If you live in such countries, you know what I am saying😀

The protocol also plans to offer a unique solution - self-repaying loans called “Genius Loans”

Here's how it works:

You secure your crypto and borrow money at a slightly higher interest rate. You only need to pay the interest, not the principal!

Btw, Ken from @MELD_Defi gave a speech during the Avalanche Summit II and detailed everything they built🔥

You need to have a look at it, if you don't have time, don't worry, I will provide a review of the speech later

To learn more about MELD, you can check: meld.com

You can secure your early access now at Meld.fi

That's all for today, see you soon!