MELD is building the DeFi banking stack; unlocking the value of your crypto assets in fiat while keeping a long position and not triggering a tax event. MELD is an open-source, non-custodial liquidity protocol for borrowing fiat (USD and EUR) against crypto collateral and earning yield on deposits. The MELD token is used for governance of the protocol, and you can stake it to earn yield. MELD is the first decentralized protocol that incorporates fiat loan capabilities into the crypto ecosystem. This enables low-friction transactions between crypto and fiat positions while maintaining control of digital assets. Users interact with the MELDapp to easily access their digital assets to lend, borrow and manage the services offered by MELD. Users have peace of mind because they keep the keys to their assets at all times. MELD offers significant capital efficiency gains in lending and borrowing compared to both centralized blockchain solutions and traditional fintech. Running on a third-generation blockchain, MELD inherits Cardano’s features including low transaction costs, high throughput and Cardano has more than $10 billion staked within the blockchain. Built on top of the Cardano blockchain, MELD capitalizes on transaction efficiency, which drastically reduces fees by more than 99% as compared to ETH-based solutions.