Sheesha Finance is a decentralized mutual fund that provides investment solutions for crypto portfolio diversification and rewards across the DeFi space, allowing token holders to become early investors in some of the hottest DeFi projects.
Today, we are excited to be announcing our latest partnership with MELD (https://www.meld.com/). MELD is on a truly revolutionary mission and are frontrunners in providing the world’s first decentralized and non-custodial banking protocol stack for DeFi. The MELD protocol will allow users to leverage the value of their crypto assets and borrow fiat currencies against their crypto capital, all while retaining their long positions, enabling crypto enthusiasts the ability to continue to hodl, avoiding triggering tax events, yet still be able to access liquid capital in Euros or US Dollars.
MELD is the first decentralized protocol that incorporates fiat loan capabilities into the crypto ecosystem using smart contracts on the Cardano network, so users do not need to rely on custodial or centralized platforms such as BlockFi or Celsius removing third party, political and economic risk. MELD aims to provide a full stack of traditional banking services to the unbanked and decentralized finance communities while also providing users with the ability to stake MELD tokens to earn passive income. The MELD Protocol is built on the next-generation Cardano blockchain, delivering fast, safe and cost-effective infrastructure for the future of DeFi.
The alliance between MELD and Sheesha Finance will introduce rewards in MELD tokens to network participants of the Sheesha Finance Staking platform. MELD tokens provide insurance to the MELD protocol, act as governance tokens within the MELD ecosystem and provide utility for the MELD platform while rewarding users who choose to stake it with an attractive APY. We feel that MELD is providing a service that has been highly anticipated and anxiously awaited in the DeFi community and we could not be more excited about this partnership announcement.
“We have seen the massive growth in demand and the rising popularity of DeFi lending platforms such as Aave and Compound Finance, and we are very confident that MELD launching on the Cardano network will bring this revolutionary service to the next generation of DeFi users, providing a service and platform that is truly needed to revolutionize the traditional finance industry. We are very excited to be able to partner with MELD and be a part of their mission,” says Sheesha Finance CEO Saeed Al Darmaki.
MELD is on a mission to build DeFi products that level the playing field and create opportunities otherwise unavailable for the bottom 97% of the world’s population. MELD aims to create an ecosystem that empowers individuals to regain financial control by providing them with the tools and services they need to manage their own money on their own terms. This can be achieved by allowing users to create a collateralized debt position with their crypto, unlocking access to capital without selling their holdings, as well as providing a platform where people can earn interest in return for lending fiat or crypto to borrowers, also providing the option to take part in reward incentive programs.
The MELD protocol is open-source and decentralized, utilizing smart contracts governed by the MELD foundation in Switzerland, and supported by the Cardano community. The team is looking to provide a full suite of traditional banking services to the DeFi community such as loans, lines of credit, allowing users to become lenders, and a debit card is in the pipeline as well, providing all the services of a bank, but bringing them to the unbanked and DeFi communities in a fair and trustless manner.
About Sheesha Finance
Sheesha Finance is the leading decentralized DeFi mutual fund allowing for premium cryptocurrency portfolio diversification and rewards. Sheesha Finance rewards investors of any size, from small to large ticket holders, with unlimited DeFi tokens from a diversified portfolio of projects. Sheesha Finance’s easily convertible assets can be freely utilized to maximize rewards and gain exposure to existing and upcoming DeFi projects. With plans to become a member-managed Decentralised Autonomous Organization (DAO), Sheesha Finance is dedicated to upholding full transparency and integrity within the DeFi space.
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