May 19, 2022 — 4 Min READ
MELD Staking Pool ready for Rstronauts
At Revuto, we’re always looking for new opportunities to bring value to our users. Whether that’s by helping them save money on their monthly subscriptions, earn yield from staking tokens, or exclusively access to upcoming Cardano projects via IFO (Initial Farm Offering) pools and through the Launchpad within the Revuto app. When we announced our last staking pool, we reached the hard cap for our Initial Farm Offering (IFO) pool in a record time, after giving Revutonians the chance to stake REVU to earn Profila’s ZEKE token. In case you don’t know, you can still participate in the Profila Launchpad within the Revuto app where you can buy ZEKE tokens at -50% discounted price compared to their Public Sale price.
Well, now let’s get back to our Rstronauts that have been exploring the Cardano universe for the past few weeks, because we’ve got a new staking pool for our Rstronauts starting today: MELD.
Introducing the Banking Stack for Defi
MELD is a decentralised borrowing and lending protocol that allows users to obtain low-interest loans in fiat by collateralising their digital assets. With MELD, it’s entirely possible to leverage your cryptocurrency holdings to borrow, while still retaining full control of your portfolio. The Singapore-based, non-custodial protocol made headlines earlier this year.
Like us, MELD chose to build on Cardano due to its high performance and low transaction fees. According to CEO Ken Olling, the latter allowed the protocol “to have very high capital efficiency, which means that we can offer our services to people outside of the wealthiest nations.”
MELD refers to itself as a trustless banking stack for DeFi, as it is designed with the world’s 1.7 billion unbanked population in mind. Utilizing smart contracts to bring fiat loan capabilities to Cardano’s expanding ecosystem is a ground-breaking move, and with their rockstar team of entrepreneurs, blockchain engineers and software specialists, we believe they will deliver on their promises.
And so to our brand-new staking pool, where users can stake REVU to earn MELD. The fifth of eight pools required for the Rstronaut NFT, the MELD pool will have a hard cap of 1.5m REVU and a subscription period of 14 days commencing May 19 at 10:00 UTC. The staking period will be 90 days and the reward allocation for this pool will be 150,000 MELD tokens.
Since the launch of our staking pools back in February, we have been thrilled to witness so many of you participate in earning opportunities: incredibly, over 20 million REVU has been staked in our pools! By putting your hard-won REVU tokens to work, you are helping to bolster the overall Cardano ecosystem while earning an early stake in some of the most cutting-edge projects in decentralised finance. The APR isn’t shabby either, be sure to download the Revuto app if you haven’t already to check out the current APR for staking REVU in the MELD pool!
Needless to say, we will be watching MELD with interest over the coming months — and we’ll also be rolling out even more staking pools and some amazing updates and mind blowing news in the next few weeks. Once you pledge your tokens to the farming pool, they are locked for a period of 90 days. During that time frame, you cannot withdraw your tokens and you can’t harvest rewards until the lock-up period ends. One more important caveat to highlight is that when we fill up the pool and reach the Hard Cap, the pool will promptly be locked and no more tokens can be added after that so hurry up to secure your spot to remain eligible for the Rstronaut NFT.