MELD Plants 175,000 Trees in Participation of the Veritree Global Impact Challenge

MELD, the first decentralized, non-custodial system for borrowing and lending fiat and cryptocurrency, has stated that any additional $ADA incentives earned following the MELD ISPO have been donated to Veritree in support of the Cardano Global Impact Challenge.

MELD, which launched in July with so much success that it was required to establish ten stake pools to handle its full ISPO, has partnered with the Cardano Foundation to help with its ‘Global Impact Challenge.’

Following talks over its ‘Cardano Forest’ program, in which Cardano’s native ADA token may be used to help plant a million trees, the platform has stated that it will keep its pools open for an “additional epoch” to contribute any further ADA collected to the environmental effort.

From the $ADA left in the MELD stake pools, the platform was able to raise 86,693 $ADA. They then opted to give an extra 807 $ADA to make it a clean $87,500 gift, and Veritree matched the $ADA donation, resulting in the planting of almost 175,000 trees.

Cardano’s Global Impact Challenge is an appeal to the Cardano community to donate ADA to Veritree. Every ADA provided will result in the planting of one tree by Veritree. The project is more than halfway to its goal. Leaving the MELD stake pools available for another period to contribute to the cause might help it over the finish line.

MELD launched the ISPO six months ago with little or no anticipation of community support. However, the enormous reaction inside the first 24 hours forced developers to construct up to ten stake pools.

The platform’s long-term objective is to provide access to these tools to the $15 trillion that is now shut out of the global economy, including 2 billion people worldwide who are either underbanked or have no access to financial services at all.

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Patrick

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