MELD donates ADA to Cardano’s international tree problem – Metropolis AM

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Wednesday December 08, 2021 10:48 PM

MELD – launched in July with enough success to create 10 pools of participation to accommodate its entire ISPO – has partnered with the Cardano Foundation to help with its Global Impact Challenge.

After discussions about its “Cardano Forest” initiative – a program in which Cardano’s native ADA token can be used to help plant millions of trees – MELD has announced that it will keep its pools open for an “additional era” to to donate additional ADA for the environmental project.

Cardano’s Global Impact Challenge is an invitation to its global community to make donations to Veritree through ADA. Each ADA donated corresponds to one tree that Veritree plants. The project is more than halfway through its goal, and it could help keep the MELD participation pools open for another epoch to contribute to the initiative.

MELD launched ISPO six months ago and expected little or no interest from the community. However, within the first 24 hours, the overwhelming response was enough to force the developers to create up to 10 stake pools.

“We were overwhelmed by the people’s interest in the ISPO model, Cardano, MELD and the bigger vision MELD stands for and as a by-product of the initiative,” said Ken Olling, CEO of MELD.

“We have built an amazing community, raised awareness of new fundraising models, and thereby attracted thousands of new users to the Cardano ecosystem, and we cannot thank you enough for your continued support and efforts to MELD! This is just the beginning. “

MELD ISPO reached up to $ 620 million ADA on Oct. 27, which is well over a billion dollars of interest people had in MELD and the ISPO model during that time. When MELD was started, no other ISPOs were currently running on the Cardano blockchain. It is believed that hundreds have started since then.

Jeremy Firster, Head of Partnerships and Executive Officer of the Cardano Foundation, said he was pleased to see MELD take a leadership role in supporting the Global Impact Challenge and innovation in ecosystem participation.

“Community engagement is at the core of what makes Cardano great,” he said.

“The Cardano forest represents the power of the ecosystem and what can be achieved through inclusiveness and joint work on common goals for a positive impact on society.”

Veritree is committed to bringing together the trees donated by MELD participation pools. If the MELD holding pools hold more than 200 million ADAs in their holding pools for the next epoch, this should correspond to about 250,000 trees planted in total, including the matching trees from Veritree.

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