Fixing Liquidity Fragmentation in DeFi
DeFi faces an issue as a result of rise of Layer 2 (L2) networks. Liquidity is unfold throughout a number of chains, resulting in inefficiency, value slippage, poor consumer expertise, and volatility. Not like centralized finance, which has clearinghouses to supply liquidity, DeFi lacks a unified liquidity system.
Malda solves this by making a decentralized clearinghouse. Its unified liquidity layer boosts capital effectivity and makes transactions smoother.
Testnet Particulars
The testnet will initially assist:
It can run for 10 days and can reward customers who work together with the Malda ecosystem. Malda additionally plans to assist Ethereum and main L2s on mainnet.
The testnet launch follows a phased strategy:
- Unique Entry (Day 1): Solely whitelisted customers who signed up for the waitlist can be part of.
- Public Entry (Day 2 Onward): Open for everybody to take part.
The best way to Take part
Customers can full marketing campaign duties by way of Galxe and earn XP. There are two sorts of challenges:
|
Problem Sort |
Description |
|
Revealed Duties |
On-chain duties with clear directions (e.g., supplying or borrowing belongings from particular chains). |
|
Hidden Challenges |
Social engagement and feedback-based duties. Solely hints are offered, and standards for XP are undisclosed. |
Testnet Rewards
Contributors will earn Malda Awakening NFTs. The NFTs will observe a tier-based system. As soon as the mainnet launches, NFT holders will obtain boosted factors.
Business Leaders on Malda’s Testnet
Business leaders have expressed their enthusiasm about Malda’s upcoming testnet. Barna Kiss, Co-Founder and CEO of Malda, highlighted the importance of the partnership with RISC Zero for his or her first incentivized testnet, emphasizing the laborious work that went into making a safe and strong platform. He famous that opening it as much as exterior customers marks an essential milestone.
In the meantime, Jacob Everly, Product Lead at RISC Zero, shared his pleasure about supporting Malda’s journey to the mainnet. He emphasised RISC Zero’s dedication to creating zero-knowledge proof expertise extra accessible and environment friendly, believing that ZK will likely be important for scaling and securing DeFi applications.
Malda’s Rebrand & Future Plans
This testnet launch aligns with Malda’s rebrand from Mendi Finance. Over the following 12 months, Malda plans to evolve right into a next-gen lending protocol. It can use zero-knowledge proofs for off-chain computations whereas sustaining full verifiability.
About Malda
Malda is a Unified Liquidity Lending protocol on Ethereum and Layer 2s. It presents seamless lending by way of international liquidity swimming pools, secured by zkProofs. It is usually the primary DeFi protocol constructed on zkCoprocessor expertise to unify liquidity swimming pools throughout Ethereum.
About RISC Zero
RISC Zero created the primary RISC-V general-purpose zkVM, permitting builders to put in writing zero-knowledge proofs in Rust. It is usually constructing Boundless, a common protocol to deliver ZK to each chain.