LONDON, Jan. 20, 2022 (GLOBE NEWSWIRE) — Cudos, a decentralized computing network, is thrilled to announce the latest partnership with MELD.
Cudos is building an ecosystem to support financial growth and inclusion in emerging African countries. In this, both Cudos and MELD are highly aligned, leading to this strategic partnership agreement.
Cudos is powering the metaverse bringing together DeFi, NFTs, and gaming experiences to realize the vision of a decentralized Web 3.0. We’re an interoperable open platform launchpad that will provide the infrastructure required to meet the 1000x higher computing needs for the creation of fully immersive gamified digital realities. Cudos is a layer 1 blockchain and layer 2 community-governed compute network designed to ensure decentralized, permissionless access to high-performance computing at scale. The native utility token CUDOS is the lifeblood of the Cudos network and offers an attractive annual yield and liquidity for stakers and holders.
The underlying platform, live in over 145 countries, across enterprise and edge environments, and used by over 250,000 users, would be a decentralized computing layer bridging on-chain and off-chain resources. It also provides a secure, Turing-complete layer 2 blockchain through the Cudos network and provides a cost-effective, low-latency alternative to the hyperscale cloud providers.
The Cudos token’s utility includes network governance and operations, a staking mechanism for receiving blockchain and cloud workloads, and a medium of exchange (MoE).
MELD x Cudos
The purpose of this strategic partnership is to cooperate with Cudos and support each other’s protocols to offer a more complete financial service to customers. MELD will build out a MELDapp wallet integration into the Cudos crypto mining infrastructure through a simple user interface available on mobile and web wallets.
The partnership seeks to make crypto mining fast, simple, and efficient for anyone with budgeting tools to deploy miners in the cloud.
Integrating into the MELDapp ecosystem, as well as partner wallets, users can allocate crypto budgets to pay for cloud-based Cudos mining deployments.
Additionally, MELDapp users can specify the parameters of the miners such as the budget to spend on mining and mining at low costs compute times in the cloud.
MELD x Cudos x Tingo
MELD will work closely with Cudos and Tingo to be able to incorporate Cudos cloud mining capabilities to Tingo customers in the Tingo mobile device ecosystem, alongside MELD services.
Integration of Cudos network into the MELDapp
Over the coming months, MELD will be working closely with Cudos to mutually integrate these functionalities into each other’s protocols and support each other’s ecosystems. This includes the following:
Cudos will deliver a functioning API that MELD can connect to, supporting the integration of the MELDapp. Cudos to deliver technical documentation for the integration of the Cudos network and API.
Cudos to support the integration of asset transfers into the Cudos network to enable web3 connectivity to and from the Cudos network;
Cudos will recognize and support the MELD protocol tokens including: $MELD, $mUSD, $mEUR, $mYEN, $mBTC, $mETH
MELD will be providing an interface into the Cudos network API from the MELDapp wallets — providing access to Cudos Cloud mining services for MELDapp users! On top of this, MELD will be exposing its digital assets and payment functionality to the Cudos network to purchase cloud mining resources.
Both MELD and Cudos strive for novel financial development and a better financial future for the world. As such, MELD endeavors to work together on the development of additional financial instruments related to cloud mining.
MELD is very excited to join forces with Cudos and is looking forward to working together as they build the future of finance!
MELD - Be Your Own Bank
MELD thinks it’s essential for everyone to gain control of their financial lives and have equal access to financial instruments used by professionals, not just centralized institutions, governments, or the 1%. MELD wants to provide financial freedom and control to the masses, including the unbanked.
MELD has a long-term goal to enable the $15 trillion that is currently locked out of the global economy, including 2 billion individuals worldwide that are either underbanked or have no access to banking services whatsoever, access to these tools. These are the people that are paying the highest fees, getting the worst customer service, and they are the ones that are having the most problems.
The vision is to create an ecosystem that empowers individuals to regain financial control by providing them with the tools and services they need to manage their money on their terms. Whether that be creating a collateralized debt position (CDP) with cryptocurrency, earning an interest return for lending fiat to borrowers, or even participating in reward incentive programs, MELD strives to provide their users with the functions they need to manage their own financial lives.
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