What is Metalend?
Metalend is a decentralized lending and borrowing protocol for fiat-backed stablecoins.
The future of Defi and the confluence with metaverses cannot be built by USD stablecoins alone, people need access to their local currencies to live life. A decentralized lending marketing protocol that support wide range of stablecoins is necessary.
Metalend is lending markets protocol for everyone in their local currencies.
In order to create a global lending and borrowing platform that support different fiat-backed stablecoins, several pieces will be required:
- A lending market optimized for stablecoins
- Stablecoin issuers (in various countries)
- Liquidity providers
Working with stablecoin issuers in foreign countries and their local crypto on-ramps will be necessary to onboard the masses into DeFi. Metalend aims to create partnerships with stablecoin issuers around the world and help them bootstrap the usage of their tokens to the world.
We'll also need liquidity providers for the lending market to have enough liquidity. The Metalend token(coming soon;D) will be distributed as an incentive for depositor to supply their liquidity to powering the protocol.