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Cryptocurrency Company, MELD, Supports Reforestation in Global Impact Challenge

The company’s contribution, in collaboration with Veritree, takes project over the line to fully achieve its funding goal

trees, forest

Cryptocurrency company, MELD, that is said to allow you to be your own bank, joined forces with the Cardano Foundation to achieve Cardano’s goal of being fully funded in the Cardano Global Impact Challenge.

Cardano’s Global Impact Challenge was an invitation to its global community to make donations to Veritree using $ADA cryptocurrency, with a goal of planting one million trees. Every ADA donated equates to one tree being planted.

MELD’s contribution equated to 175,000 trees planted in total – half funded by MELD and the other half through a pledge from Veritree, who matched the trees donated by MELD. 

When the company was asked what inspired them to be a part of the Project and why it was an important cause for the company, MELD CEO, Ken Olling stated, “We knew of the initiative from when it was launched at the Cardano Summit in September and we were impressed with this new solution for Reforestation. After chats with the Cardano Foundation as we were nearing the end of our ISPO (Initial Stake Pool Offering), we decided that we would keep our pools open for an additional epoch and for everyone who decided to keep delegating the rewards, they would go towards the Cardano Global Impact Challenge.” 

Olling further added, “As we’re building on Cardano, being able to support an effort that the whole community could rally around was a driving factor. Additionally, we wanted to support a project that is also leading the way for others when it comes to transparency and accountability which has been missing components in areas such as Reforestation.”

This is an interesting and meaningful example of how companies worldwide are using the power of cryptocurrency to raise funding and awareness for global causes, and are able to take action much more quickly than traditional avenues. When asked if MELD plans to continue its environmental efforts in the future, or if they plan to support any other special causes, Olling said, “We have not made any concrete plans as of yet, but we will be looking at the specifics of what we want to further contribute toward going forward.”

For more information about MELD, please visit: www.meld.com.

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