Solving Liquidity Fragmentation in DeFi
DeFi faces a problem due to the rise of Layer 2 (L2) networks. Liquidity is spread across multiple chains, leading to inefficiency, price slippage, poor user experience, and volatility. Unlike centralized finance, which has clearinghouses to provide liquidity, DeFi lacks a unified liquidity system.
Malda solves this by creating a decentralized clearinghouse. Its unified liquidity layer boosts capital efficiency and makes transactions smoother.
Testnet Details
The testnet will initially support:
It will run for 10 days and will reward users who interact with the Malda ecosystem. Malda also plans to support Ethereum and major L2s on mainnet.
The testnet launch follows a phased approach:
- Exclusive Access (Day 1): Only whitelisted users who signed up for the waitlist can join.
- Public Access (Day 2 Onward): Open for everyone to participate.
How to Participate
Users can complete campaign tasks through Galxe and earn XP. There are two types of challenges:
|
Challenge Type |
Description |
|
Revealed Tasks |
On-chain tasks with clear instructions (e.g., supplying or borrowing assets from specific chains). |
|
Hidden Challenges |
Social engagement and feedback-based tasks. Only hints are provided, and criteria for XP are undisclosed. |
Testnet Rewards
Participants will earn Malda Awakening NFTs. The NFTs will follow a tier-based system. Once the mainnet launches, NFT holders will receive boosted points.
Industry Leaders on Malda’s Testnet
Industry leaders have expressed their enthusiasm about Malda’s upcoming testnet. Barna Kiss, Co-Founder and CEO of Malda, highlighted the significance of the partnership with RISC Zero for their first incentivized testnet, emphasizing the hard work that went into creating a secure and robust platform. He noted that opening it up to external users marks an important milestone.
Meanwhile, Jacob Everly, Product Lead at RISC Zero, shared his excitement about supporting Malda’s journey to the mainnet. He emphasized RISC Zero’s commitment to making zero-knowledge proof technology more accessible and efficient, believing that ZK will be essential for scaling and securing DeFi applications.
Malda’s Rebrand & Future Plans
This testnet launch aligns with Malda’s rebrand from Mendi Finance. Over the next year, Malda plans to evolve into a next-gen lending protocol. It will use zero-knowledge proofs for off-chain computations while maintaining full verifiability.
About Malda
Malda is a Unified Liquidity Lending protocol on Ethereum and Layer 2s. It offers seamless lending through global liquidity pools, secured by zkProofs. It is also the first DeFi protocol built on zkCoprocessor technology to unify liquidity pools across Ethereum.
About RISC Zero
RISC Zero created the first RISC-V general-purpose zkVM, allowing developers to write zero-knowledge proofs in Rust. It is also building Boundless, a universal protocol to bring ZK to every chain.
