Meliora:

The blockchain industry, which began with Bitcoin, is basically a component of the financial system, and the exchange acts as its backbone, offering liquidity and value discovery. After years of progress, the blockchain industry has witnessed exponential growth in both the form and quantity of digital assets, ranging from Bitcoin in the beginning to tens of thousands of digital assets such as digital currencies, stable coins, and application tokens. With the exponential growth of cryptocurrencies, the need for cross-chain swapping is becoming increasingly important. Using CEXs involves far too many risks and issues. Furthermore, CEXs are opposed to blockchain’s decentralized existence. DEXs, on the other hand, currently only operate on a single chain, preventing traders from swapping their various blockchain assets for assets from another chain. Meliora will remove the existing risks and issues caused by DEXs and CEXs. Meliora will be a one-stop platform for multichain swaps trading. Meliora platform will support Bitcoin, Ethereum, BSC, Cosmos, Polkadot, Tron, and Avalanche. Traders will be able to swap any of those blockchain assets for any other in a trustless, permission-less, and safe way from wallet to wallet. Let’s take a look at the technologies Meliora will utilize.

What are Atomic Swaps

An atomic swap is a smart contract technology that enables the exchange of one cryptocurrency for another without using centralized intermediaries, such as exchanges.

Atomic Swaps are a trustless way for multiple parties to trade two separate chain currencies. Neither party can “run off” with anyone’s money if one party defaults or fails the transaction. This is enabled by Hashed TimeLock Contracts.

The key advantage of cross-chain atomic swaps over centralized platforms is that the trader keeps complete control of their funds during the transaction and may cancel the trade at any time. This is a modern, hack-proof, cryptographically safe method of trading cryptocurrencies that removes counterparty risk fully. Your funds will never be at risk of being compromised, unlike by using centralized exchanges.

Hashed TimeLock Contracts (HTLC)

A Hashed Timelock Contract (HTLC) is a smart contract that is used in blockchain applications to eliminate counterparty risk by allowing time-bound transactions to be implemented. In practice, this means that participants of a transaction must accept payment within a certain timeframe by producing cryptographic proof. The transaction will not take place if this is not the case.

There are two elements that distinguish HTLC from standard cryptocurrency transactions or ordinary smart contracts.

The first element is the hashlock. A hashlock is a hashed, or cryptographically scrambled version of a public key generated by the originator of a transaction. The associated private key is then used to unlock the original hash. In HTLC, the originating party generates a key and hashes it. The hash is stored in a pre-image that is subsequently revealed during the final transaction. HTLCs are programmed to expire after a certain period of time or number of blocks generated, creating a known termination date.

The second important element of HTLC is a timelock. Two different timelocks are used to set time constraints on contracts generated using HTLC. The first one is CheckLockTimeVerify (CLTV). It uses a time base to lock and release bitcoins. This means that time constraints are hardcoded, and coins are released only at a specific time and date or a specific height of block size. The second one is CheckSequenceVerify (CSV). It is not dependent on time. Instead, it uses the number of blocks generated as a measure to keep track of when to finalize a transaction.

Meli-Wallet

Meli-Wallet is a multi-chain wallet, it will be developed to address the issue of interoperability between different blockchains and to achieve swaps between different blockchains. The wallet uses Hash TimeLock technology to allow the exchange of various cryptocurrency assets. Users will be able to trade Meliora Cross-chain Platform by using this browser extension wallet.

MORA Token

MORA is the currency of the Meliora platform. MORA is an ERC20 token. It is a utility token, blending together the best of decentralized finance and blockchain technology. MORA offers many advantages to its holders with its rewarding robust tokenomics and deflationary feature.

- Fee Discount

On Meliora wallet-to-wallet cross-chain platform, traders who hold more than 5000 MORA tokens are rewarded with 50% fee discount. Meliora charges the Taker 0.6% of the transaction amount, while the rate is 0.2% for the Maker.

- Governance

Meliora is truly decentralized and gives right of speech to its community, which makes Meliora a community driven decentralized platform. MORA holders will shape the future of Meliora.

- Revenue Generating

Meliora distributes %20 of monthly DEX profits to MORA holders. Thus, holding Mora tokens will provide monthly revenue. To be eligible to share the monthly fees revenue, holders must be keeping more than 5000 MORA tokens in their noncustodial wallets for the last 15 days before the monthly snapshot. Snapshot will be taken on the first day of each month.

- Passive Income

Mora holders enjoy passive income by staking their tokens. Meliora offers high yield staking opportunities to its community. Holders will have a chance to get up to 90% APY.

About Meliora

Meliora is a Decentralized P2P Cross-chain Swap Protocol. Meliora provides from wallet to wallet, trust-less, permission-less, and secure swaps. Meliora will be one stop trading solution for multichain swaps. Meliora will support Bitcoin, Ethereum, Binance Smart Chain, Cosmos, Polkadot, Tron, Avalanche blockchains.

Stay In The Loop

Website: https://meliora.finance

Twitter: https://twitter.com/meliorafinance

Telegram: https://t.me/meliorafinance

Github: https://github.com/meliora-finance

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Non-Custodial, Wallet to wallet Atomic Swap Platform

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Meliora.Finance

Meliora.Finance

Non-Custodial, Wallet to wallet Atomic Swap Platform

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