IOHK Joins Forces with MELD to Tackle Cardano Transaction Issue

Blockchain research and development company Input Output Hong Kong (IOHK) has announced a collaboration with MELD, a DeFi protocol built on the Cardano blockchain, to address an issue affecting Cardano transaction processing on the preprod testnet.

We are working closely with the MELD team on a solution to the issue currently impacting Cardano transaction processing on the preprod testnet. We appreciate that MELD has brought this issue to our attention. https://t.co/rkkHc1FcR5

— Input Output (@InputOutputHK) April 6, 2023

In a tweet, IOHK stated that they were working closely with the MELD team to find a solution to the issue and appreciated that MELD had brought it to their attention. The collaboration comes after MELD identified the issue during a thorough security analysis of its lending and borrowing protocol on the blockchain.

MELD had previously delayed the launch of its protocol on the mainnet until the issue was resolved to ensure the security of user assets. In addition, MELD confirmed that they were collaborating with Input Output Global (IOG) on testing with the next iteration of the node software to understand better how they might jointly address the issue. They also confirmed that they would provide further feedback on progress during April.

The announcement from IOHK highlights the company’s commitment as a Cardano partner to address any issues that may impact the Cardano blockchain platform and its users. IOHK expressed appreciation for MELD’s efforts in bringing the issue to their attention. MELD, on their part, also acknowledged the support of IOG engineers.

The company added that they were also exploring several short and medium-term solutions for their development or plans to launch on Cardano. MELD further stated that they would open-source their smart contracts, and once a solution is in place that sufficiently mitigates the issue, they would make the required adjustments to their code base and launch on the mainnet.

IOHK has further stated that they always value collaboration with DApp and DeFi projects building responsibly on Cardano and will continue to support MELD during their journey to mainnet launch.

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