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Input Output Hong Kong (IOHK), a blockchain research and development business, has partnered with MELD, a DeFi protocol based on the Cardano blockchain.
The goal of this collaboration is to fix a problem that is hurting Cardano transaction processing on the preprod testnet.
In a tweet, IOHK expressed gratitude to MELD for bringing the issue to their notice and indicated it is working closely with the MELD team to solve the problem.
MELD discovered the vulnerability after a comprehensive security examination of its lending and borrowing protocol on the blockchain, which led to the partnership between the two companies.
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 the past, MELD has postponed the deployment of its protocol on the mainnet until the problem can be fixed to guarantee the safety of user assets.
In addition, MELD indicated that it is working with Input Output Global (IOG) to test the next generation of the node software to understand better how they may jointly fix the problem.
MELD also indicated they would comment more on the progress made throughout April.
The notification made by IOHK underscores the company’s commitment as a Cardano partner to fix any concerns that may affect the Cardano blockchain platform and the users of that platform.
IOHK communicated their gratitude to MELD for the efforts to bring the matter to their notice. MELD, for its part, expressed appreciation to the IOG engineers for their help.
The business also said they were investigating several short-term and medium-term options for their development or their intentions to debut on Cardano.
MELD further claimed they would open-source their smart contracts, and when a solution is in place that adequately mitigates the problem, they would make the necessary revisions to its code base and deploy on the mainnet.
MELD also announced that they would open-source their smart contracts.
In addition, IOHK has indicated that they always respect cooperation with DeFi projects built ethically on Cardano and would continue to assist MELD throughout their path to deploy its mainnet.