Melecoin is a cryptocurrency backed by gold standards for future exchanges. The platform aims to establish its project in various areas of decentralization, including the sale of goods and services, the gaming industry, tourism, and other areas linked to the blockchain. Subsequently, users and traders can process the means of payment and convert it into encrypted cryptocurrency across the platform.

Melecoin claims to be a unique and transparent platform developed on the Gold-Crypto-Debit card concept. According to the whitepaper, various factors are limiting the growth of the crypto market. Thus, Melecoin aims to offer a blockchain technology-based platform designed to facilitate users with solutions related to smart funding and e-commerce. The team also intends to expand the scope of the platform by creating a centralized and decentralized business environment that enables users to perform electronic and traditional transactions, convert currencies, and fund projects built on the blockchain network.

Further, the platform has adopted blockchain technology backed by gold to provide services, including supermarkets, clothing, electronics, to develop a secure, safe, and efficient hedging method against the volatility of the traditional currency. In fact, hedging is the strategy that traders use to minimize the risks in the financial assets market. However, using a hedging strategy, Melecoin holders can access liquidity in any currency worldwide.

MELC is the ERC20-compatible token used for trading on the Melecoin ecosystem and other smart contracts. The token is a hard asset stablecoin and a payment token without intermediaries. Therefore, Melecoin token holders can trade and transfer their tokens into any Ethereum contract address using private keys and transfer functions of the Melecoin platform.

Melecoin was launched in December 2015 by MELECOIN Investment Limited, a company based in Riyadh, Saudi Arabia. The platform was launched in a three-stage Initial Coin Offering (ICO). The first one was from May 1, 2020, to May 31, 2020; the second was from June 1, 2020, to June 30, 2020; and the third was from July 1, 2020, to July 31, 2020, all with a 0.1% bonus during the stage sale.