The DeFi protocol Backd announced its name change to Mero and said that the previous name was Backd because the protocol was designed to improve the capital efficiency of lending protocols, and now the protocol has become a protocol that improves liquidity efficiency and earns higher returns for users in various ways. .
Mero stated that it is ready to remove the capital deposit cap and will deploy the governance token MERO after the launch of the first Action. Backd announced in June that it had closed a $3.56 million funding round led by Advanced Blockchain AG.