MLN is een Ethereum-token dat Enzyme mogelijk maakt (eerder bekend als Melon Protocol), een protocol dat gericht is op het vergemakkelijken van activabeheer binnen de chain voor het DeFi-ecosysteem. MLN stelt gebruikers in staat om DeFi-investeringsstrategie ën (ook wel 'kluizen' genoemd) te bouwen, te delen en te verkennen terwijl ze worden gefilterd op historische prestatie- en risicoprofielen. MLN wordt gebruikt om te betalen voor verschillende functies tijdens het proces voor het maken van een kluis en de levenscyclus van investeringen.
What Is Enzyme Finance (MLN)?
Enzyme Finance is an Ethereum-based protocol for decentralized on-chain asset management. As described in the whitepaper, it is a platform for people or entities to manage their wealth within a customizable and safe environment. Enzyme aims to enable anyone to set up, manage, and invest in customized investment vehicles. The platform aims to change the landscape of asset management by eliminating barriers. For this, they brought asset management on the Ethereum blockchain.
In traditional markets, managed funds require a minimum investment amount to be deposited. On top of that, the institutions charge hefty management fees, which put these managed funds out of the reach of an average user. To address this, Enzyme Finance was developed to decentralize the traditional asset management field, which has been controlled by financial advisors and firms. Enzyme aims to create an alternative system where consumers can trade in portfolios according to their risk profile. On the platform, users can build, share, and explore various investment strategies while filtering out the risk profiles as per their needs.
Talking about the platform, Enzyme helps users to connect with a stable ecosystem where they can trade and find a suitable crypto asset. As per the website, the platform, apart from bringing traditional investment vehicles on the blockchain, offers several features:
The platform offers more than 250 assets and crypto tokens to trade.
The platform is integrated with many popular decentralized finance (DeFi) platforms like Uniswap, Kyberswap, Compound Lending, Aave Lending, Curve Pool, Yearn Vaults, Synthetix, and more.
The platform allows users to retain full custody of their assets with foolproof security.
The platform offers total transparency, and traders can access a wide range of transparent funds.
With Enzyme, anyone can create an investment strategy of their choice according to their budget.
The platform offers various accounting tools that help scale and limit operational costs.
Coming to the token, MLN is the native token and the platform’s cryptocurrency. MLN is an ERC20 standard token and is primarily used as a utility token. MLN is used to pay for various services throughout the ecosystem. Further, the token is also used as the governance token. The platform is run by Enzyme Council DAO. In simple terms, the MLN token powers the ecosystem and aligns the activities of the stakeholders.
Delving deep into the workings, the architecture of the protocol is designed in two layers, i.e., a fund layer and an infrastructure layer.
Fund Layer: This is the layer where all funds are launched and controlled, in which other users can place their assets.
Infrastructure Layer: This layer is controlled by Enzyme Council DAO. Here the smart contracts link assets to the projects with their price feeds for trading.
History of Enzyme
Formerly known as Melon Protocol, Enzyme Finance was developed by MelonPort AG in 2016. The Melon project was rebranded to Enzyme in December 2020.
With the sole purpose of developing asset management on Ethereum, the platform raised money through its initial coin offering (ICO) in February 2017 and raised $2.9 million. At the inception, a total of 1.25 million tokens were issued.
The road map suggests that the platform is busy launching Sulu, which would allow services like borrowing, share transferability, etc. to customers.
How Are New Enzyme Tokens (MLN) Created?
Running on Ethereum, Enzyme Finance uses a proof-of-stake consensus mechanism to validate and secure transactions. The transactions in this mechanism are made on the network and are mined by one of the nodes. All the transactions that occur cost a fee known as “gas,” which is paid to the network user that mines the transaction.
How Many Enzyme Tokens (MLN) Are There?
The total supply of MLN is 1.82 million tokens.
How to Purchase Enzyme Tokens (MLN)
The MLN token is available on several decentralized and centralized exchanges, including Coinbase. It's quick, secure, and easy.
