What is Enzyme?
Enzyme Finance, formerly known as Melon Protocol, is an Ethereum-based decentralized on-chain asset management platform that aims to eliminate barriers in the traditional asset management field. The platform allows users to create, manage and invest in customized investment vehicles, and offers a variety of features such as the ability to trade over 250 assets and crypto tokens, integration with popular decentralized finance (DeFi) platforms, full custody of assets with foolproof security, transparency, and accounting tools to scale and limit operational costs.
The native token of the platform is MLN, an ERC20 standard token that is used as a utility token to pay for various services throughout the ecosystem. MLN is also used as the governance token, and is controlled by the Enzyme Council DAO. The architecture of the protocol is designed in two layers: the fund layer, where all funds are launched and controlled, and the infrastructure layer, which is controlled by the Enzyme Council DAO and links assets to projects with their price feeds for trading.
Enzyme Finance was developed by MelonPort AG in 2016, and raised $2.9 million through an initial coin offering (ICO) in February 2017. The platform was rebranded to Enzyme in December 2020, and is currently working on launching Sulu, which will allow services such as borrowing and share transferability to customers.
The proof-of-stake consensus mechanism is used to validate and secure transactions on the Ethereum network, and all transactions cost a fee known as "gas," which is paid to the network user that mines the transaction. New MLN tokens are created as a reward for validating transactions on the network.
Enzyme Finance aims to change the landscape of asset management by providing a customizable and safe environment for anyone to manage their wealth, and by decentralizing the traditional asset management field, which has been controlled by financial advisors and firms. With Enzyme, users can build, share, and explore various investment strategies while filtering out the risk profiles as per their needs, making it accessible to an average user. The platform is designed to empower users to take control of their financial lives and make informed decisions about their investments.
The investment information, comments, and recommendations provided here do not fall under the scope of investment consulting. Therefore, making an investment decision based solely on the information and comments provided here may not yield results that meet your expectations.
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