Enzyme

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Discover Enzyme's fundamentals and latest news.

This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is Enzyme?

Enzyme (MLN) is a decentralized, open-source trading protocol built on the Ethereum blockchain. It focuses on asset management and cryptocurrency portfolio management, allowing users to create, manage, and share their own investment funds without intermediaries. The platform uses smart contracts to ensure transparent, secure, and cost-effective investments. MLN tokens support governance, staking, and fees, and the protocol aims to decentralize traditional asset management, making it more accessible to a broader range of users.

How is Enzyme used?

The Enzyme (MLN) cryptocurrency is used for several key purposes within the Enzyme Finance platform:

  1. Governance: MLN token holders can participate in the governance process by voting on proposals that shape the platform's development and policies, such as the inflation rate.

  2. Fund Operations: MLN is used to execute fund operations, ensuring the smooth management of investment funds on the platform.

  3. Staking: MLN tokens are used for staking, which helps secure the network and incentivizes user participation.

  1. Fees: MLN tokens are used to pay fees within the platform, which supports the maintenance and development of the network.

  2. Discounts: MLN token holders can receive a 50% discount on protocol fees when they use MLN to pay for these fees.

These uses of MLN tokens contribute to the overall functionality and security of the Enzyme Finance platform, which focuses on decentralized asset management and cryptocurrency portfolio management.

How do I store Enzyme?

To store Enzyme (MLN) tokens, you have several options:

  1. Crypto Exchanges: You can store MLN tokens on crypto exchanges like OKX, which offers a convenient and reliable storage solution. This allows you to directly trade your tokens for other cryptocurrencies if needed.

  2. Hardware Wallets: Hardware wallets like Ledger or Trezor provide the most secure offline storage and backup. They are suitable for larger amounts of MLN and require more technical knowledge.

  3. Software Wallets: Software wallets like Atomic are free and easy to use. They can be custodial or non-custodial and are available as smartphone or desktop apps. They are suitable for smaller amounts of MLN and are less secure than hardware wallets.

  1. Online Wallets: Online wallets or web wallets are free and easy to use but are considered less secure than hardware or software alternatives. They are best suited for holding smaller amounts of cryptocurrencies or for frequent traders. Choose a reputable service with a track record in security and custody.

  2. Kriptomat Wallet: Kriptomat offers a secure storage solution with enterprise-grade security and user-friendly functionality. You can store and trade your MLN tokens without hassle.

These options provide varying levels of security and convenience, allowing you to choose the best fit for your needs.

How to buy Enzyme?

To buy Enzyme (MLN) tokens, follow these steps:

Buying on Centralized Exchanges (CEX)
  1. Choose a CEX: Select a reliable and trustworthy crypto exchange that supports Enzyme (MLN) purchases, such as Kraken, Coinbase, or KuCoin.
  2. Create an account: Enter the required information and set a secure password. Enable 2FA for added security.
  3. Verify your identity: Complete KYC verification, which may require providing identification and proof of address.
  4. Add a payment method: Connect a payment method such as a bank account, debit card, or credit card.
  5. Buy Enzyme (MLN): Use fiat currency to buy Enzyme (MLN) directly or first purchase a popular cryptocurrency like USDT and then exchange it for Enzyme (MLN).
Buying on Decentralized Exchanges (DEX)
  1. Choose a DEX: Select a DEX that supports Enzyme (MLN) trading, such as Uniswap or SushiSwap.
  2. Purchase the mainnet cryptocurrency: Buy the cryptocurrency associated with the DEX's blockchain, such as ETH for Ethereum-based DEXs or BNB for Binance Smart Chain-based DEXs.
  3. Swap for Enzyme (MLN): Use the mainnet cryptocurrency to swap for Enzyme (MLN) on the DEX.
Buying via Crypto Wallets
  1. Choose a wallet: Select a reliable and reputable crypto wallet that supports Enzyme (MLN), such as Trust Wallet.
  2. Download and create a wallet: Download the wallet app and create a new wallet address or import an existing one.
  3. Buy Enzyme (MLN): Purchase Enzyme (MLN) directly using a supported payment method or first buy a popular cryptocurrency and then exchange it for Enzyme (MLN).
Additional Tips
  • Ensure you understand the fees associated with each method.
  • Store your Enzyme (MLN) tokens securely in a wallet or on the exchange.
  • Consider staking Enzyme (MLN) to earn rewards.
  • You can trade Enzyme (MLN) for other cryptocurrencies on exchanges.
  • Some online platforms and offline shops accept Enzyme (MLN) as payment.
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History of Enzyme

Enzyme, formerly known as Melon, is a decentralized open-source trading protocol built on the Ethereum blockchain. It was launched in February 2017 by founders Rito Trinkler and Mona El Isa. The platform focuses on asset management and cryptocurrency portfolio management, allowing users to create, manage, and share their own investment funds without intermediaries like banks or fund managers.

Enzyme operates as a decentralized autonomous organization (DAO), where MLN token holders can participate in the governance process and influence the platform's future. The MLN token is used for governance, staking, and fees, with an annual inflation rate of 2%. This token economy encourages user participation and contributions while supporting the security and development of the platform.

The Enzyme ecosystem consists of several components, including the Enzyme Protocol, the Enzyme Interface, the Enzyme DAO, Enzyme Modules, and integrations with other DeFi protocols and projects. These components work together to provide a powerful decentralized trading protocol with high security, flexibility, and scalability.

Enzyme has undergone significant changes and developments since its launch. For instance, the Melon Council has been redesigning the balance between token emission and burning to stabilize the MLN price. The platform continues to evolve, offering innovative features and strategies for users to manage their assets and invest in various projects and portfolios.

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How Enzyme works

Enzyme (MLN) is a decentralized, open-source protocol built on the Ethereum blockchain. It operates as a decentralized asset management infrastructure, allowing users to create, manage, and invest in various investment funds without intermediaries. Here's a detailed overview of how Enzyme works:

Fund Creation and Management
  • Fund Creation: Users can create their own investment funds, implementing custom investment strategies. These funds are managed through smart contracts, ensuring transparency, security, and cost-effectiveness.
  • Liquidity Pooling: Users can combine their assets in a pool, providing more capital for investments and increasing trading opportunities.
  • Smart Contracts: These contracts manage funds, execute transactions, and set rules and conditions for investments.
Governance and Token Economy
  • Governance: Enzyme is a decentralized autonomous organization (DAO), allowing the community to participate in decision-making through the MLN token. Token holders can vote on important matters, influencing the platform's future.
  • Token Economy: The MLN token is used for governance, staking, and fees. It has an annual inflation rate of 2%, encouraging user participation and contributions to the platform's security and development.
Key Features
  • Non-Custodial: Users retain full control over their assets, with minimal trust required between parties.
  • Decentralized: Built on Ethereum and Polygon, Enzyme operates on decentralized blockchain networks, ensuring transparency and accessibility.
  • Modular Architecture: Users can implement custom investment strategies using various modules, such as liquidity, trading, and risk management.
  • Off-Chain Oracles: Real-time price information is provided through off-chain oracles, enhancing the platform's functionality.
  • Integrations: Enzyme integrates with other DeFi protocols and projects, such as Aave, Curve, and Compound, offering users a broader range of investment opportunities.
Benefits
  • Low Transaction Costs: Enzyme offers low transaction costs, making it an attractive option for investors.
  • Fast Transactions: The platform enables fast transactions, enhancing the overall user experience.
  • International Payments: Enzyme facilitates international payments with minimal paperwork.
  • High Liquidity: The platform provides high liquidity, ensuring that users can easily buy and sell assets.
Security and Transparency
  • Smart Contract-Enforced Platform: The platform is thoroughly tested and audited before deployments on the mainnet, ensuring security and transparency.
  • Open-Source Code: The code is publicly available for review and improvement, further enhancing transparency and decentralization.

Overall, Enzyme (MLN) provides a decentralized, secure, and transparent platform for asset management and investment, empowering users to take control of their assets and participate in the DeFi sector.

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Enzyme's strengths

The token Enzyme (MLN) has several strengths that contribute to its value and utility within the Enzyme ecosystem:

  1. Governance and Staking: MLN is used for governance, staking, and fees, which encourages user participation and contributions to the platform. This token economy supports the security and development of the platform, increasing the value of MLN.

  2. Discount on Protocol Fees: MLN token holders can benefit from a 50% discount on protocol fees by buying back Enzyme Council-owned shares at 25 bps of Assets Under Management (AUM), which are then burned, reducing the annualized fee.

  3. Decentralized Asset Management: Enzyme allows users to create and manage their own investment funds without intermediaries, ensuring transparency, security, and cost-effectiveness. This decentralized approach empowers users to have full control over their assets.

  1. Access to DeFi Universe: Enzyme connects users to a broad range of DeFi protocols and services, making it easy to engage with various DeFi tokens and protocols from a single platform.

  2. Transparency and Security: Enzyme's smart contract-enforced platform ensures transparency and security, with thorough testing and auditing before deployments on the mainnet. This focus on security contributes to the overall trustworthiness of the platform.

  3. Scalability and Flexibility: The modular architecture of Enzyme allows users to implement custom investment strategies, and the liquidity pooling mechanism increases available capital for investments, making it a versatile and scalable platform.

These strengths collectively contribute to the value and utility of the Enzyme (MLN) token, making it an attractive option for those interested in decentralized asset management and DeFi.

Enzyme's risks

Enzyme (MLN) carries several financial risks that investors should be aware of. These include:

  1. Price Volatility: Enzyme's price can fluctuate significantly, which may result in losses for investors. This volatility is inherent in the cryptocurrency market and can be influenced by various factors such as market sentiment, regulatory changes, and global economic conditions.

  2. Risk of Dilution: Users who fail to pay fees in MLN risk diluting their vault shares by 50 basis points (0.5%).

  3. High-Risk Rating: Enzyme receives an average risk rating from InvestorsObserver analysis, indicating that the token is susceptible to price manipulation due to limited trading volume and market capitalization.

  1. Trading Risks: Trading in Enzyme involves risks that can result in the loss of capital. This is a general risk associated with investing in cryptocurrencies and DeFi projects.

  2. Governance Risks: As a decentralized autonomous organization (DAO), Enzyme's governance structure relies on community participation and voting. This can lead to potential governance risks if the community fails to make informed decisions or if there are conflicts of interest among stakeholders.

  3. Smart Contract Risks: Enzyme's use of smart contracts carries the risk of potential bugs, security vulnerabilities, or unintended consequences, which can impact the integrity of the platform and the value of MLN.

  1. Regulatory Risks: Enzyme operates in a rapidly evolving regulatory environment, and changes in laws or regulations can negatively impact the project's viability and the value of MLN.

These financial risks highlight the importance of thorough research and due diligence before investing in Enzyme (MLN) or any other cryptocurrency project.

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Did Enzyme raise funds?

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Enzyme’s team

  • Mona El Isa: Founder of Enzyme Finance, previously worked at Goldman Sachs and managed a hedge fund. She has a background in traditional finance and was inspired by the power of smart contracts to create Enzyme.
  • Reto Trinkler: Co-founder of Enzyme Finance, involved in the development of the Melon protocol, the predecessor to Enzyme.

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