What is Enzyme (MLN) Coin
Enzyme Finance was formerly known as Melon Protocol. The token has a new icon and name, but the MLN ticker and contract address stays the same. MLN coin is used to pay for various functions throughout the vault creation process and investment lifecycle. There is currently a proposal in front of the Enzyme Council to substantially change the token economic model.
- Enzyme (Formerly Melon Protocol) is an Ethereum-based protocol for decentralized on-chain asset management. The protocol enables anyone to set up, manage and invest in customized on-chain investment vehicles.
- Enzyme’s protocol token (MLN) operates as a mint and burn model. A fixed amount of 300,600 MLN tokens are issued annually, whose allocation will be decided upon in a vote. The primary goal of these tokens is to compensate maintainers and platform developers who are working on improving the Enzyme platform and its user experience.
- Users pay an Asset Management Gas Unit (AMGU) in ETH to the Enzyme network for platform services, such as setting up a fund, requesting an investment, or executing an investment.
- All ETH fees are sent to the Melon engine contract, which buys MLN/ETH and burns all bought MLN every 30 days. The AMGU price is set by the Enzyme Council DAO and can be adjusted based on the network environment.
- Note that there is an ongoing discussion for a change in MLN token economics. Under the new proposal (MIP7), users will be charged management fees in MLN tokens, based on the AUM on Enzyme.
- The protocol is governed by the Enzyme Council, which consists of the Enzyme Technical Council and Enzyme User Representatives. The Enzyme Council is responsible for preserving the users’ interests.
- Note that neither the Enzyme Council, nor the token holders can impact the smart contract code that is used by a fund manager.
- As at July 5th 2021, the total supply of MLN is 1,824,437 and the current circulating supply is 100%.
How To Buy Enzyme (MLN) Coin
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How Much is a Enzyme (MLN) Coin
Enzyme (MLN) coin prices are updated instantly in USD, Euro, Sterling currencies in the following table.
Enzyme (MLN) Coin Review
You can learn more about Enzyme (MLN) coin reviews and information on cryptocurrencies by visiting their official page available in the following.
Website https://enzyme.finance/ Github https://github.com/enzymefinance Medium https://medium.com/enzymefinance Documentation https://docs.enzyme.finance/ Telegram https://t.me/enzymefinance Discord https://discord.enzyme.finance/ Youtube https://www.youtube.com/channel/UCJPutAAPqqY13yaY8K94vcA