Enzyme (MLN)
Enzyme, launched in 2019, is an Ethereum-based protocol designed for decentralized on-chain asset management. It provides a platform for individuals and entities to manage wealth within a customizable and secure environment. Enzyme enables users to set up, manage, and invest in tailored on-chain investment vehicles. Initially known as Melon Protocol, it was developed by Melonport AG, a Swiss company. After the main net launch in February 2019, the governance of the protocol transitioned to the Enzyme Council, which includes the Enzyme Technical Council (ETC) and Enzyme User Representatives (EUR).
The protocol operates on both Ethereum and Polygon and features a two-layer system comprising a fund layer and an infrastructure layer. It also includes a JavaScript library that supports web browser integration. Enzyme allows users to invest in funds and portfolios created by other users. The protocol utilizes the MLN cryptocurrency for various operations on the platform.
Structure and administration
| Ticker | MLN |
| Category | Finance / Banking |
| Website | https://enzyme.finance/ |
| @enzymefinance | |
| Telegram | +nLYr_ITGTzVhOGFl |
| Contract Addresses | |
|---|---|
| ethereum | 0xec...92 Copied! |
| polygon-pos | 0xa9...07Copied! |
| arbitrum-one | 0x8f...14Copied! |
Enzyme administrators
The Enzyme Protocol is managed by two main entities: Avantgarde Core and the Enzyme Council. Avantgarde Core is responsible for deploying all contracts and configuring them before a release goes live. Once live, the Enzyme Council oversees all protected functions. The council comprises two sub-committees: the Enzyme Technical Council (ETC) and the Enzyme Exposed Businesses (EEB). The ETC consists of technically skilled members who vote on all protocol-wide functions using Aragon.
The Enzyme Technical Council (ETC)
The ETC was established to provide technical expertise and facilitate efficient decision-making. It is composed of a diverse group of individuals and entities. The ETC aims to balance decision-making speed with stakeholder interests, ensuring that user needs are prioritized.
The Enzyme User Representatives (EURs)
The EURs are responsible for collecting and delivering user feedback to the Enzyme Council. They work closely with the ETC to maintain a feedback loop and address user needs. EURs can elect delegates to represent their interests on the council, and they play a role in balancing power within the protocol.
MLN token
MLN is an Ethereum token that powers the Enzyme protocol. It facilitates on-chain asset management within the DeFi ecosystem, allowing users to create, share, and explore investment strategies known as "vaults." The MLN cryptocurrency is used for executing fund operations and voting on software policies. It has a total supply of 2,070,263 tokens and can be traded on platforms like Binance, OKX, and MEXC.
Governance
The governance model of Enzyme is user-centric, ensuring permissionless access to a secure asset management protocol. Users retain full control over their software and can upgrade to new versions of the code voluntarily. The Enzyme Council makes decisions to protect user interests, while the ETC controls the ENS subdomains pointing to the latest contracts.
Those that sit on the Enzyme Council
The Enzyme Council includes notable figures such as Janos Berghorn (ETC), Giel Detienne (EUR), Mona El Isa (ETC), Felix Hartmann (EUR), Fabian Gompf (ETC), Will Harborne (ETC), Lev Livnev (ETC), Martin Landfall (ETC), Nick Munoz-McDonald (ETC), Paul Salisbury (ETC), and Zahreddine Touag (ETC).
Partners
Enzyme collaborates with several partners, including Maple Finance, Polygon, Yearn Vaults, AdEx, Lido, Unslashed, Defiance Capital, Aave, Chainlink, and Synthetix.