What Is Enzyme Finance?
Enzyme Finance is a platform that allows its users to set-up, manage and invest in digital currencies and crypto assets in a decentralized manner by creating their very own and customized tokenized investment vehicles and all terms and conditions are governed by smart contracts.
Enzyme Finance allows its users to directly gain control over their digital assets without having to invest via an investment manager or fund management company.
Melon Protocol Rebranding to Enzyme Finance
The Melon Protocol project was rebranded to Enzyme Finance as a business decision by the Management in December 2020.
Enzyme Finance or Melon Protocol Founder
Mona El Isa is the brainchild behind Enzyme Finance. She is a co-founder and CEO of Enzyme Finance to date. There are also quite a few individual and institutional investors who have a stake in Enzyme Finance.
When Was Enzyme Crypto Finance Created?
The native crypto of the Enzyme Finance is the MLN which is an ERC-20 compliant crypto coin that was initially launched in 2017.
Enzyme Finance Investors
Two predominant investors of the Enzyme Finance are two institutional investors namely the KR1 and the Kenetic Capital.
Is Enzyme Finance Decentralized?
Yes, the Enzyme Finance runs on a decentralized asset management infrastructure that is based on Ethereum. Enzyme finance allows the users to directly invest in crypto assets without the need of an intermediary.
Is Enzyme Finance Non-Custodial?
Yes, the Enzyme Finance is Non-custodial ever since Techemy Capital introduced its non-custodial Holistic ETH-BTC Portfolio on Enzyme Finance which turned out to be a massive success and continues to date.
How Does Enzyme Finance Work?
Enzyme Finance is basically a decentralized asset management infrastructure based on Ethereum that serves the needs of both the Portfolio managers and the subscribers to the Portfolios.
With Enzyme Finance it becomes much simpler for portfolio managers to invest, set up and monetize their own investment strategies. The managers can create their own tokenized vehicles which will be deployed on-chain via the use of smart contracts. The funds will be administered and managed using the rules and guideline outlined at the inception of the investment vehicles.
As for the subscribers to the portfolios, Enzyme Finance provides an outlet to research and subscribe to the most feasible and rewarding strategies as proven in the past. It also provides the users with greater transparency and freedom to manage their digital assets directly as they see fit without having to manage through an intermediary.
You can start making the most of what Enzyme Finance has to offer by simply downloading the Enzyme Finance App. With this app, the portfolio managers can create and manage their portfolios of digital assets while the investors can look through different strategies and make their preferred choice of an investment in digital currency.
What Makes Enzyme Finance Unique?
Firstly, Enzyme Finance is the first ever decentralized asset management platform that allows the investors to gain full control and custody over their crypto assets. It has also been a pioneer in the digital asset management industry that prides itself on greater transparency and reducing the barriers to entry by streamlining the process for investors.
It also follows an on-chain asset management style that allows for real time reflections of events and reporting. It is also quite a secure yet low cost method of setting up and managing your portfolio with built-in accounting tools and software that performs complex calculations and predictions instantaneously.
Another characteristic which made the Enzyme Finance Protocol quite popular was that it provided people with an opportunity to monetize their talents and skills in the field of digital asset management by earning from performance fees.
The Enzyme Finance is indeed a unique business model that artfully catered to an untapped market in the world of crypto trading and investment.
What Is Enzyme Finance Coin MLN Token?
The native currency of Enzyme Finance protocol is the MLN token. The MLN token is an ERC-20 compliant crypto token. In order to create a fund, make an investment and redeem crypto assets on the Enzyme finance protocol, MLN tokens are required.
Melon Protocol includes two separately distinguished bodies that focus on specific areas of governance. These two are namely the Melon Technical council commonly referred to as MTC and the Melon Exposed Business Representatives (MEB). The purpose of these two bodies vary but the focal point is to instill a culture of good governance that assures greater sustainability in the long term.
The MTC focuses on the technical areas and attracts high quality talent who are very committed and prepared to ensure the smooth functioning of the Melon Protocol. This team is also responsible for playing an active role in the research and development of the technical aspects of the decentralized asset management platform.
The major purpose and aim of the MEB is to ensure that rights of all members, users and investors of the Enzyme Finance are protected. It plays a key role in protecting the rights of the minority and letting them voice their concerns freely.
Enzyme Finance DeFi Integrations
Enzyme Finance has integrated with AMM pools like the Uniswap that allows the users to gain from trading fees by providing liquidity to such AMM pools like Uniswap.
Kyberswap being a simple and secure medium of converting ERC-20 compliant tokens into other tokens has integrated with the Enzyme Finance Protocol which provides its users an added benefit with this integration by allowing them to convert and exchange their ERC-20 tokens.
Paraswap and Enzyme Finance have come to a mutual agreement where the Paraswap users will be entitled to a reduction in transaction fees as long as they donate MLN tokens from Enzyme Finance via an airdrop.
This is a protocol that enables the issuing of synthetic assets on the Ethereum Blockchain. The collaboration and integration of Synthetix has provided the users of Enzyme Finance an opportunity to deal in synthetic assets.
Enzyme Finance supports a wide variety of cryptocurrencies and supports compound lending that allows the users to gain from great rewards on their lending facilities.
What Coins Are Supported In Enzyme Finance
Enzyme Finance supports over hundred ERC-20 compliant Ethereum based crypto tokens. Some of the most common tokens supported by Enzyme Finance include DAI, DGX, ZRX and WETH.
The Enzyme Finance Protocol was developed by Melon Port AG. Ever since Melon Port wound down operations, the governance of Enzyme Finance was passed to the Enzyme Council.
The council consists of members from the ETC (Enzyme Technical Council) and the EUR (Enzyme User representatives).
The members of the Enzyme council are headed by a Chairperson and a Vice Chairperson and all members are rotated bi-annually.
The Enzyme Council members have a responsibility to act in the best interests of the Enzyme Finance Protocol and its betterment.
The Enzyme Subgraph is one of the highly sophisticated tools of the Enzyme Finance Protocol that allows users to capture every minute detail be it even from a contract or event level detail.
Thus, the Subgraph does a great job of scanning and storing information and is the go to tool to find out all what is happening on Enzyme as far as trading is concerned.
How to Connect Wallets in Enzyme Finance App?
Follow these simple and easy steps and you will be able to connect your digital wallet in the Enzyme Finance App in no time
Step 1 : Set up a Multisig Safe Wallet
Step 2 : Once you have set up your safe select the Wallet connect option
Step 3 : Open your Enzyme App and connect using Wallet Connect
Step 4 : Copy the QR code pop-up to your clipboard
Step 5 : Go back to your wallet safe page on your digital wallet application
Step 6 : Paste the QR Code on your wallet connect box and now your wallet will be successfully connected to the Enzyme Finance App
Enzyme Finance App
You can easily start managing your crypto investments by downloading the Enzyme Finance App from app store to any handheld device be it a mobile phone or tablet.
Whenever a depositor makes a deposit of a given amount of the denomination asset into the vault, the depositor is entitled to newly minted shares from the vault. An Entrance Fee is charged by transferring a certain percentage of those newly minted shares either to the vault manager or to the vault.
Vault managers are basically the equivalent of a traditional fund manager who is tasked with the responsibility of managing the investment portfolio. The vault managers get a fee based on the number of shares existing in the vault. This fee is usually calculated on a per year basis. Apart from this, the vault managers can claim accrued fees anytime they wish to do so.
Enzyme Network Monitor
Enzyme’s integration with the Oracle Network allows for a smoother, faster and secure flow of price feeds and other information to hasten the on-chain asset management process. Having such a network in place will allow for quicker and easier transacting in real time.
Enzyme Finance Alternatives
Enzyme Finance may be a pioneer in the industry of decentralized asset management of crypto assets with its innovative and highly appealing features and attributes introduced to its users.
However, there are many alternatives available out there and a few popular alternatives to Enzyme Finance include
Enzyme Finance Social Media Handles
Enzyme Finance is available on most social media and networking sites which it uses to inform its users of any new updates and stay connected with the community. In terms of social media Enzyme Finance continues to be very active on Twitter and LinkedIn.
Takeaway – Enzyme Finance Crypto Review
- Enzyme Finance is one of the pioneers of the decentralized asset management protocol for cryptocurrencies
- Mona El Isa is the founder of the Enzyme Finance protocol
- The Melon protocol project was rebranded to Enzyme Finance in 2020
- The MLN is the native token of the Enzyme Finance Protocol
- The enzyme Finance supports over 100 cryptocurrencies including the most popular ones such as BTC, DAI, LTC and so on.
- The enzyme Finance Protocol prides itself on offering greater transparency and autonomy to its users coupled with highly sophisticated and cutting edge technology that allows them to make the right decisions when it comes to managing their crypto assets.
I am a data analyst by profession who loves to crunch numbers at daytime and come home wondering how my passive income numbers for the day look like. I believe in being rich rather than looking rich. Follow me for Cryptocurrency, FIRE, Personal Finance, Credit Cards and Digital Nomad updates