Enzyme (MLN) coin issuance time

Enzyme's MLN token issuance began in 2018 with a seed sale and progressed through an ICO and subsequent phases, including token distribution, staking, exchange listings, and a token unlock schedule that will conclude in 2028.

Jan 05, 2025 at 04:36 am

Enzyme (MLN) Coin Issuance Timeline

Key Points:

• Enzyme (MLN) is a decentralized asset management protocol that allows users to create, manage, and invest in custom investment portfolios.
• The MLN token is the native cryptocurrency of the Enzyme platform and is used to incentivize participation and reward token holders.
• The issuance of the MLN token is a multi-phase process that began in 2018 and is scheduled to conclude in 2028.

Phase 1: Seed Sale (November 2018)

• The initial seed sale raised $12 million in ETH and was conducted through a private placement.
• Seed sale participants received MLN tokens at a price of $0.12 per token.

Phase 2: ICO (March 2019)

• The public ICO raised an additional $23 million in ETH and USDC.
• ICO participants received MLN tokens at a price of $0.25 per token.

Phase 3: Distribution and Staking (June 2019)

• The MLN tokens were distributed to seed sale and ICO participants.
• Token holders were able to stake their MLN tokens to earn rewards and participate in the management of the Enzyme platform.

Phase 4: Exchange Listings (July 2019)

• The MLN token was listed on several major cryptocurrency exchanges, including Binance, Coinbase, and Huobi.
• This increased the liquidity and accessibility of the token and made it more widely available to potential investors.

Phase 5: Token Unlock Schedule (2020-2028)

• A portion of the MLN tokens are subject to a vesting schedule that will gradually release tokens over a period of 10 years.
• The release schedule is designed to ensure the long-term stability and growth of the Enzyme platform.

Phase 6: Ongoing Development and Adoption (2023-Present)

• The Enzyme team continues to develop and improve the Enzyme platform, adding new features and capabilities.
• The adoption of Enzyme by institutional investors and other asset managers is expected to increase the demand for MLN tokens.

FAQs

Q: What is the purpose of the MLN token?
A: The MLN token has several purposes, including rewarding token holders, incentivizing participation on the Enzyme platform, and supporting the ongoing development of the ecosystem.

Q: How are MLN tokens distributed?
A: MLN tokens were initially distributed through seed sale and ICO participants. A portion of the tokens are also distributed as staking rewards and through the ongoing token unlock schedule.

Q: What factors affect the price of the MLN token?
A: The price of the MLN token is primarily influenced by supply and demand, development progress, adoption, and market sentiment in the cryptocurrency space.