Enzyme is set to participate in Staking Summit in Dubai

Enzyme is set to participate in Staking Summit in Dubai on April 28th-29th.

Enzyme, previously recognized as the Melon Protocol, is a decentralized protocol engineered on Ethereum with the express purpose of on-chain asset management. It bestows upon users the capability to establish, oversee, and engage in investments through customized on-chain investment frameworks.

The Enzyme platform serves as a facilitator for diverse asset management operations, encompassing fund creation, investment applications, and transaction executions. To access the platform’s services, users bear a cost designated as the Asset Management Gas Unit (AMGU), levied in ETH. This fee converges into the Melon engine contract. The Enzyme Council DAO, functioning as a governing entity, possesses the authority to modify the AMGU price in response to prevailing network dynamics.

Enzyme’s native token, MLN, abides by a mint and burn paradigm. Annually, 300,600 MLN tokens are brought into circulation, and the method of distribution is decided via a voting procedure. The primary role of these tokens is to provide compensation to those maintaining and developing the platform. After accumulating ETH fees, the Melon engine contract proceeds to purchase MLN/ETH and subsequently burns the acquired MLN on a 30-day cycle.