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An On-chain Asset Management Protocol.
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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.
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.