Enzyme
Crypto Overview
Protocol Overview
Enzyme (MLN) is a decentralized protocol for on-chain asset management, enabling users to build and manage investment portfolios on the Ethereum blockchain. The platform allows fund managers to create, manage and invest in customized DeFi investment vehicles called 'vaults'.
Intended Utility
The MLN token serves as both a governance token and utility token within the Enzyme ecosystem. It is used for protocol governance, paying network fees, and accessing premium features. Fund managers must stake MLN tokens to create vaults, while investors use MLN to pay management and performance fees.
Actual Utility & Adoption
On-chain data shows active usage of the protocol with over $200M in Total Value Locked (TVL) as of 2024. The platform has attracted professional fund managers and institutional users, demonstrating alignment with its intended purpose. Regular protocol upgrades and an active developer community indicate ongoing development.
Token Distribution & Founder Assessment
The token distribution appears relatively fair, with no excessive concentration among founders or early investors. There are appropriate vesting schedules for team allocations. The founding team, led by Mona El Isa, has maintained consistent development focus since 2016, prioritizing technical development over marketing.
Revenue Model
The protocol generates revenue through legitimate service fees from asset management activities, avoiding interest-based income. Fees are transparent and based on actual services provided.
Crypto Impact
To assign a comfort level investing in Enzyme from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Enzyme.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.