Enzyme
Crypto Overview
Overview
Enzyme (MLN) is a cryptocurrency that powers the Enzyme Finance protocol, a decentralized asset management infrastructure built on Ethereum. The protocol enables on-chain asset management where users can create, manage, and invest in customized DeFi investment vehicles called 'vaults'.
Purpose and Utility
The MLN token serves multiple functions within the Enzyme ecosystem: It's used for governance voting, protocol fee payments, and staking by vault creators. Vault managers must stake MLN tokens to create vaults, which helps ensure responsible management practices.
Business Model and Operations
The protocol generates revenue through fees charged on vault creation and management. These fees are distributed to MLN token holders who participate in governance. The core business model focuses on providing infrastructure for decentralized asset management rather than lending or interest-bearing activities.
Real-World Adoption
Enzyme has demonstrated legitimate adoption with over $200M in total value managed through its vaults as of 2023. The platform has attracted both individual and institutional users looking to manage digital assets in a decentralized manner.
Development Activity
The project maintains active development with regular updates and improvements to the protocol. The team consistently releases new features and security upgrades, showing commitment to long-term development rather than short-term token price appreciation.
Token Distribution
The token distribution shows a relatively balanced allocation with no concerning concentration among founders or early investors. There are vesting schedules in place for team tokens, reducing the risk of large selloffs.
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.