|All Time High:|
|Market Cap: |
|The price of #MLN today is $24.95 USD.|
The lowest MLN price for this period was $0, the highest was $24.95, and the current live price for one MLN coin is $24.95016.
The all-time high MLN coin price was $270.
Use our custom price calculator to see the hypothetical price of MLN with market cap of ETH or other crypto coins.
|The code for Enzyme crypto currency is #MLN. |
Enzyme is 5.9 years old.
|The current market capitalization for Enzyme is $48,654,935.|
Enzyme is ranked #327 out of all coins, by market cap (and other factors).
|The trading volume is big today for #MLN.|
Today's 24-hour trading volume across all exchanges for Enzyme is $1,147,473.
|The circulating supply of MLN is 1,950,085 coins, which is 94% of the total coin supply.|
A highlight of Enzyme is it's limited supply of coins, as this tends to support higher prices due to supply and demand in the market.
Native ETH staking with Kiln is now available on Enzyme!
We are delighted to announce that Kiln’s native ETH staking is now available on Enzyme! This integration gives asset managers (with a minimum of 32 ETH) a human-readable way to access Kiln’s enterprise-grade ETH staking, to earn up to 15% APR rewards. — Who is Kiln? - With over $500m staked under management, Kiln is the leading enterprise-grade staking platform with a particularly strong track record. Kiln runs 2.1% of the Ethereum network, which includes 9,000+ validators with 0 slashing. Kiln offers a rewards guarantee SLA, ensuring a return of 99% of the network-average APR of ETH staking. Kiln’s products are non-custodial and its smart contracts are fully audited by Halborn. With more than 2.1% share of all ETH staked and heavy involvement within the community, Kiln has a strong track record running Ethereum validator nodes. Kiln is the leading enterprise-grade staking platform enabling institutional customers to stake Ethereum. — Why should I stake my assets? - In a Proof-of-Stake blockchain, staking consists of locking native tokens to earn the right to secure a chain, and earn a yield while doing so. It has overtaken mining and Proof-of-Work as the primary way to secure blockchain networks. With ETH staking, users lock ETH to fund a validator, which helps secure the chain by proposing new blocks and attesting other validators’ blocks, and earns a yield in the process. Staking generates the safe...
The State of Enzyme’s Tokenomics
TLDR - MLN token is a utility token that accrues value by charging protocol fees; token inflation is used to fund protocol maintenance & development., Fees began for the first time with the launch of Enzyme v4 in March 2022. All v4 vaults now pay a 25 basis points (bps) fee on AUM. The protocol also accrues referral fees from various integrations with DEX’s and DeFi protocols., Network fees assure investors that maintenance, development and security practices are upheld to a high standard., Enzyme has shown tremendous growth in both absolute and relative terms vs its peers over the last 12 months, so it is crucial to keep the protocol standards higher than ever., Our goal through the market is to grow AUM in ETH terms so that we are nicely positioned for the next DeFi Summer., At our last AUM peak of $230m (assuming all vaults on v4), Enzyme would be annualising $575K-$1.15m in AUM based fees without including any referral fees., On 9th August, 2022, the Enzyme council approved the burn of 54,669 MLN tokens, worth approximately $1,500,000.00 at the time of writing, To date, the Enzyme council has burned 382,125 MLN tokens. This figure can be tracked here., Enzyme was first deployed to main-net (as Melon) three and a half years ago. The protocol’s governance methodology and its token’s economic utility have evolved over that time. This blog post will serve to aggregate the latest state of tokenomics and governa...
Building a Trading Bot on Enzyme — Update
Building a Trading Bot on Enzyme — Update - Written by Jeremiah McCurdy, Software Engineer at Avantgarde Finance A little over a year ago… Erin Koen (software engineer and head of Asset Management at Avantgarde Finance) created a trading bot that executes programmatically on an Enzyme vault. It was accompanied by a great how-to-article on using it to set up a bot of your own — which I will indeed be referencing here. So quick shout out to Erin Koen, who has given me permission to reuse material from his original article and who initially introduced me to his bot in the first place. You can find the bot repo here, and the original article just below. Building a Trading Bot on Enzyme Unfortunately, the current release of Enzyme (Sulu) made significant improvements that introduced breaking changes to the bot. Fortunately, I’ve made all the necessary updates to the bot, and this article will explain how to get it up and running on Enzyme once again. — What was wrong with the old bot - First off, let’s answer the question — why did the bot quit working? The old bot employed the Kovan testnet, which is no longer supported by Enzyme. To compensate I’ve made a bot that trades over the Polygon network, which makes it possible to test with almost negligible fees (I opened a vault and tested the bot for less than 0.20 USD), It was using Uniswap V2, and in order to transact over Polygon it needed to b...
Enzyme User Representatives Elections Are Now Live!
TLDR: Starting on July 27th, 2022, eligible users will be able to nominate themselves to become Enzyme User Representatives (EUR) for the Enzyme Council, Users are considered eligible if they meet the eligibility criteria listed below, EURs are designed to collect, prioritise and deliver user feedback to the Enzyme Council on behalf of users, There are 2 EUR seats available currently; voting will end on September 12th at 23:59 BST, The History of Enzyme User Representatives The first-ever EUR elections took place in Q1 2020, when Felix Hartmann and Giel Detienne were nominated to join the Enzyme council. Both EURs have done a fantastic job, however, in that time period the number of users exploded and TVL on Enzyme grew from $2m to a high of $230m. In the spirit of equal representation, it’s only fair that we hold re-elections to make sure we are staying true to our goal of being user-representative. Therefore, we are happy to announce that starting on July 27th, 2022, users will be able to nominate themselves to become Enzyme User Representatives (EURs) for the Enzyme Council. Nominations for the position will close on August 17th. Voting will commence on August 24th, 2022 and continue until September 14th, 2022. The Enzyme council will confirm the successful applicants on September 15th, 2022. There are 2 seats available for qualifying applicants. You can find further information on the eligibility criteria, selecti...
A secondary market for your Enzyme vault shares: the best of both worlds
TLDR: - Our V3 only allowed for minting and redemption of vault shares, and those ERC-20 tokens were not transferable to third parties., On our V4 Sulu, vault managers can enable an alternative option for depositors who want to exit by transferring their shares instead of going through the classic redemption process., By default shares are now transferable, but you can disable the feature if you prefer to prevent all transfers. Or you can opt for a middle ground and reserve the right to whitelist all secondary buyers before any transfer takes place., This new feature allows for the best of both worlds: the possibility of opening up a flexible secondary market without losing control over who owns what. Especially useful if you need to implement KYC checks and stay 100% compliant., — First off: how are shares created and burned in the first place? - In case you are not 100% aware of how Enzyme creates and destroys shares (i.e. minting and burning) here’s a convenient visual. Every time a new depositor deposits funds into a vault, new shares are minted by the protocol. The same happens on the way out as the same depositor can request a withdrawal, which triggers the burning of his/her shares and the fund redemption. This process used to be the only option until our V3. Since V4 we have created another option for depositors who want to liquidate their positions. Now shares can also be transferred to anyone outside the...
Are you charging performance fees on Enzyme? This is a must read for you.
TLDR: - The V3 calculation method for performance fees has been improved due to its excessive on-chain complexity., The V4 method is much simpler for the protocol and more beneficial for vault managers., Managers can now accrue performance fees on a continual basis instead of waiting for the fixed crystallisation period and automatic fee collection., An important implication for the high water mark must be carefully understood and managed to avoid friction with your depositors., — How were performance fees calculated on V3? - Before the deployment of our latest V4, also known as Sulu, the calculation of the performance fee was based on the concept of “Crystallisation Period” and “High Water Mark” (or simply HWM). The crystallisation period was used to determine the frequency of the calculation and accrual of performance fees. For example, a 20% performance fee with a 90-day crystallisation period meant that the protocol would check every 90 days whether the share price was higher than the previous “High Watermark” HWM, and, if so, mint extra shares that accounted for 20% the appreciation since the previous payout. In case of positive appreciation, the new higher watermark would then get recorded by the protocol and used 90 days later as benchmark reference for the next iteration. — This method has now changed in V4 Sulu - While the concept of a crystallisation period is important in traditional fi...
This new Enzyme feature will obliterate your Ethereum gas fee concerns
TLDR Enzyme V4 comes with a new Gas Relayer feature that allows managers to run vaults without worrying about paying for high gas fees out of their own pocket, This new feature has financial implications for the vault depositors that managers must be aware of before implementing, Using this powerful new feature should be a thoughtful decision and this article will help you make up your mind about it, — Why the Gas Relayer is a real game changer - Since the launch of Enzyme in early 2021, Ethereum gas fees have been the biggest challenge for smaller vault managers that want to experiment with on-chain asset management, create their own investment vaults and run their unique DeFi strategy to ultimately build up a successful track record. Smaller managers have been either discouraged or outright forced to interrupt the execution of their strategy because of the insurmountable cost burden of high gas fees. One of our founding values is to reduce barriers to entry and facilitate access to decentralised asset management for all. For that reason we decided to do something about it in our Enzyme v4, Sulu. One of our goals is to inspire a new generation of DeFi asset managers and help them show their talent on our platform. A tangible outcome of this effort is a gas relief solution called Gas Relayer. The Gas Relayer is a brand new v4 feature that sits on the Open GSN network and allows vault managers to rely on the WETH ba...
Maple Finance Comes to Enzyme!
Today, we’re pleased to announce that Enzyme is able to support lending on Maple Finance. This gives Portfolio Managers within the Enzyme ecosystem some exciting new yields to monetise. — What is Maple Finance? - Maple is the first undercollateralised lending protocol for institutional borrowers. The protocol creates unique and interesting lending opportunities of up to 14% on USDC made up of a blend of interest and $MPL rewards. Borrowers are onboarded by Pool Delegates who assess credit-worthiness and set loan terms with borrowers. Pool Delegates, Celsius, Maven 11, BlockTower and Orthogonal Trading are sophisticated teams of credit analysts. Maple’s tooling and smart contract kit includes everything required to give credit experts an edge in running a sophisticated global lending business, including loan origination, loan management and real-time performance reporting. You can find out more here. — How Does This Benefit Enzyme? - At Enzyme, we’re committed to integrating with a wide-range of market leading DeFi protocols so that users can access the best and most innovative DeFi products available. Our Maple Finance integration on Ethereum provides a new and exciting way for vault managers to access additional yield opportunities to enhance their returns. Maple’s yields are generated by funding loans to a diversified pool of Borrowers with credit protection provided by reserves of staked capital. The...
Enzyme V3 vs V4: Why should you upgrade your vault?
TLDR: Enzyme V4 comes with powerful extra features that make the asset management experience much easier and more affordable, Not only do V4 features make the manager’s life easier, but it also makes the depositor’s experience is more convenient and enjoyable ( → higher conversion and more capital), For new managers, V4 includes the option of launching on Polygon (1,000x cheaper to create a vault on Polygon than on Ethereum), For V3 managers, some important security, accounting & tokenomics aspects must be understood before the upgrade, — V4 Sulu is a massive leap forward - We could talk about how Enzyme V4 helps DeFi asset managers with improved security, flexibility and performance, but that would be excessively technical and too long to explain. For all technical details, you can read through our user docs and our V4 general specs. Here’s a list of highlights that explain why V4 is a much improved version of Enzyme: Way more capabilities & alpha: plenty of extra features available to managers. New integrations include fixed yields with Notional, capital-efficient liquidity provision with Uniswap V3, options with Opyn and leverage with Compound/Aave borrowing. Managers who lag behind on V3 simply won’t have access to these integrations. You don’t want to miss out., Affordable management: thanks to the new feature called Gas Relayer, asset managers can remove the burden of high Ethereum gas fe...
A Call to Managers Building Uniswap v3 Strategies!
Today, we’re excited to announce that Enzyme now enables you to build and actively manage Uniswap v3 strategies. For active liquidity managers, this offers an easy platform to monitor and manage your liquidity strategies whilst allowing third parties to tag along in exchange for a fee. For passive LP’s, this provides a way to improve returns without having to dedicate the time or energy into understanding or actively managing positions. — Background - In May last year, Uniswap v3 introduced the tools to minimize impermanent loss through the ability to concentrate liquidity across different ranges, thus making your liquidity provision much more capital efficient. Interestingly, you can also adapt the commission fee per pool according to the characteristics of the pool you’re creating which can protect you further on volatile and illiquid pairs. Unfortunately, though, most of Uniswap’s users are still opting for the easy, less efficient way of managing their liquidity passively by setting an infinite range for their liquidity so that they can essentially ‘set and forget’. This approach is a lot less capital efficient and likely to stack up losses (rather than gains) but it is popular because it requires less time and effort to manage. — The Benefits of Strategy Management on Enzyme - With Enzyme, managers can create their own vaults to manage strategies. The protocol provides a simple interface which e...
More Enzyme (#MLN) News
|Bank of England to Double Long-Dated Gilt Buy-Backs, QE Policy to See an...
After the British pound sterling tapped an all-time low against the U.S. dollar on September 26, the Bank of England (BOE) said it would halt its monetary tightening policy and start buying long-dated bonds again. Approximately two weeks later, the BOE detailed on Monday that it was doubling the size of its debt buy-backs by purchasing large sums of gilt-edged securities (bonds).BOE to Double Bond Purchases, UK Central Bank Adds New Temporary and Permanent Repo Programs to Enhance Liquidity
16 days ago, the British pound sterling reached a lifetime low against the greenback and the central bank of England decided to step into the fray and bolster the U.K.'s economy with stimulus programs. On September 28, Bitcoin.com News reported that the Bank of England decided to stop monetary tightening and it said it would start to purchase long-dated gilts, otherwise known as bonds.
Two weeks later, the BOE changed its mind and decided to double its efforts in terms of purchasing gilt-edged securities. On Monday, the BOE announced it would increase bond purchasing and told the public that on October 14, the central bank would reveal measures that will bring an 'orderly end' to the latest quantitive easing practices.
Japanese Bonds: Worthless without the BoJ propping them up with printed Yen.
Gilts: Worthless without the BoE stepping in with printed Pounds.
Italian bonds: Worthless without the ECB backstopping with printed Euros.
Global Fiats: Going to zero.
- Stack Hodler (@stackhodler...