FameEX GLOBAL has unveiled its plan to list Enzyme (MLN) on its platform on April 3rd. Enzyme, formerly recognized as the Melon Protocol, is a decentralized platform engineered on Ethereum and oriented towards on-chain asset management. The platform allows users to create, manage, and invest in custom on-chain investment structures.
Enzyme facilitates a host of asset management operations, including fund creation, investment proposals, and transaction processing. To utilize these services, users have to pay a fee known as the Asset Management Gas Unit (AMGU), which is payable in ETH. These fees are funneled into the Melon engine contract. The Enzyme Council DAO, which is the governing authority, has the power to modify the AMGU cost depending on the current network conditions.
The native token of Enzyme, MLN, operates on a mint and burn model. Annually, 300,600 MLN tokens are produced, and their distribution is decided by a voting process. The primary role of these tokens is to incentivize platform maintainers and developers. Once the Melon engine contract accumulates ETH fees, it purchases MLN/ETH and subsequently incinerates the procured MLN every 30 days.
