Enzyme is a decentralized asset management protocol deployed on the Ethereum network. It offers innovative features and strategies to help users and participants build, create, and manage their investment portfolios.
Today we will explore the Enzyme protocol in detail to understand what it is and how it works. We shall also take a look at its native MLN token, predict its price until 2030, and list exchanges where the token can be traded, before determining whether it is a credible cryptocurrency investment.
So, let’s get started.
What is Enzyme (MLN)?
Enzyme is a decentralized finance (DeFi) protocol designed primarily for the next generation of asset managers, decentralized autonomous organizations (DAOs), treasury managers, and investors. The platform supports over 350 cryptocurrencies.
The main goal of the platform is to decentralize the traditional model of asset management and allow users to invest in any crypto asset or investment portfolio without any entry barriers.
Enzyme enables asset and fund managers to create their own tokenized, blockchain-based investment vehicles. Moreover, anyone can participate in the infrastructure and obtain full control over their assets with maximum transparency. No centralized authorities are operating or managing the network.
The protocol hosts asset management funds on a smart contract-powered portal, thus eliminating the need for users to create such funds. Under the traditional model, this process could take months. Users can launch their portfolios on the network so other participants can invest their assets into it.
How Does Enzyme Work?
Enzyme’s framework consists of a set of Ethereum smart contracts that leverage its software and protocol for utility and asset management features. Ethereum also powers the network’s computations, and ETH is used for transactions and paying network fees.
The network has two layers: the Fund Layer and the Infrastructure Layer. The Fund Layer is where users and network participants create and share funds for other users to invest in. This is also where the assets are managed and controlled by users who have full ownership over their funds.
Whereas, the Infrastructure Layer is part of the ecosystem controlled by Enzyme’s DAO. The network’s native MLN token is used to manage investments and also serves the purpose of the council’s voting mechanism and network governance.
What is the Enzyme (MLN) Token?
MLN is the native utility and governance token of the Enzyme network. The ERC-20 standard cryptocurrency is used to conduct transactions and pay network fees on Enzyme. MLN can also be staked to provide liquidity to the decentralized asset management protocol and support its network.
MLN holders are allowed to participate in the network’s governance, where they can vote on proposals that determine the direction Enzyme moves in.
MLN has a maximum supply of 2.669 million tokens with a market capitalization of $53.14 million. Currently, there are 2.665 MLN in circulation that have attained a trading volume of $62.96 million over the past 24 hours.
Enzyme (MLN) Price Prediction: 2024, 2025, 2026, 2027, 2028, 2029, 2030
At the time of writing, Enzyme (MLN) is trading at $19.89 – down 5.54% over the last 24 hours. Based on its current market value, we have projected the minimum, maximum, and average prices at which the token could change hands between 2024 and 2030.
Note that the numbers given below are purely speculative and could change depending on how MLN performs in the market.
YEAR | MINIMUM PRICE | AVERAGE PRICE | MAXIMUM PRICE |
---|---|---|---|
2024 | $3.93 | $101.14 | $511.85 |
2025 | $2.08 | $12.98 | $199.58 |
2026 | $6.47 | $14.87 | $38.24 |
2027 | $10.02 | $25.02 | $71.62 |
2028 | $2.13 | $21.60 | $484.06 |
2029 | $0.04504 | $11.35 | $52.09 |
2030 | $7.84 | $35.42 | $47.29 |
Where Can You Buy Enzyme (MLN) Token
Enzyme (MLN) tokens can be purchased and traded on the following cryptocurrency exchanges:
- Binance
- Coinbase
- OKX
- Kraken
- Gate.io
- Bitfinex
- MEXC
- Crypto.com
- HTX
Is Enzyme (MLN) a Credible Cryptocurrency Investment?
Enzyme is an Ethereum-based protocol that aims to create an all-new standard in asset management by removing the age-old barriers set by traditional financial markets and fund managers.
The platform allows users to create and manage their own investment funds and invest in any portfolio that has been deployed. From exchange-traded funds (ETFs) to discretionary, there are over 300 crypto and traditional investment choices available on Enzyme.
By automating the back and middle office processes using smart contracts, Enzyme not only makes it faster to issue funds but also removes the need for a middleman in transactions. The platform is trusted by various DeFi entities, such as Unslashed Finance, FWB DAO, Human DAO, and others.
All things considered, I would recommend Enzyme as a credible cryptocurrency investment as it offers a solution that will propel DeFi into the upper echelons of the traditional asset and investment management sector.
As is the case with any cryptocurrency, MLN is also prone to the extreme price dynamics of the crypto market. Therefore, you must thoroughly research Enzyme to understand the benefits and risks of the project before making any investment decision.