What is Enzyme? Enzyme is a DeFi-focused blockchain project that provides private vault service to its users. In this article, you can find answers to frequently asked questions such as what is Enyzme, what it offers, what is MLN coin, what is it used for, how to get it. As Kriptokoin.com, we have researched and compiled for you.
What is an enzyme?
Enzyme is a decentralized finance (DeFi) focused blockchain project that provides private vault service to its users. Built on the Ethereum Blockchain, the protocol has a native cryptocurrency named MLN coin. The DeFi protocol allows users to manage and invest in wealth funds. Decentralized exchanges (DEX) with high liquidity ratios within the system support more than 200 assets.
Built on the Ethereum Blockchain, Enzyme works via smart contracts. Therefore, users pay a transaction fee with ETH to take advantage of the protocol. Through the protocol, investors can create private safes that work according to their investment strategy. Offering asset management, the protocol automatically implements investment strategies that investors pre-determined. Due to this feature, it can be said that the protocol appeals to investors who are very busy during the day.
For users who cannot follow the crypto money industry at all times, the protocol simultaneously updates the data. In addition, users can inexpensively create embedded software and accounting tools. These tools can perform complex predictions and calculations instantly.
What is MLN Coin? What is it used for?
MLN coin is the native cryptocurrency of the DeFi protocol Enzyme. Users pay with MLN to have their pre-determined investment strategies automatically implemented in the protocol. Besides, MLN works as a governance token. MLN holders can use their tokens as voting rights in decision-making processes that determine Enzyme’s future.
The team behind the project has adopted a “buy and burn” model for the token. Transaction fees paid with ETH are converted to MLN, these MLN coins are burned and removed from circulation. This method is used to increase the value of the token’s price in the long run. At the time of writing, MLN had a market capitalization of around $127.7 million. The token was ranked 366th on the overall cryptocurrency list.
What are the advantages?
- Traders using the Enzyme platform can create safes that will automatically execute their trading strategies. To create these safes, it is necessary to pay with MLN coins.
- The protocol works pretty quickly. Cross-border cryptocurrency transfers and trades are completed in minutes.
- The world’s largest crypto exchange, Binance, recently announced that it has listed a MLN-related pair. This can be seen as a positive development in terms of the value and adoption of the token.
What are the disadvantages?
- Serving in the field of on-chain asset management, the protocol targets experienced investors. Users who are uninformed about creating and using DeFi tools can make a loss through the protocol.
- Keeping MLN coin in online wallets brings with it the possibility of cyber attack. This disadvantage can be resolved by moving assets to a hardware wallet.
What is an Enzyme? How to buy MLN coins?
Investors interested in the Enzyme project are curious about the exchanges where MLN coin is listed. Currently, MLN is supported by major and trusted exchanges such as Binance, Coinbase, and Kraken. Interested investors can purchase MLN by signing up for one of these exchanges and depositing money.
