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Decentralized finance (DeFi) protocols have been around since 2015, when the Ethereum (ETH) blockchain was born. For the past decade, DeFi has been a major driving force in the crypto industry. As it often happens, things that worked perfectly in the early years of the DeFi revolution no longer adequately meet the needs of today’s users.
In order to stay competitive and relevant, DeFi protocols need to adapt to the evolving nature of the industry. New features that are quickly becoming must-haves include cross-chain functionality, architectural modularity, artificial intelligence (AI) and, importantly, user empowerment. This last point is probably the most important one — DeFi solutions today need to support decentralized protocol management, and allow their end-users to be the real driving force behind the platforms' value-generating activities.
Enzyme Finance, formerly known as Melon Protocol, is a DeFi platform that allows users to create and manage tokenized funds and strategies that other users can invest in. Enzyme aims to empower DeFi users by allowing anyone to become an investment manager or crypto investor — or both. Enzyme fund managers generate value for themselves, other users and the protocol, while fund investors support value-generating activity with their liquidity contributions.
Key Takeaways:
Enzyme Finance is a decentralized protocol that lets users launch their own tokenized investment fund products. Other users can invest in these tokenized funds to earn yield.
Enzyme's native token, MLN, is used for payments to access the platform's products, grant allocations for ecosystem development and governance. You can buy MLN in Bybit’s Innovation Zone as a USDT Perpetual contract.