What is the Melon Protocol?
Melon is an Ethereum based protocol that provides the infrastructure for on-chain asset management.
What is Asset Management?
In Asset management, institutions or individuals invest their client's funds on their behalf using financial instruments with the aim of increasing the invested assets.
Some common examples of asset management include Mutual Funds, Index Funds, Exchange traded funds, Hedge Funds etc.
What Melon offers?
With Melon, anyone can to set up, manage and invest in customized on-chain investment vehicles and have management strategies that exist within a customisable, predefined ruleset.
Melon makes it is easy to set up a fully audited and transparent fund on the Blockchain. Melon is initially using the Ethereum Blockain and will soon open up to other Blockchains.
Using Melon, anyone can set up a fund for less that $50 and in under 10 minutes. Wow, that is both cheap and fast.
Below is a video from the Melon Website explaining how anyone can set up a fund using Melon
To see the existing funds created using Melon visit https://melon.avantgarde.finance/
Here you can check the fund's performance to date and also check the total AUM(Assets Under Management) by each fund.
Alternatively, you can also visit https://monitoring.melon.network/funds that shows that currently there are about 380 funds in total on Melon and about 5000 Ethereum worth of total assets under management. Pretty Impressive isn't it?
What about the Whitepaper?
Well, Melon rather has a Greenpaper that you can read here: https://github.com/melonproject/paper/blob/master/melonprotocol.pdf
What about the Melon token and its functionality?
The Melon token “MLN” is an ERC20 token which is a core component of the Melon protocol. It is designed to provide a “usage and political right” to the Melon software.
The MLN token is used as “asset management gas”. The asset management gas is collected on three functions in the protocol: setting-up a fund; investing in a fund and; claiming any fees (rewards).
Melon Token holders can both vote on the monetary policy(inflation) and technical design.
As of now there are a total of 1,250,000 MLN tokens The protocol inflates by a fixed amount of 300,600 MLN tokens per year to fund developements.
It seems there has been an update on inflation that I can't confirm yet. Also, there have been changes proposed in the token economics or tokenomics.
So for more updates reach out to the team at their official twitter account https://twitter.com/melonprotocol or alternatively visit their website https://melonprotocol.com/
I have also located the twitter profile of one of the co-founders Mona El Isa https://twitter.com/Mona_El_Isa you can follow her for updates.
The current price of Melon is $65 and the price performance of the token off late has been pretty decent. See a chart from CoinMarketCap below:
The total no. of holders stand at 3,709
as per data available from etherscan.io
Major exchanges where Melon is listed are:
Kraken / Bitfinex and Houbi also on Uniswap
Teams building on top of Melon currently:
Avantgarde Finance (lead developer of the Melon Protocol), Ash Finance and Gorilla Funds
All in all Melon looks like a very promising project to me. Please Do your own research. This article should not be deemed as investment or financial advice.
Thank you!
Have a Nice Day!