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Enzyme Finance is a protocol that facilitates the creation and management of pooled digital assets on the blockchain. By utilizing smart contracts, Enzyme automates back and middle office processes, providing a platform for asset managers and fund sponsors to establish their own tokenized investment vehicles.

In December 2020, the project underwent rebranding from Melon Protocol to Enzyme Finance.

Melonport AG, established in July 2016 in Zug, Switzerland, aimed to develop Melon, which is an asset management computer built on the Ethereum blockchain. In February 2017, the company conducted a token sale to raise funds for development.

The team envisions a future where various asset classes are tokenized, and they see Melon as not only a crypto investment management tool but also the infrastructure for cross-asset class investment management 3.0. In February 2019, Melonport AG released v1.0 of the Melon protocol and transferred control to the Melon Council DAO, operating on aragonOS.

The Melon protocol aims to facilitate the establishment, management, and investment in funds of digital assets in a decentralized, transparent, and competitive manner. Asset managers can create their own tokenized investment vehicles and define essential parameters such as fee structure, trading exchanges, asset universe, risk management, and investors. These parameters are deployed to the blockchain and enforced by smart contracts, eliminating the need for intermediaries. Investors can be confident that the pooled digital assets will be managed and administered as specified in the on-chain investment vehicle setup, leading to cost, time, and operational savings.

What sets Melon apart from other asset management protocols is being the first decentralized infrastructure of its kind. It enables investors to retain control of their private keys, ensuring custody of their assets at all times. Melon opens up various opportunities, including:

• Unlocking a wide range of Web3 native use cases, such as DAO treasury management, staking funds, prediction funds, and crypto-kittie collectible funds
• Enabling anyone, anywhere to establish an on-chain track record and build a digital CV
• Allowing individuals to monetize their talent through management and performance fees
• Lowering barriers to entry and providing investors with access to transparent investment opportunities (funds)
• Facilitating the creation and management of Web3 native investment vehicles, including Melon for back and middle office functions, decentralized exchanges for trading venues, Compound and others for lending/borrowing, and Numerai for information sourcing
• Implementing on-chain risk management to prevent undesirable behavior in asset management
• Integrating with DeFi at the smart contract level to become an all-in-one protocol for DeFi, offering functionality composability and benefiting from substantial network effects