What is the current price of Enzyme?
The current price of Enzyme is $1.37 with a 1.64% change in the last 24 hours.
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Prices and notionals are USD-equivalent venue units, with USDC collateral. No currency conversion is applied. Notional = venue price × base-asset size. Contract specifications
Derivatives and mapped ecosystem data, with source timings and coverage.
Enzyme is on-chain asset management infrastructure: it lets fund managers, businesses and institutions create smart contract vaults that hold assets, issue shares to depositors and run investment strategies on public blockchains. MLN is the protocol's utility token, used to pay protocol fees at a discount, and the tokens collected this way are burned. Enzyme matters because it is one of the longest-running projects building tokenized funds, a category that has become central to the real-world asset (RWA) and institutional DeFi story.
The company now describes itself as global infrastructure for tokenized finance, with three product lines: Onyx, Blue and Myso.
According to Enzyme's documentation, the project was founded in 2017 by Mona El Isa, with a mission to level the investment playing field through decentralized finance infrastructure. The project started under the Melon name, which is why the token ticker is MLN and why the original protocol code still lives in the melonproject GitHub organization, while current development happens under enzymefinance. Enzyme began as an asset management protocol and later expanded into a broader tokenization platform aimed at enterprises and regulated firms.
An Enzyme vault is a smart contract configured by its owner. Depositors put assets into the vault and receive shares in return. Those shares are ERC-20 tokens, and the vault owner can set whether they are transferable and whether lock conditions apply. The vault can then deploy its assets into other DeFi protocols according to its strategy and rules.
The protocol charges a fee on assets under management, collected by minting additional vault shares rather than by taking cash. The standard rate is 50 basis points, which falls to 25 basis points when the fee is settled in MLN. Vault managers can use an Auto Buyback feature to buy back those extra shares with MLN at a 50% discount, which achieves the lower rate.
Official resources: Enzyme website, documentation and the Blue app.
The official tokenomics page describes MLN as a utility token that gives access to the protocol. Key points:
Fees are paid in MLN at a discount. The MLN needed to access the network equals 25 basis points of the assets linked to a user's vaults.
Collected MLN is burned. Once fees are collected in MLN, those tokens are automatically destroyed.
There is a capped yearly issuance. Up to 300,600 new MLN can be minted each year by a minter contract to fund protocol development and growth. Tokens not spent by the end of the year are typically burned.
Non-payment is penalized. If a vault does not pay in MLN, the protocol dilutes its shares by 50 basis points instead.
The documentation openly states that inflation is likely to exceed the amount burned for many years, so MLN should not be assumed to be deflationary.
Enzyme combines permissionless vault contracts with tooling for regulated use. The company states that it is SOC 2 certified and supports compliance frameworks such as MiFID II, MiCA, AIFMD, UCITS and SEC rules. It also runs on EVM networks and has extended to Rayls and Canton, networks used for institutional tokenization. Few DeFi asset managers target both crypto-native strategies and regulated fund structures in one stack.
Enzyme is an application layer, not a chain. Compared with yield aggregators such as Yearn Finance, which run their own pooled strategies, Enzyme gives managers the tools to run their own vaults with custom rules. Compared with RWA issuers like Ondo Finance or Centrifuge, which focus on bringing specific real-world assets on-chain, Enzyme focuses on the fund wrapper and administration infrastructure.
Enzyme states that its controls are independently audited and that it has had no security breaches over its operating history. The documentation includes dedicated pages on risks and limitations, known risks and mitigations, and a bug bounty program. Governance runs through two committees: a Strategy and Operations Committee focused on direction, and a Technical Committee responsible for protocol robustness, including audits. MLN itself is secured by the underlying chains (Ethereum, Polygon and Arbitrum).
Tokenized funds are one of the clearest institutional use cases for public blockchains. Enzyme has been building this infrastructure since 2017, and its MLN fee-and-burn design ties token demand directly to how much capital is managed through the protocol.
MLN trades on centralized exchanges and on decentralized exchanges on Ethereum and the other networks where it is deployed. Verify the Ethereum contract (0xec67005c4e498ec7f55e092bd1d35cbc47c91892) on Etherscan before trading. The Polygon and Arbitrum versions can be checked on Polygonscan and Arbiscan.
MLN is an ERC-20 token, so it can be stored in any EVM wallet such as MetaMask or Rabby, or on a hardware wallet like Ledger or Trezor. Make sure your wallet is set to the same network (Ethereum, Polygon or Arbitrum) as the tokens you hold.
Track Enzyme live price, chart, market cap, and volume in real time. Practice mock trading and demo trading for Enzyme on CoinRithm before using real money.
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Read the complete paper trading guideThe current price of Enzyme is $1.37 with a 1.64% change in the last 24 hours.
The daily trading volume is $5,252.88 representing a 45.27% change in the past 24 hours.
The market capitalization of Enzyme is $4,101,551, ranking #782 globally.
The fully diluted valuation (FDV) of Enzyme is $4,101,551, calculated assuming the total supply of 2,988,290 MLN is in circulation.
Circulating: 2,988,290. Total: 2,988,290. Max: N/A.
In the last 24 hours, Enzyme traded between a low of $1.35 and a high of $1.40.
MLN/USDTTether USDT1.37 USDT
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