What is Enzyme (MLN)?

Deep Dive

1. Purpose & Value Proposition

Enzyme acts as a catalyst for tokenized finance, accelerating institutional adoption by abstracting technical complexity. Its infrastructure lets organizations:
- Launch non-custodial vaults for treasury management (e.g., Compound DAO uses it for automated covered call strategies).
- Execute recurring options trades via Enzyme.Myso, an integrated options protocol.
- Manage cross-chain assets and real-world tokenized instruments through Enzyme.Blue, its flagship vault platform.

By handling security and operations, Enzyme allows teams to focus on strategy design rather than infrastructure.

2. Technology & Architecture

Enzyme combines three core layers:
- Vault-as-a-Service: Modular smart contracts for creating permissioned, auditable vaults.
- Onyx: Tokenizes wallets to enable programmable asset management (e.g., synthetic BTC strategies).
- Myso: Institutional options protocol for covered calls/cash-secured puts, automating premiums and settlements.

The system prioritizes composability, letting users integrate DeFi protocols like staking platforms while maintaining granular control over risk parameters.

3. Key Differentiators

Unlike generic DeFi platforms, Enzyme targets professional users with:
- Custom governance: Multi-sig controls, role-based access, and real-time reporting for DAOs.
- Compliance-ready tooling: Supports KYC/AML workflows and audit trails for regulated entities.
- Eight-year track record: Evolved from Melon Protocol (2017), surviving multiple market cycles with zero major exploits (Enzyme.finance).

Conclusion

Enzyme is a battle-tested infrastructure layer bridging traditional finance and DeFi through programmable vaults and institutional-grade tooling. As tokenized assets grow, can its modular design adapt to emerging regulatory and technical demands?