MLN is Enzyme's native utility token. Enzyme was formerly called Melon Protocol and now provides infrastructure for tokenized finance and on-chain asset management; holding MLN itself does not mean owning equity in a company.

Enzyme Price Today, Live Market & Historical Trend Chart

Q: What is MLN used for in Enzyme?

MLN can be used to pay Enzyme protocol access fees. Under this fee mechanism, when paid in MLN, the target rate is 25 basis points of the assets under management associated with using the protocol; collected MLN is automatically burned.

Q: How is MLN issued and burned?

MLN may be burned through protocol fee payments and newly minted for protocol development and growth. Up to 300,600 tokens may be minted each year to fund ecosystem projects, development, maintenance, and audits; unused tokens are generally burned at year-end.

Q: Does MLN's burn mechanism guarantee a supply reduction?

Burning does not necessarily mean the token supply will decrease immediately. Enzyme's mechanism allows annual new minting, and project materials state that new issuance may exceed the amount burned over multiple years; therefore, minting, distribution, and burning should all be considered, rather than burning alone.

Rank 1436

$1.3939

-$0.0135(-0.96%)

Market Cap

$4.52M

24h High

$1.4332

24h Low

$1.3783

24h Turnover

$887.07

Total Supply

3.27M

Market Sentiment

Neutral

Enzyme (MLN) Price Performance

View Enzyme (MLN) Price Prediction

Enzyme (MLN) has a Last Price of $1.3939, with a 24h change of -0.96%. The 24h low is $1.3783, the 24h high is $1.4332, and the 24h turnover is $887.07. The current market cap is approximately $4.52M, ranking 1436 by market cap and accounting for 0.000085% of the total crypto market cap. The All-Time High is $258.2600 (⁦2018-01-03⁩), with a change from the All-Time High of -99.46%.

7 Days
-0.37%
Low
$1.3589
High
$1.7900
30 Days
-1.55%
Low
$1.3123
High
$2.1000
90 Days
+5.45%
Low
$1.1070
High
$2.3500
1 Year
-84.10%
Low
$1.1070
High
$9.7200

Fear & Greed Index

0 Extreme Fear100 Extreme Greed

Yesterday: 55; Normal
Last Week: 62; Greed
Last Month: 70; Greed

The Fear & Greed Index is currently 63/100, in the Greed zone; change from yesterday: +8, from last week: +1, and from last month: -7. Lower values indicate more fearful sentiment, while higher values indicate more greedy sentiment. This does not represent price change.

Why Did Enzyme (MLN) Fall in the Last 24 Hours?

MLN’s technical signals were broadly bearish, but differed across timeframes: the 4-hour moving average was bearish and the 15-minute RSI was overbought, while most other RSI and moving-average readings were neutral. ADX indicated limited trend strength or directionality; a high daily ADX alone does not establish direction, and there were no MACD crossovers on any timeframe. In the order-book snapshot on 2026-10-21, top-five bid volume was about 3.65 times ask volume, but the largest bid represented about 65.3% of bid volume and the largest ask about 99.0% of ask volume, indicating concentrated orders. The bid wall could limit declines and the ask wall could limit rebounds, but a single snapshot does not reveal trader intent. The candle at 12:00 UTC that day closed at 1.4307, after which price retreated; volume was unavailable, so the scale of selling cannot be confirmed. A shallow order book can magnify the price impact of limited trading, but these technical and liquidity factors alone do not establish the cause of the decline.

About Enzyme (MLN)

Mln is an Ethereum token that supports enzyme (formerly known as the melon protocol), which is designed to facilitate the management of on chain assets in the defi ecosystem. Mln allows users to build, share and explore defi investment strategies (called "vaults") while filtering by historical performance and risk profile. Mln is used to pay for various functions throughout the Treasury creation process and investment life cycle. The mln token is a utility token that energizes the ecosystem and aligns stakeholders. The token has two purposes: the user pays for the use of mln tokens. Developers or external contributors can obtain mln tokens by submitting grants.

Use Cases and Features

MLN is Enzyme’s native utility token; Enzyme was formerly known as Melon Protocol. It can be used to pay protocol access fees; when paid in MLN, the target fee is 25 basis points associated with the assets under management using the protocol, and collected MLN is automatically burned. When payment is not made in MLN, the relevant vault shares may be diluted at a higher rate, so MLN’s role is mainly tied to protocol use and the fee mechanism.

Supply and Issuance Mechanism

MLN’s issuance mechanism includes new minting for protocol development and growth: up to 300,600 tokens may be minted each year by the minting contract for the Enzyme Council DAO to review grant applications and allocate to projects, developers, maintainers, and auditors. Unused tokens of this type are generally burned at year-end. MLN collected by the protocol is also burned automatically, but new issuance may exceed burns over many years.

Margin

USDT

Asset Manager

Finance / Banking

Business Platform

Website

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How to Buy and Use Enzyme (MLN)

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Est.30-Day APR

0.32%

Enzyme (MLN) Basics & Market Insights

Fundamentals

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Frequently Asked Questions About Enzyme (MLN)

What is MLN?

What is MLN used for in Enzyme?

How is MLN issued and burned?

Does MLN's burn mechanism guarantee a supply reduction?

Risk Disclosure

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