The cryptocurrency industry is becoming more and more organized and interconnected, with the goal of essentially reaching a status of a single, massive network that would unite and combine all of the crypto industry’s products and services and become the next generation of the internet — Web 3.0. Of course, this will include cross-chain bridges, improvements, optimizations, integrations, and more.
Given how much needs to be done, Web3 will likely take a bit of time to arrive. However, we are already seeing individual projects building bridges to other chains, while in the DeFi sector, new projects are emerging with the goal of making DeFi easier to access and manage.
A project called Enzyme is a good example of this, as it emerged as an easy-to-use DeFi asset management system that funds. investment clubs, DAO treasuries, and various companies can plug into. Once they do, the project offers simplified interactions with the rest of the DeFi sector by acting as an aggregator of protocols. The goal is to make asset management experience as seamless as possible, which eventually leads to greater adoption of DeFi, and through it, blockchain, itself.
How Does Enzyme (MLN) Work?
Enzyme is a project that aims to enable depositors to connect with Vaults in a non-custodial and trustless way. It offers several kinds of services, including the ability to manage your own treasury, build, test, and use various Vault strategies, and even create your own indexes and make the underlying vault shares transferable.
With it, users get to build, scale, and monetize strategies, regain full control of their assets at all times, and even access the broader DeFi sector. The project is extremely focused on transparency and security, and its efforts are actively contributing to the adoption of DeFi and blockchain.
What Problems Does Enzyme (MLN) Solve?
Enzyme aims to do more than simply make DeFi a bit more convenient. There are problems that it solves and advantages that the entire DeFi sector can benefit from. For example:
Full transparency about how strategies work
Transparency has been a big word in the crypto industry ever since the crypto industry was invented. The potential to eliminate corruption, theft, scams, and alike by making all transactions transparent and available for people to see has been around since Bitcoin’s own genesis block. However, Enzyme goes a step further and it aims to ensure that even the performance of strategies would be as transparent and possible, with all the information about how they are set up, how they are operated, and how they are composed.
Access to a large DeFi universe
Another big thing that Enzyme aims to achieve is providing access to the ever-growing universe of DeFi tokens and protocols. As things are now, DeFi is a smaller representation of the blockchain world, where all projects exist in their own little bubbles, and can be found all over the place. The goal of Web3 is to connect them into a single network that would make them easy to access and jump to and from. Similarly, Enzyme aims to connect all the DeFi protocols and allow users to access them from a single place, without having to navigate from one to the other manually. So, whether you want to earn yield through lending, engage in staking, provide liquidity, invest in an insurance mutual, or something else — you can do it all through Enzyme.
Pushing adoption
By making strategies available and transparent, and making it easy to engage with various DeFi protocols and services, Enzyme is also contributing to the DeFi, and overall crypto and blockchain adoption. You see, the most important thing in all of the blockchain industry is convenience and ease of use. In order for crypto and blockchain to reach adoption, they need to be easy people who would use them.
In order to get people to use them, they need to be simple enough so that everyone would understand how to use them and what they are doing, while this can only be achieved if it is simple, practical, and convenient.
Benefits of Enzyme (MLN)
We talked about how Enzyme can help the blockchain and DeFi industries, but let’s see how it can help you, personally. There are a few benefits you ought to be aware of if you are considering whether or not to join this project. For example:
Keep custody of your assets at all times
When you use Enzyme, you get to keep custody of your own assets at all times. Enzyme allows depositors to interact with its vaults in a non-custodial way, where minimal trust between the parties is required. In other words, you are in control, and you are the one who makes all the decisions, which is meant to empower the user.
Empowers users to build and scale vaults
Enzyme also empowers users to build and scale vaults based on the investment strategies that they choose. That can include anything, from discretionary and robo, to entire ETFs and market-making. Furthermore, the highest priority at any time is security. The project’s smart contract-enforced platform is thoroughly tested and audited before any deployments on the mainnet are made.
Build, scale, and monetize investment strategies
Enzyme acts as a decentralized asset management infrastructure that uses Enzyme Smart Vaults where individuals, and even entire communities can dedicate their time and efforts towards building, scaling, and monetizing investment or execution strategies that rely on the newest innovations in the decentralized finance sector.
Bottom Line
DeFi is advancing and growing at all times, and at this point, it needs to evolve into a more user-friendly and convenient system, which is what Enzyme aims to enable. It is also highly customizable, which gives users the freedom to build anything they want in DeFi. As such, it can be considered to be an entire DeFi Operating System, with the interface and smart contracts that aim to satisfy all user needs.
