Melonport is a private company that is responsible for the building of the Melon Protocol.This is an open source protocol that is part of the bloc
Melonport is a private company that is responsible for the building of the Melon Protocol.
This is an open source protocol that is part of the blockchain protocol. Melon Protocol is intended for use in asset management and is built on the Ethereum platform. This means that there will be no downtimes, fraud or third party interference.
With this platform users will be able to set up and manage their assets as well as make new investments. Melonport will evolve digital asset management by empowering its users and creating an open, decentralized and competitive manner to make and manage their investments.
The asset management records are open-source. This means that they can be audited by anyone at any given time. With such transparency, growing reputation is very easy making one a preferred investor for many.
This platform is easily expandable and flexible. New functionality and features can be added by any developer with no need to request for permissions.
The management strategies users can use in this platform create a competitive environment. The time taken and the cost requirements are greatly reduced.
With a decentralized storage and execution, those who use Melonport find it more efficient with no custody and counter party restrictions.
How to Use
There are two ways that users can use to invest in a portfolio. You can buy shares of a portfolio you are interested in from a marketplace as they are traded. You can also create shares. To do the latter you need to invest Ether directly into the smart contract of the portfolio.
To redeem from any portfolio users will be required to either sell their shares or annihilate them. to annihilate the shares one can redeem the shares into a different portfolio or redeem the shares into Ether through a trade program.
Cryptocurrency to be used
The Melon Token (MLN) is the digital token that will be used to strengthen and build the Melon Protocol. One can get their hands on these by relying on the any contribution period.
Melon tokens will be the currency used to charge all usage fees. Smart contracts called ‘Governance and Multichain Fund’ will be used to collect all the tokens. In the Melonport there are module developers instead of miners. The module developers are incentivized using the Melon tokens as well. There will be an amount of Melon tokens created for them via inflation. This will serve to future proof the development of this platform so it will remain around for a long time.
If you have been looking for a smart way to invest then Meloport is perfect. It is reliable, open-source and has a bright future.