Explore how Enzyme (MLN) empowers decentralized, tokenized fund creation and management, revolutionizing DeFi investment for all users.

 (DeFi) protocols have been around since 2015, when the 

 (ETH) blockchain was born. For the past decade, DeFi has been a major driving force in the crypto industry. As it often happens, things that worked perfectly in the early years of the DeFi revolution no longer adequately meet the needs of today’s users.

In order to stay competitive and relevant, DeFi protocols need to adapt to the evolving nature of the industry. New features that are quickly becoming must-haves include cross-chain functionality, architectural modularity, 

 (AI) and, importantly, user empowerment. This last point is probably the most important one — DeFi solutions today need to support decentralized protocol management, and allow their end-users to be the real driving force behind the platforms' value-generating activities.

Enzyme Finance, formerly known as Melon Protocol, is a DeFi platform that allows users to create and manage tokenized funds and strategies that other users can invest in. Enzyme aims to empower DeFi users by allowing anyone to become an investment manager or crypto investor — or both. Enzyme fund managers generate value for themselves, other users and the protocol, while fund investors support value-generating activity with their liquidity contributions.

 (MLN) is an Ethereum-based DeFi protocol that allows users to create tokenized investment products on-chain. 

Other platform users can invest in these funds to earn returns. These tokenized products, created as vaults, follow various trading strategies set by the vault creator. Additionally, creators can assign delegated traders to their vaults who can optimize the strategies followed by the vault. As such, Enzyme acts as a decentralized noncustodial solution that serves the needs of skilled crypto fund managers, traders and ordinary investors who would like to see their investments grow.

Enzyme’s protocol empowers the various groups of DeFi users and breaks down the barriers to entry to investment management, active trading and investing. In the world of traditional asset management, creating and launching an investment fund product is an extremely costly and time-consuming procedure. It could take aspiring institutional entities months, if not years, to get their fund vehicles approved, and the financial requirements for a successful asset management product are often staggeringly high, sometimes running into millions of dollars.

In stark contrast to the onerous requirements of traditional funds, launching your tokenized fund product on Enzyme Finance can take from minutes to a few hours at most. There are no significant capital requirements for a vault, either, and fund creators can assign a variety of fees and rules for joining their investment vehicle. Therefore, investors might need to meet certain requirements, depending upon the settings defined by the vault creator.

Enzyme Finance is among the oldest surviving DeFi protocols on the market. The project was initially conceptualized and founded in 2017 under the name Melon Protocol by mathematician Rito Tinkler and former vice president of Goldman Sachs, Mona El Isa, who also acted as the CEO of Melonport, the now-defunct private company behind the Melon Protocol project.

In 2019, Melon was launched on the Ethereum 

. The following year, Melon rebranded to Enzyme. Over the years, the platform underwent multiple version upgrades, culminating in the latest version, Enzyme v5. The latest version of the protocol has implemented (or aspires to implement within 2025) several innovations and improvements, including more cross-chain product options, better architectural modularity, simplified protocol fees, 

 as its infrastructure layer to support vault creation, depositing, trading strategy execution, cross-chain transfers and other key functions required for tokenized fund management and investing.

Vault creators are provided with easy-to-use tools to launch their tokenized asset management funds and execute fund operations — without any programming skills required. These tools help creators automate strategies to do the following:

Creators can also assign the role of Delegated Trader to users who are ready to help optimize the vault's yield using their own strategies.

Another key user group is the depositors, who invest their funds in the vaults to earn returns.

The platform also welcomes builders — developers who can contribute their own third-party solutions to improve the Enzyme ecosystem. Typical contributions by builders include the functionality to bridge Enzyme vault strategies with off-platform (and often, off-chain) financial vehicles. Builders also help develop specialized products for additional functions on Enzyme — such as an app to attract early liquidity, users and investors for projects at a pre-launch stage.

Enzyme.Blue is a specialized solution for institutional entities. It acts as an all-in-one platform for tokenized asset management, trading, analysis and valuation. While anyone can use the core Enzyme protocol, Enzyme.Blue provides all the necessary tools for complex fund management that addresses the needs of the most sophisticated enterprise users.

Using Enzyme.Blue, institutional digital asset managers can access over 30 DeFi protocols for features like 

Enzyme.Onyx is another enterprise-grade, packaged solution offered by Enzyme Finance. To be launched in the summer of 2025, Onyx offers institutional asset managers an advanced wallet tokenization layer. Wallets linked to Enzyme.Onyx can be used to seamlessly collect deposits from multiple participants and allocate the funds to a virtually unlimited variety of protocols and strategies.

Onyx is envisioned as a tokenization and asset management solution with more options in terms of assets and accessible blockchains than Blue. Per the project’s website, Onyx will boast network compatibility with any blockchain, whereas Enzyme.Blue is compatible with Ethereum, Base, Arbitrum (ARB) and Polygon (POL). Unlike Blue, Onyx will boast ultimate cross-chain accessibility. The number of cryptocurrencies supported by Onyx will be “unlimited,” while Blue features support for over 200 crypto assets.

Enzyme.Myso is a secure platform for creating, managing and trading on-chain options strategies. For options traders, Myso provides a rich set of customizable features. It also boasts wide token support, deep liquidity and on-chain, noncustodial settlement.

Enzyme.Myso may be an ideal product for options-based strategies for a wide variety of 

 entities. A typical user of Myso could be a digital asset management firm, a crypto whale or a 

MLN is Enzyme Finance’s native cryptocurrency. An ERC-20 asset on Ethereum, the MLN token has a number of key functions within the protocol. To begin with, users pay fees on Enzyme with MLN to utilize the services offered by the platform, including launching vaults and investing in them. MLN that’s collected from the protocol’s fees is automatically 

 in order to maintain supply scarcity for the asset.

The Enzyme network has also committed to minting 300,600 MLN each year to fund its ecosystem development. The Enzyme Council DAO can then allocate these MLN funds as grants to promising initiatives. Any unused MLN from these yearly allocations is burned at the end of the year.

Additionally, going forward, the token is envisioned to be used for governance as well, so MLN token holders will have the right to vote on the direction of/changes to the protocol.

MLN has a total and circulating supply of 3,001,195, with no specified supply cap.

 in Bybit's Innovation Zone as a Perpetual contract based on USDT. The contract allows you to trade with up to 50x leverage.

As of Apr 29, 2025, the MLN token is trading at $9.51, which is 96.3% lower than its ATH of $258.26 on Jan 4, 2018, and 430.5% higher than its ATL of $1.79 on Mar 13, 2020.

Long-term price forecasts for MLN are mostly bullish. DigitalCoinPrice 

 of $32.15 in 2027 and $48.73 in 2030, respectively, whilePricePrediction 

Enzyme Finance helps fund managers decentralize traditional asset management and apply diverse investment strategies. Its technology is among the leading solutions for institutional entities to launch completely customizable, own investment funds in the area of on-chain asset management. For individual users, the protocol can also be a great source of cost-effective investments, thanks to the variety of vault strategies it offers.

Additionally, the platform's enterprise-focused products enhance user experience by providing a unified asset management environment with a rich tool set to manage the most complex strategies. 

Thanks to Enzyme, cryptocurrency portfolio management has never been easier, both for fund managers and investors.

Intermediate

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Enzyme (MLN): The backbone of tokenization finance

In this article, we’ll explore Zora’s decentralized social network, the ZORA token launch, and how Bybit users can trade ZORA on Bybit.

The social media landscape is currently flawed. Its challenges for creators range from opaque monetization policies to platforms that take a big cut of creators’ earnings. Zora, a decentralized social media protocol, aims to fundamentally change this paradigm, giving creators control over their content and introducing novel monetization techniques through tokenization. 

In this article, we’ll explore Zora’s decentralized social network, its key features and the ZORA token, and learn how Bybit users can participate in the Zora launchpool event.

Zora is a new decentralized social media protocol with a unique approach to content monetization. It allows creators to tokenize every post (text, image or video) by allowing each post to be minted as an 

 (termed a “Content Coin”). Zora is built on the 

 incubated by Coinbase. On Apr 17, 2025, the official Base X account 

 the “Base is for everyone” content coined on Zora. Following that post, user activity on the platform spiked.

Zora was co-founded by Jacob Horne and Dee Goens. Horne, a former product manager at Coinbase, is recognized for his advocacy of open-source 

 infrastructure, and Goens contributes his expertise in community development.

The project has successfully completed several funding rounds. In 2020, Zora secured $2 million in seed funding with participation from firms including Kindred Ventures and Coinbase Ventures. This was followed by a $10 million raise in 2021. The project's growth continued with a Series B round on May 5, 2022, expected to raise $50 million at a valuation of $600 million.

Zora launched its Ethereum-based NFT marketplace, known as “Auction House,” in January 2021. This was designed as a decentralized, permissionless platform to empower creators to mint, list and auction their NFTs. One key innovation introduced by Auction House was the concept of the 

 to improve NFT liquidity. Over time, Zora expanded beyond Auction House and Ethereum, transforming into a comprehensive decentralized social media platform. It uses the same ERC-20z standard to create a tradeable coin from each piece of published content. 

Each of these coins has a total supply of 1 billion units, with 10 million automatically allocated to each coin’s creator. These tokens are instantly tradable on 

 (DEXs) such as Uniswap via the Base network, providing liquidity and enabling creators to monetize their work. Additionally, creators earn a 0.5% fee from each transaction involving their tokens, offering a new avenue for content monetization.

ZORA tokenomics and token unlock schedule

Zora announced the launch of ZORA community coin — along with its airdrop details and tokenomics — on Apr 21, 2025. The coin went live on Base two days later (April 23). 

The total supply of ZORA is 10 billion, with initial allocation as follows:

According to the project’s official docs, the ZORA token was launched “for fun only.” ZORA token holders have neither governance rights, nor a stake in the Zora protocol.

The tokens will be unlocked linearly as follows:

 on Apr 23, 2025. Users can stake ZORA, MNT or USDT to earn a share from a substantial prize pool of 100,000,000 ZORA tokens. 

The event runs through April 30, 2025, 1PM UTC. Staking requirements are as follows:

If you're interested in the ZORA token, don't miss this opportunity! Visit the 

 (FDV) of ZORA stands at $187 million. ZORA gained 11.3% over the past week, with a 24-hour trading volume of $42.6 million.

Bybit has recently listed the ZORA token on Bybit Spot 

To trade ZORA on Bybit Spot, log in or create a Bybit account 

 (UTA) with crypto transfers or fiat deposits. Then, head to the 

 Spot trading page to start trading. In addition, Bybit users can also trade the 

 with up to 25x leverage with Bybit Futures.

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Zora (ZORA): Creator-focused on-chain social network

Bybit Lens is an AI-powered trading intelligence tool that consolidates real-time data, market sentiment and trading signals into one streamlined interface.

In crypto, timing is everything — in addition to knowing where to look. When the markets move fast and narratives shift even faster, digging through charts, Telegram threads and X timelines can feel overwhelming. Besides, every second you spend searching for data could mean a missed opportunity. That’s where Bybit Lens comes in. More than just a research tool, Lens is your real-time, all-in-one AI-powered assistant. Lens puts market insights, project data and tailored strategies at your fingertips so you can go from trend-spotting to trade execution in a single flow.

 is an AI-powered trading intelligence tool that consolidates real-time data, market sentiment and trading signals into one streamlined interface.

Developed as part of the TradeGPT suite, Lens is more than just a dashboard; it’s your personal crypto analyst that never sleeps. Backed by high-quality data sources and built for actionable clarity, Lens helps traders cut through the noise and make better, faster calls.

Behind the scenes, Bybit Lens draws from a robust mix of data streams and intelligent systems. First, it taps into SoSoValue, a leading provider of on-chain metrics, giving you visibility into wallet activity, token flows and project traction across 

s and DeFi platforms. Then, it layers in proprietary insights from Bybit’s own centralized exchange — everything from order book movements to open interest and user sentiment that you simply can’t find elsewhere.

But Lens doesn’t stop at hard data. It also tracks market-moving reports from institutions, as well as real-time buzz on social media from traders, KOLs and crypto Twitter. These multiple data layers are then distilled through AI-powered models that identify trends, extract relevant signals and generate a clear summary of what’s happening and what you might want to do about it.

The experience is intentionally simple. You’ll land on a clean interface that surfaces the day’s hottest assets via 

. From there, click into any project and you’ll be met with a full analysis: basic background, recent trading performance, community and media sentiment plus an AI-generated strategy overview. 

It’s like having a research analyst in your pocket, minus the jargon.

Where most tools stop at data, Lens goes a step further, offering suggested trade ideas based on your behavior, preferences and what’s trending in the market. 

What makes Lens different from every other market tool out there? It's not just the technology — it’s the way everything comes together in one place, designed for actual traders.

With Lens, there’s no more flipping between 10 tabs just to figure out what’s moving. Instead, you get a single interface where market trends, community buzz, trading strategies and execution all converge. The platform doesn’t just surface noise, it condenses it into clarity. Even if you’re new to trading, Lens breaks things down in a way that feels intuitive, not intimidating.

Another key advantage is the tailored nature of its insights. Lens looks at your trading behavior and portfolio preferences, then offers AI-backed strategies that align with your style. It’s like having a tool that not only understands the market, but also understands you.

And because it’s part of the Bybit ecosystem, the jump from insight to execution is frictionless. See something you like? One click, and you're on the Bybit trading page, no copy/pasting or toggling required. This seamless experience is especially powerful during fast-moving markets when seconds matter.

Now that you fully understand how Bybit Lens work, let’s take a look at how you can get started with it. You’ll need to have a Bybit account before you can proceed. If you don’t already have one, you can check out our 

: Log in to your Bybit account and hover your cursor over the 

: From here, you’ll be able to view our 

 along with the project’s background information and recent trading data. You’ll also be able to view the current market sentiment, latest news and social media posts on the project, as well as market trends. 

If you have a specific token or project you’d like to know more about, simply type its name into the search field at the top of the page. 

: Looking to capitalize on the current trends and make a move? Click on 

If you’ve ever wished for a smarter, faster way to make trading decisions, Bybit Lens is it. It doesn’t matter whether you’re navigating market hype, unsure of which coin to trade next or just trying to stay one step ahead, Lens brings you the tools and insights you need without the overload. More than just a research platform, it’s a decision-making engine. With Lens, you’re not just keeping up with the market — you’re outsmarting it.

Bybit Lens isn’t just another analytics dashboard. It’s your strategic co-pilot in crypto, an AI-driven platform that transforms noise into clarity, ideas into actions and hesitation into confident trades. With everything you need to analyze, decide and execute in one place, it’s time to trade smarter with Bybit Lens.

Beginner

bybit lens.png

Bybit Lens: Your one-click portal to crypto insights and trading

Ethereum's EIP-9698 proposes raising the gas limit from 36 million to 3.6 billion units over four years, potentially increasing transactions per second (TPS) to 2,000.

Daily top performer — Virtual Protocol (VIRTUAL)

On Monday, the S&P 500 rose 0.06%, and investors now await more key earnings and economic data this week. Gold remains strong long-term but looks overbought short-term. Traders are watching for a pullback to around $3,200 before buying. The Coindesk Indices, which tracks the broader crypto market, rose 0.51%, with Bitcoin up 0.39% and Ether down 0.28%, in the past 24 hours. Trade these markets and more with up to 500x leverage on Bybit MT5 using this 

Today's top performer is VIRTUAL, which surged 35.5% following Virtuals Protocol's full refund to users affected by an exploit attempt.

Virtuals Protocol (VIRTUAL), launched in October 2024, built on Base, lets users create AI agents that interact in 3D spaces. It features IP agents like Luna and functional agents like G.A.M.E., with its native token VIRTUAL powering the platform's economy. 

, including those who sent VIRTUAL directly to the wallet. However, three wallets remain under review for direct transfers. Virtuals Protocol condemned P.L.A.Y Game AI for attempting to exploit the launch, leading to the permanent failure of the P.L.A.Y Game AI launch. A compensation plan is being implemented for affected users, and the protocol reassured the community that it will never ask for funds outside official channels.

Check out the latest prices, charts, and data of 

Ethereum's EIP-9698 proposes raising the gas limit from 36 million to 3.6 billion units over four years, potentially increasing transactions per second (TPS) to 2,000. This gradual, predictable increase would enhance scalability without a hard fork, starting around June 1. Ethereum aims to improve throughput and stay competitive with faster, lower-fee blockchains. If approved, the proposal would automate gas limit growth, optimizing the network’s efficiency and hardware advancements.

Yesterday, BTC spot ETFs saw total net outflows of $379.7 million, with $42.7 million from GBTC and $337.0 million from other ETFs.

Ika, Sui's first sub-second MPC network, is offering an 

. Users can join by either posting about Ika on X (free, via GiveRep) or locking SUI tokens through Spring Sui and completing tasks via the Ink Sack app to earn more rewards. Locking iSUI earns "Ink Droplets," which boost the airdrop size. Ika is backed by $21M+ funding and the Sui Foundation. Full guide: 

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Ethereum's proposal to boost gas limit could increase transactions to 2,000 TPS by 2029

Bybit Learn

web3

iExec is a blockchain company and decentralized cloud platform that allows any user to rent computing power, execute applications and manage data sets.

As more web3 products become available to the public, there are exciting new opportunities for users to take advantage of. Systems like iExec have the potential to change the way the decentralized finance (

) industry runs. Are you interested in getting involved in iExec or investing in the iExec RLC token? Explore this helpful guide to learn more about the network and decide whether it's a good investment for you.

The iExec system consists of multiple products and features. People can create 

, build web3 applications, sell computing power, train models with purchased data, and trade assets. iExec manages all of these features through off-chain 

 smart contracts, and its users can conduct transactions with RLC, the native iExec cryptocurrency.

iExec was founded by Dr. Gilles Fedak, Dr. Oleg Lodygensky and Dr. Haiwu He. The company's roots date

 when the co-founders were working on ways to implement a distributed cloud through 

. Once they learned about Ethereum, they realized that blockchain technology could be the solution to their quest. In 2016, they officially launched iExec as a company meant to offer distributed computing assets through a blockchain system.

Initially, iExec was a small project with just a few developers. However, in 2018, iExec launched its web3 decentralized cloud marketplace, the first of its kind, and it quickly attracted a lot of positive attention. Now, iExec has a team of over 50 engineers, developers, designers and other staff working on the project, who continue to implement new features and add more functionality to the iExec system.

iExec aims to democratize web3 development by offering useful services to anyone working on decentralized applications (

). Their goal is to create a convenient way for anyone to access computing assets, data sets and other services. Instead of having to purchase expensive hardware, users can rent cloud-based computing services from other users who have excess processing space.

Much of iExec's focus is on tapping otherwise unexplored aspects of the blockchain. iExec has become the first company to offer a blockchain-based decentralized cloud market, a new paradigm that makes things far easier for developers. Unlike other companies that let users rent computer power, iExec's goal is to keep things decentralized and simple. They pride themselves on providing a very convenient interface and extremely secure, reliable transactions.

iExec works through a thoughtful blend of multiple mechanics. The system is built on XtremWeb-HEP, an open-sourced 

 software that lets DApps use any of the computing resources within the iExec system. It's essential for renting out processing power. In the iExec system, cloud resource sellers with excess computing power can join worker pools and set their own prices for using their resources. DApp developers can then browse the marketplace and purchase computing power at their preferred price.

The system is managed through smart contracts that run on a unique

. All funds that users pay for computing power are locked while the worker pools process the user's request. Computing providers only receive funds if they all achieve consensus, and prove that the provider has actually completed the requested work. PoCo is run on the iExec sidechain, and the Ethereum mainchain is only updated once all PoCo off-chain computations have been finalized.

Though the iExec network initially started only as a computing power provider, it has branched out considerably over the years. More and more features have been added to help iExec users work on DApps. Let’s look at some of the many exciting features of this system.

 is iExec's trademark feature. Most people who use this virtual cloud infrastructure do so to buy and sell computing power in the marketplace. iExec's decentralized marketplace lets resource providers make money off of excess computing power, while users can obtain extra processing power without needing to invest in pricey hardware.

Blockchain oracles are a valuable feature that help users transfer outside data into a blockchain. For example, once an oracle is created, a user can set up a program to automatically make purchases when a cryptocurrency reaches a certain price. In the iExec 

, users can browse oracles created by others and incorporate these into their own projects. The iExec oracle factory contains many computing resources to simplify DApp development.

 is a user-friendly service that connects people to all the other features found within iExec. You can create an account in the portal and then use a wide range of products and tools for making DApps. The portal provides helpful features, while ensuring developers still retain privacy and ownership over their projects.

 offers a wide range of data sets for developers. You can use the company's cloud resource sellers, refine your project or purchase data to train your DApp.

As part of its push to encourage web3 development and virtual cloud infrastructures, iExec hosts several different Developer Rewards and Grants programs. If iExec feels your project has merit, they may provide helpful funding for it. You can also make money by claiming bounties for completing various projects.

iExec has implemented many exciting projects over the years, from simple cloud-based processing rentals on the cloud-computing iExec marketplace to the iExec network, which hosts a broad range of developer tools, grant programs and other decentralized network features. Recently, iExec has been focusing on ways to build its community. Its road map includes new developer bounties, a variety of hackathons and other events and developer project showcases.

In addition to these more social goals, iExec has prioritized its cryptocurrency and NFT programs. After recently getting RLC listed on some major exchanges, iExec is starting a new

 to boost its RLC token, creating iExec Worker Pass NFTs and rolling out some new technical upgrades in 2023.

iExec's native cryptocurrency token is RLC, which stands for "Runs on Lots of Computers." RLC is an 

 token that’s used throughout the entire iExec decentralized network. Users can make payments for all iExec services with RLC, and resource providers can also earn RLC through the various user reward systems.

RLC was released on Apr 20, 2017. Almost 

), and a total of 10 BTC were collected through the ICO. The coin has a max supply of 86.99 million tokens. RLC has a current circulating supply of 72.4 million coins, so at its current price of $1.81, the coin has a market cap of close to $131 million.

RLC has been around for years, so the iExec token has undergone a lot of changes. Despite mostly staying under $1, the crypto has had a few notable peaks. In January 2018, its price increased by 516%, reaching almost $4. RLC further impressed investors with an all-time high of $15.51 in May 2021. With so many dramatic dips and peaks, it's no surprise that crypto analysts predict more big changes for this token.

Analysts at PricePrediction believe that RLC will increase to $2.52 by the end of 2023, double to $5.28 by 2025 and reach $17.78 in 2028. By 2030, RLC’s price is predicted to surge to $37.05. 

While analysts at DigitalCoinPrice are also bullish for RLC, they believe its growth will gradually slow to hit $3.84 by the end of 2023 and $6.38 by 2025. They forecast RLC price’s will reach $9.61 in 2028, and continue to increase to $18.25 by 2030.

In the past, most of the big jumps in the iExec token price have been correlated with new advancements from the project. Each time the company releases an exciting new feature, there’s more interest in their token. Therefore, those looking to invest in RLC will benefit from keeping a close eye on iExec news and considering how new announcements might impact RLC’s price.

RLC was initially sold through iExec, but now that the ICO is over, the only ways to obtain it are either from iExec network rewards (for instance, via worker pools) or by purchasing it from other crypto holders. You can purchase the token on a variety of exchanges that offer it for sale in exchange for fiat currency or other cryptocurrencies. 

If you’re interested in trading RLC, you can do so on Bybit, which offers 

As one of the top blockchain-based cloud resource sellers, iExec is a great crypto company to invest in. The RLC token has a lot of important applications and is backed by a robust network of developers and cryptocurrency users. Although this crypto has been around for years and isn’t at its peak price anymore, it's still very reliable.

Based on both crypto price predictions and past token performance, the RLC token seems like an excellent choice for many investors. If you prefer long-term investments in crypto projects with proven success rates, iExec RLC might be the investment for you. As long as you follow safe investment practices, RLC is a great addition to your crypto portfolio. However, keep in mind that this is not financial advice and you should always do your own research.

When it was first created, the iExec network created a new paradigm for web3 developers. Its ability to offer computing resources and services such as the iExec oracle factory and Data Store make it a very helpful and reliable service. As the native token for all off-chain computations, the RLC token is an essential part of the iExec network. This utility makes it a very intriguing crypto to invest in.

iExec (RLC): A Web3 Cloud Computing Marketplace

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