Review on Melon by Japheth Ayuba
A Decentralized method of accessing the Financial market
Melon is a Crypto project built on the Ethereum Network that has come with a single point of view in the Crypto industry. It's basic use case is asset management. That is, Melon creates a system that allows users from anywhere in the world to invest in funds and portfolios which have been created as a Crypto asset by other users who are called Fund managers. It also leverages Blockchain technology to eliminate the plethora of fees and waiting time one experiences while interacting with such funds traditionally.
As a Crypto project, Melon opens the investment market to everyone in any part of the world by decentralizing the investment industry. Also, another good part of this project is that it eliminates high minimum investment amounts usually associated with the funds or portfolios they intend to invest with and this allows small income investors to be onboard the international market. Melon also eliminates the fees required for making this investments as the users only pay gas
The Melon project is an interesting Crypto project that was able to achieve total decentralization as it gave all governance power to the Melon Council, (a DAO) and all operations that happens on its protocol Is handled by verified smart contracts. Going a little bit into some of the technical details, I discovered that the Melon Protocol is two-layered that consists of the Fund and Infrastructure Layers. The fund layer is where users launch and control the funds other users can invest in. To set up this layer, the Hub is put in place and it provides all necessary tools to set up and track funds. The spokes are smart contracts that define the funds and contribute services like Vaults (used for storing tokens) and Shares (which transfer Fund ownership). The other infrastructure layer is one I can't get my head around as I am not a Developer as it was only the Fund layer that concerned me as an
Moving on to it's Tokenomics, Melon has quite the idea for increasing the value of its native token via a Buy and Burn model to shorten circulation and retroactively increase price. These makes its token a valuable asset to it's holders and has made over 20% of my total crypto portfolio. it's technique can be said to be proven to increase the value of the token as limited supply tends to help price action
As a project focused on asset management, everyone has the fears of loosing hard earned money, but Melon is a provably transparent project as all Transactions made appears on the Blockchain. Also, Fund managers are limited from stealing the users funds as everything is controlled by Smart Contracts. Melon is truly a remarkable project and am glad to have discovered it. I know everyone who decides to interact with it's Protocol will be glad they did.
Pros
- Melon protocol is a remarkable crypto project focused on asset management and has through smart contracts, eliminated to the minimalistic level possible, risks of fraudulent activities by Fund managers. For this reason, users have no reason whatsoever to fear for the safety of their invested funds
- Melon Protocol leverages Blockchain technology in eliminating high transaction fees usually charged for making investments or setting up a Fund. In the traditional settings, setting up a Fund could cost one $25,000-$50,000 but Melon Protocol takes that away and makes it done with just a few dollars charged for gas fees
- It is a completely Decentralized project and all of its operations are handled by it's Melon Council Decentralized Autonomous Organization DAO. This also eliminates risks of fraudulent tampering with the project by any single entity
- All transactions are transparently and immutably recorded on the Blockchain and this eliminates the needs for complex auditing
- It's Buy and Burn model of reducing token circulation is a great way to increase value of investment to the holders of the native token
- As a Crypto project that allows anyone and everyone to access it's services anywhere in the world, it also makes avail, stocks and funds that are unavailable to certain countries, available to them via it's protocol
Cons
- There has been no negative aspect found in this project so far
