Enzyme: 去中心化资产管理协议

Enzyme: 去中心化资产管理协议

DAOrayaki DAO研究奖金池:

资助地址: 0xCd7da526f5C943126fa9E6f63b7774fA89E88d71

投票进展:DAO Committee  yes

赏金总量:200 USDC

研究种类:Enzyme, assets management, user-centric models, DeFi, Enzyme Council (EC), Enzyme Technical Council (ETC), Enzyme User Representatives (EUR), Funding layer, Infrastructure layer

贡献者:Jones, Julie, DAOctor @Daorayaki

代币名称:MLN

代币类型:ERC-20

Enzyme协议是基于以太坊的去中心化链上资产管理协议。是个人或实体管理其财富和在可定制和安全的环境中彼此分享财富的协议。Enzyme 使任何人都可以建立、管理和投资定制的链上投资工具。

I. 背景

Enzyme 协议也可以叫“Enzyme Finance”,前身为 Melon,最初由一家名为 Melonport AG 的瑞士公司进行开发,该公司由前高盛副总裁 Mona ElIsa 和数学家 Rito Trinkler 于 2016 年创立。 2019 年 2 月,协议的主网启动,由Enzyme委员会对协议进行管理。 该委员会由Enzyme技术委员会 (ETC) 和Enzyme用户代表 (EUR) 组成,两者将在后续章节中进行介绍。

II. Enzyme Finance (Protocol)如何运作?

Enzyme Finance 是一组智能合约,其计算由以太坊区块链执行。因此,交易费用使用以太币支付。 这些费用包括使用以太坊的计算能力和 Enzyme 软件的费用。

该协议本身由两层组成,一个基金层和一个基础设施层,它带有自己的 Javascript 库,可以支持 Web 浏览器。

1.   基金层

基金层是用户发起和控制账户资金进行投资的地方,每个基金包含两个部分:

The Hub——The Hub被认为是基金层的核心部分,因为它提供了设立基金并跟踪构成基金组成部分的必要工具。

The spokes——The spokes使用智能合约来定义每个由基金经理创建的基金,并为基金提供特定服务。示例包括用于基金存储代币的组件 Vault 和跟踪基金所有权的组件Shares。

2.   基础设施层:

基础设施层由 Enzyme 的 DAO Melon委员会控制。基础设施合约包括:

“适配器”合约——将某些资产与交易的价格信息进行联系。

“引擎”合约——为 ETH 购买 MLN 以帮助支付某些计算费用。

“价格来源”合约——提供基金内行动所需的基本信息。

III. 团队成员

当前委员会人员

- Janos Berghorn:投资者@ KR1 (ETC)

- Giel Detienne:用户代表(欧元)

- Mona El Isa:Avantgarde Finance (ETC) 创始人兼首席执行官

- Felix Hartmann:创始人@ Hartmann Capital & User (EUR)

- Fabian Gompf:副总裁 @ Parity Technnologies (ETC)

- Will Harborne:创始人兼 CEO @ Deversifi (ETC)

- Lev Livnev:形式化验证研究员@ dapp.org 和创始合伙人@ Symbolic Capital Partners (ETC)

- Martin Lundfall:形式化验证研究员@ Ethereum Foundation & DappHub (ETC)

- Nick Munoz-McDonald:智能合约审计员和研究员@ G0 Group (ETC)

- Paul Salisbury:创始人@区块链实验室(ETC)

- Zahreddine Touag:创始人@ Woorton (ETC)

IV.治理概述

1.   治理模式

Enzyme 治理模型是以用户为中心的模型。 它确保用户无需许可即可安全访问资产管理协议,并免受网络中恶意行为的侵害。 同时,用户可以选择在协议之上的持续创新和改进中受益,受到Enzyme委员会的检查和分析的保护,及信托义务的约束。Enzyme委员会(下一节详述)负责做出维护网络用户权益的决定。

对于Enzyme协议,由用户完全控制,并且是运行软件的唯一决策者,从另一方面来说,Enyme 委员会和代币持有者都不能影响基金经理使用的智能合约代码.基金经理必须自主升级到新版本的代码才可以,如果基金的投资者对所使用的代码版本不满意,他们可以立即赎回他们的股票。基金经理永远不会强迫用户使用他们不喜欢的新版本代码。用户对可能包含安全漏洞的代码进行升级需要承担全部责任。因此,用户对特定版本的 Enzyme 协议应和Enzyme委员会表明的与用户的情绪和需求保持一致。尽管Enzyme技术委员会 (ETC) 拥有并控制指向最新合约的 ENS 子域,但用户才是真正决定其业务基于哪个版本的人,这给社区一个强烈的信号。智能合约不可阻挡的特性进一步实现了这一点(一旦部署,Enzyme 合约就不能被部署者收回)。

但是, Enzyme 协议强烈建议用户使用最新版本,因为可以发现安全漏洞并在协议升级中进行修复。 还鼓励用户对他们预计使用的合约进行分析、审计和审查。 最终的选择和责任完全取决于用户。

2.   委员会:

信托和利益冲突

Enzyme委员会受信托、指导原则和Enzyme委员会章程的约束。 这意味着Enzyme委员会成员有义务以Enzyme协议的最佳利益进行。 任何违反其受托义务的成员将面临席位被撤销的风险。 如果Enzyme委员会成员在特定问题上存在利益冲突,他们应立即通知其他成员,并就该问题放弃投票。

领导和组织:

Enzyme委员会设有主席和副主席,每两年轮换一次。 他们的职责包括协调会议和议程。 Enzyme委员会还包含几个在特定主题上发挥领导作用的子项目,例如:审计、特点、生态系统项目、网络参数、代币经济学、社区电话会议等。

激励架构:

拥有适合 ETC 技能的人员很少。 因此,成员会收到协议年通胀作为一部分激励。 该部分目前的上限为 20%,并按 2 年的时间周期授予。 最初应该只覆盖 ETC 的成本,但通过提供年通胀百分比(即总市值的比例)的奖励,我们还引入了一种激励措施,通过网络加持增加 Enzyme 的市值。

3.   技术委员会 (ETC)

概述

Enzyme技术委员会的成立是为了在协议的决策过程中提供技术手段和效率。这种设计试图找到最佳数量的决策者,以确保快速做出决策。 通过身份和受托约束成员降低恶意行为的风险。 ETC 主要目的为通过提供技术手段和决策速度来代表最重要的利益相关者(我们的用户)。

组成

ETC 由不同的人和实体组成。 最初的成员由 Melonport AG 团队在 2019 年初推出 的Melon 协议(后来更名为 Enzyme)时任命。 随后,理事会增加了更多成员,并且必须由现有 MC 成员的三分之二投票批准。围绕此投票的决策过程将对社区公开透明,Enzyme委员会负责为其决策提供背调。 申请人应符合以下条件:

职责

ETC 预计将参加每两个月一次的会议并参与所有投票。 他们主要就以下主题做出决策:

- 协议升级:

Ennzyme 协议智能合约的未来改进,包括错误修复、安全补丁、功能添加和第三方集成。 升级包括向Enzyme资产领域添加新资产和授权新交易所。 当需要进行协议升级(功能添加、错误修复或安全漏洞)时,ETC 可以自行实施升级,也可以委托外部开发人员或实体进行实施。实施完成后,新代码必须由独立方审核。如果审计通过并且大多数 ETC 同意,则可以部署新合约。

- ENS 子域:

ETC 拥有 Enzyme ENS 子域所有者地址的密钥。 ETC 的唯一能力在于它们能够将 Enzyme 智能合约的 ENS 子域指针更改为新部署的合约。 请注意,更新 ENS 子域指针只需要 ETC(而不是整个 EC!)的批准。

- 资源分配:

通货膨胀(在 Tokenomics 部分进行了描述)是 Enzyme 社区唯一的财务资源,也是未来增长和网络效应的关键来源。MLN 的年通胀旨在用于资助 Enzyme 协议的开发以及在 Enzyme 生态系统内构建的项目。优先考虑和执行这些资金的分配是最重要的。

- 网络参数:

每amgu的资产管理的燃料费用需要根据网络使用情况和市场情况进行设置和调整。 有关此问题的更多背景信息,请参阅 Tokenomics。

4.   Enzyme用户代表 (EUR):

概述

Enzyme用户代表旨在代表用户收集用户反馈、确定其优先级并将其提交给Enzyme委员会。 因此,ETC 和 EUR 的目的是保持密切的关系并保持正向的反馈循环。 ETC 需要解决 EUR 提出的问题,两个小组委员会应共同努力,确定和优先考虑 Enzyme 网络用户的紧迫需求。 从用户的角度来看,他们可以选举代表在Enzyme委员会中代表他们的利益。 符合条件的 EUR 管理的产品的资产最低门槛相当于以 USDC 计算的 AUM 的 1%。

组成

EURs通过检查 ETC 做出的决定来帮助权力制衡,并发现任何可疑活动时通知用户。 EURs可以投票排除违反 MC 章程的 Melon 委员会成员(通过三分之二多数票)。 目前,EURs使用与创建的 Melon 基金仅限邀请的 Telegram 组进行协调。 目前,这是 Enzyme 用来提名和投票支持 EUR 的论坛。

职责

预计EUR也将每两个月开一次会; 一次与 ETC 一起,一次独立于 ETC。 他们的职责包括:

- 社区电话会议:组织和策划社区电话会议。

- 用户反馈:整理和收集生态系统中用户的反馈,以整合到委员会的战略和路线图中。

- 增长:帮助扩大用户群并保护他们的最大利益。

- 监控:监督并检查 ETC 是否真实代表了用户的最大利益并对其进行了优先排序。

V. 联系方式

Official website: https://enzyme.finance/

Twitter: https://twitter.com/enzymefinance

Github: https://github.com/enzymefinance

Youtube: https://www.youtube.com/channel/UCJPutAAPqqY13yaY8K94vcA

Enzyme: Decentralized Asset Management Protocol

DAOrayaki DAO Research Grant:

Fund Address: 0xCd7da526f5C943126fa9E6f63b7774fA89E88d71

Voting Result:DAO Committee /7  yes

Grant Amount:200 USDC

Category: Enzyme, assets management, user-centric models, DeFi, Enzyme Council (EC), Enzyme Technical Council (ETC), Enzyme User Representatives (EUR), Funding layer, Infrastructure layer)

Contributor:Jones, Julie, DAOctor @Daorayaki

Token name: The Enzyme Protocol token is issued under the name (MLN) which refers to Melon the company behind this project and the initial protocol name back then in 2019.

Token type: MLN token operates on the Ethereum platform under the ERC-20 protocol

Token price: MLN token currently worth $40.76USD at the following inspection date (08th, June, 2021).

The current Market Capitalization (volume) of the Enzyme protocol (Melon) is $200.93MUSD.

Distribution information:

Between 2017 and 2018, 1,250,000 MLN coins were created and distributed by the company, based in Switzerland. Melonport (Enzyme currently) raised $2.9 million through an initial coin offering (ICO) in 2017.

Brief Overview about Enzyme:

Enzyme Protocol is an Ethereum-based protocol for decentralized on-chain asset management. It is a protocol for people or entities to manage their wealth & the wealth of others within a customizable and safe environment. Enzyme empowers anyone to set up, manage and invest in customized on-chain investment vehicles.

I. Background:

Enzyme protocol or in other words “Enzyme Finance”, formerly Melon, was originally developed by a Swiss company called Melonport AG a private company founded in 2016 by Mona El Isa, a former Goldman Sachs vice president, and mathematician Rito Trinkler. Upon February 2019 main net launch of the protocol wound down operations and the protocol’s governance was passed to the Enzyme Council. The Council is composed of the Enzyme Technical Council (ETC) and representatives from Enzyme User Representatives (EUR), both of which are described in subsequent sections.

II. How does Enzyme Finance (Protocol) work?

Enzyme Finance is a collection of smart contracts whose computation is performed by the Ethereum blockchain. Because of this design, fees for transactions are paid in ether. These fees cover the cost of using Ethereum’s computing power and Enzyme’s software.

The protocol itself consist of two layers, a fund layer and an infrastructure layer, and it comes with its own Javascript library that enables web browser support.

1.   The Fund Layer:

Fund Layer is where users launch and control the funds that other users can invest in, where each fund contains two parts:

  • The Hub – The hub is considered the core part of the fund layer, as it provides all the necessary tools to set up a fund and tracks the components that make up the funds.
  • The spokes – The spokes use smart contracts to define the funds, which are created by each fund manager, and contribute specific services to the fund. Examples include the Vault, a component used for storing tokens on behalf of the funds, and Shares, a component that tracks fund ownership.

2.   The Infrastructure Layer:

The infrastructure layer is controlled by the Melon Council, Enzyme’s DAO. Some examples of infrastructure contracts include:

  • The ‘adapter’ contract – which links certain assets to price feeds for trading.
  • The ‘engine’ contract – which buys MLN for ETH to help pay certain computations.
  • The ‘price source’ contract – which provides general information needed for actions within the funds.

III. Team members:

Who sits on the Enzyme Council today?

-       Janos Berghorn: Investor @ KR1 (ETC)

-       Giel Detienne: User representative (EUR)

-       Mona El Isa: Founder & CEO @ Avantgarde Finance (ETC)

-       Felix Hartmann: Founder @ Hartmann Capital & User (EUR)

-       Fabian Gompf: VP @ Parity Technnologies (ETC)

-       Will Harborne: Founder & CEO @ Deversifi (ETC)

-       Lev Livnev: Formal verification researcher @ dapp.org and a founding partner @ Symbolic Capital Partners (ETC)

-       Martin Lundfall: Formal Verification Researcher @ Ethereum Foundation & DappHub (ETC)

-       Nick Munoz-McDonald: Smart Contract Auditor & Researcher @ G0 Group (ETC)

-       Paul Salisbury: Founder @ Blockchain Labs (ETC)

-       Zahreddine Touag: Founder @ Woorton (ETC)

IV.Governance Overview:

1.   Governance model:

The Enzyme governance model is a user-centric model. It ensures users have permission-less access to a secure asset management protocol, and are protected from malevolent actors in the network. At the same time, users have the option to benefit from continuous innovation and improvements on top of the protocol, safeguarded by the thorough checks and analysis of the Enzyme Council, bound by fiduciary duties. The enzyme Council, detailed in the next section, is responsible for taking decisions preserving the interest of the network’s users.

For the enzyme protocol the user always remains in full control, and is the sole decision maker with regard to the software they are running, from another hand, Neither the Enyme Council nor the token holders can impact the smart contract code used by a fund manager. The fund manager must take a voluntary action in order to upgrade to new versions of the code, and the fund’s investors are free to instantly redeem their shares if they are not happy with the version of the code being used. The fund manager is never forced to use a new version of the code they may or may not feel comfortable with. Users take full responsibility to upgrade from code that may contain security vulnerabilities. As a result, the convergence of users towards a specific version of the Enzyme protocol shall give a strong indication to the Enzyme Council of their alignment with the users’ sentiments and needs. Although the Enzyme Technical Council (ETC) owns and controls the ENS subdomains pointing to the latest contracts, the users are the ones truly deciding which version to base their business upon, which constitutes a strong signal to the community. This is further enabled by the unstoppable character of smart contracts (once deployed, the Enzyme contracts can not be taken back by the deployer).

However, users will be highly encouraged to always use the latest versions of the Enzyme protocol, as security vulnerabilities can be discovered and will be fixed in protocol upgrades. Users are also encouraged to conduct their own analysis, audit and review of the contracts they intend to use. The ultimate choice and responsibility relies solely on the user.

2.   The Enzyme Council:

Fiduciary Duties and Conflicts of Interest:

The Enzyme Council is bound by fiduciary duties, guiding principles and Enzyme Council Statutes. This means the Enzyme Council members will be obligated to act in the best interest of the Enzyme protocol. Any member violating their fiduciary duties will expose themselves to the revocation of their seat. If an Enzyme Council member has a conflict of interest on a specific question, they should inform the rest of the members immediately and abstain from voting on the matter in question.

Leadership and Organization:

The Enzyme Council has a Chair and Vice Chair which rotate bi-annually. Their responsibilities include coordinating the meetings and agenda. The Enzyme Council also contains several sub-groups which take leadership roles on specific topics, such as: audits, features, ecosystem projects, network parameters, token economics, community calls, etc.

Incentive Structure:

The people with the right skills for the ETC are scarce. Members are therefore incentivised with a portion of the protocol’s yearly inflation. That portion is currently capped at 20%, and vests on a schedule of 2 years. Initially this should just cover the ETC’s costs, but by providing that reward as a percentage of the annual inflation (i.e. a proportion of total market cap), we also introduce an incentive to grow Enzyme’s market cap by adding value to the network.

3.   The Enzyme Technical Council (ETC):

Overview:

The Enzyme Technical Council was formed to provide technical expertise and efficiency in the protocol's decision-making processes. This design tries to find an optimum number of decision makers which can ensure quick decision making. Binding members by their identity and fiduciary responsibilities reduces the risk of any malevolent behaviours. The ETC is primarily designed to represent our most important stakeholders (our users) by providing technical expertise and speed in decision making.

Composition:

The ETC is made up of a diverse set of people and entities. The initial members were appointed by the Melonport AG team prior to the launch of the Melon Protocol in early 2019 (later renamed Enzyme). Subsequently, more additions to the council have been made and have to be approved by two-thirds vote of existing MC members. The decision-making process around this vote will be open and transparent to the community, and the Enzyme Council will be responsible for providing context for their decisions. Applicants should meet the following criteria:

Responsibilities:

The ETC is expected to attend bi-monthly meetings and participate in all votes. They are primarily responsible for decision making on the following topics:

-       Protocol Upgrades: Future improvements to the Ennzyme protocol smart contracts including bug fixes, security patches, feature additions, and third-party integrations. Upgrades also include adding new assets to the Enzyme Asset Universe and authorising new exchanges. When a protocol upgrade is needed (feature addition, bug fixes or security vulnerability), the ETC can either implement the upgrade itself or mandate an external developer or entity to conduct the implementation. Once the implementation is finished, the new code must be audited by an independent party. If the audit passes and the majority of the ETC agrees, the new contracts can be deployed.

-       ENS Subdomains: The ETC owns the key of the owner address of the Enzyme ENS subdomains. The sole power of the ETC lies in their ability to change the ENS subdomain pointers of the Enzyme smart contracts to the newly deployed contracts. Note here that only the ETC (and not the whole EC!) approval is needed to update the ENS subdomain pointers.

-       Resource Allocation: Inflation (described in the Tokenomics section) is the only financial resource available to the Enzyme community and a critical source for future growth and network effects. The yearly inflation of MLN is intended to be used to fund developments of the Enzyme protocol, as well as projects building within the Enzyme ecosystem. Prioritising and executing the allocation of these funds is of the utmost importance.

-       Network Parameters: The asset management gas price per amgu needs to be set and adjusted according to network usage and market conditions. For more context on this issue, please refer to the Tokenomics.

4.   The Enzyme User Representatives (EUR’s):

Overview:

The Enzyme User Representatives are designed to collect, prioritise and deliver user feedback to the Enzyme Council on behalf of users. Thus, the purpose of the ETC and EURs is to maintain a close relationship and preserve a healthy feedback loop. The ETC is required to address concerns raised by the EURs, and both sub-committees should work together at defining and prioritising the pressing needs of the users of the Enzyme network. From a users point of view, they are able to elect delegates to represent their interest on the Enzyme Council. Qualifying EURs managing a product with a minimum threshold of assets equivalent to 1% of AUM in USDC terms.

Composition:

The EURs help balance power by checking the decisions made by the ETC and can inform users about any suspicious activity. It is possible for EURs to vote on the exclusion of a Melon Council member violating the MC statutes (through a two-third majority vote). Currently, The EURs are currently coordinated using an invite-only Telegram group tied to the creation of a Melon fund. This is at the moment the forum that Enzyme uses to nominate and vote on EUR’s.

Reponsibilities:

The EUR's are expected to meet bi-monthly too; once with the ETC and once independently of the ETC. Their responsibilities include the following:

-       Community calls: Organising and curating community calls.

-        User feedback: Collating and gathering feedback from users in the ecosystem to integrate into the Council strategy & roadmap.

-       Growth: Helping grow the user base and protect their best interest.

-       Monitoring: Oversee and check that user's best interests are being correctly represented and prioritised by the ETC.

V. Contact Information:

Official website: https://enzyme.finance/

Twitter: https://twitter.com/enzymefinance

Github: https://github.com/enzymefinance

Youtube: https://www.youtube.com/channel/UCJPutAAPqqY13yaY8K94vcA


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