Enzyme (formerly Melon), an Ethereum-based protocol for decentralized on-chain asset management, today announced live integration with Oracle’s Chainlink solution and uses its price feed oracle to guide the selection of assets for enzymes – Expand users.
The integration significantly opens up the possibilities for asset management strategies for enzymes and enables the inclusion of virtually all on-chain assets with a Chainlink price feed.
Until now, the inclusion of additional assets in the enzyme protocol has been dependent on a) a reliable price feed in the chain and b) costs. Liquidity Protocol Kyber has served Enzyme well as a price feed so far, but has never been designed as a dedicated price feed oracle and so has not been able to help scale Enzymes as quickly and safely as intended.
“Upgrading to Enzyme and adding Chainlink means Enzyme users will have access to a large collection of existing price pairs and the ability to sponsor other pairs of assets that they want to see.”
– Mona El Isa, co-founder of Enzyme
One of the biggest requests the Enzyme team received over the past year was to add more assets. With Chainlink it now has a solution.