project: News of Enzyme (MLN) - July 2024 Price Update - 7.69% Breakout Crypto News and Analysis

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Spot the Main Event:

Introducing Permissionless and Modular Liquid Restaking, A New Primitive Powered by Enzyme, As-a-Service for LRT Projects. Enzyme is thrilled to partner with Nektar Network, a multilayered restaking network built on top of Ethereum, to power the launch of three new liquid restaking vaults on Enzyme. And to kick things off with a bang, Enzyme users can now deposit on three new Liquid Restaking Token (LRT) vaults, each with a different underlying denomination asset including USDC, WBTC and ETH. Liquid restaking specifically involves taking liquid tokens and using them to secure other services (AVSs technically) and generate additional yields on top of the classic network validation and staking rewards. This enhances both liquidity and potential earnings within the staking ecosystem. Enzyme users can now earn yield on USDC, WBTC and ETH, as well as other exciting staking and program rewards brought to you by the Nektar, Angle, DLC.Link and Re7 teams.

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Explore the Core.

Enzyme is a decentralized blockchain-based asset management infrastructure that operates on the Ethereum network. Enzyme offers innovative features and strategies to help network users and participants build, create, and manage their portfolios. The main goal of the project is to decentralize the traditional model of asset management and allow users to invest in any supported project or investment portfolio without any barriers to entry.

Spot the Main Event:

The breakout in Enzyme's price can be attributed to two major factors. 1) The native $MLN token is being listed on Binance. 2) Enzyme has introduced a new use case to the protocol: permissionless and modular liquid restaking as-a-service, accompanied with the launch of three new liquid restaking vaults on the platform. 1) Listing on a prominent exchange like Binance equates to increased visibility, trading volume, and investor interest. This development has generated positive market sentiment and attracted new investors, contributing to the price surge of the MLN token 2)In recent months, liquid restaking has taken the DeFi world by storm. Being quick to recognise this trend, Enzyme has identified a clear value proposition that it can add to the marketplace: enabling early stage restaking projects to attract users, liquidity and boost TVL pre-launch in a permissionless and modular manner.

Student

Explore the Core.

They’re a protocol for smart, tokenized wallets designed to accelerate project outcomes and facilitate on-chain asset management.

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