The open-source MelonClassic will enable distributed digital asset management on a POS Bitcoin blockchain. Anyone can set up, manage, and invest in digital assets. Performance is easily demonstrated and audited. You can invest in other portfolios or have others invest in yours. The core software will support trading multiple tokens through a single interface, while add-on ‘modules’ will open features like price feeds, risk calculation, and KYC compliance.
In traditional finance, hedge funds manage assets smartly on behalf of others. However, the fledgling crypto-finance industry lacks the technological infrastructure to keep performances auditable, secure, and as frictionless as possible. To solve this, they have created the MelonClassic protocol.
Migrating hedge funds to a blockchain also brings many benefits to the hedge fund industry itself. These include the following and broadly amount to lowering the barrier of entry for hedge fund management:
More transparency of fund performance, which would help in identifying poor performers
Reducing overhead costs (for auditing, booking, reconciliation, settlement)
Smaller up-front capital costs supports smaller funds, which themselves predict higher returns
A leaner and more diverse hedge fund industry could allow smaller investors to participate
This could help a fund-management industry emerge for existing crypto-assets and support existing traders who are migrating traditional assets to blockchain tokens. The protocol will be useful for managing one’s own funds too.
A live working version on Ethereum is expected in late 2017 or early 2018. The MelonClassic protocol will consist of a core software, which provides the basic tools for portfolio managers, and a set of modules, which provide advanced features such as price feed, volatility calculations, etc. Token inflation will compensate developers for creating these modules, which fall into five categories of difficulty. Each category will be eligible for a different share of inflation, although the exact inflation rate hasn’t been determined.
What is the token being sold?
MelonClassic tokens (MLNC) will be used to pay the usage fee for the platform. Any trading will require a small amount of MelonClassic tokens, similar to per-trade tax. High-frequency trading would consume a high amount of tokens, while low-frequency trading would consume a smaller amount.
This tax will go into one or a set of smart contracts. Stakeholders, who will be identified in future governance planning, will be able to vote on how to spend them.
The tokens will initially exist on the Ethereum blockchain, and when Melon launches, will support trading all tokens on Ethereum. When a multi-chain platform, such as Cosmos and Polkadot, has been finalized, this may change. One of Melon’s ambitions is to support both public and permissioned blockchains; this may require migrating platforms.
What are the sale terms?
A maximum of 1.00 billion MLNC will be created to support this crowdsale to support additional phases of work.
ICO details wil be updated shortly
Wallet Download
https://mega.nz/#!Ol4EADpS!qmVU4eUk0C_5rCGEgxfCem6RzIC7R4YhSUuRf4ZVsu4
Source
https://github.com/MelonClassic/MelonClassicV1Exchange
https://www.cryptopia.co.nz/Exchange/?market=MLNC_BTC
