Kraken will offer support for trading Melon tokens (MLN) shortly after Melon goes live on March 15 at 11am UTC. Built on the Ethereum network, Melon is a protocol for managing digital assets that is decentralized, modular, transparently auditable, and low cost. MLN tokens cover the platform usage fee and are used to reward developers who build Melon modules. Melonport, the company behind Melon, had a very successful Initial Coin Offering (ICO), hitting its target of 227,000 ETH, currently worth about $6.5 million, within 10 minutes.
Which MLN pairs will be available for trading?
- MLN/XBT (melon-bitcoin)
- MLN/ETH (melon-ether)
- Margin trading: We are working to possibly offer MLN margin trading later – stay tuned!
How do I deposit MLN to my Kraken account?
Go to Funding > Deposit > MLN and click “Generate New Address.” Then send MLN to this deposit address with any Ethereum wallet or client that supports tokens, like Parity or Mist.
Will MLN be available on the new trade platform?
Yes! To trade MLN from Kraken’s new trade platform, go to https://trade.kraken.com and click “Connect” to log in to your Kraken account. In the upper left of the screen below the Kraken logo, hover over “BTCEUR” to select the MLNBTC or MLNETH currency pairs. See our previous blog post for more information on getting started with the new trade platform: http://blog.kraken.com/post/157561097377/how-to-get-started-trading-on-krakens-new-trading
More about MLN tokens & the Melon protocol
A maximum of 1.25 million MLN tokens will be created before the deployment of the final version of Melon (expected to take about two years). A total of 599,400 MLN will be tradable immediately (499,400 from the ICO and 100,000 assigned for the Melonport company to use). Another 650,600 will become tradable later (500,600 reserved for a future crowdsale and 150,000 assigned to founders, advisors, and corporate partners that will be locked and non-tradable for two years or until Melon is fully deployed). After the final version of Melon is deployed, more MLN tokes will be created to incentivize developers for their efforts.
The Melon protocol lets you:
- Define the parameters of portfolio structures using smart contracts
- Build an auditable, visible track record with low setup costs and minimal variable costs
- Invest in other portfolios, or allow others to invest in yours
The team behind MLN includes Reto Trinkler (Co-Founder & CTO), Mona El Isa (Co-Founder & CEO), Dr. Gavin Wood (Advisor), Dr. Andreas Glarner (Advisor) and Jehan Chu (Advisor).