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Cryptocurrency Copy Trading Protocol Melon Now Supported by Kraken

Photo: FM

Kraken, one of the largest cryptocurrency trading venues in the world, has announced that it will offer support for trading Melon tokens (MLN). The new pairs are MLN/XBT (melon/bitcoin) and MLN/ETH (melon-ethereum) with the exchange’s team said to be working on also possibly offering MLN margin trading.

The Melon protocol is a blockchain protocol for digital asset management built on the Ethereum platform. It enables participants to set up, manage and invest in crypto-asset management strategies in an open, competitive and decentralised manner. They can define the parameters of portfolio structures using smart contracts, build an auditable, visible track record, and invest in other participants’ portfolios or attract followers to their own portfolio.

MLN tokens cover the platform usage fee and are used to reward developers who build Melon modules. Melonport, the company behind Melon, recently completed an Initial Coin Offering (ICO), reaching its target of 227,000 ETH (currently worth over $9 million) within just 10 minutes.

The team behind MLN includes Reto Trinkler (co-founder and CTO), Mona El Isa (co-founder and CEO), Dr. Gavin Wood (Advisor), Dr. Andreas Glarner (Advisor) and Jehan Chu (Advisor).

Kraken recently acquired the charting and trading platform Cryptowatch  used by thousands to trade up to 22 digital assets. Kraken has already leveraged Cryptowatch to release an upgraded trading interface based on the platform.

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