Kraken Adds Melon Trading Support

Blockchain, FinTech, Investing, News | March 22, 2017 By:

San Francisco cryptocurrency exchange Kraken is now offering Melon (MLN) as a trading option on its platform.

The company currently supports MLN/XBT (melon-bitcoin) and MLN/ETH (melon-ether) pairs. Kraken has also announced the possibility of including a margin trading option for Melon cryptotokens in the near future.

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

MelonPort is yet another of the blockchain-based smart contract platforms emerging in the last year.  The goal is to get developers to build Melon modules to help its acceptance and growth. The platform has set a maximum of 1.25 million MLN tokens, with 599,400 currently tradeable. The rest of the tokens are anticipated to be available after a moratorium expires on the 150,000 tokens claimed by the founders.

To deposit MLN in a Kraken account, users must have an ethereum wallet or a client like Parity or Mist that supports tokens.