Following the public release of Melon tokens (MLN) at 11:00 AM UTC on March 15, the Kraken cryptocurrency exchange will offer MLN/XBT (melon-bitcoin) and MLN/ETH (melon-ether) for trading.
Melon is a blockchain-based protocol for a new type of hedge funds where the prospectus and investment parameters are enforced by smart contracts on Ethereum. Mona El Isa, ex Goldman trader, is in charge of the project.
Melonport, the company that has devised the new tokens, conducted an Initial Coin Offering (ICO) that fulfilled the objective of 227,000ETH (worth $6.5 million) in 10 minutes.
The project foresees the release of 1.25 million MLN tokens at most before the final version of Melon is ready (which is expected in roughly two years’ time).
600,000 MLN will be offered for trading right away (500,000 from the ICO and 100,000 allocated for use to Melonport). The remaining 650,000 will be reserved for a later period, potentially including a crowdsale and contributions to founders and corporate partners.