- Aged
- No middlemen
Melon is a technology designed for operating and regulating funds through the watermelon protocol. More on the matter, Melonport (the company) does not own the watermelon protocol. It is designed to be a public good like, say, the internet.
Watermelon protocol
Watermelon is a decentralized, open-source protocol designed for crypto asset management. Its back- and front-end are executed on distributed platforms ensuring transparency and security to the users. More on the matter, the back-end is based on a set of Ethereum smart contracts that function as leverages and enforce fair play in a trustless environment.
Given that Melonport does not own watermelon, they do not charge any commissions or fees from anyone using it.
The middlemen bring inefficiency, high running costs (and insane expenses on hidden costs), as well as increased operational risks on any sage of asset management.
Watermelon replaces the middlemen removing the necessity to deal with them whatsoever. Moreover, the protocol is both automated and public so Melonport themselves cannot be considered a middleman as well.
In simpler words, a user is gaining access to a pool of smart contracts that run the very same operations 3-d parties would but autonomously, fairly, and at a fraction of the cost. Blockchain’s encryption mechanisms, in turn, enhance security and minimize the requirements for trust even further.
Ever since delivering version 1.0 of the watermelon protocol, Melonport has decided to hand all control and governance to a council that consists of two parts – the Technical Council (MTC), and Exposed Business representatives (MEB).