Melonport Blockchain Software for Asset Management - Ethereum Platform



  • About Melonport

    Melonport is the private company building the open-source Melon Protocol. 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 digital asset management strategies in an open, competitive and decentralised manner. Read the Melon Protocol Green Paper for a full detailed description of how it will empower its users and evolve digital asset management.

    -$15.0B Total market capitalisation of the digital asset market today

    -700 Coins, Tokens and Cryptoassets currently in existence, spread across a multitude of unconnected platforms

    -1st One of the best performing asset classes over the last few years

    About Melon

    contribution

    Our usage token is called Melon token [MLN] and is a core component of the Melon project. It is designed to enjoy a “usage right” to the Melon protocol. To use the Melon protocol one has to use MLN token. This “usage fee” will most likely be imposed on trading. All MLN token that are paid by Users to access Melon will go into a smart contract called a “Multichain fund”. The purpose of this fund is to secure trustless connectivity to other blockchains as well as redeploying the Melon protocol to other blockchains with different properties. Making it in effect a multichain capable software for asset management. A maximum of 1,250,000 MLN will be created before the final version of the Melon protocol is deployed to the live network. Following the live deployment, a fixed amount of new token will be created periodically and be distributed towards the most widely used Modules of the Melon protocol. This incentivises maintenance and development of the Melon protocol even after its final version is deployed to the live network.


    Melon Protocol

    The Melon protocol allows digital asset managers to use blockchain technology to automate a lot of processes using code embedded in smart contracts.

    Melon Portal 

     

    The Melon portal is an interface or portal to the Melon protocol. Its main objective is to make the interactions with the Melon protocol as easy as possible. Contact us to become an early tester of the portal. 

    Email: admin@melonport.com

    Open-source and Transparent


    Asset management track-records are transparent and auditable by everyone everywhere at any time. Easily grow and share your reputation in the asset management space.

    Modular and Inclusive

    Melon is built from the start to be ever-expandable and flexible. A modular framework for easily adding new functionality and features in a permisionless way that rewards developers.

    Lowers Costs and Time

    By using blockchain technology, fixed and variable asset management costs as well as time requirements are drastically reduced. This enables a never-seen-before competitive environment for asset management strategies.

    Decentralised and Reliable

    By having decentralised storage and execution one can mitigate some of today's real world inefficiencies such as custody, counter-party and settlement. Melon creates a true alternative to traditional asset management.

    How to Participate in our Tokensale

    1.Connect to the Ethereum Blockchain

       1. UsingMetaMask

        a) Install MetaMask and 

        b) Create an Ethereum Address

        2. Using Parity/Mist

       a) Install and run ParityMist and 

       b) Create an Ethereum Address

    2. Fund your Ethereum Address with some Ether

        1. Using other crypto currencies

       Use for example: a) Coinbase or 

      b) ShapeShift to Convert your crypto currencies into Ether.

        2. Using fiat currencies

      a) For non-technical people it is recommeneded to use BitcoinSuisse which can allocate your fiat currencies to Melon on your behalf. 

    b) Or use a centralized exchange to convert your fiat currencies into Ether

    3. Contribute to the future of finance

    1. Visit our decentralised application

    a) Use MetaMask together with Chrome or 

     b) Use Mist to Browse to our DApp

    2. Send Ether and become a part of Melon

    Use this decentralised application to send Ether to Melon

    Team:

    Careers:


    Purpose:

    Links:

    https://melonport.com/

    https://reddit.com/r/melonproj...

    https://www.github.com/melonpr...

    https://twitter.com/melonport

    https://www.linkedin.com/compa...

    http://chat.melonport.com/



  • Melon Contribution Tutorial

    [THE CONTRIBUTION CONTRACT HAS HIT THE ETHER LIMIT, NO MORE TRANSACTIONS WILL BE ACCEPTED]

    MLN TOKEN Contribution starts February 15th at UNIX 1487156400

    => 15/02/2017 @ 11:00am (UTC) / 12:00pm (CET)! Do not send any Ether before the start of the contribution period!

    Important Notice: If you created a signature before February 14th 11am CET, please generate a new one to participate in the contribution period. If you use an old signature with your transaction the transaction will get rejected by the contribution smart contract and any Ether sent will be returned.

    Hello future Melon Protocol User! This post will guide you through the process of contributing Ether during the MLN TOKEN contribution period.

    Please read this thoroughly before making your contribution;

    This guide is for educational purposes only.

    Before starting, go to contribution.melonport.com:

    • Make sure you understand the Melon project before you contribute. Read the Melon Protocol Green Paper , the Melon Specifications document and the Melon Contribution terms before going any further (see contribution web page)
    • Confirm that you are not a US citizen (or acting on behalf of a US citizen)
    • If your contribution is successful, you will be receiving MLN tokens which represent a limited usage right to the Melon protocol.
    • Make sure that you understand you are not receiving equity in Melonport AG in exchange for your contribution.

    By ticking the boxes and providing your ethereum address, you are confirming that you have read, acknowledged and agreed upon all of the terms and conditions.

    Ether will be the only cryptocurrency that the contribution smart-contract will accept.

    DO NOT send Bitcoin or any other cryptocurrency to the contribution Smart Contract address.

    DO NOT send Ether (or any other cryptocurrency) to any addresses that may show up in the videos or images below as they may be addresses taken from a test contract.

    DO NOT send Ether to our contribution Smart Contract address directly from an exchange or a hosted wallet (Coinbase, for example). You will not be able to access your MLN tokens.

    THE ADDRESS FOR THE CONTRIBUTION SMART CONTRACT SYSTEM IS:

    0x3BF541f87056D134E0109BE1Be92978b26Cb09e0

    You can view the verified Melon Smart Contract System on EtherScan

    Ethereum Account 0x3bf541f87056d134e0109be1be92978b26cb09e0 Info
    Contract Source Code Copy Find Similiar Contracts pragma solidity ^0.4.8; /// @title Assertive contract /// @author…etherscan.io

    *** DO NOT SEND ETHER TO ANY OTHER ADDRESS ***

    Part 1: Contributing via the following wallets (Parity, Mist, MetaMask or MyEtherWallet)

    Here is a list of wallet providers we have chosen to integrate:

    WARNING! PLEASE ONLY USE THE SUGGESTED WALLETS ABOVE (Parity, Mist, MetaMask or MyEtherWallet):

    Parity wallet (use the Parity Browser to take part in the contribution period):

    https://ethcore.io/parity.html

    Transaction queuing on Parity:

    Feel free to test your generated signature on the ropsten testnet deployed at address:

    0xAc24d895F6b80c9ea33A2587920E97E105c345aa
    (Do NOT send real Ether to this address!!!)

    Mist (use the Mist browser to take part in the contribution period):

    https://github.com/ethereum/mi...

    Contribution using Mist:

    Contribution using the following wallets is also possible:

    MetaMask (use the MetaMask Chrome extension to take part in the contribution period):

    MetaMask
    MetaMask is a bridge that allows you to visit the distributed web of tomorrow in your browser today. It allows you to…metamask.io

    Not used MetaMask before? Try this explainer from CryptoCompare — https://www.cryptocompare.com/wallets/guides/how-to-use-metamask/

    MetaMask should automatically specify the correct amount of gas

    MyEtherWallet

    MyEtherWallet: Open Source JavaScript Client-Side Ether Wallet
    Ether Wallet: Open Source JavaScript Client-Side Ether Walletwww.myetherwallet.com

    For my EtherWallet, once you have signed on the contribution page, you will need to go back to MEW and attach a data string to your transaction or your Ether will not be accepted (see below — in MEW on the “Send Ether & Tokens” page, click “+Advanced: Add Data” under the gas limit field to add data). This data string is generated once you have signed on the contribution web page (see below).

    Remember to specify a gas limit of 100000!



    Adding data to the transaction on MEW

    Be sure to check you are using the correct address in all instances!

    Part 4: Check your contribution has gone through!

    You can view your transaction to the Melon Contribution Smart Contract System on Etherscan: https://etherscan.io/address/0x3bf541f87056d134e0109be1be92978b26cb09e0

    Part 5: Watching your MLN Token

    You can add the data below into your wallets (Parity does this automatically!) to “watch” your MLN tokens. The MelonToken Contract has been verified on Etherscan — https://etherscan.io/address/0xBEB9eF514a379B997e0798FDcC901Ee474B6D9A1#code

    For Mist/Ethereum Wallet, go to “Contracts” then scroll down, click “Watch Token” to add MLN.

    For MyEtherWallet, choose the “Send Ether & Tokens” tab, select the wallet file/private key you used in the contribution and unlock your wallet, then click the “Add Custom Token” button on the left and add MLN.

    For MetaMask, you can go to https://wallet.ethereum.org/ and follow the steps for the Ethereum Wallet.

    Token Contract Address: 0xBEB9eF514a379B997e0798FDcC901Ee474B6D9A1

    Melon Token Name: Melon

    Token Symbol: MLN

    Decimal Places: 18

    Part 6: Troubleshooting Q&A

    Q: This has all gone terrible wrong! What do I do?

    A: Join us on the Melonport Slack chat and we’ll endeavour to solve your problem together.

    Q: I made a transaction and my Ether was returned, what happened?

    A: The limit for the pre-sale has likely be reached! Sorry you were not able to participate this time.

    Q: What is the total Ether cap on this contribution period?

    A: 227000 ETH

    Q: How much should I set my gas limit when contributing?

    A: 100000

    Q: How soon after my contribution will MLN tokens be allocated to be and transferrable?

    A: MLN tokens will be allocated upon contribution. However, they will only become transferrable at the e

    of the four week contribution period.

    Author,

    Melon Project



  • Melon Token Launch

    Hello future Melon Protocol User!

    The Melon Contribution Period will soon be over (12pm CET, March 15th, 2017) and your Melon tokens will be unfrozen.

    This post will guide you through the process of interacting with your Melon tokens created during the Melon Contribution Period.

    Please read this thoroughly before accessing your tokens.

    This guide is for educational purposes only.

    Recap — What are Melon tokens?

    The Melon token “MLN” is a core component of the Melon protocol (that is being built by Melonport), and is designed to provide a “usage right” (usage license) to the Melon software. The Melon token follows the ERC20token standard, and is available only on the main Ethereum blockchain.

    Where can I find my Melon tokens?

    Your Melon tokens will have been distributed by the Melon Contribution Smart Contract System to the same address you used during the Melon Contribution period.

    For example:

    If you sent X Ether from the (hypothetical) account 0x005f7b35e60913cF95s3F1231Cb93B5700A116a6 to the Melon Contribution Contract, that “0x005f7…” address will have received Y Melon tokens back from the Contribution contract.

    How can I see my Melon tokens?

    Some Ethereum clients like Parity automatically identify any Melon tokens held in your account, so you will see them without any additional effort on your part.

    Others, such as Mist, Ethereum Wallet, My Ether Wallet and MetaMask for example require you to add in the appropriate data to “watch” any ERC20 tokens held in your account. This data can be found below under “Token Data”.

    The MelonToken Contract has been verified on Etherscan — https://etherscan.io/address/0xBEB9eF514a379B997e0798FDcC901Ee474B6D9A1#code

    For Mist/Ethereum Wallet, go to “Contracts” then scroll down, click “Watch Token” to add MLN, then add in the data below.

    For MyEtherWallet, choose the “Send Ether & Tokens” tab, select the wallet file/private key you used in the contribution and unlock your wallet, then click the “Add Custom Token” button on the left and add MLN using the data below.

    For MetaMask, you can go tohttps://wallet.ethereum.org/ and follow the steps for the Mist/Ethereum Wallet.

    Token Data

    Token Contract Address:

    0xBEB9eF514a379B997e0798FDcC901Ee474B6D9A1

    Melon Token Name:

    Melon

    Token Symbol:

    MLN

    Decimal Places:

    18

    FAQ

    Q: I can’t see any Melon tokens in my account?

    A: Check your client is fully synced. If there are still no tokens, check you have entered the correct token data into your Ethereum client. If there are still no tokens, check you are using the address you used during the Contribution Period. If there are still no tokens, check your transaction with the Melon Contribution Smart Contract System was accepted. If there are still no tokens, try a different client than the one you are using and check again. If then you still have issues, join us on the Melonport Slack.

    Q: Where can I trade my Melon tokens?

    A: Any exchanges or platforms who wish to engage in Melon token trading will make their own announcements.

    Q: Why can’t I send my Melon tokens to another account?

    A: Melon tokens can be sent to other accounts starting 12pm CET (11am UTC) on the 15th of March, 2017. Until that point, they are frozen in the account that was used to generate them by sending Ether to the Contribution Smart Contract System.



  • Melonport The Melon [MLN] Protoco



  • Melon protocol v0.1 released

    This release contains the following modules:

    • Data Feeds
    • Universe
    • Risk Management (function signatures)
    • Exchanges
    • Fees (Management and Performance)
    • Participation (function signatures)

    This release contains the following infrastructure additions:

    • Governance (v basic version which tracks all created portfolios)
    • Version (of Melon protocols)
    • Premined Assets

    This release contains the following highlights:

    • Share price calculation via simpler math formula (makes accounting independent of running price feed)!
    • Creation and Annihilation of shares independent of a running price feed!
    • Creation and Annihilation of shares independent of current share price calculation
    • Annihilation of shares possible at any time by every portfolio share holder
    • Generated fees of Manager are payed out entirely in Melon token

    Download:https://github.com/melonprojec...



  • Melonport The Difference Between Protocol Tokens and Traditional Asset Tokens

    By way of background, one of our biggest motivations in building the Melon protocol is the creation of an infrastructure for managing digital tokens; what we firmly believe to be a fast-emerging asset class.

    In the last two years, hundreds of digital tokens have emerged. To avoid confusion we can break up “digital tokens” into two broad sub-groups;

    Protocol Tokens (PTs)= Digital tokens that are governed by a coded
    protocol. The rules of the protocol are enforced by the underlying
    blockchain technology. They are generally not linked to any
    “centralised” entity or any “traditional” real-world assets.

    Traditional Asset Tokens (TATs)= Digital tokens that represent a “traditional” asset, such as fiat currency (e.g Tramonex’s ERC20 GBP on Ethereum, Decentralised Capital’s ERC20 Euro) or precious metals (Digix’s ERC20 token representing gold for example). These assets are still dependent on traditional financial and legal systems.

    It is important to distinguish between these two sub-groups because they
    will have different properties over time. Protocol tokens benefit from a
    very interesting collection of properties which is why we believe they
    will soon be a critical element in the achievement of diverse portfolio
    construction.

    “Harry Markowitz called diversification a “free lunch.” We spend all our time in intro. econ. figuring out there is no such thing as a free lunch but Markowitz tells us that diversification is a free lunch. “ — Open Yale Courses


    Harry Markowitz — 1990 Nobel Memorial Prize winner in Economic Sciences. The secret to great portfolio management is good diversification and uncorrelated returns. It is hard to find back-tested data on protocol tokens, so we can use the chart below to illustrate that even against asset classes which are considered “safe” such as gold and U.S Government Treasuries, protocol tokens have a surprisingly low correlation.

    Seeking Alpha — https://seekingalpha.com/artic...

    Some of the reasons for protocol tokens having low correlation to other asset classes come about from their independence from today’s financial system. They are bound by the rules of their underlying protocol, which is supposed to be “un-corruptible”. As such, they are not so exposed to any hidden erosion in value (eg. Quantitative Easing) or traditional financial risks that have emerged over the years in financial markets.

    The way that Traditional Assets are being tokenized — the processes
    involved, how they then connect back to the “real world” — is
    intriguing, and clearly part of a growing trend.
    The underlying asset of a Traditional Asset Token is typically a “real
    world asset” which is governed by one (or more) centralised party but exists independently of the token’s existence on a blockchain.

    Adding traditional assets onto blockchain technology requires for them to first be held in custody by a centralised party. They can then be tracked via an issuance of tokens which represent the ownership of assets on chain with the security guarantees that blockchains provide. Trading and settlement can happen in a matter of seconds and at minimal cost (compared to t+3 + high fees, for example) due to the underlying technology. In theory, these assets are also divisible into smaller units, and as a consequence become more easily accessible.



    Our Vision?

    We are primarily building “Melon”, as an infrastructure to set up and manage funds built around protocol tokens — an asset class which we fundamentally believe will have a place in every single diversified portfolio ten years from now.

    Traditional asset tokens are a newer trend — Assets in the real world are fast becoming tokenizes through a variety of novel and innovative mechanisms. Some examples include art (Ed Fornieles), music (Ujo Music), intellectual property, equities (Overstock & Otonomos), fiat currencies (Santander), real estate (REIDAO) just to name a few examples.

    If you believe (like we do), that traditional asset tokens are also an emerging asset class, it will then be possible one day to apply the Melon protocol to that asset class too, enabling traditional asset managers to save costs and pass them on to their investors. In theory, there is no reason why you can’t run a truly diverse portfolio across the full spectrum of all these assets in one Melon portfolio with the efficiencies that come along with it!

    This idea is incredibly exciting to us as a means of democratizing asset management and allowing a deeper talent pool to rise, enabled through great technology. Hundreds of trillions of dollars worth of assets around the world now have the potential to be tracked, trusted and traded on your favourite blockchain, and perhaps even sooner than you can imagine!

    Author:

    Mona El Isa

    Former star-trader at Goldman Sachs, promoted to Vice President by the
    age of 26 and made the “top 30 under 30” list in Trader Magazine in 2008
    and Forbes Magazine in 2011 after profitably trading the 2008 and 2011
    crashes. Moved to Geneva-based macro fund Jabre Capital in 2011, before
    deciding in 2014 that the future of finance lay in blockchain
    technology. She studied Economics & Statistics at the University
    College London. Today, Mona is the CEO and


    Co-Founder of Melonport AG, the private company building the open-source Melon protocol.

    Website: https://melonport.com/

    Twitter: https://twitter.com/perham83

    LinkedIn: https://www.linkedin.com/in/mona-el-isa-3a653526



  • Melon v0.1.0 Release

    Many of you have been keen for updates over the last few weeks whilst we have been beavering away at latest version of the Melon Portal…

    Today, we are very excited to unveil the new v0.1.0 release!

    It’s still a very EARLY release, so expect bugs, bugs and more bugs. We are sharing this early version with our community so we can garner your feedback and iterate upon it. Any feedback given is hugely appreciated!

    This new release allows you to:

    1: Create a fund (in ERC20 format) and invest upon it’s creation. For this version, you can only invest in your fund once.
    2: Trade using the first Melon Universe Module which is now live with 5 ERC20 assets (ETH, BTC, MLN, EUR and REP). Trades history is visible on kovan.etherscan.io.
    3: Monitor prices of these assets using the first data feed module brought to you by Cryptocompare and Oraclize using native proofs
    4: Calculate fund/share prices as well as NAV in real time (assuming for this version zero management and performance fees)
    5: Redeem and annihilate shares in your fund at any time (using redeem)
    6: Trade on our exchange against our liquidity provider, which tracks real prices and provides continuous bids and asks (liquidity) at current market prices
    7. Generate a real, stored track record on Kovan secured by the integrity of Kovan’s authorities

    Implications — A Real track-record!

    Since Kovan uses a proof of authority consensus algorithm, it’s security proposition is as strong as the integrity of its ten authorities. Comparing this to the 5 mining pools in bitcoin that currently control 55.1% — we can see that Kovan has in fact a very strong security proposition.

    This strong security proposition of the Kovan network is combined with an oracle system using native proofs— think of it as CryptoCompare digitally approving/signing over the integrity of the data that is intended to be delivered to the blockchain, and Oraclize taking the data and verifying the signature on the blockchain! This means that manipulation of data on its journey from the data source to the blockchain becomes virtually impossible (assuming the same cryptographic properties hold that make your Ethereum private key secure).

    Fund management is currently restricted to allow trading only against our liquidity provider — so assuming the liquidity provider provides bids and asks according to current market price - an assumption that can be trivially verified for past bids and asks. For this version, users can only “take” orders from the liquidity provider. We arrive at the conclusion that even though we’re using no real value yet — your track-record is already very real.

    Are you tempted to try it out?

    We hope so! We dearly value any feedback on this new release. so if you’d like to learn how to use it, keep reading. If you’d like to TRY IT RIGHT NOW, then head on over to the portal and give it a go! If you are in a rush — why not watch our newly released short demo video (with some audaciously funky music, courtesy of Kerala Dust)!

    The Future Will Be Decentralised!

    How it works:

    It’s quite simple really! Once you have read and accepted the terms of use, the first thing to do is check that you are connected to the Kovan Ethereum testnet and fully synced. This could be on Parity, MetaMask, Ethereum Wallet etc. You will need some Kovan test Ether to get going — if you don’t have any, just ask on our Melon Gitter channel or the Parity Gitter channel and a member of our team or their’s will send you some ASAP. You will require a Github account to use Gitter, but if you haven’t got one already, now is as good a time as any! Also by having a Github account, it will be much easier for us to utilise your valuable feedback!

    Once you’re good to go — give your fund a name and proceed to scroll down the list of modules. For the moment (in this release), there is only one of each module, so there is nothing you have to do except click “Create New Portfolio”.

    Once you do this, you will have to wait a few blocks for your fund to be deployed to the blockchain. You will receive a new alert once this is done and a new tab will appear in the top right of the screen called “My Fund”.

    Amazing! You just setup your own fund, how easy was that?

    Before you can trade in your fund, you need to fund it with some initial capital. This is where your Kovan test Ether come in handy! Go to “My Fund” and invest in your own portfolio. Metamask will prompt you three times for your authorization to

    (i) deposit the Kovan test Ether you wish to invest

    (ii) approve their spending by your newly created fund and finally

    (iii) create your shares.

    You will receive a notification when the shares are successfully created, and a new tab “Manage” will appear.

    If you scroll down on this page, you will see the testnet order book (Melon’s liquidity provider) making markets in the Melon Universe asset pairs, pretty cool eh?. Select the asset pair you would like to trade, select the order you wish to fill on the order book by clicking it and set your desired volume and execute your trade by clicking the Buy (or Sell) button. Watch out Warren Buffet! Prices are directly set by the liquidity provider, according to real market prices, in an attempt to prevent market manipulation.

    You can always go back to “My Fund” and scroll down to see your fund’s AUM, share price and holdings at any time.

    Also, note the “Ranking” button at the top right of the window and at any point. you can click on the ranking to see how you are faring compared to other funds out there on the testnet!

    If you are accessing the portal with your mobile, or if you don’t have access to Metamask, Parity or Mist, we didn’t forget you! You can click the ‘As visitor’ button in the top right corner of the page; you will be able to see the list of ranked portfolio and explore them.

    Finally, we value our users and community tremendously, and if you have feedback we would absolutely love to hear it! Please file a issue on Github and we will work our way through them as soon as possible. We’ve even placed a handy Feedback button at the bottom of the page to make it super easy.

    Our community is our biggest asset, and we look forward to hearing from you all!

    The Melonport Team (Mona, Reto, George, Simon, Jenna and Ahmad)

    Thanks to Jenna Zenk.



  • Melonport Oyente Beta Release

    After several months of implementing, testing and refactoring, today, we
    are happy to announce the first beta release of Oyente, a symbolic
    execution based analyser for Ethereum smart contracts. This release is
    made possible with support and funding from Melonport AG. The release
    can be found on Github, and an online version is available at http://oyente.melonport.com/.


    What is Oyente and how it works?

    Oyente was part of a research project carried out at the National University of Singapore. The academic paper which reports Oyente was accepted in a major security conference last year, and a very early version of the tool was released soon after that. Oyente analyses Ethereum smart contracts directly at the EVM bytecode level to ascertain whether there are any bugs that could cause security issues. This means Oyente can work with all high level EVM languages, including Solidity, LLL, Serpent and Viper. Currently, Oyente is able to detect common and well-known bugs including reentrancy, transaction race, call stack limit and timestamp dependence bugs amongst others. Support for analysis of smart contracts such as token contracts is underway.

    At a high level, Oyente explores all possible execution paths of a smart contract. For every path, Oyente checks if any possible bug is present, and flags the contract as anomalous if so. Oyente uses symbolic execution, a well known technique in programming analysis to symbolically represent the behavior of an execution path in a mathematical formula. Oyente then compares the newly generated formula of the execution path with the formulas that summarize the common bugs to see if the two can both be valid at the same time, i.e. the execution path is buggy. This methodology, if implemented correctly, is one of the most generic and cost effective approach to reason about security of computer program in general and smart contract in particular.


    What are the changes since the initial open source release?

    The Oyente team has made significant changes during for this beta release:

    • Implemented unit tests for our symbolic EVM interpreter which symbolically reasons about the execution path at the bytecode level. We have found and fixed several bugs in the interpreter implemented in the initial release of Oyente.
    • Support nearly all of the opcodes in the EVM, so we can cover all possible paths of the contracts. However, some opcodes are not possible to represent symbolically, e.g. DELEGATECALL, EXTCODECOPY and so on. For these opcodes, it makes more sense to add more context to analyse them precisely. That’s why we have enabled the next feature!
    • We allow users to set the analysis environment, e.g. blockchain source, storage values, contract address and so on and so forth. This makes the analysis context-sensitive and reduces the potential for false positive results.
    • Loops are handled well in this release. In the initial release, Oyente terminated the path whenever it encounters a loop. In this release, we allow users to specify the number of iterations that a loop can go, or just let it run as long as the gas limit allows.
    • There are a bunch of features (e.g. gas tracking, limit depth of exploration and so on), optimizations, cleanups that we have done as well. You can check all the issues closed in the last 3 months to see how much effort has been put in.

    What I can use Oyente for?

    For non-technical users, Oyente can be used as it is to analyse any contract that you may wish to engage with! Oyente will inform you if there are any potential bugs that might cause you problems. While this is not a magical bullet, and CANNOT guarantee ultimate safety, we hope it will be used as a first safety-check for users before they interact with any contracts.

    Oyente is of course also very useful for developers who wish to analyse their own contracts. It is always helpful to have a tool that checks your code, especially when you are new to a programing language like Solidity. Developers can also implement a new detection module for the a specific bug/ property that they want to check for in their contracts.

    This has far reaching implications for anyone designing a smart-contract protocol. It allows to check for certain smart-contract specific properties that are in general not considered a bug but are within the context of the smart-contract protocol considered a security risk.

    Imagine you’re using a smart-contract module in Melon — think of it as a smart-contract linked to another smart-contract. Oyente can now be modified to check whether this specific module does have opcodes for external calls — if it does it could be flagged as violating the guidelines of the Melon protocol and thus help enforce a security standard for Melon modules.

    Another modified check could be to track all ERC20 token transfers and values thereof. Doing this for all possible execution paths can lead to something particularly close to a formal proof that ERC20 tokens cannot be transferred or siphoned off of a smart-contract in any unintended. This methodology can be applied to all Melon funds!

    Another use case for Oyente is generating test cases for smart contracts with high coverage. The execution path exploration module in Oyente allows us to visit all possible paths, and generate corresponding inputs that drive the contract’s execution to these paths. One can run the generated inputs and check if the outputs are as expected to verify the correctness of their implementation.

    Oyente has also been used by other researchers to detect bad coding patterns in a contract by leveraging the state exploration and symbolic execution engine in Oyente. We look forward to seeing their their detections being contributed to the main Oyente repository!

    Next step?

    There are several things we want to improve and add to Oyente. One direction is that, given the ubiquity of token contracts, we may support the analysis of ERC20 and token contracts. As mentioned in above example, the team aims to detect and track ERC20 token transfers and values thereof.

    The other direction is to give more precise feedback to users. Currently Oyente only tells which bugs that the contract is potentially vulnerable to, and which execution traces (or paths) lead to the bugs. We plan to give better representation for the results (e.g. tell which line, which function of the source code may cause the problem) and produce some concrete input set for users to self-verify the reported bugs. We also aim to reduce the false positive rate by adding an new module to verify the report from the detection modules. If you are interested in working on any of these directions, please join the team on github!

    Reminder: this is still a work in progress, so watch out for bugs! :)

    We look forward to receiving feedback from our future users!

    On behalf of the Oyente team,

    Loi Luu



    Loi Luu

    Loi is a researcher working on cryptocurrencies, smart contract security and distributed consensus algorithms. Loi believes in the force of the Ethereum and Blockchain technology. Much of his work revolves around this community. Apart from Oyente, the first open-source security analyzer for Ethereum smart contracts, Loi also cofounded SmartPool, another open source project which embraces decentralization of mining pools in existing cryptocurrency. He continues to champion decentralisation and trustless properties of the Blockchain with the KyberNetwork project, taking inspiration and developing value for the community.

    Github - https://github.com/loiluu

    Twitter - https://twitter.com/loi_luu











  • Melon dev update June 2017

    First things first: the 0.1.0 Melon Portal is now live, check it out!






    Now, hello world from the Melon dev team ! 👋 👩🏽‍💻👨🏼‍💻👨🏻‍💻👨‍💻

    The past month, we have been working on integrating our smart contracts deployed on the Kovan testnet, with our interface: the Melon Portal.

    To provide constant liquidity, we built a friendly robot (the daemon) that continuously places buy and sell orders at the current market price for a given asset pair.

    On the Melon Portal, we implemented the following use cases:

    • Set up and deploy a fund/portfolio
    • Invest and redeem shares of your portfolio
    • Order book syncing with our daemon liquidity provider
    • Taking orders directly from the order book for 4 asset pairs
    • Display portfolio and account holdings
    • Display recent trades

    We have also started working on the Melon Satellite, which is a smart-contract based product that will provide a searchable registry of Melon modules for fund managers to include in their portfolio suite. Users can think of it as an “app store” for Melon Modules and devs can imagine it as a package index like PyPI or NPM. Ultimately, users will browse modules created by Melonport or by third parties, developers will register their own modules, and anyone will be able to vote on/review modules that they have used. Our Head of Design started working on the UI design and branding for the Melon Satellite.

    Next moves include: layering on the UI for the Melon Satellite and improving the user experience of the portal! Therefore, please use our feedback button to report issues or submit your great ideas on our github !

    This is our very first dev update; you can expect one of those every month from now on! 🍉❤️

    Melon Dev Team


    Jenna Zenk


    A software engineer with an extensive background in finance and asset management, Jenna worked at hedge funds in Paris and New York between 2014 and 2016. Her keen interest in the Ethereum ecosystem then inspired a new love of programming. She started learning full stack JavaScript at Fullstack Academy of Code in New York, before diving deeper into decentralized app development. She studied at ESCP Europe in Paris and completed a master in management and financial engineering.

    Github: https://github.com/jennazenk

    Twitter: https://twitter.com/jennaszenk

    Website: https://melonport.com/

    Thanks to Melon Project.



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