ENKI’s Enhanced Staking Initiative: Doubling Down on Community Rewards

3 min readMay 3, 2024

We’re excited to announce a shift in our token distribution strategy with an additional 200,000 ENKI tokens now reallocated to the Metis Staking Airdrop/Incentive. This strategic adjustment is designed to deepen our commitment to our users by enhancing the staking rewards and simplifying the participation process.

Here’s a detailed breakdown of the initiative, why we’re making these changes, and how it benefits our community.

Overview of the Token Reallocation

Metis Staking Airdrop Enhancement:

Previously Allocated Tokens: 200,000 ENKI
New Allocation: 400,000 ENKI Total
Source of Additional Tokens: 200K out of 400K previously allocated to Invitation Staking Activity

This move doubles the rewards available in the Metis Staking Airdrop, where users receive rewards based on the amount of Metis they stake within the ENKI protocol. A points system is used to calculate each participant’s share of the token allocation, rewarding users directly for their staking efforts without the need for intermediaries.

Detailed Reasons for the Reallocation

1. Boost Early Adoption:

Objective: Attract a larger base of initial users.
How It Works: The increased token allocation makes staking more attractive by offering higher rewards, which are expected to draw more participants to the platform from the outset.

2. Simplify Rewards:

Objective: Make the reward system easier to understand and engage with.
How It Works: By focusing on direct staking rather than a referral system, the Metis Staking Airdrop becomes straightforward, allowing users to easily see the benefits and how to achieve them, thereby reducing complexity and barriers to entry.

3. Ensure Fair Distribution:

Objective: Promote equity in token distribution.
How It Works: Enhancing rewards for staking rather than referrals helps prevent the concentration of tokens among a few, supporting a more decentralized distribution and fostering a healthier ecosystem.

4. Strengthen ENKI’s Value:

Objective: Enhance the intrinsic value and market perception of ENKI tokens.
How It Works: A larger reward pool directly linked to core activities within the ecosystem not only underscores the token’s utility and importance but also boosts its attractiveness to prospective users and investors.

5. Accelerate Adoption:

Objective: Increase the pace of adoption and network activity.
How It Works: With more substantial rewards available sooner, more users are incentivized to participate early, speeding up network growth and activity.

The Points System Explained

The points system employed in the Metis Staking Airdrop is designed to quantitatively reflect the extent of each user’s participation from staking $METIS. Points are awarded based on the amount of Metis staked, with each unit of Metis staked translating into points. These points then determine the proportion of the 400,000 ENKI tokens each participant will receive. This method ensures that the rewards are distributed in a manner that is proportional to each user’s contribution to the network’s security and stability.

Conclusion

This strategic enhancement of the Metis Staking Airdrop by reallocating tokens from the Invitation Staking Activity to direct staking rewards represents a significant shift towards simplifying participation, ensuring fairer distribution, and strengthening the overall value proposition of the ENKI ecosystem. By making these changes, ENKI aims to foster a more inclusive, equitable, and thriving community, setting the stage for robust growth and long-term success in the DeFi space.