Ensuring Safety
Safety for longevity of Enso is paramount.
In December we announced our liquidity migration event on 6 protocols and a timeline for conducting the migration.
By announcing the migration date, we indirectly announced the mainnet launch of the Enso platform. Driven by ambition and excitement for the public launch of the Enso platform, we failed to incorporate sufficient timeline buffers for unforeseen bugs prior to deployment.
With the Enso platform, we aspire to provide a social trading application for DeFi natives. To build a platform for the decade to come and to cover social trading for all DeFi and L1 coins involves certain security risks if deployed without proper security measures in place.
In favour of a security-first approach, we are announcing the extension of the liquidity migration event, and to reschedule the Enso mainnet launch. Our multi-step approach for a safer deployment is as follows:
- Make contracts public
- Publish audit from Chainsecurity
- Bug bounty #1
- Bug bounty #2
- Testnet of Enso
- Deploy Enso mainnet for public use
- Migrate funds from Vampire Attack to Enso mainnet
Security is one of the key pillars for the success of the Enso platform, and vital for building trust within the community. We have demonstrated ongoing transparency with the community through various blog articles and provided explanations for decisions that were made. The decision to extend the liquidity migration event and subsequently postpone the launch of the Enso platform was not made lightly, however, it’s in the projects and ultimately users best interest, to take a security-first launch approach.
By rescheduling the time of the launch, rewards for participants in the liquidity migration event will be extended as well. NFTs will remain mintable and users who stick around for the whole journey aren’t going unnoticed.
We hope that the community understands the rationale behind targeting a later date for the migration based upon a security-first launch. No stone should be left unturned that could potentially result in any vulnerabilities being uncovered prior to deployment on mainnet. Audits, as well as internal testing, provide a greater certainty that vulnerabilities have been uncovered, however, even if all risk mitigation measures are being considered, never result in a 100% closure ratio. A great example of opening the contracts prior to mainnet deployment is Andre Cronje’s Solidly project where users are able to understand how the protocol works and report any potential bugs prior to deployment. We are taking the same approach here.
We have extended the staking timeline inside of LiquidityMigrationV2 to April 19th, 2022 — National Garlic Day. By extending the staking timeline, migration can occur no earlier than Tuesday, 19 April 2022 at 14:00 CET, allowing staking to occur up until this time. We plan on releasing Enso V1 prior to this date to enable the community to use it in beta version, understand the application, and provide feedback based upon the current version prior to the migration occurring.
This approach is a collaborative effort and we want to launch Enso together with all of you as a community.
LEGAL DISCLAIMER
This article is neither an offer of nor marketing material for financial instruments or financial services. Enso Finance is not regulated under any financial market laws in any jurisdiction. It is only the developer and provider of the ENSO platform and protocol. Due to its decentralized nature, the ENSO platform and protocol is neither controlled nor operated by Enso Finance. Enso Finance is neither providing financial services nor offering financial instruments. Any liability is excluded to the extent permitted by applicable law.
