Vampire Attack: 6 protocols
Liquidity is the fuel that powers DeFi. As with most DeFi protocols, liquidity is of the essence for Enso Finance as well –especially at launch. The platform is thirsty for some fresh liquidity to power-up and take Enso to the next level.
Why are we doing this?
Our motivation for a vampire attack is twofold:
First, initial liquidity bootstrapping of the protocol. As mentioned above, the Enso platform only works with active users who bring liquidity to the platform from Day 1. This liquidity will help to further grow and develop Enso protocol into a leading permissionless social trading protocol for DeFi.
Secondly, we want to show the community the tech capabilities of Enso. This will be the first liquidity migration event simultaneously executed on six different protocols in parallel. Enso protocol is neither a fork of any of the protocols in question nor are any of their LP tokens simply being migrated to the Enso protocol; the underlying assets are being migrated. We want to demonstrate the composable nature of Enso Strategies where Strategies, Sets and Indexes can exist on the Enso platform and offer even more features than on any of their native platforms.
How will the vampire attack work?
You will be able to access the liquidity migration event through the Enso Arcade. Each of the six arcades on the site represents one of the protocols. In the Arcade, you will find everything you need to execute the migration.
Remember, there is a limited duration to the migration event — you cannot be sure when it ends so choose your timing wisely.
Got it, so what do I need to do?
- When the vampire attack starts, go to the Enso Arcade (released tomorrow). Please ensure you use only official Enso channels, which is where the link is shared.
- Connect your Web3 wallet.
- Go to one or all of the arcades and select the Strategy, Index, or Set you would like to migrate.
- Select the amount you’d like to stake, and boom, you’re done!
- If you don’t have any Strategies, Indexes, or Sets yet don’t worry. Enso platform has built-in exchange routers with Sushi and UniV2/V3 to buy directly through the UI.
What’s in it for me?
Enso is very appreciative of its community and will make sure all early supporters will benefit from bootstrapping their liquidity to kick-start the Enso platform. And so Enso platform has three incentivization methods:
Gas Costs
Enso will pay the gas for withdrawing the underlying assets from the victim’s platform, creating the same replication of the strategy on Enso, and depositing the funds into the new strategy.
NFTs
When you stake a token from the victim’s platform in the vampire attack contract, you will be eligible for claiming an NFT. Claiming is only available prior to the migration happening, so you should claim yours as soon as you stake. These NFTs include some hidden gems for the future.
NFTS: https://twitter.com/EnsoFinance/status/1468282208611971075
Native Token
Enso wishes to have a thriving community, and is incentivizing participants of the vampire attack with its native token. Distribution will occur after the migration has been completed.
And there’s more… but we don’t want to spoil the surprise just yet.
Who victims?
Enso believes by doing this attack, it help the strategy creation and index industry move faster through continuous improvements. Let’s not get bull run lazy 🦥… and continue building…please..
When live?
Tomorrow.
In the meantime, please join our Discord and Telegram to engage with our community and keep an eye on our Twitter to find out more!
Welcome to Enso Finance — Social Trading Redefined.
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.
