- Enso Finance reveals plan to bootstrap liquidity on its new platform.
- It also plans to set up ‘Vampire Attack’ on six protocols.
- Early migrators will be rewarded for their gas expenses.
- Users will be rewarded with Enso’s NFTs and native tokens.
DeFi infrastructure platform, Enso Finance unveils its plans to bootstrap liquidity on its new platform with an accompanying vampire attack on six protocols. In detail, for each of the ‘Gen 1.0’ protocols Enso marks, an Enso Arcade section guiding users through the migration will be made available.
Enso’s team says its vampire attack strategy is similar to that of Sushi but in a more technically complex way as it’s not a fork of any of the protocols it’s targeting. To them, this process will help showcase the composability of Enso, a platform that allows anyone to create custom indices, sets, or strategies, which puts it well above the technical capabilities of its older peers.
Precisely, Enso Finance is a new DeFi tool that allows anyone to create permissionless trading strategies. It also allows users to create social metastrategies with batch asset purchasing, yield farming, liquidity mining, tolerance band rebalancing, restructuring, flash swaps, collateralization, and arbitrage.
Essentially, any strategy utilized on other protocols can be replicated with even more features on Enso by its community. Although to create such an ecosystem, Enso cannot merely count on innovative technology, as it also relies on social engagement. Enso gears to attract devoted experts from the field of passive indices and strategies to its new ecosystem with this innovative liquidity bootstrapping method.
Additionally, the team confirms that its targeted six protocols Vampire Attack are; Token Sets, Index Coop, Indexed, PieDAO, dHedge, and PowerPool. Starting from the day of Enso Arcade’s launch, users are going to be able to migrate their Strategies, Sets, and Indexes, or buy them through built-in exchange support with Sushi and UniV2/V3, following a few simple clicks.
To facilitate early adopters, Enso says it is going to compensate them for their gas expenses for migration by Enso after the scheduled ‘attack’ is completed. Not only that, users will be rewarded with Enso’s NFTs. Likewise, they will get Enso’s native tokens. Of note, these collectibles contain hidden gems which can be claimed as soon as users start staking and before the beginning of the migration.
The migration’s duration is limited and does not have a public deadline. In particular, the potential TVL that could migrate is $1.05 billion, though stakers could choose to supply new assets to these protocols.
Calling on existing users to migrate, Connor Howe, co-founder of Enso says,
Liquidity is the fuel that powers DeFi and it is the essence of Enso’s platform. We want to show the community just how innovative we are, and there’s no better way of doing so than incentivizing existing users to migrate. This is the first time anyone’s attempting to attack six protocols at once, so we’re very anxious to get started!