Crypto

Enso Finance Is Launching a ‘Vampire Strike’ on Six Crypto Index Projects

Enso Finance Is Launching a 'Vampire Strike' on Six Crypto Index Projects

Enso will be launching a ‘vampire strike’ on six cryptocurrency index projects.

The Enso team intends to gain over a billion dollars in total value locked (TVL) as a result of the prank, but consumers must stake for at least three (3) weeks to reap any benefits.

Enso Finance, a Metaverse-based social trading platform, has declared its plans to launch its platform on December 9, 2021, by launching a “vampire attack” on six key cryptocurrency index projects.

When a platform entices users and liquidity from a competitor platform by giving larger incentives for use, this is known as a vampire attack. SushiSwap launched a vampire attack in September 2020, causing $1.5 billion to be transferred from Uniswap to SushiSwap.

The attack would target Index Coop, Tokensets, PieDAO, dHEDGE, Powerpool, and Indexed, according to the Enso team.

Each of these protocols gives crypto index products that combine the performance of a portfolio of assets in a specific specialty, such as DeFi coins or NFT gaming tokens. To gain a variety of rewards, users will be required to deposit index tokens from various indexes onto Enso’s platform. It intends to attract a total value locked up to $1.05 billion (TVL).

Enso is a social trading platform that allows individuals, communities, and decentralized autonomous organizations (DAOs) to build trading or yield farming strategies. They’ll be able to share their secrets to a winning plan on the site after that.

Enso Finance is a Defi tool for creating permissionless trading strategies. It’s hoping to make Defi more frictionless and accessible.

Contact Email: [email protected]

Last Funding Type: Venture – Series Unknown

Early adopters will receive a refund of gas fees, ENSO governance tokens, and Enso non-fungible tokens (NFTs).

Enso will burn the original tokens and issue wrapped versions of the index’s underlying assets after users have staked their migrated tokens on Enso for three weeks.

Connor Howe, the co-founder of Enso, was upbeat about the stunt’s chances.

“Liquidity is the lifeblood of DeFi, and it’s at the heart of Enso’s platform.” We want to demonstrate to the community how inventive we are, and there’s no better way to do that than to encourage existing users to migrate.”

The Author

Samuel Adeshina

Samuel is a financial reporter whose interests include blockchain, market, business, insurance, and Crypto to provide relevant information to all interested.