TL; DR breakdown
- Enso Finance plans a vampire attack on crypto index platforms
- The protocol requires users to navigate in search of incentives.
- The co-founder of the protocol is optimistic about this move.
Most of the users in the crypto sector have one idea in mind related to the sector that generates as much profit as possible. But while it would seem to be achievable, it all comes down to the offerings of their platforms. While centralized platforms provide a small pathway to generate profits and rewards, decentralized platforms provide traders with maximum profit opportunities. In this regard, Enso Finance announced that it will float its platform against the vampire attack on six of the top index projects in the decentralized finance sector.
Enso Finance wants traders to migrate and receive incentives
The Vampire Attack is a well-known phenomenon among seasoned traders in the decentralized finance sector. This is a move by the new exchange aimed at attracting users from other leading exchanges by giving them mouth-watering deals in the DeFi sector. Last year, one of the biggest vampire attacks on the decentralized financial sector was Sushiswap.
In its attack on vampires, the platform could lure users out of close competition, and Uniswap saw the value on the two exchanges to be around $ 1.5 billion. After listing the companies they would target in the attack, the Enso Finance team announced on Twitter that their list includes, among others, dHEDG, Index Coop, PowerBook.
One special thing that ties all of these exchanges together is offering crypto index services to users. A cryptoindex platform is a platform that allows users to track the performance of multiple tokens in a sector. Users were instructed to deposit their tokens on Enso Finance in order to receive rewards, with the result that they left the closed competitions.
Enso Finance boss is optimistic about this move
In a statement, Enso Finance said it was targeting a total blocked value of about $ 1.05 billion at the end of the attack. EnSo Finance is a protocol that allows DeFi traders to create their own custom trading strategies. Once the strategy is created, Enso Finance allows them to share it among the platform members. The first few people to switch to Enso Finance will receive mouth-watering ENSO token giveaways, no gas fees on deals, and other incentives.
Users will be open to receiving wrapped ENSO tokens on the platform, provided they adhere to strict rules on keeping their tokens on the platform for approximately three weeks. Giving his feedback on how much he believes in this move, Enso Finance boss Conor Howe was optimistic about achieving the set goals. He mentioned that the company wants users to know that they are serious about the business, and from here there are many opportunities for profit.