‘Vampiric’ Enso Finance aims to leech $1 billion from competing DeFi platforms


Social buying and selling platform Enso Finance has introduced a month-long “vampire assault” on six decentralized finance (DeFi) index tasks in a bid to siphon their mixed liquidity of almost $1 billion.

“Liquidity is the gasoline that powers DeFi and it’s the essence of Enso’s platform,” famous Enso co-founder Connor Howe. “We wish to present the group simply how revolutionary we’re, and there’s no higher approach of doing so than incentivizing present customers emigrate. That is the primary time anybody’s making an attempt to assault six protocols directly, so we’re very anxious to get began!”


In line with Enso’s website, the platform’s schtick is to supply customers and decentralized autonomous organizations (DAOs) with instruments to “create buying and selling methods with countless prospects and share the alpha with your pals and the Enso group.”

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In the meantime, a vampire assault is an try to switch liquidity—represented by varied digital belongings that customers lock up on a platform—from one challenge to a different. Probably the most noteworthy vampire assault to date occurred final yr when SushiSwap, a fork of in style DeFi protocol Uniswap, tried to syphon the latter’s liquidity.

What we do within the indices

The assault will likely be carried out in opposition to tasks comparable to Index Coop, Set Protocol, PieDAO, dHEDGE, Powerpool, and Listed Finance. Every of them is targeted on varied crypto index merchandise which might be pegged to costs of belongings comparable to DeFi tokens or NFTs.

In line with metrics tracker DeFi Llama, the whole worth locked (TVL) on these platforms presently quantities to round $930 million. Index Coop ($409 million locked) and Set Protocol ($453 million) are accountable for the lion’s share of this sum.

In the meantime, PieDAO ($13.8 million locked), dHEDGE ($20.8 million), Powerpool ($18 million), and Listed ($11.4 million) have roughly $64 million in liquidity mixed.

Naturally, a “vampiric” platform often tries to incentivize customers to switch their belongings by providing some engaging advantages. In Enso’s case, the challenge promised to reimburse gasoline charges in addition to airdrop its ENSO governance tokens and distinctive NFTs to early adopters.


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