Enso to Launch 'Vampire Attack' on Six Crypto Index Projects

Metaverse-based social trading platform Enso Finance has announced that it plans to launch its platform on December 9 by conducting a "vampire attack" on six major crypto index projects.

A vampire attack is when a platform attracts a competitor's users and liquidity by offering higher usage rewards. In September 2020, SushiSwap carried out a vampire attack that resulted in the transfer of approximately $1.5 billion from Uniswap to SushiSwap.

On December 7, the Enso team tweeted that the attack would focus on Index Coop, Tokensets, PieDAO, dHEDGE, Powerpool, and Indexed. These protocols all offer crypto index products that aggregate the performance of a basket of assets in a niche market, such as DeFi tokens or NFT game tokens. Users must deposit index tokens from these indices into Enso's platform to receive a range of rewards. It aims to attract up to $1.05 billion in total value locked (TVL).

Enso is a social trading platform that will allow individuals, communities or decentralized autonomous organizations (DAOs) to create trading strategies or liquidity mining strategies. They can then share the keys to their successful strategies on this platform.

Enso will compensate gas fees, issue ENSO governance tokens, and airdrop Enso non-fungible tokens (NFTs) to early adopters.

3 weeks after users stake their migration tokens on Enso, Enso will burn the original tokens and issue a wrapped version of the underlying asset.

Enso co-founder Connor Howe is optimistic about the potential of the initiative.

“Liquidity is the powerhouse of DeFi and the essence of the Enso platform. We want to show the community our ability to innovate, and there is no better way than to motivate existing users to migrate.”

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