Enso’s vampire attack will target 6 crypto index projects
The Enso team aims at gaining $1 billion in total value locked, or TVL, once this attack is done, and 3 weeks is the least period of time before users can gain any benefits.
Enso Finance, a Metaverse-based social trading platform, stated its intentions to launch its platform on Thursday by conducting a "vampire attack" on six key cryptocurrency index projects.
What is a vampire attack?
A "vampire attack" occurs when a platform tempts users and liquidity away from a rival platform by offering greater advantages to the users. SushiSwap launched a vampire attack on September 2020, resulting in the transfer of around $1.5 billion from Uniswap to SushiSwap.
What are the targets of the vampire attack?
This week's attack will target Index Coop, Tokensets, PieDAO, dHEDGE, Powerpool, and Indexed, according to the Enso team on Tuesday. They all provide index products that aggregate the performance of a certain collection of assets in a specific niche, such as DeFi coins for decentralized finances or NFT game tokens for nonfungible tokens. These index tokens will have to be deposited into the Enso platform by users in order for them to get access to various rewards. Up to $1.05 billion is expected to be locked away (TVL).
Individuals, groups, and decentralized autonomous organizations (DAOs) may establish trading strategies and yield farming methods on the Enso social trading platform. Sharing their secrets to success on the platform will then be possible.
Enso will pay gas expenses, give out ENSO governance tokens, and airdrop Enso non-fungible tokens to early users of the blockchain.
Tokens that have been staked on Enso for three weeks will be burned, and the underlying assets of that index will be issued in the form of tokens that have been wrapped. Connor Howe, a co-founder of Enso, was confident in their attack's success:
"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."
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