- Enso Finance Plans Vampire Attack on Crypto Index Platforms
- The protocol requires users to switch in search of incentives.
- The co-founder of the protocol is optimistic about the move.
Most users in the crypto sector have one idea in mind related to the sector that brings in the most profit. But while this is seemingly achievable, it all comes down to what their platforms offer. While centralized platforms provide a small avenue for profit and rewards, decentralized platforms provide traders with the maximum opportunity to generate profits. In this regard, Enso Finance announced that it will float its platform from a vampire attack on the top six index projects in the decentralized finance sector.
Enso Finance wants traders to migrate and get incentives
The vampire attack is a well-known phenomenon among experienced traders in the decentralized finance sector. This is a move by a new exchange designed to attract users from other leading exchanges by providing them with mouth-watering deals in the DeFi sector. Last year, one of the major vampire attacks on the decentralized financial sector was Sushiswap.
In its vampire attack, the platform was able to lure users out of close competition, and Uniswap saw a value of around $1.5 billion across the two exchanges. After compiling a list of companies they would target in the attack, the Enso Finance team announced on Twitter that their list included, among others, dHEDG, Index Coop, PowerBook.
One particular thing that ties all these exchanges together is the offering of crypto index services to users. The crypto index platform is a platform that allows users to monitor the performance of multiple tokens in a sector. Users were instructed to deposit their tokens with Enso Finance in order to receive rewards, resulting in them leaving the closed competitions.
Enso Finance boss optimistic about move
In a statement, Enso Finance said it was targeting a total locked value of around $1.05 billion at the end of the attack. EnSo Finance is a protocol that allows traders in the DeFi sector to create their own custom trading strategies. Once a strategy is created, Enso Finance allows them to share it among platform participants. The first few people who switch to Enso Finance will receive mouth-watering ENSO token giveaways, no gas fees on trades, and other incentives.
Users will be open to receiving wrapped ENSO tokens on the platform, provided they adhere to the strict rules of keeping their tokens on the platform for approximately three weeks. Giving his feedback on how much he believes in the move, Enso Finance boss Conor Howe was optimistic about achieving the 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.