Metis CEG Program: ENKI - A LSD Protocol Revolutionizing DeFi on Metis

Introduction

As a dynamic and innovative player in the DeFi space, ENKI is excited to express our interest in becoming a key part of the Metis community. Our journey so far has been driven by a commitment to revolutionize DeFi, and we believe aligning with Metis aligns perfectly with our vision.

ENKI is designed to streamline the staking process within the Metis ecosystem, offering a unique approach to maximize yields and simplify governance. As a liquidity staking derivative protocol, ENKI addresses challenges related to fragmented liquidity and the complexity of integrating with multiple DeFi protocols. We are poised to create a more cohesive DeFi environment, enhancing yield and governance processes within Metis.

Website: https://enkixyz.com Social Media: X(formerly Twitter) Medium

Key Features

• eMetis and seMetis Tokens: Utilizing a dual-token mechanism similar to established models, ENKI offers eMetis for seamless transactions and seMetis for yield optimization within the Metis ecosystem.
• Simplified Staking Process: Our platform streamlines the process of converting Metis to eMetis and staking for seMetis, providing enhanced yield opportunities.
• ENKI Token Utility and Vesting Mechanism: The ENKI token plays a critical role in our vesting system. Token holders can participate in governance and decision-making processes, and the vesting mechanism aligns with long-term user engagement and ecosystem growth.

Value Proposition

ENKI aims to redefine DeFi by focusing on enhancing liquidity, promoting Total Value Locked (TVL) growth, and simplifying operations. Our approach includes providing flexible options for users after minting eMetis, such as staking for yield or providing liquidity on DEXes, thereby promoting widespread adoption of DeFi solutions.

Functionality of ENKI

ENKI's functionality revolves around the seamless conversion of Metis to eMetis and the option to stake for seMetis. This system optimizes yield, enhances security, and promotes user engagement, creating a dynamic and efficient DeFi ecosystem.

Roadmap

• Q3 2023: Development of Proof of Concept - We will begin developing the foundational framework and core functionalities of ENKI, ensuring a solid base both technically and strategically.
• Q4 2023 ~ Q1 2024: Beta Version Release on Testnet - Launching a beta version of our product on the testnet for public testing, a crucial step in validating our features and overall system stability.
• Throughout 2024: Public Release and Product Upgrades - Planning for a public release followed by a series of upgrades to enhance our offerings, ensuring that ENKI remains at the forefront of DeFi innovation.

Conclusion

ENKI is set to be a cornerstone in the Metis ecosystem, enhancing DeFi efficiency and governance. We aim to continuously add value and optimize yield for stakeholders, leveraging our strategic positioning within Metis to amplify our influence in the DeFi space.

Litepaper and Audit

• Our comprehensive litepaper will be available after we launch the testnet.
• For auditing, we firstly partnered with Armors Labs, and the verified audit report can be found at here. We will get more audit reports before we officially launch on mainnet.