Introduction
Welcome to ENKI protocol!
This documentation is intended to introduce the general user to the project.
What is ENKI?
ENKI Protocol is the leading liquid staking solution built on top of Metis decentralized sequencer, providing a simplified approach to get rewards from sequencer node. By staking with ENKI your Metis tokens remain liquid and can be used across a range of DeFi applications on Metis, maximize your returns.
Liquid staking: Bridging Accessibility and Efficiency
The Metis decentralized sequencer introduces a groundbreaking Layer2 solution, demanding stringent node operation requirements for security and stability. These barriers — such as whitelist accessibility, a substantial Metis token requirement (Minimum 20,000 for node operation), and the complexities of node management — restrict average users from partaking in its benefits.
ENKI Protocol emerges as a solution to these challenges and got passed on the CEG and LSD Infrastructure, fostering a liquid staking environment where users can earn staking rewards while participating in trading opportunities. This democratizes access to sequencer node benefits by:
Lowering the entry barrier for sequencer node participation.
Streamlining the staking process, eliminating the need for technical setup and maintenance.
Allowing flexible staking amounts, catering to users with varying capacities.
Utilizing eMetis/seMetis as foundational elements for other DeFi applications, enhancing overall ecosystem liquidity and functionality.
Fees and Security
A 10% fee on sequencer node mining rewards is instituted by ENKI, directed towards the protocol's treasury to support future growth and community incentives. Security remains a paramount concern, with ENKI deploying rigorous measures such as governance oversight, multiple audits, and non-custodial staking services to mitigate risks and ensure platform integrity.
Conclusion
ENKI Protocol signifies a pivotal development in liquid staking, facilitating broader participation in the Metis sequencer rewards system without the conventional barriers. This not only simplifies the staking process but also enriches the DeFi ecosystem on Metis, providing a dual benefit of staking rewards and DeFi engagement opportunities.
Disclaimer
Participating in DeFi carries significant risks, including but not limited to: smart contract vulnerabilities, loss of funds, market volatility, regulatory risks, and other risks associated with emerging technologies.
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