For more than a millennium, Zen monks have practiced the sacred art of Enso… drawing with a single sweeping brush stroke a circle ⭕ designed to reflect their inner states.
This simple, effortless gesture guides Enso’s design philosophy and inspires us to make every step on the DeFi journey frictionless.
To get there, we believe DeFi must:
- Bundle transactions (approvals, swaps, deposits and withdrawals) into a single Zen-like click
- Eliminate the need to visit multiple websites to enter a vault, farm, pool or leveraged position
- Optimize costs at every step
- Automate predictable transactions
- Build a decentralized repository of DeFi interactions that’s open to all contributors
For the past two years, Enso’s team of 16 developers, designers and contributors have been devoted to this mission. When Enso v1 launched in March 2022, it focused on composable social trading strategies.
Today, we’re excited to share how we’ve taken our v1 learnings and dramatically broadened the protocol’s scope with Enso v2. Slated to first launch on Ethereum mainnet in coming weeks, Enso v2 will begin adding features and deploying on all other EVM-compatible chains shortly thereafter.
What is Enso V2?
Enso v2 is a universal DeFi dashboard where farmers, traders, and DeFi users can go to interact with any EVM-based protocol and open up many positions with a single click.
That means no more visiting half a dozen websites. No more individual approvals before every swap or yield farming interaction. And no more need to manually execute many of the transactions that you make on a recurring basis.
Bundling and routing lies at the heart of Enso’s innovation. Today, all bundling solutions such as multicall, multicall2, multicall3, and multisend require off-chain estimations prior to execution on-chain. By following this type of implementation, transactions regularly fail or result in dust. The Enso bundling technique utilized in the Smart Wallet solves this problem, allowing for frictionless transaction bundling.
Today, most Ethereum accounts – including a standard Metamask wallet – are a specific type dubbed Externally Owned Accounts or EOAs. They’re the source of much of the friction in DeFi today.
EOAs require individual transactions for virtually every smart contract interaction. Enso dramatically expands what users can do with an EOA by linking it with a smart wallet – essentially a smart contract controlled by the user’s EOA.
Smart wallets not only allow users to bypass the cumbersome approvals (and need to visit third party websites) that’s required by many protocols and wallets, they give you the ability to batch transactions. That means you can complete a complex series of transactions (e.g. harvesting and autocompounding your yield farming rewards) with a single click.
Best of all, your Enso smart wallet is perfectly compatible with your existing Ethereum accounts. With the launch of Enso v2, you’ll be able to connect your existing wallet and immediately use Enso’s dashboard to streamline your DeFi interactions by importing your balances – or even leaving them in place.
Connect once and you’ll gain immediate access to Enso’s Shortcuts where you’ll be able to leverage the best strategies from the best traders and yield farmers in crypto.
The power of Enso Shortcuts
The Enso Shortcut framework aims to be DeFi’s Library of Alexandria. Filled with pre-programmed DeFi interactions – from yield farming to LP’ing to options and delta-neutral strategies – anyone will be able to take advantage of any strategy in the library.
Shortcuts are the most flexible and efficient DeFi abstraction framework that has ever been designed. Among other things, it enables:
- Bundling of any on-chain actions into one transaction, which allows for a DeFi UX that has never been seen before
- Re-usability and composability of Shortcuts to create and combine complex routes across the whole ecosystem
- Choice of dynamic pathing of best price and gas price for execution
Upon launch, DeFi users will be able to access Enso through the Enso interface. Shortly after launch, DeFi devs will be able to create custom workflows using Enso Shortcuts whether this is:
- Using Enso infrastructure as their core adapter for integrating with other protocols
- Building full applications on top of Enso instead of building standalone smart contracts. That means vault strategies, leverage, and even options platforms can be created (and launched the day they’re written!) using only Enso Shortcuts
- Integrating the Enso router to build the necessary calls that allow their users to interact with a protocol with a single click – including entering a liquidity position, staked position, yield position, and more
Enso envisions the Shortcuts Framework as the end-game protocol for a unified DeFi experience. DeFi users or developers can combine all DeFi primitives to create new and innovative DeFi strategies into a single transaction. This unparalleled flexibility offers a radically new user experience that will shift end user expectations and dramatically streamline the DeFi development cycle.
The future of programming on EVM chains
With 16 devs, designers and contributors, Enso’s team draws on past experience at DeFi and web2 heavyweights including MakerDAO, Gnosis, Aragon, Coinflex, Sygnum Bank, Klarna and Revolut. The Enso Shortcuts framework was built with two primary goals: flexibility and security.
Enso’s flexibility is unrivaled. In the old world of development, devs needed to ensure their new protocol was compatible with the initial architectural design of smart contracts. Complex adapters had to be written and integrated on-chain – a process that takes months and extremely costly for every new integration. With Enso Shortcuts, every product is compatible with every other protocol on Day 0.
To ensure every Shortcut built on Enso is as safe as possible, the protocol has undergone six audits from the industry's leading firms including ABDK, ChainSecurity, and MixBytes. Each audit will be published with the protocol’s launch.
The launch of Enso V2 and beyond
Slated to launch on Ethereum mainnet later this month, Enso has also started work to integrate its first 15 EVM-compatible chains over time. With each of these deployments, the framework will become dramatically more unified by integrating cross-chain DeFi transactions and management through one interface.
That means users could, for example, exit a mainnet yield farm, bridge their profits to a leading L2, and enter a new LP position in a single click without needing to manage their funds on each individual chain.
After the initial launch, Enso will also iteratively rollout additional new features including:
- Automated strategies that require no user interaction including auto-compounding, recurring DCA buys, auto-harvesting of rewards and position optimization powered by Gelato
- Machine learning integrations to automate and optimize the ideal route for cross-chain transactions. This will enable users to enter yield farms on another chain with a single transaction
- Introduction of a governance token to decentralize protocol governance
Enso as web3 Zen
One of our earliest core convictions remains steadfast: there will soon be 100,000+ DeFi applications with daily active users. In that world, we believe Enso will serve as the ecosystem’s primary gateway.
The protocol’s ease of use and time and cost savings will represent a step function increase in DeFi usability. With that extra time and mental bandwidth, users will focus less on the technical requirements behind their transactions and more on their ultimate strategies and goals.
Much like Zen monks approach the blank canvas with a different state of mind, intention and experience – so too do DeFi users approach this space with different goals. Enso will give all users the tools to transform their canvas in radical ways with one effortless click.
Ready to experience DeFi Zen? Follow Enso on Twitter and turn notifications on to be among the first to try this revolutionary new platform.
This article is neither an offer of nor marketing material for financial instruments or financial services. Enso Finance is not regulated under any financial market laws in any jurisdiction. It is only the developer and provider of the ENSO protocol. Due to its decentralized nature, the ENSO protocol is neither controlled nor operated by Enso Finance. Enso Finance is neither providing financial services nor offering financial instruments.
Any liability is excluded to the extent permitted by applicable law.