Enjoyoors
  • WHITEPAPER
    • Introduction
    • User-abstracted rehypothecation
      • Giga CDP of Enjoyoors
      • Giga CDP design
      • Deep secondary liquidity for gigaAssets
    • Protocol stability
      • Efficient portfolio management
      • Supply regulation for gigaAssets
      • System-wide insurance
    • Risk management framework
      • Market risks
      • Technical risks
      • gigaAsset allocation rules
    • Decentralized system architecture
      • Public chain infrastructure
      • Orchestrator appchain
      • Oracles
      • Interchain communications
    • Key protocol features
      • Epochs
      • Reward auctions
      • Intelligent peg adapters
    • Further considerations
      • Making RWAs work harder
      • Own DeFi ecosystem
      • Our priorities
  • SYSTEM ARCHITECTURE
    • Overview
    • Public Blockchain Infrastructure
      • Vaults
      • gigaAsset Manager
      • Target Protocols
      • Target Protocol Adapters
      • Intelligent Peg Adapters
      • AMM Pools
      • Rewards Treasury
    • AVS Relayer
      • Relayers
    • Enjoyoors Orchestrator AppChain (L3)
      • Enjoyoors Management System
      • Orchestrator AppChain Layers
      • Security Mechanisms
      • Price Oracle
      • Governance
      • gigaCDP
      • Portfolio Management System
      • Auctions
      • Insurance Pool
    • gigaAsset Bridge
    • gigaAssets
    • Epochs
  • PROTOCOL FLOWS
    • Deposit
    • Withdraw
    • Auction
  • RISKS
    • Protocol risks
Powered by GitBook
On this page
Export as PDF
  1. WHITEPAPER

Introduction

PreviousWHITEPAPERNextUser-abstracted rehypothecation

Last updated 1 month ago

Enjoyoors is a novel omniasset liquidity primitive. Stake anything, earn yield, and, for DeFi products, tap into a rich source of liquidity.

Enjoyoors unlocks the yield and staking potential of any crypto asset and provides a Liquidity Mainline for DeFi products to tap into a new, powerful source of liquid value from all over Web3.

The protocol introduces a foundational infrastructure that allows any product to succeed in liquidity competition. The Liquidity Mainline nourishes everyone with Enjoyoors liquidity — whether it is a staking protocol, DeFi protocol, or entire blockchain ecosystem.

With Enjoyoors, we aim to eliminate existing liquidity inefficiencies, enabling myriad capital opportunities, including:

  • Generating yield on any underutilized asset: governance tokens, LP tokens, LRTs, etc.

  • Linking underserved ecosystems to trending yield and staking opportunities

  • Sourcing new liquidity for crypto-economic security in restaking protocols

  • Helping legit protocols bootstrap TVL at scale

  • Introducing new opportunities for major market makers and AMMs

The protocol will operate the Liquidity Mainline, a trustless decentralized liquidity agent lending its helping hand to any application or protocol competing for TVL. It ensures that the actual value of a diverse crypto portfolio, which users stake in Enjoyoors, is routed to places where it is needed most and earns the most yield. To make this possible, Enjoyoors works as an actively managed Giga CDP that rehypothecates the value of user-deposited assets in the form of gigaAssets. These synthetic assets are softly pegged to well-known cryptocurrencies, such as ETH and BTC, and get deployed to yielding pools and protocols across DeFi.

Enjoyoors aims to deploy gigaAssets to external protocols that pay yield on staking or lending. This approach aligns well with the rising competition for liquidity across the DeFi space. More restaking protocols enable various ERC-20 tokens for staking in their pools besides traditional liquid wrappers of staked ETH or other base currencies. Relevant examples are Symbiotic or Karak here. Even conservative EigenLayer was testing permissionless ERC-20 token support recently (according to the article here)

Enjoyoors aims to maximize potential earnings on top-300 cryptocurrencies by picking protocols with the highest rewards on deployed gigaAssets while neglecting the risk. Indeed, all restaking protocols mentioned above are potential targets as well as other players offering other DeFi services like lending or yield farming. The Enjoyoors protocol transfers a cut of all yield (InsuranceFee) to the Insurance pool. In contrast, the remaining yield lands in Giga CDP and becomes available to users pro rata their stakes in the collateral basket.

Figure 1: How Enjoyoors work at scale

Protocol design introduces robust decentralized mechanisms to guarantee the protocol's security and maintain the value of gigaAssets it issues. This document covers the main principles of the protocol architecture and some details of its implementation.