Enso is a decentralized Layer 1 network designed to simplify smart contract interactions across various blockchains, rollups, and appchains. It serves as a coordination layer that connects contracts from different environments, enabling developers to build applications across diverse ecosystems without the complexities typically associated with multi-chain development.
At its foundation, Enso operates on two core concepts: Intents and Actions. Intents allow users or developers to express a desired outcome, such as sending assets or executing a swap, without needing to specify every granular operational detail.
Actions, on the other hand, represent the discrete steps required to achieve those outcomes, like transferring tokens or staking them. The Enso network intelligently matches the appropriate Actions to an Intent and executes them efficiently. By abstracting complex blockchain operations into intent-based requests, Enso aims to enhance the accessibility and consistency of decentralized development.
How Enso Works
Enso utilizes a shared network state, which functions as a comprehensive data repository for contract information aggregated from multiple blockchains and rollups. This unified data source provides developers with a single, consistent environment to work in, eliminating the need for managing separate integrations for each individual blockchain.
Each contract is represented as an entity containing all the necessary information to generate executable bytecode, the low-level code that blockchains use to process operations. These entities are also associated with their respective chain IDs, enabling the network to precisely identify the location of each contract.
For instance, Aave's lending protocol on Ethereum would be stored as an entity with a "Lend" action type. When a developer intends to interact with lending protocols across multiple networks, Enso can retrieve the required components from its shared state and generate the appropriate bytecode for that specific request. This methodology transforms multi-chain interactions into standardized building blocks, thereby simplifying the development process.
Network Participants
Enso's architecture is supported by four primary participants, each fulfilling a distinct role in the network's operation:
Consumers
These are the users or developers who submit intents to the network. They articulate the desired result, such as a swap or a lending operation, and delegate the execution process to the network itself.
Action Providers
Developers who contribute reusable smart contract modules, known as Actions. These modules define the mechanics of specific blockchain operations and can be combined to satisfy a wide array of intents.
Graphers
Participants responsible for navigating the shared state to identify and connect the relevant Actions. They are tasked with producing optimized, executable bytecode specifically tailored to fulfill user requests.
Validators
Nodes that perform the crucial function of verifying proposed solutions. They rigorously test the generated bytecode across various chain states to ensure its safety and correctness, ultimately selecting the most reliable execution path.
The typical Enso workflow involves the following steps:
- Intent creation: A user submits an intent, outlining a desired outcome such as a swap or lending operation, without specifying the precise execution method.
- Action contribution: Action Providers supply reusable abstractions (actions) that detail how operations like swaps or deposits should be handled.
- Pathfinding: Graphers analyze the shared state to assemble the appropriate Actions and generate bytecode that efficiently fulfills the intent.
- Validation: Validators test the bytecode on forked chain states to confirm secure and accurate execution.
- Solution selection: All valid solutions are evaluated, and the one offering the optimal results at the lowest cost is chosen.
- Execution: The selected solution is presented to the user for execution. Fees embedded within the bytecode are distributed through an auction system and shared among Graphers, Validators, and Action Providers in ENSO tokens.
Use Cases
Enso's capabilities can be integrated into a broad spectrum of DeFi applications that involve liquidity, asset management, or automation. These include:
- •DEXs and aggregators: Enso can simplify liquidity provision through streamlined zaps, empowering users to adjust positions and enhance overall efficiency.
- •Wallets: Wallets can leverage Enso to offer enhanced swap functionalities, cross-chain transfers, and direct access to yield-generating opportunities while maintaining active asset utilization.
- •Stablecoins: Development teams can mint assets from a singular origin point and facilitate secure bridging across networks, enabling the creation of yield-bearing stablecoins without the need for deploying multiple contract instances.
- •Vault deposits: Platforms can accept deposits in any token and simplify vault transitions, ensuring capital remains within their ecosystem and fostering increased participation.
- •Market makers: Enso can automate market-making tasks, arbitrage strategies, and liquidity rebalancing, thereby improving capital efficiency through automated adjustments.
What is the ENSO Token?
ENSO is the native token of the protocol, featuring a capped supply of 127,339,703 tokens. It operates under a controlled inflation model that gradually decreases over time, ceasing entirely after ten years. The ENSO token serves multiple critical functions within the network:
- •Governance: Token holders have the ability to stake ENSO to participate in voting on protocol upgrades and improvements. Votes themselves do not accrue staking rewards, and proposals require a quorum to be successfully passed.
- •Security: ENSO can be staked to bolster validation efforts and maintain the network's security. Validators employ a Proof of Stake model and utilize simulation tools to confirm the accuracy of their operations.
- •Delegation: Holders have the option to delegate their staked ENSO to Validators, in return receiving a portion of the validation revenue. This allows for participation without the necessity of managing infrastructure.
Conclusion
Enso is engineered to streamline the process by which developers create and interconnect applications across multiple blockchains. Through its intent-based request system and a shared network state, users can simply articulate their desired outcomes, while the network intelligently determines the most effective method for their realization. By unifying Action Providers, Graphers, and Validators, the protocol generates and verifies bytecode on-chain, thereby reducing manual intervention and enhancing interoperability between smart contracts across different networks.
