Ender Protocol is a decentralized liquid staking protocol that allows users to mint a concentrated yield token and liquid staking power token, END, that is fully collateralized by liquid staking rewards from the bond deposits of the Ender Bond.
In addition to the concentrated yield, the tokens are able to act as liquidity provision tokens or allocation tokens, that can control the protocol liquidity of the liquid staking tokens, to various other protocols and yield sources like strategies.
Ender Protocol is non-custodial, will strive to reach an end goal of being fully immutable, and censorship-resistant.
How do I use the Ender Protocol?
To create a new bond, stake, or vote on governance proposals, head over to the Ender Protocol interface and connect a Web3 wallet. Be aware that each transaction on Ethereum costs Ether (ETH). For a more detailed walkthrough, check out our Help Guides.
If you're a developer interested in building on top of the Ender Protocol, please refer to our extensive docs.
How does the Ender Protocol work?
Ender Protocol is a liquid staking platform and protocol. In practical terms, it is a collection of smart contracts that define a standard way to deposit collateral, mint END, and providing yield liquidity.
A bond is where you lock in assets deposited into the protocol for a fixed maturity period, and are rewarded with a yield token backed by the deposit returns.
For a more in-depth description, check out the concepts from the documentation.
What are the benefits of using Ender Protocol?
Ender offers a capital-efficient staking experience with:
A concentrated yield of liquid staking rewards up to 120% APR vs the normal yield of staking ETH
Ability to deposit multiple collateral types
Fully redeemable - upon the bond maturity period, the original principal deposit is fully redeemable from the protocol on top of the rewards earned through the protocol
Bondholders earn fees from the trading and rebasing of the END token
Ender Protocol is also attractive to LST issuers as veENDR holders are incentivized to mint END with their own LST, along with redirecting emissions to specific LSTs on Ender Protocol.
What is boost?
Vote locking is a feature on Ender Protocol where ENDR is locked in return for veENDR. The longer the time period that ENDR is locked for, the more veENDRs are received. The minimum locking period is 1 week and the maximum period is 52 weeks.
One of the major incentives of vote-locking ENDR is the ability to boost your ENDR emissions. This means that a vault with "max boost" earns ENDR rewards at 2x the rate of a vault that is un-boosted.