Exciting news! Enzyme has partnered with OKX Wallet to enable seamless d’app interaction and deposits for all OKX Wallet users.
OKX is a global cryptocurrency spot and derivatives exchange and the second biggest crypto exchange by trading volume, serving over 50 million people globally. Its popular OKX Wallet allows users to store, trade, earn and manage crypto and NFTs across 60+ blockchains — all in one simple solution.
This new wallet integration expands Enzyme’s potential user base by more than 400,000 people daily. Significantly, each OKX Wallet user can now connect to Enzyme to explore DeFi managers, filter by popular vaults and track some of the industry’s leading on-chain strategies.
If you’re an OKX Wallet user and you’re new to the Enzyme ecosystem, read on to learn some of the main highlights of the protocol and identify several ways you can get involved today.
What is Enzyme?
Enzyme is an on-chain asset management system that enables you to access crypto and DeFi from one simple, unified app. It provides a front-to-back execution and order management system and enables you to fully automate reporting, risk management, and operational & administrative requirements.
Enzyme connects with dozens of DeFi protocols and provides access to 220+ digital assets from one platform. This enables managers to run a variety of on-chain asset management strategies, from more complex actively managed strategies to passive indexes.
Managing crypto and DeFi assets without purpose-built smart-contract permissions and controls in place creates operational risks to a business. Enzyme comes with a robust suite of programmable risk management and governance tools to protect your assets:
- Full trade lifecycle support for crypto and DeFi
- Establish trading roles within your organisation and grant smart-contract enforced permissions
- Define individual trading or P&L stop-loss limits which are automatically enforced
- Configurable and automated KYC capability
Moreover, Enzyme maintains sophisticated on-chain data pipelines that ensures data is auditable and trustworthy. This enables a radically new future based on the principles of transparency and auditability.
- A real-time reporting and performance dashboard with key performance and risk metrics
- Verifiable NAV reporting in real time
- Reports that provide easily readable and provable data on all transactions at any point in history
Enzyme’s smart-contract automation lowers asset management expense ratios of funds by more than 80% and brings simplicity to businesses. In short, Enzyme is a unified solution for the on-chain asset management economy.
How Can OKX Wallet Users Deposit in Enzyme Vaults?
If you’re wondering how you can get involved in the Enzyme ecosystem, below we explore two of the most popular vaults on the platform. Both Diva Staking and Swell Network are rewarding users who deposit stETH into vaults to help decentralise the Ethereum liquid staking ecosystem and earn additional rewards on top of staking yields.
These vaults are open to all OKX Wallet users that are not based in the United States. For further information or queries, please follow up with each team directly.
Vault Showcase 1: Diva’s Early Stakers Initiative
While Diva Staking is pre-launch, its novel DVT is positioning it to become a “killer app” in the staking ecosystem, building the most decentralised and resilient validator set as it allows anyone to run a validator node from only 1 ETH. This is extremely important, as the $16B Liquid Staking market is currently dominated by Lido’s 85%+ share. The Early Stakers Initiative is designed to accelerate the transition to a more decentralised and balanced ecosystem.
Here’s how it works.
Early stakers can deposit ETH or stETH. There are 2 separate vaults, one for each denomination. A single staker can deposit a min of 0.1 ETH and a maximum of 10,000 ETH. Enzyme vaults are fully non-custodial, meaning depositors have full control of their funds and can withdraw at any time after an initial 24-hour lock-up period.
As a reward for staking your ETH or stETH with Diva, users will accrue DIVA tokens which will be calculated retrospectively based on both the quantity of tokens staked and the amount of time a user has staked in the vault.
At the end of the initiative, all stETH will be unstaked natively and the WETH from both vaults will be swapped into divETH. Users will then be airdropped DIVA tokens based on the criteria mentioned above.
The table below shows how each phase of the initiative will work.
For further information, please visit our full announcement here.
Vault Showcase 2: Swell’s Super swETH Initiative
Additionally, OKX Wallet users that hold stETH can participate in Swell Network’s Super swETH initiative. As a bonus for participating in the program, users can earn boosted yield from staking rewards, redirected Swell DAO commission and Pearls for the upcoming $SWELL Voyage airdrop.
By depositing stETH, OKX Wallet users are helping to decentralise the Ethereum liquid staking ecosystem and earn additional rewards above and beyond what is rewarded when staking with Lido. In this model, stETH deposited into Swell’s vault will eventually be unstaked and swapped into swETH, which is Swell’s native liquid staking token.
The earlier you deposit, the faster you earn Pearls. Deposits before 10k stETH AUM lock in 3x Pearls, while deposits after 50K earn 1.5x Pearls. Note that Pearl rewards will be redeemable for SWELL tokens at the end of the Voyage.
If you are interested in participating in Swell’s Super swETH initiative, then follow the steps below. For any queries please contact the Swell team via their Discord.
How to deposit in the Super swETH Vault
Follow these steps to deposit your stETH or ETH into the Vault.
1. Navigate to the Vault and click on ‘Deposit stETH’.
This will direct you to the Super swETH Vault on Enzyme.
2. Connect your wallet and click on ‘Deposit’ in the top right corner.
Once you connect your wallet, you will be required to sign the special signature prior to depositing in the Vault.
3. Deposit in the Super swETH Vault.
You can deposit ETH or stETH directly into the Vault. ETH deposits are swapped to stETH via a DEX.
Simply accept the terms and conditions, approve stETH, and deposit. stETH deposited in the vault is unstaked from Lido and swapped into swETH.
4. Optional: Import Super swETH’s custom token to your wallet.
Super swETH (ERC20): 0x325a0e5c84b4d961b19161956f57ae8ba5bb3c26
5. After seven days you may withdraw your funds by clicking redeem.
Please note that there is a 1% charge for exiting to swETH before the 180 day period finishes, and a 2% charge for exiting to stETH. Fees do not apply when the vault has matured in April 2024.
Interested in launching your own vault? 🚀
With Enzyme’s v4 Sulu, it’s never been easier for managers to create custom on-chain asset management strategies and access dozens of DeFi d’Apps and 220+ digital assets in one simple, trustless and efficient platform.
At Avantgarde, we help institutional investors and crypto-natives get exposure to DeFi investment opportunities. Get in touch to learn more.
For business enquiries: luca@avantgarde.finance
For marketing enquiries: conor@avantgarde.finance
For support enquiries: support@avantgarde.finance
