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Enso Finance Raises $5m to Enable Composable Trading Strategies and Social Trading in DeFi

Place/Date: - April 13th, 2021 at 2:00 pm UTC · 3 min read
Contact: Enso, Source: Enso

Enso finance, a strategy-creation platform offering anyone to create composable and permissionless strategies, has completed its private fundraising round co-led by Polychain Capital and Dfinity Beacon Fund. Multicoin Capital, P2P Capital, Spartan Group, Zola Global, and The LAO participated in the round as well, alongside angel investors from AngelList, Dfinity, Synthetix, Status, Fantom, Nexus Mutual, Aave and Messari. These funds will be used to fund platform development, community expansion, and a successful mainnet launch in Q2 2021.

Enso was created as a tool to simplify and create solutions to increase access to DeFi strategies and to enable frictionless trading. With over $50 billion locked in DeFi, the trading landscape has become highly fragmented, making it more complex to trade efficiently, hedge accordingly, or generate yield effectively.

Enso solves this by giving traders a unified trading platform with native social trading, allowing them to create or discover composable strategies. Traders can also create metastrategies by subscribing to – or follow – other traders or combining strategies together. Once they find a strategy they like, traders can invest in the strategy directly, or by way of the creator’s token.  Traders can also invest into multi-signature syndicates or decentralized autonomous organizations (DAOs) that run strategies.

Connor Howe, co-founder of Enso, said:

“Composability is one of the unique aspects that makes DeFi magical. With Enso we’re lowering the barrier to capturing composability by gathering all of the major decentralized finance platforms and making it simple to follow the best traders who use these platforms, or create novel strategies between them.”

Strategies on Enso are open, permissionless and composable, unifying the DeFi ecosystem into a single, social trading experience and representing it as tradable tokens. Traders using Enso can batch purchase assets on AMMs, yield farm, liquidity mine, rebalance based on tolerance bands, restructure debt, execute flash swaps, or run arbitrage trades.

Spencer Applebaum, associate at Multicoin capital:

“We’re extremely excited to back Connor, Gorazd, and the rest of the Enso team as they work to open up DeFi asset management by removing whitelists and curation, and enabling composability with all DeFi networks,” said Spencer Applebaum, Multicoin Capital. While other platforms focus on either active or curated passive strategies, Enso is fully customizable and enables anyone to become a fund manager with the click of a button.”

About Enso

Enso is the first social trading platform for decentralized finance. The Enso mainnet is scheduled to launch on Ethereum in the coming months, with multi-chain support to follow. To learn more about Enso Finance, please visit enso.finance. To get involved with the Enso community, follow Enso on Twitter, join the Discord, or Telegram.

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