What is ENKI? Recent News, Fundraising and Token

Author: Liquidity.Land

Last updated: October 22, 2025

3 min read

ENKI

First LST protocol on @MetisL2 and all of Layer 2 🥇 Seamlessly Stake Metis, Earn Rewards, and Embrace DeFi with ENKI Protocol 🌿 https://t.co/FDSfHSg4OQ

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Key Takeaways

ENKI is the first liquidity staking derivative (LSD) protocol on the Metis Layer 2 blockchain, allowing users to stake METIS tokens to earn yields while maintaining liquidity (source: official Medium articles and X posts from @ENKIProtocol).
The protocol supports decentralized sequencer nodes on Metis, enhancing network security and efficiency through staking mechanisms (source: ENKI's Medium post on ENKI Simplified).
ENKI features a native token $ENKI used for governance, rewards, and ecosystem incentives, with ongoing distributions and high APR yields for stakers (source: recent X posts and CoinGecko listings).

What is ENKI?

ENKI is a decentralized finance (DeFi) protocol built on the Metis Layer 2 blockchain, functioning as the first and largest liquidity staking protocol that enables users to stake METIS tokens and receive liquid staking derivatives like eMETIS and seMETIS, which can be used in other DeFi applications while earning rewards (source: official Medium article "Detailed explanation of ENKI, the first LSD platform on Metis" and ENKI's X profile bio).

How Does ENKI Work?

ENKI operates by allowing users to stake their METIS tokens on the platform, which contributes to running sequencer nodes on the Metis blockchain for transaction verification and network security. In return, stakers receive eMETIS (a liquid token representing staked METIS) that can be further staked as seMETIS to earn additional yields from node operations and protocol rewards (source: ENKI's Medium post "ENKI Simplified in 125 words" and roadmap updates on X).

The workflow involves users locking METIS via the ENKI interface, minting eMETIS for liquidity, and participating in weekly distributions of rewards, with current APRs around 83-84% as powered by Metis' decentralized sequencers (source: recent X posts from @ENKIProtocol dated October 2025).

What Makes ENKI Unique?

As the inaugural LSD platform on Metis, ENKI provides composability with other DeFi apps on the network, allowing staked assets to be used across protocols without losing liquidity (source: Gate.com article "Detailed explanation of ENKI, the first LSD platform on Metis").
It integrates directly with Metis' decentralized sequencers, offering real yields from node operations rather than relying on external validators, enhancing security and efficiency (source: ENKI's X post on ENKI's Edge as an LSD).
ENKI emphasizes community participation through campaigns, airdrops, and testnet phases, fostering engagement and rewarding early adopters with $ENKI tokens and NFTs (source: Medium post "The ENKI Fantasy: Genesis Plan").

ENKI Native Token

The $ENKI token serves as the governance and utility token for the ENKI protocol, enabling holders to participate in decision-making, claim rewards from staking campaigns, and access ecosystem incentives like airdrops and NFT distributions (source: Medium post "$ENKI Token Launch Plan" and tokenomics update on X).

TGE Information

The $ENKI Token Generation Event occurred with a claim date announced on April 9, 2024, following testnet phases and community campaigns. The launch included a total supply allocation for liquidity, staking rewards, and airdrops to early participants. Tokenomics details were shared in the Fantasy Phase One update, emphasizing fair distribution and ecosystem growth (source: Medium posts "$ENKI Token Launch Plan" and "Fantasy Phase One Update").