@ENKIProtocol

ENKI Protocol is a liquid staking token (LST) platform on Metis L2, claiming to be the first LST protocol on any Layer 2.

Users stake METIS to receive eMETIS, which can be further staked as seMETIS to earn sequencer rewards with APRs ranging from 20-30%.

The protocol has distributed over 9,000 eMETIS in rewards and reports being a top 5 protocol by TVL on Metis.

While technically sound with a working mainnet product, the project is no longer early-stage—it has nearly 90k followers, launched in mid-2023 (almost 3 years ago), and is already established within the Metis ecosystem.

Green flags: Live mainnet product with consistent weekly reward distributions · Clear technical differentiation as first LST on Metis L2 · Transparent tokenomics with 90% rewards to stakers, auditable on-chain activity · Tangible metrics: 110k+ eMETIS minted, top 5 TVL on Metis

Red flags: Already established: 89.9k followers, nearly 3 years old (July 2023), recognized as top protocol on Metis · Low recent engagement (avg 5 interactions) suggests saturation or declining interest · Limited to Metis L2 ecosystem which itself is relatively niche