Frequently Asked Questions

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General

Fees, Performance & Accounting

Security & Access

Asset Universe & Integrations

DAOs

Other

General

What is Enzyme?

Enzyme Finance is a decentralized platform built on Ethereum with a deployment on Polygon. It offers users a range of tools for managing DeFi assets and increasing transparency. With a user-friendly interface that simplifies the process of interacting with smart contracts, Enzyme aims to make DeFi more accessible to all.

What are the benefits of using Enzyme app?

Enzyme Finance offers numerous advantages to both Asset Managers and Depositors. They can take advantage of a suite of tools for DeFi and asset management, benefit from increased efficiency and convenience through a user-friendly interface, and enjoy enhanced transparency and security through deployment on both Ethereum and Polygon networks.

With Enzyme, Asset Managers can easily manage their funds using a single interface that leverages the DeFi ecosystem. They can participate in various strategies such as lending, borrowing, staking, swapping, and governance, among others. On the other hand, Depositors can entrust the research and building of the best trading strategies to the experts while maintaining full custody of their funds, thereby freeing themselves from the day-to-day hassle.

How do I get started with Enzyme app?

Setting up a vault is a straightforward process that can be completed in just a few simple steps:

1. Head to https://app.enzyme.finance/ and connect your wallet, ensuring that you are on the correct Ethereum or Polygon network.
2. Locate the "Create a vault" button in the left-hand menu and click on it.
3. Select the type of vault you wish to create and follow the seven steps provided to configure your vault.

That's it! The process is quite simple, and you can refer to this link for more information on the steps involved.

What features does Enzyme app have?

Enzyme Finance provides a range of features that are designed to help users make the most of the DeFi ecosystem. These features include:

- Swaps
- Lending
- Borrowing
- Staking
- Governance Delegation
- Access to 24/7 NAV
- Activity log with all transactions
- API to connect on-chain activity with off-chain tools
- Fiat on-ramp, allowing you to easily buy cryptocurrencies using traditional currencies.

Overall, these features are designed to provide users with a comprehensive suite of tools for managing their assets in a secure, transparent and efficient manner within the DeFi ecosystem.

How does Enzyme handle user feedback?

As an Enzyme Finance user, it's important to us that we actively listen to your feedback and respond promptly. We prioritize your feedback based on its impact on the user experience, and we are transparent about our progress in addressing your concerns. We use your feedback to improve our platform and appreciate your input in making Enzyme Finance the best it can be for all our users.

What is $MLN and what is it used for?

$MLN is the ticker symbol for the Enzyme token, which is the native cryptocurrency of the Enzyme platform. The Enzyme token is an ERC-20 utility token and is used by Enzyme users to get a 50% discount on the protocol fee buyback.

Can I use Enzyme to participate in DeFi protocols?

Yes, you can use Enzyme to participate in DeFi. Enzyme is a decentralized asset management platform that allows users to create and manage investment vaults on Ethereum and Polygon. The platform aggregates a variety of DeFi protocols and assets, including Compound, Aave, Uniswap, Balancer, Curve and many others.

As a user of Enzyme, you can deposit your assets into an Enzyme vault, which is managed by a vault manager. The vault manager can then utilize those assets in different DeFi protocols, generating yield for the vault and its depositors.

Overall, Enzyme provides a convenient and secure way to participate in DeFi by allowing you to easily manage your assets and invest in different protocols through a single platform while keeping custody of your funds.

What is the process for proposal submissions on Enzyme?

The process for submitting proposals and voting on Enzyme is through the Enzyme Improvement Proposal (ENZIP) repository on GitHub. ENZIPs are used to suggest improvements, feature requests, and other potential changes to the Enzyme protocol.

Anyone is welcome to contribute and submit ideas or participate in discussions. Once an ENZIP is published, it is shared in the ecosystem to start discussions. The goal is to gather all relevant ideas and feature requests in one place and start a discussion between different stakeholders in the community.

You can submit your ENZIP here.

How does Enzyme compare to other DeFi platforms?

Certainly! Enzyme Finance can be seen as a DeFi aggregator, acting as a "one-stop-shop" for asset managers to benefit from the various DeFi protocols in one place, while still enjoying the security, transparency, and self-custody that the DeFi space provides. It can also be thought of as a DeFi operating system, providing a unified infrastructure for asset management on the blockchain. In comparison to other DeFi platforms, Enzyme's unique approach aims to simplify asset management in DeFi by providing a user-friendly, secure, and customizable platform that allows users to access multiple protocols at once. This approach can make it easier for users to navigate the often complex and rapidly evolving DeFi landscape, while still providing the benefits of decentralized finance.

Can I use Enzyme on mobile?

While the Enzyme team's main focus is maintaining the web application, users can access the app on their mobile devices by simply going to app.enzyme.finance. The site is also designed to be responsive and optimized for mobile use. Although the Enzyme team does not currently offer a dedicated mobile app, they place great importance on user experience and strive to provide a seamless and user-friendly experience for all Enzyme users, regardless of the device they are using.

How is Enzyme addressing scalability issues in DeFi?

Enzyme is taking a multi-faceted approach to address scalability issues in DeFi. To start, Enzyme is built on top of the Ethereum network, which is currently working on enhancing its scalability through various solutions such as Ethereum 2.0. This upgrade aims to expand network capacity and reduce gas fees. Enzyme is also integrating with layer 2 scaling solutions like Polygon, enabling quicker and more cost-effective transactions on its platform. This not only provides users with more options to access DeFi protocols, but also reduces reliance on a single blockchain.

Furthermore, Enzyme recognizes the importance of continuous improvement and is consistently working on optimizing its codebase and infrastructure to improve platform performance and efficiency. In addition, Enzyme is keeping a close eye on the latest developments and conducting research to ensure the platform remains at the forefront of advancements in DeFi, for the benefit of its users.

How is Enzyme contributing to the DeFi ecosystem?

Enzyme is contributing to the DeFi ecosystem in several ways. Firstly, it acts as a DeFi aggregator, allowing users to access a variety of decentralized protocols and services all in one place. Enzyme also offers a unique value proposition by providing professional-grade asset management tools and services to individual users, businesses, and DAOs.

In addition, Enzyme is actively collaborating with other projects and developers in the DeFi space to drive innovation and promote the growth of the ecosystem. For example, Enzyme has integrated with various DeFi protocols such as Uniswap v2, Uniswap v3, Curve, Paraswap, and 0x to provide users with access to a wide range of assets and liquidity.

Overall, Enzyme is playing an important role in the DeFi ecosystem by providing users with a comprehensive and efficient asset management solution and contributing to the growth and development of the broader DeFi space.

Can I use Enzyme to manage multiple portfolios?

Yes, Enzyme allows users to manage multiple portfolios through its vault system. Each vault is a separate portfolio with its own unique strategy, asset allocation, and investment goals. Users can create multiple vaults and customize each one according to their preferences.

Enzyme also provides tools for managing and monitoring these portfolios, including performance metrics and detailed reporting. This makes it easy for users to track the performance of their investments and make informed decisions about how to manage their portfolios over time.

Overall, Enzyme's vault system allows users to manage multiple portfolios efficiently and effectively, with the ability to customize each portfolio to suit their unique investment goals and preferences.

How was Enzyme founded?

The Enzyme Protocol, formerly known as the Melon Protocol, was initially developed by the private company Melonport. Melonport was funded through a token sale, and after the dissolution of the company, the Melon Protocol was transferred to the Enzyme Council. This transition was announced in a blog post titled "Goodbye Melonport, Hello World".

Fees, Performance & Accounting

What are the fees for using Enzyme app?

Enzyme implements an Annualized Protocol Fee, which is charged continuously relative to an annualized target percentage of the Assets Under Management (AUM). The fee is collected by minting additional vault shares to an Enzyme Council owned contract. Initially, the fee is set at 50 bps of AUM but can be bought back by the vault manager for 25 bps, thus reducing the annualized fee.

The Enzyme Council owned shares can be bought back at the equivalent value of $MLN, by the vault manager at 25 bps.

The $MLN is then burned. The “50% discount” encourages the vault manager to take care of this process rather than the Council having to. The protocol fee is charged each time that a fund:

- Receives a deposit
- Have shares redeemed
- Migrates to a new release or reconfigures vault settings without migrating.

A more detailed discussion of the mechanics of the protocol fee can be found here.

How is the Enzyme platform governed?

Enzyme's governance model is centered around user control and protection. Users have permissionless access to a secure asset management protocol, and are safeguarded from malicious actors. The Enzyme Council, which is responsible for making decisions that protect user interests, ensures that users can benefit from continuous innovation and improvements while still maintaining control over the software they use.

Although the Enzyme Technical Council (ETC) owns and controls the ENS subdomains pointing to the latest contracts, users decide which version of the protocol to base their business on. However, it is highly encouraged for users to always use the latest version of the protocol to avoid security vulnerabilities. Ultimately, users have the sole responsibility for choosing and upgrading the software they use, and are encouraged to conduct their own analysis and review of the contracts they intend to use.

You can find read more about the Enzyme Council, here.

How does Enzyme handle taxes for users?

Enzyme is aware of the importance of facilitating the handling of taxes for its users, and as such, its team is actively working on a solution that will be integrated into the app and soon released to the public. The Enzyme team is focused on providing a seamless user experience and ensuring that the needs of its users are met.

How does Enzyme handle gas fees for transactions on Ethereum and Polygon?

Enzyme provides a range of tools and options to help users manage gas fees when transacting on the Ethereum and Polygon networks. Users can choose from different transaction speeds, with options for slow, standard, and fast transaction speeds, allowing them to select the most appropriate speed based on their needs and the prevailing gas fees. Enzyme has also integrated with layer 2 scaling solutions like Polygon, offering faster and cheaper transactions than the Ethereum network, allowing users to transact with lower gas fees and reduce the overall cost of using the Enzyme platform. Moreover, Enzyme provides users with the ability to estimate the gas cost of a transaction before submitting it, which enables them to make informed decisions about the cost of their transactions.

In addition to these tools, Enzyme also provides a detailed breakdown of each transaction, including any slippage or other fees associated with the transaction. This transparency allows users to better understand the costs associated with their trades and make more informed decisions about how to manage their portfolios. Additionally, Enzyme allows users to customize the slippage tolerance for their transactions. By doing so, users can avoid costly failed transactions and minimize the impact of slippage on their trades. Overall, Enzyme's detailed transaction information and customizable slippage settings provide users with a more transparent and user-friendly trading experience.

How many assets can my vault portfolio track?

Enzyme's on-chain vault portfolios are designed to be efficient and cost-effective, which is why there is a limit to the number of assets that can be tracked. Currently, each vault portfolio can track up to 20 assets.

This limit is in place to prevent the platform from becoming overly complex and requiring extensive mathematical calculations for portfolio performance. By setting this limit, Enzyme ensures that users can manage their portfolios efficiently and without incurring excessive gas fees.

While this limit may restrict the number of assets that can be tracked in a single portfolio, Enzyme's platform is designed to be flexible and scalable, allowing users to create multiple portfolios as needed. This allows users to manage a broader range of assets and portfolios, while still maintaining the cost and performance benefits of Enzyme's on-chain platform.

How can I monitor the performance of my funds held in the Enzyme vault?

Enzyme offers several tools for monitoring the performance of your funds held in the Enzyme vault. The platform provides real-time performance metrics, allowing you to track the value of your portfolio and monitor its growth over time.

You can view detailed information about your investments, including the value of your holdings, historical performance, and any fees or expenses associated with your investments.

Additionally, Enzyme provides transparency and accountability through on-chain data and smart contract audits. Users can view the code and logic of the smart contracts utilized by the platform, ensuring that the investment process is transparent and secure.

Overall, Enzyme not only offers a comprehensive set of tools for monitoring the performance of your funds but also reinforces its transparency. These tools allow you to stay informed about the value and growth of your portfolio and make informed decisions about your investments.

Are there any tools available to help me track the performance of my funds in real-time?

Enzyme provides users with a variety of tracking tools that allow investors to monitor the performance of their funds in real-time. These include key vault performance metrics such as Gross Asset Value (GAV), Net Asset Value (NAV), Share Supply, Share Price, and a range of return metrics such as Return Month-to-Date, Return Quarter-to-Date, Return Year-to-Date, Return Inception-to-Date, Average Month, Best Month, Worst Month, Positive Months, and Length of Track Record. Additionally, Enzyme also provides risk metrics such as Annualised Volatility and Sharpe Ratio.

In addition to these performance tracking tools, users can also access their account dashboard to track all their investments in Enzyme. The dashboard provides a comprehensive overview of all investments and an individual activity history. By providing these tools, Enzyme enables users to easily monitor the performance of their funds and make informed decisions about their investments.

Can I access information about the performance of my funds 24/7?

Yes, you can access information about the performance of your funds in Enzyme 24/7 through the Enzyme App. Enzyme provides users with real-time tracking of their funds' performance, which can be accessed at any time through the Enzyme dashboard. Additionally, users can view performance metrics such as Gross Asset Value (GAV), Net Asset Value (NAV), Share Supply, Share Price, Return Metrics, and Risk Metrics (Trailing 30 Days). This information is constantly updated and available for users to view whenever they want, ensuring that they have access to up-to-date information about their investments.

What metrics does Enzyme use to measure the performance of my funds?

Enzyme uses a variety of metrics to measure the performance of your funds. These include Gross Asset Value (GAV), Net Asset Value (NAV), Share Supply, Share Price, Return Metrics such as Return Month-to-Date, Return Quarter-to-Date, Return Year-to-Date, and Return Inception-to-Date. Additionally, Enzyme provides several other performance metrics such as Average Month, Best Month, Worst Month, Positive Months, Length of Track Record, Risk Metrics like Annualized Volatility, and Sharpe Ratio. You can access all these metrics in real-time by checking the financials sections of your vault.

How can I stay informed about any updates or changes that may impact the performance of my funds held in Enzyme?

While Enzyme provides a transparent and secure platform for investing in decentralized finance, it is ultimately the responsibility of depositors to stay informed about the performance of their funds. One way to do this is to maintain communication with the vault manager, if available. Additionally, depositors can monitor the activity of the vault they have deposited and keep up to date with any updates or changes that may impact the performance of their funds by regularly checking their account dashboard and vault profile. By staying informed, depositors can make informed decisions about their investments and maximize their returns.

For more updates and news about Enzyme, depositors can also follow our social media accounts on Telegram, Discord, and Twitter.

How much does it cost to create a Vault?

The cost of creating a vault on Enzyme can vary depending on several factors, including the gas prices on Ethereum and Polygon, as well as the specific configurations you choose for your vault. As a general guideline, the cost can be as little as $20 on Ethereum and $0.3 on Polygon, but this can change depending on the network conditions at the time of creation. It's important to keep in mind that gas prices can fluctuate, so the cost of creating a vault may be higher or lower at different times.

What kind of fees I can add to my vault?

Enzyme allows you to customize several types of fees that can be added to your vault, including entrance fees, exit fees, management fees, and performance fees. These fees can be adjusted and updated at any time using the vault settings.

In addition to these standard fees, Enzyme also provides the Fee Splitter feature, which allows you to split your fees among several different wallets. This feature is useful in a variety of situations, such as shared asset management, commercial partnerships, and distribution networks. To enable the Fee Splitter, reach out to the Enzyme team via email at support@avantgarde.finance.

How is the management fee calculated?

The management fee is an annual fee that accrues whenever a deposit, redemption, or vault reconfiguration occurs, and it is paid in shares. The manager can claim the fee on demand. This fee, like all other fees, ensures alignment of interest between the manager and investors.

How is the performance fee calculated?

Instead of waiting for a fixed crystallization period like on V3, on V4 (Sulu) vault managers can accrue performance fees on a continual basis. This enables them to claim their fees whenever they see fit, as long as the share price is above the high water mark (HWM), and a new HWM is set.

How is the annualized volatility is calculated?

The annualized volatility in Enzyme is calculated by taking the average of the standard deviation of the daily returns for the last 30 days, and then annualizing it by multiplying it with the square root of 365. This method provides a way to estimate the potential risk of an investment in a particular vault over the course of a year, based on its historical performance.

How is the monthly return calculated?

To calculate the monthly return in Enzyme, the following formula is used: (month-end share price - month-beginning share price) / month-beginning share price It's important to note that the hourly ETH values are used for this calculation.

How does the Fee Splitter works?

The Fee Splitter is a smart contract that enables vault owners to distribute fees among multiple wallets based on a specified percentage. Setting up and configuring the Fee Splitter is straightforward, first, it needs to be designated as the fee recipient. After fees are paid out, the eligible wallets can claim their corresponding share of the fees through the splitter. https://app.enzyme.finance/tools/fee-splitter

Security & Access

How secure is Enzyme app?

Enzyme Finance takes security very seriously and has implemented several measures to ensure the safety of user assets. One of these measures is the performance of audits on every single piece of code deployed by the platform. These audits are conducted by Chain Security, a well-known security auditing firm in the blockchain space. Additionally, the latest Enzyme release, Sulu, has been audited by OpenZeppelin, and with public audit reports available on the Enzyme's GitHub page.

To further enhance security, Enzyme also offers a substantial bounty of 400K on Immunefi, a platform that connects security researchers with blockchain projects to help identify vulnerabilities and improve security.

The team responsible for developing and maintaining Enzyme, Avantgarde Finance, has also recently been certified with the ISO-27001 certification. This certification is a globally recognized standard for information security management systems and demonstrates that Avantgarde Finance has implemented a comprehensive security management program that includes a set of policies, procedures, and controls designed to protect the confidentiality, integrity, and availability of user data.

Overall, Enzyme Finance has taken a variety of steps to ensure the security of its platform, including performing code audits, offering a substantial bug bounty, and implementing a comprehensive security management program.

What measures are in place to prevent bad actors’ manipulations on Enzyme?

Enzyme Finance has several measures in place to prevent bad actors from manipulating the platform:

Firstly, the smart contract-enforced policies ensure that depositor funds are safe and that vault managers can only interact with pre-defined adapters and external positions. This prevents unauthorized access and potential malicious actions.

Secondly, Enzyme undergoes regular audits on all of its code, including the smart contracts and frontend code. These audits help to identify any potential vulnerabilities or security issues and ensure that the platform is secure and trustworthy for its users.

Thirdly, Enzyme has a bug bounty program in place through immunefi, with a prize pool of 400K. This incentivizes security researchers and hackers to find and report any vulnerabilities that they discover, which helps to improve the platform's security.

Finally, the lead developer of the Enzyme protocol, Avantgarde Finance, has obtained the ISO 27001 certification. This is a globally recognized standard for information security management, which means that the Enzyme team has implemented rigorous security controls and processes to ensure the confidentiality, integrity, and availability of its information and systems.

In summary, Enzyme Finance has implemented several measures to prevent bad actors from manipulating the platform, including smart contract-enforced policies, regular audits on code and frontend work, a bug bounty program, among others. These measures help to ensure the security and safety of the platform and its users.

How can I access my funds if the app stops working?

In the unlikely event that the app is no longer available, you can access your funds by interacting with the smart contracts on Etherscan or Polygonscan. Enzyme has provided detailed steps on how to do this in their documentation, which you can find at https://docs.enzyme.finance/redeeming-your-investment#redeeming-through-etherscan-or-polygonscan.

By following these steps, you can redeem your investments and withdraw your funds even if the Enzyme app is no longer accessible.

How does Enzyme ensure decentralization and accessibility for its users?

Enzyme employs a number of strategies to ensure decentralization and accessibility for its users. Firstly, Enzyme is built on Ethereum and Polygon, which are both decentralized blockchain networks. This means that Enzyme is not owned or controlled by any single entity, but rather operates on a decentralized network that is maintained by a community of users.

In addition, Enzyme uses smart contracts to manage and execute transactions. Smart contracts are self-executing pieces of code that operate on the blockchain and can be accessed by anyone with an internet connection. This ensures that Enzyme is transparent and accessible to all users, without the need for a centralized intermediary.

Furthermore, Enzyme is an open-source project, which means that the code that powers the platform is publicly available for review and improvement by the community. This enables a more collaborative and decentralized development process, and ensures that Enzyme remains a community-driven platform.

Overall, Enzyme's use of decentralized blockchain networks, smart contracts, and open-source development practices help to ensure decentralization and accessibility for its users, allowing anyone with an internet connection to participate in the platform.

Can users view and verify the smart contracts utilized by Enzyme?

Yes, Enzyme is a decentralized platform built on smart contracts, and the code for these smart contracts is open source and available for public view and verification. Users can access the smart contract code for both the Enzyme vaults and the platform's core protocol on Github.

This open-source approach allows for transparency and decentralization, as anyone can review and audit the code to ensure that it functions as intended and is free of vulnerabilities or backdoors. Additionally, Enzyme has undergone third-party security audits to ensure the integrity and security of the platform and its smart contracts.

This helps to further ensure that the platform is transparent, decentralized, and accessible to all users.

How an opportunistic manager can hide value in an external position?

An opportunistic manager can hide value in an external position, which is a proxy contract that allows the vault to value non-ERC20 assets. The value of these assets is updated with a price feed, but they remain in the external position. The manager can shield value from depositors in external positions. If a depositor attempts to withdraw all their shares, and the vault does not hold enough assets to fulfill the withdrawal, the depositor may forfeit the value held in the external position. Depositors can redeem their shares at any time, making it important for the manager to ensure that there is always sufficient liquidity to fulfill withdrawal requests.

What is the process for making a trade on Enzyme app?

Once you have connected your vault, you can easily perform trades by following these simple steps:

1. Click on the "Swap" option in the left-hand menu.
2. Select the asset that you wish to trade and enter the desired trade amount.
3. Click on the "Trade" button to execute the trade
4. Confirm the details of the transaction and sign it.

And that's it! Your trade will be executed and your portfolio will be updated accordingly.

How do I deposit funds into an Enzyme Vault?

To deposit funds into an Enzyme vault, you can follow these steps:

1. Access the Enzyme Finance app and ensure that you are on the correct network and have selected the appropriate vault that you want to deposit funds into.
2. Connect your wallet to the Enzyme app by clicking on the "Connect Wallet" button and selecting your preferred wallet.
3. Once your wallet is connected, click on the "Deposits" button in the top right corner of your screen.
4. Choose the asset that you wish to deposit and click on the "Deposit" button next to it.
5. Enter the amount that you wish to deposit and review the details of the transaction.
6. Confirm the transaction and sign it through your connected wallet.

After the transaction is confirmed, your funds will be deposited into the Enzyme vault and will be ready for use in various DeFi strategies, such as lending, borrowing, staking, and more.

How do I withdraw funds from an Enzyme Vault?

To withdraw funds from an Enzyme vault, you can follow these steps:

1. Access the Enzyme Finance app and make sure you are on the correct network and have selected the appropriate vault that you want to withdraw funds from.
2. Connect your wallet to the Enzyme app by clicking on the "Connect Wallet" button and selecting your preferred wallet.
3. Once your wallet is connected, click on the "Deposits" option in the left-hand menu.
4. Locate the asset that you want to withdraw and click on the "Withdraw" button next to it.
5. Enter the amount that you wish to withdraw and confirm the details of the transaction.
6. Sign and submit the transaction through your connected wallet.

Once the transaction is confirmed, the funds will be withdrawn from your Enzyme vault and transferred to your wallet. Note that there may be a withdrawal fee depending on the specific asset and withdrawal amount. You can view your withdrawal history and the status of your transactions in the "Transactions" section of the Enzyme app.

What is the process for submitting bug reports and feature requests on Enzyme?

To submit bug reports or feature requests on Enzyme, you can send an email to support@avantgarde.finance with the details of the issue, such as the network, steps to reproduce the problem, and screenshots or videos. Providing as much information as possible will help the team resolve the issue more quickly.

How to get in touch with the Enzyme support team?

The Enzyme support team can be reached through several channels, including Telegram, Discord, Twitter, and personalized support provided by the Avantgarde Finance team via email. You can join the Enzyme Telegram group at **https://t.me/enzymefinance**, the Enzyme Discord server at **https://discord.enzyme.finance/**, or follow Enzyme on Twitter at **https://twitter.com/enzymefinance**.

If you require personalized support, you can reach out to the Avantgarde Finance team at support@avantgarde.finance. The team is available to assist with any questions or issues related to Enzyme, including technical support, bug reports, and feature requests.

Enzyme aims to provide its users with a comprehensive and responsive support system to ensure a smooth and efficient user experience. So, if you need any assistance, do not hesitate to reach out to the Enzyme support team through any of the available channels.

How can I contact Enzyme?

You can contact Enzyme in several ways. You can reach out to the Enzyme team via Telegram: https://t.me/enzymefinance, Discord: https://discord.enzyme.finance/, or Twitter: https://twitter.com/enzymefinance. Additionally, if you need personalized support, you can contact the Avantgarde Finance team at support@avantgarde.finance.

How do I set up a vault with Enzyme?

Creating a vault on Enzyme is a simple and easy process that can be completed in just a few steps.

1, Head to https://app.enzyme.finance/ and connect your wallet, making sure you are on the correct Ethereum or Polygon network.
2. Locate the "Create a vault" button in the left-hand menu and click on it.
3. Select the type of vault you wish to create, such as a basic or yield-generating vault.
4. Follow the seven steps provided to configure your vault, including choosing the denominated asset, setting the fee structure and policies, and configuring roles and permissions.
5. Review your vault configuration and click "Submit" to create your vault.

That's it! The process is straightforward and easy to follow, and you can refer to the Enzyme documentation for more detailed information on each step.

What options are available for customizing my vault setup in Enzyme?

Enzyme offers various options for customizing your vault setup, including:

- Vault denomination asset: You can choose the asset in which your vault is denominated, such as ETH or DAI.
- Fees: You can set fees for your vault, including exit fees, entrance fees, performance fees, and management fees.
- Permitted recipients of secondary market shares transfers: You can choose which addresses are allowed to receive shares in the secondary market.
- Shares lockup period: You can set a lockup period for shares, during which time they cannot be transferred or redeemed.
- Policies: You can set policies that impact the assets held and traded by the vault, such as allowed adapters, allowed external position types, cumulative slippage tolerance, external position removal, and asset position removal.
- Vault ownership: You can transfer ownership of the vault to another address.
- Permitted depositors: You can modify the list of addresses that are allowed to deposit funds into the vault.
- Deposit limits: You can set deposit limits for the vault.

It's important to note that some of these settings can be changed at any time, while others cannot.

Asset Universe & Integrations

What types of assets are supported on Enzyme?

Please note to make sure you are on the correct network before accessing the Enzyme Asset Universe, which can be found at **https://app.enzyme.finance/discover/assets** What is the process for adding new assets to the Enzyme platform?

Can I earn yield on my assets held on my Enzyme Vault?

Enzyme enables vault managers with various ways to earn yield, such as staking, liquidity provision, yield farming, delegating, lending and borrowing.

What is the process for staking ETH on Enzyme?

If you want to stake ETH on Enzyme vault, just follow these steps:

1. Open the Enzyme Finance app and connect your wallet, ensuring that you're on the Ethereum network and the vault that you want to stake ETH on.
2. Once your wallet is connected, go to the left-hand menu and select "Defi protocols", then choose KILN.
3. Click on the three dots and select "Stake WETH". Then, confirm the amount you want to stake and sign the transaction.

Important:

- You can stake any multiple of 32 ETH.
- The only claimable fees at the moment are execution layer fees.

Can I use Enzyme to access decentralized exchanges (DEXs)?

Enzyme can be used to access a variety of decentralized exchanges (DEXs), including Uniswap v2, Uniswap v3, Curve, Paraswap, and 0x. Enzyme serves as a DeFi aggregator, providing users with access to multiple DEXs in one place, while also offering security, transparency, and self-custody features. By using Enzyme, asset managers can optimize their trading strategies across multiple DEXs, without having to use multiple platforms.

Can I use Enzyme to trade futures and options?

As of now, Enzyme does not support trading futures and options. However, the Enzyme team is continuously evaluating and researching potential new features and asset classes to add to the platform in the future. So while it is not currently available, it may be added at a later time. We recommend staying tuned for any updates or announcements regarding new features.

What are the supported wallets for accessing Enzyme?

Enzyme supports a variety of wallets for accessing its platform, including Metamask and any wallet that connects through WalletConnect, which includes hardware wallets like Ledger and Trezor. Additionally, the Coinbase mobile wallet is currently supported, but only on mobile devices. By supporting a wide range of wallets, Enzyme aims to provide its users with greater flexibility and ease of use when accessing its DeFi platform.

What kind of strategies can I use with Enzyme?

Enzyme offers a wide range of investment strategies for vault managers to choose from, including staking, liquidity provision, yield farming, delegating, lending, borrowing, and swaps. These strategies allow managers to optimize their portfolio and earn yield while minimizing risk. Additionally, Enzyme is an aggregator of DeFi protocols, giving managers access to multiple protocols and strategies in one place.

How does asset pricing work in Enzyme?

Enzyme's asset pricing system works by normalizing or canonicalizing all assets to ETH first through the ValueInterpreter. This is because it is not feasible to maintain direct conversions between all asset pairs. Once assets are normalized to ETH, they can be converted to USD using the ETH/USD price. This means that displaying asset prices in ETH involves one less conversion step, as compared to using another currency.

However, if the Chainlink oracle is a USD oracle, there is an additional conversion step required for assets priced in USD. For example, TOKENX/USD pair would need to be converted to TOKENX/ETH via the ETH/USD rate, and then to TOKENX/[your chosen display currency].

What are the requirements to add new assets to the Enzyme Asset Universe?

To add new assets to the Enzyme Asset Universe, there are several requirements that need to be met.

First, the assets need to have a valid onchain price feed and have substantial liquidity within the Enzyme integrated decentralized exchanges (DEXes). Once these criteria are met, the assets need to pass Enzyme's internal security checks to ensure they meet the platform's high standards for safety and security.

After that, the assets will be presented to the Enzyme Council for a vote to be added to the Asset Universe. Only after passing all these steps can an asset be added to the Enzyme Asset Universe.

How to request the addition of a new token?

To request the addition of a new token, you can contact Enzyme through social media or email at support@avantgarde.finance. However, you must ensure that the token meets the Enzyme Asset Universe requirements, including having a valid on-chain price feed and substantial liquidity within Enzyme-integrated DEXs. Additionally, the token must pass Enzyme's internal security checks and be approved by the Enzyme Council.

DAOs

How can I use Enzyme to manage my DAO's funds?

Enzyme offers a secure and flexible platform for managing funds, including those held by DAOs. Setting up a vault for your DAO on Enzyme is easy - start by connecting your DAO's wallet to the platform through supported wallets like MetaMask, Gnosis Safe, or perhaps a Ledger. Once connected, you can create a custom vault and set the necessary parameters, such as the denominated asset, fee structure, policies, and more. You can also configure roles and permissions for other members of your DAO who will be managing the vault.

Enzyme provides a robust platform for managing your DAO's funds, with customizable features and high levels of transparency and security. Check out our user docs for more information on how to connect a Gnosis Safe to Enzyme here.

Does Enzyme support multisig wallets?

Yes, Enzyme supports multisig wallets, including Gnosis Safe, which can be used to manage vaults for organizations. When creating a vault for your DAO, you can connect it to a multisig wallet and set up the necessary permissions and roles for the members of your organization who will be involved in managing the vault. This adds an additional layer of security and decentralization to the management of your funds. You can find more information on how to connect a Gnosis Safe multisig wallet to Enzyme here.

What are the benefits of using Enzyme for managing my DAO's funds?

Enzyme provides several benefits for managing your DAO's funds, including:

- Secure platform: Enzyme provides a highly secure platform for managing funds, with a range of security measures in place to keep funds safe.
- Customizable features: Enzyme allows you to create a vault with the necessary parameters, including denominated asset, fee structure, policies, etc., and you can configure roles and permissions for other members of your DAO.
- Flexibility: With Enzyme, you can manage a variety of assets and investment strategies, giving you the flexibility to tailor your portfolio to meet your specific needs.
- Transparency: Enzyme offers a high level of transparency, with real-time reporting on portfolio activity, performance metrics, and other key metrics.
- Aggregator of DeFi: Enzyme acts as an aggregator of DeFi, providing access to multiple protocols in one place, with multiple investment strategies, making it easier to diversify your portfolio.

Overall, Enzyme provides a powerful and flexible platform for managing your DAO's funds, with a range of customizable features and a high level of security and transparency.

How does Enzyme provide real-time information and reporting on my DAO's funds?

Enzyme provides users with a variety of tracking tools that allow investors to monitor the performance of their funds in real-time. These include key vault performance metrics such as Gross Asset Value (GAV), Net Asset Value (NAV), Share Supply, Share Price, and a range of return metrics such as Return Month-to-Date, Return Quarter-to-Date, Return Year-to-Date, Return Inception-to-Date, Average Month, Best Month, Worst Month, Positive Months, and Length of Track Record. Additionally, Enzyme also provides risk metrics such as Annualised Volatility and Sharpe Ratio.

Additionally, Enzyme's integration with leading decentralized finance protocols allows for seamless access to a range of investment strategies and opportunities, all while maintaining a high level of transparency and security. By leveraging Enzyme's reporting and monitoring tools, you can stay informed and make data-driven decisions to optimize your DAO's investment strategy.

Other

Who develops and maintains the Enzyme App?

Avantgarde Finance leads the development and maintenance of the Enzyme Protocol. Their team of financial engineering experts, who are OGs in the DeFi space, are pioneers in developing professional-grade tooling and services to optimize the asset management experience. Utilizing their expertise in both DeFi and traditional finance, Avantgarde builds core blockchain infrastructure and apps on top of Enzyme, the DeFi operating system. Their goal is to enable individuals, businesses, and DAOs to maximize operational, administrative, and financial efficiency when managing their assets.

What is the Enzyme API and how can I request access to it?

The Enzyme API is a gRPC-based API (see https://grpc.io/).

- We currently provide a Javascript/Typescript client to interact with the API. Other clients (python, go) can be generated.
- The API is currently in alpha mode, i.e. we are actively developing it and we are pushing breaking changes frequently and without notice. Once we come out of alpha mode, we will properly announce and document changes.
- We are very happy to get feedback from all users, either in this discord channel or also through our support email (support@avantgarde.finance)

‍Quick start

- Create an API token in the Enzyme App (https://app.enzyme.finance/account/api-tokens)
- Head over to Buf Studio (online gRPC-API client): (https://studio.buf.build/avantgardefinance/enzyme/enzyme.enzyme.v1alpha)
- Add the target URL: https://api.enzyme.finance/
- Add authorization headers:
- Key: 'Authorization'
- Value: 'Bearer <Your API token here>'
- Select a method
- Fill in request parameters, e.g. vault address

‍API Client

- We provide an API client package that can be used in your Javascript/Typescript projects: https://www.npmjs.com/package/@enzymefinance/api
- Various examples on how to use the API client are available from our Github repo: https://github.com/enzymefinance/sdk/tree/main/examples

‍Documentation

- https://buf.build/avantgardefinance/enzyme/docs/main:enzyme.enzyme.v1alpha

Can I personalize my vault? Is there a Whitelabel solution for vault managers?

Enzyme provides a range of personalization options for vault managers, allowing them to create a customized investment experience for their depositors. This includes the ability to create a stand-alone URL for the vault, as well as the option to customize the theme of the vault to match the branding of the fund manager.

By customizing the theme of the vault, fund managers can create a personalized investment journey for their depositors, enhancing their brand and providing a more professional and cohesive experience for users. This can help to build trust and credibility with depositors, which is especially important in the world of investment management.

Overall, Enzyme's personalization options provide a valuable tool for fund managers looking to create a professional, branded investment experience for their depositors. Whether you're looking to create a customized URL or customize the theme of your vault, Enzyme offers a range of options to help you personalize your vault and enhance your brand as a fund manager.

What is the ValueInterpreter?

The ValueInterpreter is a component of Enzyme protocol responsible for aggregating various "price feeds" that are used to calculate the value of input assets in terms of an output asset. It serves as a central point of aggregation for these feeds, which are an additional type of plugin managed by the Enzyme Council.

The Enzyme protocol distinguishes two categories of assets: "primitives" and "derivatives." Primitives are assets for which there are direct rates via Chainlink aggregators that can be used to convert one primitive to any other. Examples of primitives include WETH, ZRX, etc. Derivatives, on the other hand, are assets for which there are only rates in terms of underlying assets. Examples of derivatives include Chai, Compound cTokens, Uniswap pool tokens, etc.

The ValueInterpreter determines whether an asset is a primitive or a derivative and executes the corresponding logic to use the appropriate price feed(s) to calculate the value of input assets in terms of the output asset.

How much AUM does a vault need to have to appear in top gainers?

Vaults should hold at least the equivalent of 1 ETH in AUM to appear in top gainers.

How to bypass the Set Cumulative Slippage Tolerance?

1 - Go to Settings > Policies.
2 - Under Active Policies, enable the "Asset Bypass" button for Cumulative Slippage Tolerance.
3 - From the dropdown list, select the asset you want to bypass (e.g., "RARI").
4 - Click "Submit" to confirm the selection.
5 - Wait for 7 days.
6 - After the 7-day period, you'll have a 48-hour window to trade out your RARI.

Make sure to complete the trade within the 48-hour window. If you miss it, you'll need to repeat the process.

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Enzyme is an on-chain asset management system that enables access to digital assets and DeFi from one simple, unified app. It provides a front-to-back execution and order management system, enabling automated reporting, risk management, administration, governance and operations.

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