FLR Finance ~ Enosys
We are excited to provide further information on our rebranding from FLR Finance to Ēnosys. This change results from careful consideration and strategic planning to strengthen our position in the blockchain space and better reflect our values and mission.
The name Ēnosys is derived from the Greek word Henosis for “union” or “oneness,” which is a fitting name for a decentralized finance platform like ours focused on bringing together various blockchain communities.
As our whitepaper outlines, our mission is to empower individuals and businesses with access to DeFi products and services. We have established ourselves as a leading DeFi platform on the Songbird Network, offering secure and efficient solutions for our users. Still, our vision has grown beyond what we had initially envisioned for the Flare family of Networks.
We believe that blockchain technology can potentially transform the world of finance by removing barriers and creating a more inclusive and equitable financial system. However, we also recognize that the blockchain community is fragmented, with different projects, protocols, and communities working in isolation. The key to unlocking the full potential of blockchain lies in unifying these communities and creating a more integrated ecosystem.
The vision of FLR Finance started around the concept of using the APY Cloud to unify a family of products, creating a comprehensive DeFi suite under one governance body. As we have grown through our experience on the Songbird Network, we realized that the APY Cloud could, and should, also be used to unify a family of blockchains, thereby creating an interconnected constellation of DeFi products, all accessible from one platform and all linked to a single yield aggregator and governance system.
To facilitate this goal, we intend to utilize Ēnosys Bridge (formerly FLRWrap) to connect as many chains as we can, especially those currently underserved by developers. We will launch as much of our product suite as possible on these chains but without the apparent industry standard of launching a new token for each network. Instead, we will bridge incentives from the system's core on the Flare Network, sending our primary governance token out to gather new fees to be aggregated for governance stakers in Ēnosys on Flare. This will create diversified yield generation that is robust against single points of low throughput, be it on a product or blockchain level.
We are also renaming our planned mainnet governance tokens to further emphasize this change in goals.
Under Ēnosys, our secondary governance token will no longer be YFLR but will be called Helion ($HLN). Helion carries two definitions that work together to capture the token's purpose and the vision of the ecosystem it governs. First, Helions are generated during stellar fusion as a byproduct of one of the highest energy-producing processes we know of. In astronomy, Helion refers to an orbit in which the Sun is the primary body. Combining these two definitions produces a token concept focused on a close-to-home orbit and utility within the system, an excellent fit for our secondary governance token utility.
Likewise, YFIN will receive a new name — Apsis ($APS). In astronomy, the Apsis of an elliptical orbit is defined as the nearest or farthest point from the primary body. This is a near-perfect description of the movement we envision for our Primary governance token. We will not mint fresh governance tokens as we expand our ecosystem outward to new networks. Instead, a portion of the existing Apsis token will be wrapped into these new networks for initial liquidity bootstrapping incentives. However, for Apsis to be used in governance and the APYCloud, it will have to orbit back to the primary body, the Flare Network, bringing with it the accumulated fees to be added to the APYCloud.
Tokens on the Songbird Network (EXFI, SFIN) will remain unchanged.
The names of the products that fall under the Ēnosys banner will also be changing. We want the product names to be descriptive and recognizable so that new users can quickly identify which products and services they can access. As such, the names will be changed as follows:
FLRX > Ēnosys DEX
Enables users to swap currencies and earn passive income providing liquidity.
FLRFarm > Ēnosys Farms
A user-governed token Launchpad geared towards giving holders a chance to support projects hoping to build in and around the Networks Ecosystem.
FLRLoans > Ēnosys Loans
Allows users to leverage their crypto assets as collateral to mint another currency.
FLRDrops > Ēnosys Gallery
Multi-Chain, Curator-centric Digital Art Marketplace and Auction House.
FLRWrap > Ēnosys Bridge
Allows users to move their assets from one network to a different supported network.
FLRMutual > Ēnosys Mutual
Allows users to insure their holdings in a decentralized way.
FLRGov > Ēnosys Governance
Stake governance tokens to influence the platform’s future and earn yield from APYCloud.
DeFi Oracles, Skopos, Clover, Ermis, and APY Cloud will remain as currently named.
These changes will happen gradually as we update the UI of the platform. Thank you all in advance for your patience; we can’t wait to build this future together with our community!