Nik Christodoulakis, CEO Ēnosys

Written by Jillian Godsil of

September 1, 2023

The CEO of Ēnosys, Nik Christodoulakis, has spent the majority of his career working in startups, initially in traditional finance and later on in the medical and hospital space.

There are now almost 40 people working at Ēnosys, and while the company and branding has changed over the past three years, the main thrust of solving problems remains – only now on a bigger scale with a more structured approach. Ēnosys endeavors to use academic research to fast track the learning as well as challenge and optimally prove every single assumption made.

“We’re pretty much a research and software development center and we’re building this SuperApp – the Ēnosys ecosystem - which means oneness. We can see that the crypto space has broken down into silos and we want to bring everything under one umbrella so we can solve the problems together,” says Christodoulakis.

Today Ēnosys has three main aspects. The first part is the SuperApp which is an ecosystem of products including multi-sig wallets, API and other infrastructure. The second part is to offer DeFi with five to six products. And the third component offers an NFT marketplace to connect digital assets with real world products.

Ēnosys has been building with Flare since the very beginning. Christodoulakis has not found another layer one blockchain its equal.

“I don’t think any other blockchain can combine the utilities of Flare – it is fast and secure with an endless list of new products, such as FAssets, LayerCake and more, coming down the track, I don’t think anyone else simply has that kind of value proposition.”

There are currently 12 products live on the Ēnosys SuperApp running on the Canary network on Songbird. The NFT marketplace is also up and running, allowing people to redeem physical items via NFTs. Currently, there are approximately 210,000 people holding Ēnosys tokens, with $19 million held in total value and the DEX listed within the top 100 DEXs in the world. It has just recently launched on the Flare mainnet as well.

The current projects include:

  1. DEX: Swap currencies and earn rewards by providing liquidity for on-chain trading while taking advantage of delegation rewards and FlareDrops.
  2. Loans: A decentralized borrowing protocol for interest-free loans, utilizing integrated cryptocurrencies as collateral for seamless borrowing.
  3. Farms: Non-custodial yield farming and token launchpad with integrated delegation rewards and FlareDrops.
  4. Bridge: Cross-chain asset bridge. It aims to allow diverse blockchains to communicate with each other.
  5. Gallery: Multi-Chain, Curator centric Digital Art Marketplace and Auction House.
  6. Ermis: On-chain redemption protocol that bridges digital art to its physical counterpart.
  7. Clover: A fair distribution protocol designed for companies to create private events and fair, transparent marketing campaigns.
  8. Skopos: A suite of web2 tools designed to analyze and index EVM blockchain data, enabling effortless querying of custom datasets via user-friendly API calls.
  9. DeFi Oracles: Songbird & Flare Network Data Provider. Wrap and Delegate WSGB or WFLR to earn rewards from the network.
  10. Oryy: Multi-Signature self custody vaults. Oryy is a deterministic deployment of Gnosis Safe.
  11. Simple Staking: Simple staking allows users not as familiar with DeFi, to leverage the rewards both of our ecosystem but also of the Flare Network.
  12. APYCloud: The Key to Sustainable DeFi Ecosystem Growth and Stability. APYCloud fosters sustainability by connecting all products within a broader ecosystem and collecting fees while rewarding long-term holders who participate in ecosystem governance.

Christodoulakis’ approach to software development mirrors the Flare ecosystem. The initial process is where the developers test the software internally, in their case on the test net and later publicly on the Songbird canary network. The team has been testing and updating the software on Songbird for the past year and a half.

“When dealing with other people’s money we have to make sure everything works and take responsibility for their capital while on our platform.”

The time spent testing the platform is time well spent. Next up is governance, then the APY Cloud which is a central fee aggregator.

“Governance will allow for the transition of power into the people’s hands – our team is a big advocate of this. We are also very excited about the APY Cloud which is very unique and will accrue real yields, taking a percentage of fees from every transaction and not relying on inflationary token activities.”

For Christodoulakis, mass adoption is key and he believes a combination of good user experience and solid, protective regulations will drive this process. It has been a long journey but he feels that the Ēnosys ecosystem has one of the most vibrant communities in crypto.

“We have been talking about this with Hugo quite a lot lately and Ēnosys is definitely aligned on that goal with Flare and is here to help with that goal. Very excited for the future."

“The industry needs to have ethical people to lead the self-regulation, allowing good products to be built that actually solve problems. We need to come together as an industry to achieve this."

“It all starts with us.”