Get 0% interest loans against your ETH
Borrow stablecoins with zero interest. Noncustodial. Immutable. Free forever.
How it works
Three steps to borrow stablecoins against your ETH.
Deposit ETH
01Lock your ETH as collateral in a CDP. Your ETH stays in your custody and on-chain.
Borrow stablecoins
02Mint ENNI stablecoins like enUSD or enCHF against your collateral. 0% interest. No hidden fees.
Repay anytime
03No lockups, no schedules. Repay anytime and withdraw your ETH whenever you like.
ENNI Stablecoins
Overcollateralized, permissionless stablecoins tracked to real currencies.
enUSD
US Dollar
enCHF
Swiss Franc
enYYY
More coming
Unbiased and permissionless
No blacklists, no freeze functions, no admin keys. ENNI stablecoins are standard ERC20 tokens. Once minted, nobody can censor or seize them. Truly noncustodial and immutable.
Backed by ETH and stablecoins
All borrowed stablecoins are overcollateralized by your ETH. You can never borrow more than 85% of your collateral's value. No algorithmic mechanisms, no fractional reserve. enUSD can also be minted 1:1 with USDC or USDT through DirectMint, fully backed by real assets in the contract.
Swap 1:1 with USDC and USDT
Mint enUSD directly from USDC or USDT at 1:1 with no slippage. Redeem back anytime for a flat 0.5% fee.
0% interest, forever
No borrowing fees. No stability fees. No variable rates. Zero is hardcoded into the immutable contract. No hidden fees.
Voluntary peg recovery
ENNI CDPs use a fair, market based buyout system where arbitrageurs restore the peg and borrowers are compensated with a 4 to 9% premium. No forced redemptions that penalize borrowers.
Growing ecosystem
ENNI stablecoin liquidity is growing through farming incentives and DEX trades. Due to ENNI's modular and immutable approach, it's easy to build on top of ENNI and its ecosystem.
Products
Everything in ENNI is immutable, governanceless, and autonomous.
CDP
Deposit ETH, borrow stablecoins at 0% interest. Each currency has its own isolated market with separate collateral and oracle.
DirectMint
Swap USDC or USDT to enUSD at 1:1 with no slippage. Redeem back anytime. The simplest way to get enUSD.
Rewards Vault
Stake ENNI and earn protocol revenue. All fees from liquidations and redemptions flow directly to stakers.
Farming
Provide liquidity or stake ENNI stablecoins to earn ENNI. 30 year emission schedule distributed through MasterChef.
How ENNI compares
See how ENNI stacks up against other protocols.
 | 
Aave
| 
Maker (Sky)
| 
Liquity v2
| |
|---|---|---|---|---|
| Interest rate | 0% forever | 3-5% | 3-5% | User-set 0.5-5% |
| Fees | None | Varies | Stability fee | Varies |
| Immutable | Yes | No | No | Yes |
| Governance | None | Token voting | Token voting | None |
| Governance capture risk | None | Yes | Yes | None |
| Parameter change risk | None | Yes | Yes | None |
| Redemptions | Voluntary | N/A | N/A | Forced |
| Liquidity | Growing | Deep | Deep | Growing |
*Competitor data is approximate and may vary. This comparison is for informational purposes only and is not intended to disparage any project. Always do your own research.
How much do you save?
Other protocols charge 3–5% interest. ENNI charges nothing. See the difference.
You save with ENNI
$0
per year in interest
Aave would charge (~4%)
—
Maker would charge (~4%)
—
Liquity v2 would charge (~3.8%)
— Minimum debt is 400 enUSD. Increase your deposit or LTV.
85%
Max LTV
88%
Liquidation
400
Min debt
0%
Borrow fee
*Simulation only. ETH price from CoinGecko may differ from on-chain oracle prices. Competitor rates are approximate averages and vary over time. Not financial advice.
$ENNI
The ecosystem token. Fixed supply. All protocol revenue flows to stakers.
21,000,000
Fixed supply, enforced by immutable code. No mint function beyond the cap. No inflation, ever.
Initial allocation is for contributors and early community. Distributed with a locked vesting schedule, not instantly.
Stake ENNI, earn
WETH
3% of seized collateral from CDP liquidations, donated to the vault
enUSD
0.5% fee from DirectMint redemptions, donated to the vault
ENNI
Native staking rewards from MasterChef farming emissions
No lockups. No cooldowns. No withdrawal fees. Claim anytime.
Where does the yield come from?
Real protocol revenue, not printed tokens. WETH comes from 3% of liquidation collateral. enUSD comes from 0.5% redemption fees. Both are sent directly from the contracts to the vault. ENNI rewards come from the 30 year emission schedule. As the ecosystem grows, more revenue sources can flow to stakers.
Audits & Security
With rigorous internal testing and community inspection. Also audited by two independent firms.
All contract source code is public on GitHub and verified on Etherscan. Ownership has been renounced permanently.
FAQ
Common questions about ENNI.
WETH (Wrapped ETH). You deposit ETH which gets wrapped into WETH as collateral in your CDP.
There are no borrowing fees or interest rates in the contracts. Zero is hardcoded. The protocol earns revenue from liquidation collateral and DirectMint redemption fees instead.
enUSD (pegged to US Dollar) and enCHF (pegged to Swiss Franc). More currencies can be added in the future.
If your position reaches 88% LTV, anyone can liquidate it. The liquidator repays your debt and receives your collateral at a discount. 3% of seized collateral goes to ENNI stakers.
Any stablecoin can temporarily move off its peg due to market conditions. But ENNI stablecoins are overcollateralized by ETH, USDC, and USDT so there is no unbacked minting. If ETH price drops, borrowers are incentivized to buy back stablecoins and repay their debt to protect their collateral. A death spiral is not possible because minting requires healthy collateral in the first place. On top of that, the buyout system and DirectMint create natural forces that push the price back to peg.
Yes, audited by Hashlock and Blockbite. All contracts are open source and verified on Etherscan.
No. All contracts are immutable. No proxies, no upgrades, no admin keys. The deployed code runs forever.
Swap USDC or USDT to enUSD at 1:1 with no slippage. Redeem back anytime for a 0.5% fee.
ENNI smart contracts are provided under the UNLICENSED license and are public. The smart contracts are the only agreement. There are no warranties, no guarantees. Any loss is on you. Use at your own risk. ENNI contracts use battle tested libraries like OpenZeppelin and rely on third party dependencies including Chainlink and Chronicle oracle feeds, USDC, USDT, and the Ethereum network. While the protocol has been audited, no audit eliminates all risk. These dependencies carry their own risks outside the protocol's control. This is not legal or financial advice. Do your own research.