- ampLUNC-LUNC pair: Terra Finder
- ampLUNC-LUNC LP token: Terra Finder
- Eris Protocol: www.erisprotocol.com
- Eris Twitter: https://twitter.com/eris_protocol
- Eris Telegram: Telegram: Contact @eris_protocol
- Eris Terra Classic Smart Contracts: GitHub - erisprotocol/contracts-terra-classic
- Audit: PublicReports/Eris Protocol - Amplified Staking - Audit Report v1.0.pdf at main · SCV-Security/PublicReports · GitHub
Due to the similarity to STEAK, parts of the proposal have been applied from ARC-18: Incentivize STEAK-LUNA liquidity
Incentivise ampLUNC-LUNC LP with ASTRO incentives
ampLUNC is the Terra Classic Version of the Eris Protocol Liquid Staking Derivate (LSD). It is similar to Lido, Stader, Prism and a fork of Steak. Users deposit / stake LUNC and receive ampLUNC in return. ampLUNC can be seen as a receipt to receive back the deposit with all auto compounded rewards. As staking rewards are autocompounded, the exchange ratio between ampLUNC and LUNC changes, with each day ampLUNC becoming worth more LUNC. More details can be found in our docs Amplifier
Right now Eris Protocol is the only working LSD available to Terra Classic and we would like to provide the LUNC community with a functioning LSD protocol on Terra Classic DeFi. When IBC on Terra Classic is re-enabled, we intend to IBC ampLUNC to Terra and bring all LUNC users closer to Terra 2 DeFi. Ideally, an exposure to how Astroport works with its generator, fees, incentives, providing liquidity and swapping of tokens will be great onboarding tools for the new LUNC users. This makes Astroport Classic an ideal playground for them to learn how to use DeFi.
While we are a fork of previously developed Steak by Larry0x on Terra Classic, we are not affiliated with him in any way, but want to continue developing around the protocol and bring all amp[TOKEN] from within cosmos to Terra 2 DeFi.
We try to continue with the same philosophy set by STEAK, with the difference that we have a 5% protocol reward fee, to support further development and transaction fees. Also our vision for developing Eris Protocol goes further than only liquid staking: https://docs.erisprotocol.com
We do not have any platform token to extract value from the user and are fully self funded.
- Zero money raised from VCs: developers worked completely voluntarily, paying for expenses out of their own pockets;
- Committed to support non-institution, community-based validators, especially those who contribute to open source projects, run self-hosted servers (instead of cloud-based ones), and provide crucial infrastructure services for the Cosmos ecosystem (e.g. IBC message relaying). All our validators are monitored for governance and community participation.
When looking at the on-chain interaction data, we still see many transactions from new Terra Classic Community members. Many of which are not yet familiar with DeFi or how to interact with the chain.
We see the support of Terra Classic as a great way to onboard and educate new people in the Terra Ecosystem and want to make the transition for them as easy as possible to Terra 2.
We also believe that this brings great value to astroport, as we can support moving the community over to Terra 2 when IBC is enabled again and start bringing volume and TVL to Astroport.
All while bringing the advantages of liquid staking to Terra Classic and improving decentralization, by spreading delegations between many validators that are not in the top.
We propose that the Astral Assembly rewards the ampLUNC-LUNC LPs with an alloc_point value of 94,000 in the Generator contract.
This is comparable to the level of incentivization given previously to stLUNA-LUNA (alloc_point of 94,000) and LunaX-LUNA (alloc_point of 66,650 proposed).
Copyright and related rights waived via CC0.