# Amplifier

The ERIS Amplifier is the Liquid Staking Product of the Eris Protocol.

Normally when using any kind of staking there is a unbonding period. In the Terra ecosystem it is often 21 days. That means when unstaking tokens the user has to wait for this period to have access to their tokens again.

The next evolutional step is the introduction of liquid staking. It allows users, to transfer / trade or collateralize staked coins or tokens even though they are staked and locked. Even during usage the tokens auto compound and increase in underlying value. To convert the liquid staking token back to the original token, users still need to wait 21 days - called the slow burn mechanism or immediately swap with a usually small markup.

On Eris Protocol when you deposit the [TOKEN] into the Amplifier you will receive amp[TOKEN] back. Eris Protocol stakes the [TOKEN] with our monitored and checked whitelisted Validators and harvests daily the rewards. If the rewards are received in more than one token or coin, we will swap all other coins to [TOKEN] and restake the whole amount again.

You can see the amp[TOKEN] as kind of receipt, with which you can claim your deposit + auto compounded rewards back.

# Why use ERIS

When using normal staking, your coins are locked and can't be used for other protocols. To autocompound rewards you will need to claim, swap and restake them, which will create taxable events and transaction costs. That is why ERIS will automate the process for you.

# Advantages

APY - Due to our daily executed autocompounding your APY is better than regular staking.

Liquid - Stay liquid, as you can still use your amp[TOKEN] even while the underlying [TOKEN] is being accumulated. Use it for sending, swaps, collateral and have the possibility to immediately access your underlying [TOKEN] by using a DEX without waiting for the unbond period. You can also transfer your amp[TOKEN] through IBC to other chains.

Integration - Even while generating yield, the token can be used in other dApps for collateralization, lending and LP provisioning.

Time - You will not have to worry about autocompounding every day, no matter what you do, where you are or if you sleep. ERIS will always autocompound your rewards daily.

Tax efficiency - In many countries a token swap will lead to taxable events. Using ERIS protocol, you will only swap once into the amp[TOKEN] and this token will increase in value. And when you want to stop using ERIS you can claim more [TOKEN] than you originally deposited. When compounding manually you will create taxable events every time you use the arbitrage.

Monitoring - We are checking and monitoring all our whitelisted validators for governance participation, infrastructure, missing blocks and community activity. We have direct access to the validators teams. As we uniformly distribute our delegations, we also improve decentralization of the network.

Terra Classic: When the burn tax will be activated on Terra Classic, you will still be able to use ampLUNC without paying the 1.2% burn tax, as the tax only applies to LUNC and USTC

# Disadvantages

• Smart contract risks
• Voting in Governance not possible yet (See Milestones)

# Fees

• Deposit Fees: 0 %
• Performance Fees: 5 % Protocol Treasury
• Withdrawal Fee: 0 %