ERIS 1.0: Claimdrop
TLDR: Hold amp[TOKEN] and start earning $ERIS.
Today we unveil our plans for the launch of the $ERIS token.
ERIS has been live for over 1 year and we have built it into a strong, fully decentralized and automated protocol.
We have expanded across 11 chains and we are proud to have become the second largest liquid staking provider in Cosmos.
We are thrilled to allow our community to participate in the future revenue and governance of the protocol and share its success together. The end of our current journey to achieve the ERIS 1.0 roadmap goals is getting closer and we look forward to continue sharing our progress with our community. Look out for regular updates as we improve and build a resilient liquid staking economy for Cosmos.
Let’s talk about token distribution.
$ERIS tokens will be received by people that use ERIS products and provide liquidity to DEXes.
Overview
- $ERIS will have a fixed supply of 1 billion tokens. There is no inflation, but deflationary mechanics. Detailed insights into these mechanics will be unveiled in the coming months.
- Up to 20% of the supply can be earned by using our products.
- Weekly snapshots are taken across ALL ecosystems ERIS is deployed to. For every dollar in protocol fees paid, participants receive 42 $ERIS tokens. Notably, this applies to various ecosystems, and DeFi protocols (see below)
- Higher protocol fees will lead to a higher amount of tokens distributed.
- Additional Airdrops will be funded by unused Claimdrop allocations.
- Chains providing community owned liquidity through programs like the WhiteWhale SAIL, will participate in the Claimdrop.
- Chains / Protocols providing a development / operations / incentive grants will receive the corresponding value as part of the Claimdrop.
Let’s look at an example. Lisa is receiving 100$ in staking yield for a week and pays 5$ in protocol fees. As a result, she will earn 210 $ERIS tokens. If she deposited her liquid staking token inside Amp Governance and participates in delegation voting, she will earn 420 $ERIS tokens instead.
* pixeLions: For each ERIS trait pixeLion held, each NFT is valued at pixeLions floor price (denominated in ampLUNA). Limited to a max of 1000 LUNA. Floor price and wallet holders being tracked using TFM API.
* Osmosis, Sei: We can’t snapshot token factory balances at the moment, so use Amp Governance lockup to participate.
* Terra Classic: Yes you read right, Terra Classic will receive an $ERIS claimdrop. Distribution will happen on Terra 2.
* Kujira: Protocol fee is increased to 5 % to allow a participation in the claimdrop.
* More than 10000 wallets have already used ERIS products. Not all are included however due to our dust rule filtering wallets that hold less than 0.01 tokens.
* Locking in Amp Governance gives you a factor 2x in the airdrop amount.
* Smart contracts are excluded from receiving the claimdrop. For exceptions please contact us. Current Exceptions: Lion DAO, pixeLions DAO
* Liquidity provider and Multi-Chain holdings will be added to the snapshots over the coming weeks.
* Until the official launch of $ERIS and its tokenomics, protocol fees are used to support operations, development and expansion costs.
Here is a sneak peek of the priliminary token distribution. There will be a follow up post explaining more of the details.
This post is subject to and qualified by the ERIS disclaimer. ERIS is not making any representation, warranty or guarantee regarding the accuracy or completeness of the statements herein. Any statement is subject to change. There is no legal claim for receiving $ERIS by using ERIS or ERIS related products.
