Prop 3796: ERIS Protocol Revised Grant Proposal

ERIS is a liquid staking and slow burn arbitrage protocol. We will provide the Terra community with a product suite for a stable LSD economy, a fair delegation and governance framework and a Liquid Staking Derivative Liquidity Hub on Terra.

Over the last six months we have built: Amplifier, Amp Extractor, Amp Compounder, Manual Arb

We would like to continue building and shipping with our focus on Terra and are requesting 312,500 LUNA (@ $1.60 = $500,000) for finishing the product portfolio around our LSD.

The $500,000 will be used as follows:

$100,000 for audits $35,000 for marketing $15,000 for infrastructure $350,000 for salaries The funds will be payed out to a 4-out-of-5 community multi-signature wallet and be distributed milestone based.

Milestone 0: With passing of the proposal Milestone 1: Launch of Amp Governance Milestone 2: Launch of Arb Repeater Milestone 3: Integration of Warp Protocol

With passing of the proposal 50% of the funding will be paid out to cover audits, marketing, infrastructure and a small part of salaries. The remaining 50% will start vesting when all milestones are reached. The vesting will span over 10 months.

More information can be found in the agora discussion: https://agora.terra.money/discussion/8789-revised-eris-grant-proposal