Ecosystem Proposal: Eris Finance

Introduction

Eris is a groundbreaking decentralized lending and borrowing protocol, dedicated to bringing a versatile and efficient liquidity infrastructure to Metis ecosystem.

We aims to become the premier (#1) Metis native lending and borrowing platform, envisioning a space where users can effortlessly deposit any major asset and access a diverse range of supported assets for borrowing. Our mission is to establish a robust financial ecosystem within the Metis network, providing users with unparalleled flexibility, efficient capital deployment, and innovative borrowing options.

Eris’ Feature Set and Utility: Eris incorporated powerful features to deliver a comprehensive lending and borrowing experience :

Universal Asset Deposits: Eris enables users to deposit a wide array of major assets within the Metis ecosystem.

Multi-Asset Borrowing: Users can access a variety of supported assets and the upcoming Metis LST tokens. This feature enhances the platform’s utility, providing borrowers with a comprehensive set of options, along with expanding to the LST token utility.

Liquidity Mining: Eris introduces liquidity mining, allowing users to earn additional rewards by using Eris protocol. Incentivizes users to contribute to the platform’s liquidity, enhancing overall market depth.

Revenues Sharing: Staking is integrated into Eris, providing users with an additional opportunity to earn rewards. Users can stake or lock up $ERS tokens and participate in the platform’s success by earning a share of generated revenues.

Decentralized Governance: Eris places governance in the hands of its community, allowing users to actively participate in decision-making processes within the platform.

cTokens: Representing users’ deposited assets, cTokens accrue interest in real-time, providing a dynamic and yield-generating element to users. Additionally, protocols within the Metis ecosystem can leverage cTokens for various purposes.

Flash Loans: Empowering users with instant, uncollateralized loans for efficient arbitrage, liquidation, and yield farming strategies.

Metis Ecosystem Integration: Eris is closely integrated with the Metis network, making the most of its efficiency and ability to scale. The platform seamlessly connects with other Metis-based decentralized applications (dApps), such as the soon-to-be-launched HerculesDEX, to optimize synergistic opportunities.

Collateral Optimization: A sophisticated collateral management system ensures users can optimize their asset portfolios for improved financial stability.

Eris’ Unique Value Proposition: Eris prioritizes community engagement through decentralized governance, ensuring that the platform evolves in tandem with user needs. Lenders who provide liquidity to Eris are interacting and providing utility to the platform and Metis ecosystem. In addition, lenders can capture the added value from the communities’ engagement through the native token $ERS. Borrowers can withdraw against collateralized assets to obtain liquidity (working capital) without selling their assets.

Eris’ Roadmap: The roadmap is designed to advance Eris into a leading decentralized lending and borrowing platform:

Strategic Partnerships with Metis Projects: We’ll be unveiling major collaboration announcements with both established and upcoming key projects within the Metis network.

Grant and Fundraising: To support project development (LPs, lending pools, development, treasury, etc.) and onboard key players, Eris will apply for the grant program (MetisEDF) and plan fundraising campaigns.

Public Launch: Launch of Eris Protocol platform Liquidity Provisioning and Token Generation Event (TGE) $ERS Staking

Governance Implementation: Activation of decentralized governance mechanisms, giving users a voice in shaping Eris on Metis.

Eris Integration with Metis dApps: Seamless integration with other Metis-based decentralized applications, fostering a cohesive ecosystem.

Community-Led Initiatives: Launch of community-driven initiatives, and programs to encourage participation within the Metis-Eris community.

Security Audits: Regular security audits and ongoing improvements to ensure the highest standards of security for users on the Metis network

Continuous Improvements: Continual enhancements are underway to introduce new features such as Isolated Lending Pool and ensure the highest standards for our users (liquidity optimisation, staking system improvement and many more…).

Security and Assurance: Eris is built upon Radiant Capital’s V1, which was audited by PeckShield and Solidity Finance (audits reports are available under this link Audits - Radiant). This choice was influenced by its secure AAVE overlay and advanced token features, such as revenue sharing, governance, and a robust liquidity mining distribution scheme.

Eris places a high priority on the security of its platform. It’s important to note that we adapted the code to our platform without making changes to the codebase. Additionally, we undergo thorough security audits, implement robust smart contract practices, and maintain continuous monitoring. These steps are integral to our pledge to provide users with a secure environment.

Multisignature Approach: Adopting a multisig (multi-signature) approach to enhance security, mitigating risks associated with centralized single-key wallets.

Token Utility: Eris operates on a single-token framework with a limited supply. $ERS serves as the native utility token, offering various benefits such as governance participation, revenues sharing.

Lenders and borrowers have the opportunity to earn and accumulate $ERS tokens based on their involvement and contributions to the platform (=liquidity mining).

Eris’ Team: With over 5 years of experience in the crypto space, our core team comprises two full-stack developers, a project manager and DeFi strategist, a business developer, and a graphic designer overseeing UX/UI and assets. Furthermore, we’re supported by contributors who help us with various technical and marketing tasks.

Operational methodology: Just a heads up on our development approach – we’ve adopted a V model. This involves diving deep into functional and non-functional requirements specific to the unique features of Metis’ blockchain. We kick off with a detailed analysis, progress to a high-level system design outlining how the protocol interacts with Metis.

Conclusion: In summary, Eris is set to redefine decentralized lending and borrowing on Metis, offering a robust, customizable, and community-driven platform. We aim to provide advanced features, promoting financial inclusivity and user empowerment.

Thank you for considering Eris!

OFFICIAL LINKS:

Twitter: https://twitter.com/ErisFi_ Website: https://eris-finance.com/ Telegram: Contact @eris_finance Deck: https://pitch.com/v/deck-eris-qiqz4f Tokenomics: https://docs.google.com/spreadsheets/d/1rrPqI4yPAoriJpixn2ClOmPa94TB3TgZ/edit#gid=1247244902