# What is Amply Finance?
Set forth with Amply Finance, the pioneering peer-to-pool lending protocol on the Cronos zkEVM chain. Here we have one mission: to help fellow crypto travelers like you light the way.
With Amply Finance, instant liquidity is at your fingertips. By leveraging our peer-to-pool lending mechanism, you can (go left) seamlessly deposit your crypto assets into lending pools to earn interest or (go right) utilize them as collateral to borrow other cryptocurrencies; or go forward, just think what sights we’ll see!
Safety and reliability steer our North Star above all else. Our smart contracts are rigorously audited and continuously monitored to ensure the safety of your assets. Wherever you venture with your crypto assets, your funds will be well-protected.
Here stands Amply Finance, ready to plot a new course with you on the blank map we call DeFi!
# Why Amply Finance?
Unlock the Potential of Your Crypto
Amply Finance empowers you to make the most of your crypto assets. Enter the fold and experience the following benefits:
**Deep Liquidity**: Access a wide range of [cryptocurrencies](/asset-listings-and-risk-management/supported-assets-and-parameters) with deep liquidity pools, ensuring seamless trades.
**Amplify Your Earnings**: Grow your wealth by earning competitive interest rates on your deposited assets.
**Be Part of Something Bigger**: Participate in the Amply ecosystem and share in its potential growth through the [$AMPLY token](/tokenomics/tokenomics-details).
# How does Amply Finance Work?
Lending and Borrowing Made Easy
Amply Finance operates as a decentralized lending platform where users can lend and borrow cryptocurrencies:
[**Supplying Assets**](/using-amply-finance/supplying-tokens): Contribute your cryptocurrencies to our lending pools. In return, you receive interest paid by borrowers.
[**Borrowing Assets**](/using-amply-finance/borrowing-assets): Use your deposited crypto as collateral to borrow other cryptocurrencies. The amount you can borrow depends on the risk level of your chosen collateral and the maximum loan-to-value (LTV) ratio.
[**Repaying Loans**](/using-amply-finance/repaying-loans): Repay your borrowed cryptocurrencies along with any accrued interest to close your loan position.
[**Withdrawing Assets**](/using-amply-finance/withdrawing-assets): Withdraw your deposited crypto assets from the lending pools at any time.
Ready to explore the world of DeFi? Let's dive into how you can harness the power of Amply Finance.
# Tokenomics Details
$AMPLY is the protocol token for Amply Finance.
$preAMP was distributed as supply and borrowing rewards in order to incentivise early supporters of Amply. You will be able to redeem 1 $preAMP earned for 1 $AMPLY token on 6 November, 2024.
$preAMP has no monetary value and is also non-tradable and non transferable.
# preAMP Conversion Scheme
$preAMP will be [converted](/using-amply-finance/converting-preamp-to-amply) to $AMPLY over a 3 month period.
The first 10% will be immediately unlocked at time of conversion, followed by a 1 month freeze. After this freeze period, there will be a 2 month period where an equal amount of $AMPLY will be unlocked every day.
For example, let’s assume you have 1000 $AMPLY. Using 6 Nov as the conversion date:
**On 6 Nov:**
* 10% of your $AMPLY (100 tokens) is unlocked upfront which can be claimed to your wallet, OR
* 100% of your $AMPLY (1000 tokens) can be staked for 3 months
**From 6 Nov - 6 Dec:**
* No additional tokens will be unlocked during this period.
* During this time, you may choose to stake the remaining $AMPLY for 3 months in order to earn extra yield while waiting for the tokens to unlock.
**From 6 Dec - 6 Feb:**
* An equal amount of $AMPLY will be unlocked daily during these 2 months.
* If you choose not to stake your $AMPLY, you can instead withdraw them as they unlock.
**From 6 Feb - 6 Mar:**
* On 6 Feb, all of your $AMPLY will be unlocked and can be fully withdrawn
* You need to [claim](/using-amply-finance/staking-amply/claim-amply-rewards) all $AMPLY by the claim deadline of 6 March (1 month after Full unlock). All unclaimed AMPLY after the claim deadline will be forfeited
# AMPLY Token Offering
$AMPLY Token Offering was an opportunity for users to get in early and obtain some $AMPLY. Users participated by sending funds to a designated wallet - which will be refunded back to users after the event!
**Details are listed below:**
Offering start date: 29 October, 2024, 8 am UTC
Offering end date: 30 October, 2024, 8 am UTC
Units on offer: 1 Million
Minimum USD amount per wallet: USD20 (equivalent to 2,220 $H2 or 45,558 $MOON)
Minimum number of participants: 300
Tokens accepted:
* $H2
* $MOON (On both Cronos zkEVM and Cronos EVM chains)
How it works:
1. On the day of the offering, send $H2 and/or $MOON tokens to the designated wallet address:
* 0x16cA874ebC5310116b6B2ca472CB2B30dF5bAcFE
2. $AMPLY allocation will be airdropped to you within 24 hours after the end of the offering deadline
3. Your submitted $MOON & $H2 will be returned after 3 months in the form of $zkCRO. Your funds will be returned as zkCRO using the following exchange rates:
* $H2-zkCRO exchange rate of 0.119;
* $MOON-zkCRO exchange rate of 0.00575
4. For those holding 100 $preAMP tokens or more, you’re eligible for an extra 10% bonus on your $AMPLY Offering contribution. As long as you participate in the Offering using the same wallet that holds your $preAMP tokens, you will receive this bonus.
* the 10% bonus is valid on multiple transactions as long it meets the eligibility criteria below
* Unclaimed and Claimed $preAMP (as long as you hold 100 or more combined) will count towards the bonus 10% eligibility
* The zkCRO refund (in 3 months time) will be based solely on the original contribution, and does not factor in the 10% bonus
In order to be eligible:
1. We accept $MOON on both Cronos EVM and Cronos zkEVM chains
2. Any tokens other than $H2 or $MOON that is sent to the wallet will not be eligible and non-refundable
3. Any tokens sent to the offering address before/after the time period stated above is not eligible and non-refundable
4. If the funds is below the minimum amount of USD20, your tokens will not be eligible and non-refundable
# How to use Amply Finance
Ready to grow your crypto holdings? By supplying your assets to Amply's lending pools, you can earn attractive interest while supporting the platform's liquidity.
[Supplying Tokens](/using-amply-finance/supplying-tokens)
[Borrowing Tokens](/using-amply-finance/borrowing-assets)
[Repaying Loans](/using-amply-finance/repaying-loans)
[Withdrawing Assets](/using-amply-finance/withdrawing-assets)
[Stalking AMPLY](/using-amply-finance/staking-amply)
[Withdrawing AMPLY](/using-amply-finance/staking-amply/withdrawing-amply)
[Upgrading AMPLY](/using-amply-finance/staking-amply/upgrade-amply)
[Claiming AMPLY Rewards](/using-amply-finance/staking-amply/claim-amply-rewards)
# Supplying Tokens
Supplying your crypto assets to Amply's lending pools allows you to earn interest on your holdings. Here's how to get started:
1. Connect your Wallet: Ensure your preferred wallet is connected to Amply Finance.
2. Pull up the Supply/Borrow modal and click “Supply collateral”.
3. Choose an Asset: Select the crypto asset you want to deposit from the list of supported assets.
4. Enter Deposit Amount: Specify the amount of the chosen crypto asset you want to supply.
5. Confirm Supply: Approve and finalize the transaction to add your assets to the lending pool.
Note:
* aTokens: Upon supplying your assets, you'll receive aTokens in return to track your deposits and the interest you've earned from your wallet. These aTokens are rebasing, meaning the interest accrued is reflected by the increasing balance of aTokens in your wallet over time.
Key Points to Remember:
* Interest rates can fluctuate based on market conditions.
* You can redeem your original crypto assets at any time.
* aTokens are a representation of your investment and its growth.
By supplying your assets to Amply, you contribute to the platform's liquidity while earning rewards. Now, let’s look into how you borrow assets in the next section.
# Borrowing Assets
Amply Finance empowers you to unlock the full potential of your crypto assets by allowing you to borrow against your collateral. Here's a step-by-step guide:
1. First, ensure that you have supplied a token as collateral. Refer to [this](/using-amply-finance/supplying-tokens) section for a step-by-step guide on how to supply an asset on Amply.
2. Next, pull up the Supply/Borrow modal and click “Borrow Token”.
3. Choose What to Borrow: Select the cryptocurrency you need from the available options.
4. Enter Borrow Amount: Specify the amount of the chosen crypto asset you want to borrow.
5. Confirm Borrow: Review details and finalize the transaction to receive the borrowed funds.
Important Considerations:
* [Health Factor](/health-factor-and-loan-to-value-ratio-ltv#health-factor): Represents the health of your debt position. Your Health Factor decreases the more you borrow. The lowest you can go is to a Health Factor of 1.
* [Repayment](/using-amply-finance/repaying-loans): Remember to repay the borrowed amount plus interest to avoid liquidation.
By understanding these steps and considerations, you can effectively leverage Amply Finance to meet your financial needs.
# Repaying Loans
To avoid liquidation and protect your collateral, it's essential to repay your borrowed assets.
1. Navigate to the Dashboard Page: Locate your active loan and click “Repay”.
2. Specify Repayment Amount: Specify the amount of the borrowed asset you want to repay.
3. Confirm Repayment: Once confirmed, the transaction will process, and your loan balance will be reduced accordingly.
Key Points:
* **Partial or Full Repayment**: You have the flexibility to repay your loan in full or in parts.
* Do note that if you wish to fully repay, you will need to click on the “MAX” button
* **Interest Management**: Regularly repaying interest helps maintain a healthy loan-to-value (LTV) ratio.
# Withdrawing Assets
What if you want to access your original crypto assets? Withdrawing your funds from Amply is also straightforward.
1. Navigate to the Dashboard Page: Locate your active supply and click “Withdraw”.
2. Specify Withdrawal Amount: Enter the amount of tokens you want to redeem
3. Confirm Withdrawal: Review the details and confirm the transaction. You'll receive the equivalent amount of your crypto asset back to your wallet.
Important Considerations:
* **Fully withdraw:** If you wish to fully withdraw your deposit, click on the “MAX” button to do so
* [**Health Factor**](/health-factor-and-loan-to-value-ratio-ltv#health-factor) **> 1:** If you have any borrowings, you can only withdraw your assets up till a Health Factor of 1. However, we encourage you to maintain a Health Factor above 3.
* **Forgo Interest:** Withdrawing your assets means you'll no longer earn interest on that specific portion.
* **Market Fluctuations:** The value of your withdrawn crypto might differ from when you initially deposited it.
By following these steps, you can efficiently retrieve your assets while understanding the potential implications.
# Claiming $AMPLY Rewards
As you earn $AMPLY from **suppling your tokens**, Amply Finance allows you to claim or stake your earned $AMPLY rewards seamlessly. This guide provides step-by-step instructions on how to claim or stake rewards easily on Amply Finance platform.
1. Navigate to the Dashboard Page: Locate “My earning” and click “Compound”.
2. A “Claim/Compound” card will appear. The dashboard will display your available rewards in both USD and AMPLY token amounts.
3. Below will show two options:
1. **Claim in Wallet**: Select this option to withdraw earned AMPLY tokens to your wallet.
2. **Stake in Vaults**: Reinvest your rewards into a staking vault for increased yield.
**Note:** Users can only select one action (either Claim or Compound, but not both).
### If you select “Stake in vaults” option:
1. On the “Claim/Compound” card, select the "Stake in Vaults" Option
2. Click “Next” to proceed.
3. Choosing a Locking Period by selecting a preferred staking duration:
* 3 Months
* 12 Months
* 24 Months
* 48 Months
#### Note: The longer the staking period, the higher the yield multiplier.
4. Click “Confirm” to finalize the selection and the transaction.
1. Your staked amount will be reflected in the staking vault section of your dashboard.
### Important Notes
* Users **cannot** claim and stake rewards simultaneously; only one action per transaction.
* The "Claim" or "Stake" option is **disabled** if no rewards are available.
* The highest yield vault APR% is displayed for reference before staking.
# Staking AMPLY
Maximize your returns by staking your $AMPLY tokens. Here's a step-by-step guide:
1\. Navigate to the AMPLY Page
* Ensure you have $AMPLY in your wallet.
2\. Specify Maturity and Staking Amount: Choose how long to stake $AMPLY for and the amount of tokens to stake
* Maturity periods available: 3M, 12M, 24M, 48M.
* Corresponding vault multipliers: 2x, 10x, 20x, 50x
* The multipliers reflect a higher APR if you choose a higher maturity period.
* For example, if you stake $AMPLY for 12 months, you will expect to receive an APR that is 5 times higher than if you only staked the tokens for 3 months
3\. Confirm transaction: Click the “Confirm” button to complete the transaction and your staked amount will be reflected accordingly
Important Considerations:
* Once your $AMPLY is staked, you can only [withdraw](/using-amply-finance/staking-amply/withdrawing-amply) at the end of maturity
* You can [claim](/using-amply-finance/staking-amply/claim-amply-rewards) your $AMPLY Rewards earned from staking anytime
* You have the option to [upgrade](/using-amply-finance/staking-amply/upgrade-amply) the staking period and/or deposit more $AMPLY
# Withdrawing AMPLY
Once your $AMPLY has reached staking vault maturity, you can withdraw your tokens. Here's a step-by-step guide:
1\. Navigate to the AMPLY Page
2\. Under your staked $AMPLY time period, click on “Details”
3\. Under “Deposits”, you will see any eligible deposits that can be withdrawn showing “Ready to unstake”. Click the dropdown box.
4\. You will see the option to “Withdraw” here
If you choose “Withdraw”, you will be taken to a confirmation screen where you can click “Confirm” to complete your withdrawal of $AMPLY to your wallet.
# Upgrade AMPLY
You always have the option to upgrade staking period and/or deposit more AMPLY. Here's a step-by-step guide:
1\. Navigate to the AMPLY Page
2\. Under your staked $AMPLY time period, click on “Details”
3\. You will see 2 options here:
* Option A: Stake More
* Option B: Upgrade Duration
If you choose “Stake More”, you can choose to stake additional $AMPLY to deposit. Click “Confirm” to complete the transaction.
* Note: Adding additional tokens will create a new vault. For instance, if you currently have 100 AMPLY in a 3 month vault and, after 1 month, decide to stake an additional 50 AMPLY, selecting 'Stake More' will initiate a new 3 month vault for the additional amount. The original 100 AMPLY deposit will remain unaffected.
If you choose “Upgrade Duration”, you can select the deposit(s) to upgrade. Click “Confirm” to complete the transaction.
* Note: Duration upgrades are fixed to longer terms only. For instance, if you have 100 AMPLY in a 3 month vault and, after 1 month, choose to upgrade to a 12 month vault, selecting 'Upgrade Duration' will reset the term, requiring a full 12 month commitment from the time of upgrade.
Note:
* If you have any unclaimed AMPLY rewards, choosing "Upgrade" or "Stake More" will send these rewards to your wallet
# Claim AMPLY rewards
This guide below explains how to claim or stake $AMPLY **earned from staking**. This will be similar to the guide to [Claim $AMPLY](https://docs.amply.finance/using-amply-finance/claiming-usdamply-rewards)
### Accessing the Rewards Dashboard
1. Navigate to the AMPLY page.
2. Under the "Your Rewards" section, click the “Claim/Compound” button.
3. A “Claim/Compound” card will appear. The dashboard will display your available rewards in both USD and AMPLY token amounts.
4. Below will show two options:
* **Claim in Wallet**: Select this option to withdraw earned AMPLY tokens to your wallet.
* **Stake in Vaults**: Reinvest your rewards into a staking vault for increased yield.
**Note:** Users can only select one action at a time (either Claim or Compound, but not both).
### If you select “Stake in vaults” option:
1. On the “Claim/Compound” card, select the "Stake in Vaults" Option
2. Click “Next” to proceed.
3. Choosing a Locking Period by selecting a preferred staking duration:
* 3 Months
* 12 Months
* 24 Months
* 48 Months
#### Note: The longer the staking period, the higher the yield multiplier.
4. Click “Confirm” to finalize the selection and the transaction.
* Your staked amount will be reflected in the staking vault section of your dashboard.
### Important Notes
* Users **cannot** claim and stake rewards simultaneously; only one action per transaction.
* The "Claim" or "Stake" option is **disabled** if no rewards are available.
* The highest yield vault APR% is displayed for reference before staking.
# Converting preAMP to AMPLY
Your 1 $preAMP will be converted to 1 $AMPLY. This conversion is subject to a Vesting schedule detailed [here](/tokenomics/preamp-conversion-scheme).
You have 2 options for your converted $AMPLY:
1. Stake $AMPLY to a 3 month vault, or
2. Claim your unlocked tokens to wallet,
Here's a step-by-step guide:
1. Navigate to the Claim $AMPLY page. You will be prompted 2 options:
* Option A: Stake to vault
* Option B: Claim unlocked tokens to wallet
**Option A**: If you want to stake $AMPLY to vault, you can follow the below steps
1. Click “Stake in 3 Month Vault”
2. You can ONLY choose a 3 month duration
3. Click “Confirm” once you have checked and confirm the transaction details
Key points:
* Staking offers the highest potential yield at the end of 3 months. You are likely to have earned more extra $AMPLY from staking it, than by waiting for the vesting period to end
* All available $AMPLY, including the locked amounts, are eligible to be staked immediately
* If you wish to stake your $AMPLY for longer, you can [upgrade](/using-amply-finance/staking-amply/upgrade-amply) the maturity on the AMPLY page
**Option B**: If you choose to claim unlocked tokens to your wallet, you can follow the below steps
1. Click “Claim in wallet”
2. You will be shown amount of $AMPLY to be claimed
3. Click “Confirm” once you have checked details of claim
4. At any one time, you can choose to stake the remaining locked $AMPLY into a 3 month vault
# Claiming vETH and vUSD Rewards
vETH is a ERC20 token which aims to follow the value of ETH, while enabling its holders to accumulate rewards generated by proof-of-stake on the Ethereum mainnet. Similarly, vUSD is a ERC20 token which aims to follow the value of DAl, while enabling its holders to accumulate rewards generated by DeFi.
These accumulated rewards are typically claimable on the [Cronos zkEVM Rewards page](https://zkevm.cronos.org/missions/) (more info [here](https://blog.cronos.org/p/veth-and-vusd-yield-bearing-tokens)).
However, for users who deposit vETH and vUSD with us, this yield can only be claimable on Amply's Dashboard
**Key Points:**
* Suppliers of vETH or vUSD on Amply forgo direct access to the yield generated by these tokens.\
Instead, Amply collects this yield.
* The yield collected by Amply will be redistributed back to the original vETH and vUSD suppliers.\
Suppliers will have to manually claim this yield on Amply's Dashboard
* The yield accrued will be periodically distributed and claimable via our platform UI
* The amount of refund you will receive might not be the exact APR shown on the [Cronos zkEVM Rewards page](https://zkevm.cronos.org/missions/). If vUSD and/or vETH has been borrowed out, the borrower will instead earn this extra yield.
## Claiming Yield on Amply
Amply provides a simple and user-friendly way to claim your extra VETH and VUSD yield on our Dashboard via the Yield Refund section. Here's a step-by-step guide:
1. Navigate to the Dashboard and click on the "My earnings" tab
2. Head to the Yield Refund section and click the "Claim all" button
3. Once confirmed, the extra yield will be transferred directly to your wallet.
Note: Refunds on vUSD and vETH yields are processed **periodically**, but there is no fixed timetable for distribution. Users can expect these refunds to arrive from time to time, though the exact schedule may vary.
# Efficiency Mode
**Efficiency Mode (eMode)** is a feature on Amply Finance designed to increase your capital efficiency when using highly correlated tokens as collateral and for borrowing. By grouping tokens with high price correlation, such as stablecoins, eMode allows you to borrow against your collateral at a higher max Loan-to-Value (LTV) ratio, increasing your available borrowing power.
#### Available eMode Categories
* **Stablecoin eMode**
* Tokens: **vUSD, USDC**
* Unlock higher LTVs when using stablecoins within this category. Ideal for capital-efficient stablecoin strategies.
* **CRO eMode**
* Tokens: **zkCRO, CRO**
* Boost borrowing power when supplying or borrowing CRO-native assets. Designed for users active in the Cronos ecosystem.
The parameters for this category such as Max LTV can be found [here](/asset-listings-and-risk-management/supported-assets-and-parameters).
**Key Benefits of eMode:**
* **Higher Max LTV:** When you activate eMode and use correlated tokens within the same category, you’ll gain access to a higher max LTV for these assets, enabling you to borrow more capital.
* **Stablecoin Efficiency:** vUSD and USDC are stablecoins. By entering the “stablecoin” eMode category, you can supply either of these tokens and borrow them at a higher LTV than standard, although you can only borrow tokens within the chosen eMode category.
**Restrictions:**
* **Borrowing Limits:** When eMode is activated, you can only borrow tokens within the chosen eMode category.
* **Collateral Flexibility:** You can supply any token as collateral, but only those in the active eMode category will enjoy the higher LTV benefits.
# Activating eMode
To activate eMode and benefit from higher capital efficiency, follow these steps:
1. Head to the Markets page. Under the Total Market Size information box, you will see the text “Activate E-mode”. Click on the “E-Mode: off” button beside it.
* This will open up the “Enable E-Mode” card
2. On the “Enable eMode” card, select which category you want:
* If multiple eMode categories are available (e.g., stablecoins, ETH derivatives), you’ll be able to select the category you want to enable.
3. Check Existing Borrowings:
* If you already have outstanding debt, Amply will verify whether it falls within the chosen eMode category.
* If yes: You can proceed by clicking “Enable” and eMode will be activated
* If no: The “Enable” eMode option will remain disabled.
# Using Collateral and Borrowing Tokens in eMode
**Using Collateral in eMode**
Once eMode is enabled, you can proceed to use eligible tokens as collateral within the chosen eMode category:
1. Click “Enable as Collateral” in eMode:
* Amply checks if you already have other collateralized assets enabled.
* If yes: eMode allows you to enable this additional asset as collateral, provided it aligns with eMode requirements.
2. Check eMode Eligibility:
* If the collateral meets eMode criteria, Amply applies eMode risk parameters to increase your max LTV, expanding your Available to Borrow amount.
* If no: Standard risk parameters apply, and eMode benefits won’t affect your collateral’s LTV.
**Borrowing Tokens in eMode**
Once in eMode, you can only borrow assets within the selected eMode category, provided that you stay within the max LTV limits:
1. Confirm Borrowing Limits:
* Check that your borrowing remains within the max LTV allowed in eMode.
* If not: The “Borrow” button will be disabled until your debt returns within the limit.
# Repaying Debt and Withdrawing Collateral in eMode
**Repaying Debt in eMode**
Repaying debt while in eMode follows a straightforward process to help you manage your borrowing efficiently:
1. Check Wallet Balance:
* Ensure you have enough of the borrowed token in your wallet to make a repayment.
* If insufficient: You’ll need to acquire additional tokens to repay your debt.
**Withdrawing Collateral in eMode**
You can withdraw collateral while in eMode, provided it meets borrowing and health factor (HF) requirements:
1. Check Borrowings:
* If you have no outstanding borrowings: You may withdraw your entire deposited amount.
* If you have active borrowings in E-Mode: The maximum withdrawal amount will depend on your Health Factor (HF), which must be greater than 1.01 to maintain borrowing security.
eMode on Amply Finance is designed to provide you with more borrowing power for assets with correlated price movements, helping you maximize capital efficiency while keeping your collateralized funds secure.
# Deactivating eMode
You can deactivate eMode, provided it meets borrowing and health factor (HF) requirements:
1. Open your “Enable E-Mode” card by clicking on the green "E-Mode:" box
2. You will see the option to “Exit E-Mode” on the bottom of the card.
* When deactivating eMode, your assets will return to their default LTV settings. If your borrowing exceeds the lower LTV (e.g., stablecoins dropping from 90% to 80%), you will need to repay or adjust collateral first
* You can only exit E-Mode if your Health Factor > 1.0
# Interest Rate Model
Amply utilizes a variable interest rate model for both borrowing and lending. This means the interest rates fluctuate based on market demand. Here's a simplified breakdown:
High Utilization: When there's a high demand for borrowing a particular asset (high utilization rate), borrow rates tend to increase, while supply rates become more attractive. This incentivizes users to deposit more of that asset to meet the borrowing demand.
Low Utilization: Conversely, when there's an excess of a particular asset in the lending pool (low utilization rate), borrow rates decrease, potentially making borrowing more appealing. Supply rates might also decrease to reflect this lower demand for borrowing.
## Understanding Utilization Rate
The utilization rate is the percentage of deposited assets that are currently borrowed. It's calculated as:
Utilization Rate = Total Borrowed Amount / Total Supplied Amount
A higher utilization rate indicates a higher demand for borrowing, potentially leading to higher interest rates for borrowers and attractive returns for lenders.
If utilization rate is high (i.e. close to 100%), this means that most available funds are lent out so most lenders would not be able to withdraw their assets. This is why we have an incentive structure in place to encourage utilization to stay below a specified “optimal” level. This concept is explored more in depth in the following section.
# Borrow interest rate
Utilization rate can also be viewed as an indicator of liquidity risk. Liquidity risk, which is the ability for lenders to withdraw their assets, increases as utilization increases and all becomes exponentially riskier as the pool’s utilization advances towards 100%.
In view of this, calculation of borrow rates is broken down into 2 parts:
* The interest rate calculation when utilization is below a set optional rate (U optimal), and
* the calculation when Utilization is above this optimal point
If U current <= U optimal:
***Borrow interest rate = Base Borrow Rate + (U current/U optimal)(Rate Slope 1)***
If U current > U optimal:
***Borrow interest rate = Base Borrow Rate + Rate Slope 1 + \[(U current - U optimal)/(1 - U optimal)]\(Rate Slope 2)***
U optimal represents the target utilization rate of a lending pool that Amply tries to encourage. We aim to encourage fund usage up to this target utilization, but discourage usage above this threshold. This explains why the interest rate model is “kinked”, where rates slowly rise up to U optimal, but then rise faster beyond that.
In the diagram above, the “kink” area of the area is what Amply would consider utilization optimal. If the utilization rate rises above this point, interest rates start increasing much faster in order to disincentive borrowing and incentivize more supply.
This optimal pool usage is dependent on the risk profile of an asset. For example, a more volatile asset will have a lower optimal utilization rate (i.e. 45%), while a stablecoin would have a higher point (i.e. 80%).
# Supply rate
The interest rate paid by borrowers is distributed as yield to users who supplied to a respective lending pool, excluding a “spread” that is sent to the ecosystem reserve (the amount is determined by the reserve factor).
***Supply interest rate = utilization rate \* borrow rate \* (1 - reserve factor)***
If the utilization rate of a lending pool is 50% and the borrow rate is 10%, then borrowers are only paying 10% on half of the assets supplied. As a result, lenders will actually only receive 5% on their capital (minus the reserve factor).
# Health Factor and Loan-to-Value Ratio (LTV)
There are 3 types of LTV ratios on Amply:
## Max LTV
Max LTV represents the maximum amount you can borrow against your collateral. For example, if vETH has a Max LTV of 80% on Amply, then you can borrow up to $0.80 for every $1 of vETH deposited as collateral.
## Liquidation threshold
Liquidation threshold is the LTV at which your position becomes eligible for liquidation. For example, if vUSD’s liquidation threshold is 82%, this means that if your debt value (in USD) becomes worth 82% of your vUSD collateral, then your position will be flagged for liquidation.
Liquidation threshold is higher than max LTV to give users a buffer against getting immediately liquidated. For example, if max LTV and liquidation threshold of vUSD is 80% and 82% respectively, it means that you can borrow up to $80 for every $100 of vUSD deposited. However, should your debt increase to $82 (debt value becomes 82% of the collateral), your debt position will then be flagged for liquidation.
## Health Factor
The Health Factor is used to represent the healthy status of your overall borrow positions. A Health Factor (HF) below 1 means that your debt is eligible for liquidation. Your borrowings are viable as long as you maintain HF above 1, however we highly recommend you keep it above 3 to account for potential market volatility.
***HF = SUM\[(collateral in USD \* liquidation threshold)] / total debt in USD***
Mitigating Liquidation Risk:
**Monitor LTV**: Regularly check your Health Factor to ensure it stays above 1 (the point of liquidation 1).
**Maintain Collateral Buffer**: Consider depositing more collateral than the minimum required amount to create a buffer zone against price fluctuations.
**Repay Borrowings**: Repaying part of your loan can help improve your Health Factor and LTV ratio.
# Liquidations
Liquidation is a critical mechanism in maintaining the health of Amply Finance. When a borrower's position becomes undercollateralized—meaning their health factor drops below 1—their loan is at risk of liquidation.
## How Liquidation Works:
* Undercollateralization: If a borrower's health factor falls below 1, their loan is flagged for liquidation.
* Liquidation Call: Anyone can initiate a liquidation by making a liquidation call() to the Pool contract and repaying a portion or the entire loan in exchange for the borrower's collateral.
* Liquidation Penalty: To incentivize liquidations and protect the protocol, liquidators receive a portion of the seized collateral as a liquidation bonus. By incentivizing liquidations, Amply Finance minimizes bad debt and maintains system stability.
## Liquidation Penalty
A liquidation penalty is imposed on borrowers when their position is liquidated. This fee is a percentage of the liquidated collateral and serves two primary purposes:
1. Incentivizing Liquidators: The majority of the penalty is distributed to the liquidator as a reward for their role in maintaining protocol health.
2. Protocol Revenue: A portion of the penalty is allocated to the protocol's treasury.
*Example:*
If Ally borrows 80 vUSD against 100 vETH collateral (assuming both assets are valued at $1) and her position is liquidated, a liquidator who repays 40 vUSD of her debt would receive:
* 40 zkUSD: The repaid debt amount.
* A liquidation penalty (e.g., 5%) on the seized collateral (40 zkUSD \* 0.05 = 2 zkUSD).
In total, the liquidator would receive 42 zkUSD.
Important Note:
The specific liquidation penalty percentage can vary based on the collateral asset and other protocol parameters.
## Variable Close Factor
Close factor is defined as the maximum amount of debt a liquidator can repay per transaction. For example, a close factor of 50% means that a liquidator can pay off up to half a borrower’s loan at one go.
On Amply, this close factor is variable depending on a user’s Health Factor. Typically, a liquidator can repay up to 50% of a borrower's debt (close factor of 50%). However, a close factor of 100% will be applicable if HF < 0.95. This means that up to 100% of a borrower's debt can be liquidated if his health factor drops below 0.95.
## Reserve Factor
Amply sets aside a Reserve Factor - a percentage of interest that is to be allocated to the ecosystem treasury. A riskier asset typically has a higher reserve factor
# Liquidation Simulator
The **Liquidation Simulator** on Amply Finance helps you assess your risk exposure before borrowing. By simulating different collateral and debt scenarios, you can better understand your liquidation thresholds, leverage, and overall risk profile.
### Why Use the Liquidation Simulator?
* Avoid unexpected liquidations by testing different borrowing scenarios.
* Optimize your borrowing power without overleveraging.
* Gain full visibility into potential risks before executing transactions.
### How to Use the Liquidation Simulator
#### Accessing the Simulator
1. Navigate to the [Amply Finance Dashboard](https://amply.finance/dashboard/)
2. Click on the Simulation Calculator to start a new simulation.
#### Selecting Collateral & Debt Assets
3. Choose up to 6 collateral assets from the available options.
4. Choose up to 6 debt assets for borrowing.
5. Enter the amount of each selected collateral and debt asset in token terms.
6. The system will automatically convert these values to USD equivalent.
#### Understanding Your Risk
7. Once inputs are entered, Amply will automatically calculate:
* Total Collateral Value (in token and USD terms)
* Total Debt Value (in token and USD terms)
* Average Liquidation Price (Estimated collateral price that would trigger liquidation)
* Health Factor (Overall risk assessment of your position)
* Liquidation Buffer % (Your safety margin before liquidation)
* Leverage Ratio (The amplification of your position. Collateral/Debt)
* Effective Loan-to-Value (LTV) %
### Notes
* If your **Health Factor** is low (close to 1), consider reducing borrowed assets or increasing collateral.
* If your **Leverage Ratio** is **high**:
* Means you're borrowing a significant amount compared to your collateral.
* Amplifies potential gains if prices rise but also increases liquidation risk if prices fall.
* If your **Leverage Ratio** is **low**:
* Means you're borrowing a smaller amount compared to your collateral.
* Reduces potential gains but also significantly reduces the risk of liquidation
* Experiment with different collateral and debt combinations to find an optimal borrowing strategy.
* Assess whether your risk appetite allows for potential market volatility.
* **eMode (Efficiency Mode)**: Allows borrowing with higher LTV when using correlated assets (e.g., stablecoins)
# Yield Opportunity
Amply’s new Yield Opportunity feature helps you unlock the full potential of **your idle tokens in your wallet** by showing you exactly how to put them to work.
Whether you prefer low-risk passive income or more advanced leverage strategies, we’ve got the insights to help you earn more with what you already have in your wallet.
#### Where to Find It:
* On the [Market](https://amply.finance/markets/) page, click on “Best Yield .”
* Click on "Profit Strategies"
#### How It Works:
1. Amply queries your wallet balance and identifies the token with the highest value in USD.
2. If your top-held token is also supported on Amply (e.g., USDC, vUSD, zkCRO, CRO, vETH, ETH), we’ll recommend three strategy types using that token.
3. You can choose between:
* Low-risk strategy
* Medium-risk strategy
* High-risk strategy
If multiple tokens in your wallet have the same USD value, we will recommend the one with the highest yield for the low-risk strategy.
Note: If your wallet is not connected or you hold no supported tokens, we’ll prompt you to connect or bridge funds to get started.
#### Strategy Types
Each strategy includes step-by-step guidance using your highest-value token:
**🟢 Low-Risk Strategy**
No leverage required. Passive supply only.
* Step 1: Deposit {token} on Amply.
* You’ll immediately start earning more {token} with zero borrowing risk.
**🟡 Medium-Risk Strategy**
Leverage using the same token. Looping strategy with correlated asset.
* Step 1: Deposit {token} as collateral
* Step 2: Borrow {token} against this deposit
* Step 3: Deposit the borrowed {token} back onto Amply
* Step 4: Repeat steps 1–3 until you reach your desired leverage level
**🔴 High-Risk Strategy**
Leverage using a different token. Looping with uncorrelated assets.
* Step 1: Deposit {token} as collateral
* Step 2: Borrow {alternate token} (e.g., vUSD)
* Step 3: Swap the borrowed token for {token} via a DEX (e.g., H2 Finance)
* Step 4: Deposit the swapped {token} back onto Amply
* Step 5: Repeat steps 1–4 until you reach your desired leverage level
**Note**: APRs for this strategy are sourced from the Yield Matrix, using only same-token looping yields (e.g., USDC → USDC). If the **APR is negative** (borrow rate > supply rate), the strategy will be hidden, and **we’ll prompt users to explore the Yield Matrix instead**.
Example:\
If your wallet holds $1000 USDC and the APR (with max leverage) is 123.45%, your estimated extra earnings = $1,234.50 per year
This gives you a clear view of how much passive yield or leveraged return is possible — before you commit.
# Yield Matrix
**Introduction**
The Yield Matrix on Amply Finance helps you discover and maximize your yield opportunities through a powerful looping strategy. Using the Yield Matrix, it will display potential looping APRs based on different leverage levels and allows you to visualize and compare yield opportunities across various token pairs. This will help you make data-driven decisions to optimize your returns. The guide below will walk you through how to use the Yield Matrix and understand the concept of looping.
**What is Looping?**
* Looping involves:
* Supplying collateral,
* Borrowing against it, and
* Swapping the borrowed amount for the original collateral asset.
* Depositing the swapped asset back onto Amply
* Essentially, looping amplifies your position by repeatedly borrowing, swapping and re-depositing, potentially increasing your yield.
**Example of Looping**
Let's say you want to loop with ETH as collateral and USDC as the borrowed asset:
1. **Supply ETH:** You supply a certain amount of ETH as collateral.
2. **Borrow USDC:** You borrow USDC against your ETH collateral, up to the maximum allowable LTV.
3. **Swap USDC for ETH:** You swap the borrowed USDC for ETH.
4. **Supply More ETH:** You add the newly acquired ETH to your collateral.
5. **Repeat:** You repeat steps 2-4, increasing your ETH position and potentially amplifying your yield.
**Important Considerations**
* **Risk:** Looping amplifies both gains and losses. Be aware of the risks involved, including liquidation risk.
* **Market Volatility:** Market volatility can significantly impact your looping strategy.
* **Fees:** Consider any transaction fees associated with borrowing, swapping, and supplying assets.
* **Leverage:** High leverage can lead to rapid liquidation if the market moves against you.
* **LTV:** Be mindful of the Max LTV and how it affects your borrowing capacity.
By using the Yield Matrix and understanding looping, you can effectively maximize your yield opportunities on Amply.Finance. Remember to always manage your risk and make informed decisions based on your individual circumstances and market conditions.
# Using the Yield Matrix
**Step-by-Step Guide**
1. Navigate to the Amply Finance "Markets" page. (LINK)
2. Locate and click the "Best Yields" button.
3. The "Looping Yield Matrix" card will open, displaying the tool.
4. Locate the leverage slider tool. Drag the slider left or right to adjust the leverage percentage (Maximum of 100%). 100% represents “Maximum Leverage”, the highest amount of leverage based on the respective token’s max LTV ratio
5. As you adjust the leverage, the Yield Matrix will dynamically update to reflect the new APRs.
**Analyze the Yield Matrix**
* **Token Pairs:** The token pairs with the highest potential APRs for your chosen leverage will be displayed on the left side of the matrix.
* APR Color Coding:
* **Dark Green:** APR > 20% (High yield)
* **Light Green:** 0% < APR ≤ 20% (Moderate yield)
* **Red:** APR < 0% (Negative yield)
* Hover your mouse cursor over an APR value in the matrix.
* A tooltip will appear, showing a breakdown of the Data Points
**Understand the Data Points**
* **Chosen Leverage:** This represents how many times their initial deposit is effectively being utilized through borrowing and re-supplying.
* **Max Leverage:** The highest leverage possible based on the asset's Loan-to-Value (LTV) ratio.
* **Supply APR:** The annual percentage rate you earn by supplying collateral.
* **Borrow APR:** The annual percentage rate you pay for borrowing assets.
* **Net Looping APR Calculation:** The final effective yield after accounting for leverage, supply, and borrow APR
* `(leverage * supplyAPR) - [(leverage - 1) * borrowAPR]`
Using the Yield Matrix for Looping
1. **Identify High APR Pairs:** Use the Yield Matrix to find token pairs with high potential APRs (dark green).
2. **Adjust Leverage:** Experiment with different leverage levels to see how they affect the APRs.
3. **Review Data:** Hover over the APRs to understand the breakdown and ensure the strategy aligns with your risk tolerance.
4. **Execute Looping:** If you find a favorable opportunity, execute the looping strategy by supplying collateral, borrowing, and swapping.
5. **Monitor Your Position:** Regularly monitor your position and adjust your strategy as needed based on market conditions.
# Asset Listings and Risk Management
# Asset Listing Criteria
With safety and stability as our north star, we conduct thorough evaluations before listing a new asset.
Key Evaluation Criteria:
* Token Liquidity: A sufficient trading volume is essential for smooth deposits and withdrawals.
* Token Volatility: Assets with high price fluctuations pose greater risk for lenders and borrowers.
* Listing History: A proven track record and established market presence are considered.
* Oracle Vulnerability: Accurate and reliable price feeds are crucial for risk management. Factors like the number of listings on centralized and decentralized exchanges (CEX and DEX) are taken into account.
* Smart Contract Risks: Potential vulnerabilities in the asset's smart contract code can pose a security threat.
Based on this evaluation, Amply assigns a risk profile to each listed asset. This risk profile influences parameters like:
* LTV Ratio (Loan-to-Value Ratio): The maximum amount you can borrow relative to the value of your collateral. Higher-risk assets typically have lower LTVs.
* Liquidation Threshold: The point at which your collateralized loan is at risk of liquidation due to insufficient collateral value.
# Supported Assets and Parameters
Token Name
Asset
Max LTV
Liquidation Threshold
Rate Slope 1
Rate Slope 2
Optimal Utilization
Base Borrow Rate
Close Factor
Liquidation Bonus
Reserve Factor
Supply Cap
Borrow Cap
Veno USD
vUSD
80
85
5
150
85
0
50
10
7.5
0
0
USD Coin
USDC
80
85
5
150
85
0
50
10
7.5
0
0
Veno ETH
vETH
75
80
5
150
85
0
50
10
15
0
0
Ether
ETH
75
80
5
150
85
0
50
10
15
0
0
Cronos zkEVM CRO
zkCRO
75
80
5
150
85
0
50
10
15
0
0
Cronos
CRO
75
80
5
150
85
0
50
10
15
0
0
**Stablecoin E-Mode Category Parameters**
| Token Name | Asset | Max LTV | Liquidation Threshold | Liquidation Bonus |
| ---------- | ----- | ------- | --------------------- | ----------------- |
| Veno USD | vUSD | 90% | 95% | 5% |
| USD Coin | USDC | 90% | 95% | 5% |
| zkCRO | zkCRO | 85% | 90% | 5% |
| CRO | CRO | 85% | 90% | 5% |
# Smart Contract Addresses
## Core Contracts
| Contract | Address |
| ----------------------------------------- | ------------------------------------------ |
| ACLManager-CronosZkEvm | 0x6C4A080556E003Ed0628024dB814A83164E17891 |
| PoolConfigurator-Proxy-CronosZkEvm | 0x86EeC18090D412C24C61F6fe1fa94AD458F876e3 |
| PoolAddressesProvider-CronosZkEvm | 0xDA59Cc2Ee08ce5F830B1190bfed34415772Ddc57 |
| PoolAddressesProviderRegistry-CronosZkEvm | 0xc8AFD4de7E50f59107a87DB82b5F1Eb2F41D4F0F |
| PoolDataProvider-CronosZkEvm | 0x47656eb2A31094b348EBF458Eccb942d471324eD |
| PoolConfigurator-Implementation | 0x31D864780Cc862C5F6b7DEfc8627c2593339C59e |
| ReservesSetupHelper | 0x0aCE43a9DA33cA4c3D69D582E70D2Bd84a5a3f19 |
| L2Encoder | 0x5F3e99759962018e4c371128D3cA32E8E5FfE66A |
| L2Pool-Implementation | 0xE694B71bABaF620f5202afa32e7719E460f2b013 |
| L2Pool-Proxy-CronosZkEvm | 0x4643aca481f5C9843cb73Cd9ed274a1b247F3D2B |
| UiPoolDataProviderV3 | 0xCbD2125264e9F69437845Ea52FB9d23DD31B5fB5 |
| UiIncentiveDataProviderV3 | 0x4BEC5cf1408fffcC2C65fe1061fd7abd22d1BEC8 |
| EmissionManager | 0x6806b39B7A63c4FbED56B4680f86142455Cc552B |
| RewardsController-Implementation | 0xEF8f641f054392C636090d0E556131fc8D86130E |
| RewardsController-Proxy | 0x35F8fddF1d4323423D80FB3B2f3C9847c9924a2b |
| PullRewardsTransferStrategy | 0xfEd7ADfbD45907d183bD28523C9EdF1681cA9F24 |
| WalletBalanceProvider | 0x2Ce4531CB531B655006D79cc4D3FBc447d2F5913 |
| WrappedTokenGatewayV3 | 0xC273d6Df2C9b7e337Eb1dDc0067cE778bb8D3955 |
| PreAmpToken | 0xb58c0f5dc3F1FeE5f9907C5f737b3BEcCd476e61 |
| AMPLY Token | 0x66b1E42B2D5bce3D701Efa3c86Cc334d80cEEfaB |
## aToken & Related Contracts
{% tabs %}
{% tab title="aTokens" %}
| Contract | Address |
| ------------------------- | ------------------------------------------ |
| wzkCRO-AToken-CronosZkEvm | 0x1e804D576f90B5ee106cCb00AbcBaC2FF67D6C89 |
| vUSD-AToken-CronosZkEvm | 0xA2Ac6c44f87f6BB137E6BB60957a77fEB02E0ab0 |
| vETH-AToken-CronosZkEvm | 0x858b0A3cc19184420f6A7409E4a6E055031637af |
| CRO-AToken-CronosZkEvm | 0xdd9b6a49A2B12AA2Bb00a6aafC424F2040443569 |
| ETH-AToken-CronosZkEvm | 0xBc11Fd5cb7f6D57C71Bc9DFBFDa767e5a1552A58 |
| USDC-AToken-CronosZkEvm | 0xa865aF611595cB64D1CB13928535B43bB787C212 |
| {% endtab %} | |
{% tab title="DebtTokens" %}
| Contract | Address |
| ------------------------------------ | ------------------------------------------ |
| wzkCRO-VariableDebtToken-CronosZkEvm | 0xB57A47D9C4e235248433968EE6CC961d51467EE7 |
| vUSD-VariableDebtToken-CronosZkEvm | 0x8bC64CcB9B7aC27f7594757D4b907DB34D357D1D |
| vETH-VariableDebtToken-CronosZkEvm | 0x5A9B8B145147094E0d0c78a96Dc35107FA1bdd24 |
| CRO-VariableDebtToken-CronosZkEvm | 0x736CDB7cbCB1C081dAafeE6983fc1F867F6c1f23 |
| ETH-VariableDebtToken-CronosZkEvm | 0x69834082b3b260eE196cc20AbdBEad107649B281 |
| USDC-VariableDebtToken-CronosZkEvm | 0x6d9c1E8Fc75e9d84438C98207DfaA26f0FC7cC4b |
| {% endtab %} | |
{% tab title="Related" %}
| Contract | Address |
| ---------------------------------- | ------------------------------------------ |
| AToken-Implementation-CronosZkEvm | 0x669E271F4BF58AB4936A7AAC90EB363579Ef612F |
| VariableDebtToken-CronosZkEvm | 0xCF60ea08124066bab2AFbfe6643bEF766232Ab0c |
| ReserveStrategy-rateStrategyCRO | 0xBdF6d6ccCb90077f34138b75f973fbAc6dc15C2c |
| ReserveStrategy-rateStrategyETH | 0x0F2d35068a2692EA5414EcAf35dd40Bfa3559556 |
| ReserveStrategy-rateStrategyUSDC | 0xfD54B907BD7790d4eB3c4063B9f2B4D0E5386Ac1 |
| ReserveStrategy-rateStrategyVETH | 0x7d25c49c9a68Ab4916b573eA196c86dB40FB0CD5 |
| ReserveStrategy-rateStrategyVUSD | 0xAE5a49026433f4a7179e62b18c188ff7Bc669851 |
| ReserveStrategy-rateStrategyWzkCRO | 0xfC3bD7eE08C7275D15Acb7A8372287E6c82fb4EC |
| {% endtab %} | |
| {% endtabs %} | |
# Paymaster
Paymasters in Crypto: Simplifying Gas Fees
In the realm of crypto transactions, gas fees can be a hurdle for users. Paymasters emerge as a solution to streamline gas fee management, allowing users to pay gas fees with ERC20 tokens. They act as smart contracts that sponsor transactions on behalf of users, offering several advantages:
* Flexible Payment Options: Paymasters open doors to diverse payment methods. Instead of solely relying on the blockchain's native currency, users are allowed to pay with a variety of ERC-20 tokens, like stablecoins, through integrations.
* Passive Payments: Users no longer need to manually handle gas fees. Paymasters can cover the cost automatically, enhancing user experience.
* Secure Payment Guarantees: Paymasters ensure that gas fees are paid, safeguarding the network from malicious actors who might exploit free transactions.
We have partnered with Zyfi’s Paymaster, which allows us to expand the range of tokens you can use to cover gas fees.
For more information, please check out the following article:
**How Paymasters Work on Amply**
1. Initiate a Transaction: Before completing a transaction on Amply, you can select which token to use to pay for gas.
The tokens that can be used for gas will be listed in the paymaster dropdown menu. You can select any of these tokens as long as you have them in your wallet:
2. Paymaster Takes Charge: The paymaster sees the transaction and assesses the associated gas fees.
3. Payment Approval: User approval might be necessary before proceeding.
4. Gas Fee Settlement: The paymaster settles the gas fees using your chosen gas token
5. Transaction Execution: The transaction is broadcast to the blockchain for processing.
**Tokens available to be used for gas on Amply (may be subject to change):**
* zkCRO
* vUSD
* vETH
* CRO
* wBTC
* MOON
* H2
* AMPLY
# Amply Finance Terminology
### Understanding aTokens and Debt Tokens
* aTokens: As mentioned earlier, aTokens represent your share of a lending pool and any accrued interest on your deposited crypto asset. As you earn interest, your aToken balance will increase over time. They are tradable and can be used in DeFi applications that integrate with Amply. aTokens will be burnt when you withdraw your assets.
* Debt Tokens: When you borrow an asset on Amply, you receive a corresponding debt token representing your outstanding loan obligation. This includes the principal borrowed amount and any accrued interest. Debt tokens are not tradable. These debt tokens will be burnt upon repayment of your debt.
### Health Factor
The Health Factor (HF) represents the health of your debt position - the higher the value, the safer your position is from getting liquidated. A health factor above 1 means that you are not yet at the point of getting liquidated. However, it is typically recommended to maintain a HF of above 3 in order to lower your chances of getting liquidated.
HF = SUM\[(Collateral USD \* liquidation threshold)] / SUM(debt USD)
If HF < 1; a liquidation will be triggered
### Reserve Factor
Amply sets aside a Reserve Factor - a percentage of interest that is to be allocated to the ecosystem treasury. A riskier asset typically has a higher reserve factor.
### Supply Caps
A supply cap is the maximum amount of an asset which can be supplied to the protocol. This parameter limits Amply’s exposure to a potentially risky asset. When a token’s supply cap is hit, you will be unable to deposit more of that asset.
### Borrow Caps
A borrow cap is the maximum amount of an asset which can be borrowed. This parameter can be used to prevent heavy borrowing of an asset in order to conduct a price exploit.
### Net Weighted APR
Net APY is the weighted interest rate from supply and borrow positions, including incentives. Net APY may be negative if debt is higher than supply APY
Net Weighted APR = \[sum(USD supplied \* net supply APY) - sum(USD borrowed \* net borrow APY)] / sum(USD supplied)
# Contact Us
## Let's Build Something Great Together!
Amply Finance is always seeking strategic partnerships to enhance our platform and deliver more values to our users.
## Ready to collaborate?
[Amply Partnership Form](https://airtable.com/apppqkyNLuLZwe79b/shr9rgP6y0TrM7tTt)
By joining forces, we can leverage our combined strengths to deliver enhanced value to our fellow crypto travellers. We look forward to hearing from you!
## Social
Twitter:
Discord:
Telegram announcement channel:
# Brand Assets
**Amply Brand Guidelines:**
We welcome the use of Amply's brand assets to promote our platform and foster community engagement. However, it's essential to use them responsibly. To help maintain Amply's brand integrity, please follow these guidelines when using our brand assets:
Do:
* Use Amply's logo and colors correctly.
* Promote Amply in a positive and professional manner.
* Respect Amply's intellectual property.
* Report any misuse of the brand.
* Contact us for any questions.
Don't:
* Modify the logo without permission.
* Misrepresent Amply or its products.
* Harm Amply's reputation.
* Use Amply's brand for unauthorized commercial purposes.
* Imply partnerships or endorsements without official approval.
* Use Amply's brand with other brands without authorization.
By following these guidelines, you'll help us maintain a strong and consistent brand identity.
**Main Logos:**
{% file src="/files/IgNuzbSJtyr2AmpGFiMm" %}
{% file src="/files/OcGQcjBmjSsb1K0KYBfP" %}
# Audits
{% file src="/files/pD1wVO0IcuoK6caYGdte" %}
# Risk Disclosure
The Amply Finance protocol (“**Protocol**”) is a set of smart contracts made available by Amply Finance on a voluntary, “as-is” and “as available” basis. It is not a service of any kind and you should not rely on Amply Finance to assist you to evaluate the Protocol, assess its fitness for any purpose or comply with any requirements. You assume all risks arising from interactions with the Protocol including without limitation all applicable legal and regulatory risks in connection with the use and interaction with the Protocol, including with respect to any transactions. Nothing stated relating to the Protocol is a prospectus nor a solicitation for investment and does not pertain in any way to an offering of securities in any jurisdiction. Nothing stated related to the Protocol constitutes a recommendation or advice of any kind. Amply Finance is not liable for any claim, damages or other liability, whether in contract, tort or under any other theory of liability, arising from, out of or in connection with the Protocol.
There are several risks when using the Protocol. These risks include inherent risks associated with the use of a virtual platform, the decentralized nature of the Protocol, and participating in virtual asset transactions. Risks include, without limitation:
* Partial or total loss of virtual assets, including any value attributed to virtual assets;
* Collapse in liquidity with respect to virtual assets;
* Changes in compatibility of a virtual asset with the Protocol;
* Changes in the smart contracts;
* Regulatory uncertainty and government action against virtual assets and persons involved in virtual asset activities;
* Extreme volatility with respect to transaction parameters and value attributed to virtual assets;
* Possibility of market misconduct by participants including for example market manipulation, trading on the basis of non-public information, and front running;
* Delays in or complete failure of virtual asset transactions being confirmed;
* Counterparty risk;
* Faults, defects, hacks, exploits, errors or unforeseen circumstances occurring in respect of the platform or the technologies that the Protocol depends on;
* Loss of private keys; and
* Attacks on the Protocol or the failure of the technologies that the Platform depends on including for example distributed denial of service, sybil attacks, phishing, social engineering, hacking, smurfing, malware, double spending, majority-mining, consensus-based or other mining attacks, misinformation campaigns, forks, and spoofing.
This list of potential risks is not exhaustive and is not intended to capture the extent of all possible risks. In the event of any of the above occurring, you may lose your virtual assets entirely. Participants should consider all of the above and assess the nature of, and their own appetite for relevant risks independently and consult their own professional advisers before making any decisions to participate in the Protocol. PARTICIPANTS USE THE PROTOCOL AT THEIR OWN RISK.
# AMA Transcript
Aug 29 - Amply AMA Transcript
Dear Amply Finance Family,
We held an AMA session on Discord on Aug 29th, 2024, with Kronaz from Amply Finance where she took the time to answer user questions. Below is a summary of the AMA. Please enjoy!
**AmplyIntern (Host):** We were super excited for our Launch on Tuesday, August 27th. Amply Finance has already gotten quite a bit of love from the community. As of the time of this AMA, we have just over $4.0M dollars of crypto supplied and just over $2.0M crypto borrowed, which are amazing numbers to say the least. Please make sure to follow us on [X](https://x.com/amplyfinance) and [Discord](https://discord.com/invite/Yd49zXmuJN) at @amplyfinance and make some noise! Today, we want to take the opportunity to answer some questions regarding Amply Finance. We have an expert, Kronaz, here from the Amply Finance team to help us with this task.
**AmplyIntern (Host):** So, Kronaz, *What can users do on Amply?*
**Kronaz (Amply Finance):** Thanks, AmplyIntern. Amply Finance is a lending platform, serving two main functions: you can lend assets and you can also borrow assets. If you like a certain token and you want to hold it long term, you could supply it onto Amply and earn passive income. On the flip side, you can borrow other tokens on Amply. If you have already supplied tokens, you can use the supplied tokens as collateral to borrow other tokens, up to a certain LTV (loan to value) ratio. Please note as a borrower, you will have to pay a variable borrowing fee. In addition, you’ll need to ensure that you carefully monitor your debt position so you don't get liquidated and lose your funds. Right now as of launch, we have six markets for users to lend and borrow from: zkCRO, vUSD, vETH, ETH, CRO and USDC.
**AmplyIntern (Host):** *What makes Amply Finance different?*
**Kronaz (Amply Finance)**: First off, we are the first lending protocol on Cronos ZK. One of the value propositions of this chain is that users get to earn triple yield. First, from the yield bearing tokens like zkCRO, vUSD and vETH. Second, from DeFi yield, which is yield that you can earn from Amply itself. And lastly, from loyalty points, which are points that you can accumulate as part of the pioneer program. This is how users can be rewarded on multiple fronts. In addition, what also differentiates us is that Amply has integrated Paymaster, meaning users of Amply can choose from a variety of tokens to pay for gas. I think that's one innovation within the ZK ecosystem that is quite unique.
**AmplyIntern (Host):** *How do users use Amply?*
**Kronaz (Amply Finance)**: Going back to the initial question, there's two ways to use Amply: you can either be a supplier or you can be a borrower and leverage up. Supplying is a way for you to passively earn yield. Meanwhile, borrowing and leveraging up can grant you exposure to other tokens. Amply Finance is a great platform for users if you want a short a token or add more exposure to a token that you're long on.
**AmplyIntern (Host):** *What is a $PreAMP and $AMPLY token?*
**Kronaz (Amply Finance)**: $preAMP is our incentive token to reward early users. It's also a way for us to bootstrap the initial liquidity on the platform. Given it is non-transferable and has no monetary value, it is similar to collecting points which will eventually be used to redeem for the $AMPLY tokens. The $AMPLY token will have monetary value. We haven't announced the full details for the $AMPLY token yet but there will be a vesting period, meaning you can only convert a portion of your $preAMP to $AMPLY at any one time.
**AmplyIntern (Host):** *What is next for Amply Finance?*
**Kronaz (Amply Finance):** Ultimately, we want Amply to be something that users want to use, not just for farming tokens. The features we currently offer are basic, so the next step for us is really focusing on building up the foundational layer. This will include efficiency mode, so that certain correlated token pairs will have higher borrowing power. Also, we want to look into isolation mode, which a lot of users have requested for. These are the building blocks that will ultimately enable us to do more in Amply and will hopefully allow us to add more features, like listing smaller cap tokens with low liquidity and introducing leverage yield strategies like looping or shorting as well.
**AmplyIntern (Host):** *What sets Amply apart from other lending protocols like Tectonic?*
**Kronaz (Amply Finance):** Looking at Tectonic, it obviously has very deep liquidity. However, the liquidity is very much focused on the Cronos side. For us, we are leveraging the ZK infrastructure. Potentially, in the future, we can see us enabling seamless bridging to other ZK rollups. Right now, we're using Paymaster and we can hopefully have more account abstraction features to enable better user experience of the platform. I also think we have more use cases for the markets that we list because of the larger ecosystem, so there would be more compelling reasons for users to borrow on Amply.
**AmplyIntern (Host):** *How is Amply securing itself against exploits? For example, Flash Loan attacks?*
**Kronaz (Amply Finance):** Risk management is a huge priority for us and we approach it on multiple fronts. The first line of defense is our own internal monitoring system. We have methods to detect any unusual on-chain activity. If we detect unusual activity, we have a kill switch allowing us to pause activity on Amply until the issue has been resolved. We also have robust oracles that pull data from multiple sources like centralized exchanges, decentralized exchanges and other oracle providers. This means the prices you get on Amply are an aggregation of these multiple sources which helps to mitigate a lot of potential exploits of oracles. Lastly, as a last line of defense, we are currently in talks with some external security partners. These are companies that will monitor for potential exploits and seek to intercept any kind of malicious smart contract transactions. This is still in the early stages, but it’s something that we're exploring to help make our risk management more robust.
**AmplyIntern (Host):** *Will Amply token be decentralized? Will Amply token be the governance token and if yes, when will be the DAO?*
**Kronaz (Amply Finance):** I think this is a really great idea. We want to get the community engaged with building Amply with us and to collect real ideas from users. I think we are still exploring ways in which we can use the Amply token and we will share more concrete details in the future.
**AmplyIntern (Host):** *Will you have isolated lending markets for more high risk assets in the future?*
**Kronaz (Amply Finance):** Short answer: Yes. This is something that we'll be working on in the very near future.
**AmplyIntern (Host):** *Will you incorporate leverage farming?*
**Kronaz (Amply Finance):** Yes, as well. It's a very interesting idea. We are seeing a lot of other protocols doing this. Once we release, for example, isolation mode and efficiency mode, this is something that we're looking to build as well.
**AmplyIntern (Host):** *Can we stake $AMPLY in the future and what are the utilities?*
**Kronaz (Amply Finance):** For $AMPLY token, yes, there will be staking. This will be announced once we have confirmed our TGE (Token Generation Event). For other utilities, we are looking to integrate with other Dapps in the ecosystem and will be releasing more details on Tokenomics as well as TGE date soon. Please hang tight and stay tuned!
**AmplyIntern (Host):** *Will Amply support other chains in the future or only focusing on Cronos zkEVM?*
**Kronaz (Amply Finance):** This is the likely plan. One of the reasons why we launched on a ZK rollup is to take advantage of the infrastructure like seamless for more efficient asset transfers. With that said, the ecosystem of the ZK Stack is quite new so we're still monitoring and looking for opportunities to see where we can go next.
**AmplyIntern (Host):** *Have you considered how to attract or retain users without issuing platform tokens?*
**Kronaz (Amply Finance):** Tokens are a great way to attract users and bring liquidity in. But, retaining users is still very top of mind for us. It's a really high priority. So we're exploring a variety of strategies to improve user experience and also engagement. The specific details about this will definitely evolve over time but right now, our focus still remains on building a very strong community and delivering value to our platform.
**AmplyIntern (Host):** *Would the platform consider implementing an automated yield strategy feature where users can choose to have their idle collateral automatically deployed into yield-generating strategies (like staking or farming) until it's needed to back loans?*
**Kronaz (Amply Finance):** This is a great question. It could be part of our road map in terms of what kind of yield strategies we can provide for users. So yes, we are definitely looking at this.
**AmplyIntern (Host):** *Why did Amply choose Cronos zkEVM to launch and how do you plan to use ZK technology in the near future?*
**Kronaz (Amply Finance):** We wanted to build on a Layer 2 and leverage the network effect from building on Ethereum. However, a lot of the Layer 2s are quite saturated as there are already quite a few large lending players. On the other hand, Cronos zkEVM was new and it gave us an edge in being first. Also, we really liked what the ZK stack had to offer, such as the Elastic Chain.
**AmplyIntern (Host):** *What is the role of oracle services in your protocol, and how do you ensure the accuracy and reliability of price feeds?*
**Kronaz (Amply Finance):** Oracles are very important as their main role is to determine the prices of assets on Amply. They are especially important for ensuring liquidations are conducted successfully and efficiently. This is the most important reason because we need to ultimately maintain the overall health of the protocol. To ensure accuracy and reliability, we take prices from multiple sources and then we aggregate the prices from these sources. So the oracle is continuously monitoring for any anomalies. If it detects one of the price sources may have been compromised or could have been corrupted, then this source will be excluded until the issue is fixed.
**AmplyIntern (Host):** *Will any of the ecosystem tokens in the zkEVM network projects like H2 or MOON or FUL look to be incorporated into the platform at all?*
**Kronaz (Amply Finance):** Yeah, I think it's a high possibility. Once we set up isolation mode, which will help to isolate the risks related to these small cap tokens, then yes, we'll definitely consider these kinds of tokens.
**AmplyIntern (Host):** *Will the $Preamp be vested out or convertible to $AMP after the Token Generation Event is offered, meaning is vesting/waiting period just a strict 1:1 conversion?*
**Kronaz (Amply Finance):** Yes, the $preAMP will be vested. At this point, we haven't disclosed the percentage of vesting and as well as the waiting period. With that said, to give you an example, let’s say at TGE, if you have 100 $PreAMP, then you will be entitled to receiving 100 $AMPLY tokens. However, you can unlock only a portion of it at the TGE itself. As for the rest, you can either decide to wait for it to unlock over a period of time or you can stake it in our vaults as the staking vaults will be available at TGE. Therefore, you could stake it and continue to earn yields on top of your tokens instead of waiting for it to vest.
**AmplyIntern (Host):** *As per your documentation, under Liquidations Calls: “Anyone can initiate a liquidation by making a liquidation call() to the Pool contract and repaying a portion or the entire loan in exchange for the borrower's collateral". How does one do this?*
**Kronaz (Amply Finance):** So anybody technically can be a liquidator and you can earn that liquidation bonus. But the caveat is that you do need to be technically proficient. You need to have the infrastructure in place to be able to monitor the loans on Amply and to detect any unhealthy loans. You may also need to build a liquidation bot which will be used to trigger any liquidations. And most importantly, because there will be other third party liquidators out there, you need to have the bot that's fast enough to be first in line to liquidate successfully. So while it is possible to be a liquidator on Amply, it's not quite as simple as it seems.
**AmplyIntern (Host):** *When will you add BTC to Amply?*
**Kronaz (Amply Finance):** Bitcoin was initially on our list of tokens to add. However, they had some recent developments on BitGo’s side, which is the team behind the wBTC business. They introduced some potentially unknown counterparty risks when they set up a joint venture with Justin Sun and the Tron ecosystem. At this time, we are unsure about what risks could be involved. In addition, there are other larger protocols like MakerDAO and AAVE who are also moving towards reducing exposure to wBTC. So at this point, we're still monitoring the situation and also looking for some other potentially viable wrapped Bitcoin alternatives.
**AmplyIntern (Host):** *Will there be a NFT collection integration?*
**Kronaz (Amply Finance):** Yes, I think there's a possibility to add this feature. However, from what I see, I don't think there is much NFT activity on Cronos zkEVM right now. But once it's ready, we're definitely open to implementing this.
**AmplyIntern (Host):** *When will you be listed on DeBank?*
**Kronaz (Amply Finance):** As of today (Aug 29, 2024), we are listed!
**AmplyIntern (Host):** *What happens to the rewards from the APR of vUSD and vETH ? How does the protocol use these?*
**Kronaz (Amply Finance):** Great question. If you supply vUSD and vETH, any extra yield that users earn will be given back to you. We are still working on the mechanics on how to do this but it will likely come in the form of a yield refund that users can claim on the dashboard.
**AmplyIntern (Host):** *Any plans to add Isolated Margin, Collateral Liquidation Price, and LTV%?*
**Kronaz (Amply Finance):** For Isolated Margin (I'm guessing, that's isolated lending pools), yes, we have plans to add this. For Collateral liquidation Price, we will look into this feature. And lastly, LTV% (I'm guessing this is a user LTV%). We measure LTV on AMPLY using the Health Factor, which is available on the dashboard. The Health Factor is an absolute number. If your Health Factor is below 1, it means that you will be liquidated and if you are above 1, it means that you are safe.
**AmplyIntern (Host):** *Any plans to add analytics and how soon if so? (For example: fees, liquidations, repays, protocol revenue)*
**Kronaz (Amply Finance):** It's definitely part of the roadmap. We are currently working on features that we want to prioritize right now and we'll share a road map with the community soon.
**AmplyIntern (Host):** *Any plans to add lending options for all tokens supported In Fulcrum Finance?*
**Kronaz (Amply Finance):** The only token that we don't support right now is BTC, which we have previously mentioned why we are still considering the options. With that said, we support vUSD and vETH.
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**AmplyIntern (Host):** *Would you consider community votes for added isolated tokens?*
**Kronaz (Amply Finance):** Yeah, that’s definitely a great idea. Ultimately, we want to list tokens that users want. There are a lot of risks to listing smaller cap or illiquid tokens. We definitely want the community to be involved but we still need to be able to make sure that any token that's voted undergoes and passes our risk assessment.
**AmplyIntern (Host):** *Which oracle are you guys using? I don't think chain link is live yet on zkCronos.*
**Kronaz (Amply Finance):** There definitely aren’t many oracle providers available yet. We approached Jay from the CronosZK team about this and they offered us the use of their own in-house oracle, which is what we have integrated at launch. I believe Fulcrum also uses this oracle as well and we think it's relatively robust. It takes prices from various sources and has a pretty good risk monitoring infrastructure. There's likely an interim solution for us while we wait for more providers to come onboard.
**AmplyIntern (Host):** *Will you have an option to repay debt with collateral deposited on the platform?*
**Kronaz (Amply Finance):** I think this is a really great idea. It's a really useful function when I use other platforms. I'm definitely looking forward to seeing this.
**AmplyIntern (Host):** Thank you to our amazing community for submitting these questions. As we still have some time left, we will answer any questions the Discord audience may have. First question, *When is the AMP TGE planned? Weeks away? Months away?*
**Kronaz (Amply Finance):** It’s likely more months away. What we want to do is have the $preAMP program run for a while longer and let early users accumulate the $preAMP. Then, we will launch the TGE.
**AmplyIntern (Host):** The Speaker knows her stuff!!! Thank you for this. *Maybe next time, we should conduct this AMA on X so it’s recorded.*
**Kronaz (Amply Finance):** We can potentially explore other platforms to do this voice chat. I know it would be very useful to have it recorded, that's for sure.
**AmplyIntern (Host):** *Will swap features be added?*
**Kronaz (Amply Finance):** This would be really good to have. Ultimately, I think our goal is to keep users on Amply. Having a swap feature and a bridging feature could be really good features to add.
**AmplyIntern (Host):** *Will other pools be formed?*
**Kronaz (Amply Finance):** There won't be pools. Amply doesn't have isolated pools but we have isolated assets. These assets will have restrictions around how it can be used for borrowing other tokens. For example, if we list a small cap token, a restriction could be that you can only borrow stablecoins against this token, thus making it different from Tectonic in a sense.
**AmplyIntern (Host):** *Is USC from Cronos coming to markets? Or PayPal USD?*
**Kronaz (Amply Finance):** For USC or Paypal USD, I'm not sure. We might have to check with the Cronos zkEVM team on that one. Ultimately for lending protocols, we typically wait for tokens to be listed on a DEX on Cronos zkEVM before we look into adding it to our platform. The reason is because we need to monitor the liquidity and there's really no use case for us just to list it on Amply if there's no trading or no volume on the chain itself. Therefore, we usually see what's available on a platform like H2 Finance before we decide what to add.
**Kronaz (Amply Finance):** Thank you everyone for your questions. We definitely want to hear more from you about your ideas, and about what you think would be good features to add to our lending platform. If you want to share more of your feedback, please post in our Discord feedback channel and I'll try my best to reply to them.
**AmplyIntern (Host):** Thank you to Kronaz from the Amply Finance team. Once again, I want to thank those of you who have submitted questions to our Discord channel. I also want to thank all of you who are attending this call. Lastly, thank you all for the incredible support you’ve shown for Amply. Remember to subscribe to our [X](https://x.com/amplyfinance) and [Discord](https://discord.com/invite/Yd49zXmuJN) page @amplyfinance!
See you guys next time!
