KETJU Research

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Ample

Not approved Too small to exit at size
Issued
2026-08-15
Last confirmed
2026-08-15
Next check due
2026-11-15
Chains
Base · Mixed control, Monad · Governed, no freeze, BNB Smart Chain · Issuer can freeze, Solana · Governed, no freeze, Arbitrum One · Mixed control, Hyperliquid / HyperEVM · Issuer can freeze

Ample is a prize-linked savings protocol. Depositors keep their USDC principal and pool the yield, which is paid out as prizes through weighted on-chain draws. The August 15, 2026 survey reported about $4.65M across seven chains. That is below our size floor, so we do not open an individual review until it clears the floor. Current evidence identifies separate ERC-4626 or Solana vault integrations but does not show that anyone can choose a new allocation after a deposit within a named vault. No more basic existing review therefore takes priority over the v1 size rule.

The research file

Applicability to the surveyed record

Ample describes a prize-linked savings product. Users deposit, build participation weight over time, and receive chances to win recurring prizes funded by yield from supported Euler, Morpho and other money-market strategies. The yield does not accrue pro rata to every depositor. The current evidence describes vault-level integrations, not a curator who can freely change a named depositor’s strategy after entry, so this aggregate record does not meet the test for delegated allocation.

Current observation and perimeter

The DefiLlama API read on 2026-08-15 classified Ample as a Yield Lottery and reported approximately $4.65M across Base, Monad, Binance, Katana, Solana, Arbitrum and Hyperliquid L1. Its method measures each EVM ERC-4626 vault and Solana vault PDA and marks deposits into destination protocols as double counted. The live total remains far below the shared v1 size floor, so we do not open an individual review until it clears that floor.

Control and exit applicability

Ample says payout eligibility uses time-weighted balances and weighted randomness, with results published through on-chain Merkle roots. Users may withdraw, but a withdrawal can affect prize eligibility. Principal also carries the risks of the selected Euler, Morpho, Jupiter Lend, smart contract, chain and market. rL3 incentives have separate six-month vesting and forfeiture rules and do not show that principal can be readily withdrawn.

Why the class rule decides

The shared v1 size rule decides the current protocol record. That does not mean Ample is defective or that prize-linked suitability has passed. We do not open an individual review until it clears the size floor. Reopen only after reproducible protocol TVL remains at least the size floor for 30 days. Then review each named vault’s fixed strategy and authority to change it, draw controls, legal and suitability treatment, underlying losses, audits, incentive economics, and capacity to handle a withdrawal of the proposed size.

Research status

This is a capacity-unproven record for Ample, not a quality rejection or approval. Reported TVL says how big the venue is, not what the client owns, who can change the rules, or how a position exits at a proposed size. The individual review opens when the protocol clears the size floor.

Sources

The claims above trace to these. Where a number could not be independently verified, the thesis says so.

Inherited controls

The research above describes the protocol layer. Every position also inherits the asset it holds and the chain it settles on. The layer with the most administrative power sets the position’s effective control; that describes control, not quality or suitability.

ChainVerdictControlControl constraint
BaseApproved with limits Mixed control Coinbase, one regulated US company, operates the only sequencer, and admin keys can upgrade bridge contracts within ~7 days.
MonadApproved with limits Governed, no freeze the L1 has a public validator path, but its short production record, single initial client lineage, and Foundation-directed delegation keep stake and operations concentrated.
BNB Smart ChainRejected Issuer can freeze the validator set concentrates around one company, and the chain has been halted by decision.
SolanaApproved with limits Governed, no freeze no admin key can seize funds, but stake concentration and a sub-25 Nakamoto coefficient are the standing watch items.
Arbitrum OneApproved with limits Mixed control a single sequencer orders >99% of transactions and admin keys can upgrade bridge contracts on a ~7-day timelock.
Hyperliquid / HyperEVMRejected Issuer can freeze a 21-validator permissioned set operates both the chain and its bridge. One compromise reaches both.
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