> For the complete documentation index, see [llms.txt](https://docs.earnpark.com/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.earnpark.com/earnpark-protocol/whitepaper-executive-summary.md).

# WhitePaper Executive Summary

EarnPark On-Chain Protocol is infrastructure for issuing freely transferable wrapper tokens for individual underlying assets and launching multiple yield products on top of each such wrapper.

The system is divided into two layers. \
The first layer is the **wrapper rail**. For each underlying asset, a single wrapper token is created. For example, for the USDT series this may be USDEP, for the WETH series — ETHEP, for the WBNB series — BNBEP. The user deposits the underlying asset through an AML-gated entry, receives the wrapper, and can freely hold, transfer, or use it within the ecosystem.

The second layer is **strategy products**. On top of a single wrapper, multiple strategies can coexist: for example, USDEPStrategy1, USDEPStrategy2, and USDEPStrategyPrime. The user decides whether to stay in the base wrapper layer or convert the wrapper into one of the yield products.

{% hint style="info" %}
**Why this architecture matters:** it simultaneously preserves a single clean base wrapper per asset, multiple strategies on top of the same rail, and a clean separation between protocol revenue and user yield.
{% endhint %}

## 2. The Problem the Protocol Solves

In the digital asset market, it is difficult to satisfy several requirements at once. Users need an asset that can be **freely moved** and used as a base unit of liquidity. At the same time, **compliance control at the level of boundary operations** is required at entry and exit. Finally, investors need access not to a single product, but to a **lineup of strategies** differentiated by risk, duration, and target yield.

Typical DeFi designs often break down at this intersection. If a token is too tightly controlled, it loses utility. If it is completely unrestricted, the compliance framework becomes weak. If the base wrapper and yield are mixed into a single product, it becomes difficult to separate the reserve, user profit, and protocol revenue.

EarnPark On-Chain Protocol proposes an architecture in which these tasks are separated into distinct layers: compliance lives at the system's boundaries, the freely transferable wrapper resides in the base layer, and user yield sits in separate strategy products.

## 3. EarnPark On-Chain Protocol Org

EarnPark On-Chain Protocol is organized around the concept of a **Series**. \
Each Series corresponds to one underlying asset and includes a single wrapper token, a single reserve, a single gateway, a single AML policy for mint/redeem at the boundaries, and a single reserve adapter for productive storage.

| Level    | Components                                                                         | Role                                     |
| -------- | ---------------------------------------------------------------------------------- | ---------------------------------------- |
| Series   | Wrapper token, reserve, gateway, AML policy, reserve adapter                       | Base clean asset rail for one underlying |
| Strategy | Separate pool, strategy share token, yield parameters, fees, cooldown, risk limits | Yield product on top of a single Series  |

Taking the USDT series as an example: inside it exists a single USDEP wrapper, and on top of it multiple strategies can operate. This means:

* one asset — one wrapper;
* one wrapper — many strategies;
* each strategy — a separate product with its own economics.

## Series Example

| Series      | Wrapper | Strategies                                         | Exit                                               |
| ----------- | ------- | -------------------------------------------------- | -------------------------------------------------- |
| USDT Series | USDEP   | USDEPStrategy1, USDEPStrategy2, USDEPStrategyPrime | Redemption back into USDT via boundary payout path |
| WETH Series | ETHEP   | ETHEPStrategy1, ETHEPStrategyMarketNeutral         | Redemption back into WETH via boundary payout path |


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