Recap Of AMA #5 With Centaur Co-founder
Thank you for being a part of the AMA with Centaur’s Co-Founder Sean Kor yesterday (April 1st).
For all those who couldn’t join us for the AMA, please find the transcript of the AMA.
Please note: Apart from the order of a few questions & minor spelling corrections, the rest of the text of the AMA remains unchanged.
[Transcript: Update From Sean]
Hey hey Centaurians, for today’s AMA, we’ll be focusing on the launch of Hadar and what we can expect moving forward
Feel free to ask questions and I’ll answer them as I go along
There were also some that came in this morning so I’ll address them towards the AMA if there’s no overlap
Hadar is something we built from the ground up to function as a DeFi centric wallet and to support our upcoming products, some of which are pretty different from existing solutions in the industry.
We’ve had a choppy launch due to some delays in the app store reviews process. For reference, both versions (Android and iOS) were submitted early last week. We expected the Apple store to take a bit more time but we were surprised by the extended review process for Google.
From our tech team, it seems that there was an adjusted work schedule which may have contributed to the duration.
To account for that, we rebuilt and bug tested the apps with compatibility for Microsoft Visual Studio’s App Center in mind so that it would be possible to push out a version yesterday.
Once it is live on Google and Apple’s respective stores, we will be sure to drop an update in the group.
This should also be the only instance where there is an impact to the timeline as we are working with external vendors, putting the situation out of our control.
For Centaur Swap and the mainnet, the platforms will be rolled out by us directly and we do not foresee any adjustments to the timeline.
Hadar is launched with compatibility for BTC, ETH and all ERC20 tokens. We will continue to upgrade the UI/UX elements and also start to onboard more protocols from this point on. We’re also planning to integrate DeFi Dapps directly into the app in future!
I’d also like to take a moment to talk about our partnership with Pocket (POKT).
All wallets and platforms need a way to interface with the blockchain via the nodes in the network. However, node operations and management are challenging, time consuming and resource intensive endeavors. Often, developers would utilise APIs provided by specialised node operators such as Infura, who are often centralised by design. In Pocket’s case, they run a decentralised network of nodes, allowing anyone to provide these services while also enabling project teams like us to work with frameworks we are familiar with. This partnership is a deep level integration by both projects and we’re really happy to be among the first few products using it in a live environment.
Question: With v2 staking ending soon, can we expect to have some yield farms for centaur swap? us centaurians need to earn some sweet sweet apys
Sean: Yeap! As I’ve shared before, we stopped deposits for V2 although stakers will still continue to earn rewards until the cutoff date. We’re forecasting the end date of this to be when the last deposit completes its 90 day lock. It seems the last deposit was 35 days ago so the tentative date would be June 5th. Stakers can withdraw their CNTR at any time once the 90 day lock is complete.
With the launch of Centaur Swap, we are designing a farm to support it and there will definitely be staking programs in the near future!
Question: When to expect staking on Hadar ?
Sean: We will be releasing information relating to staking for Centaur Swap in the coming days so stay tuned for that!
Question: Hi Sean, are you actively seeking feedback from the community on the Hadar release?
Sean: Yeah for sure we’re definitely open to feedback from all users. We’ve setup a dedicated email address email@example.com to manage these in case they are missed in the chat here but all the communication channels are equally open.
Question: What’s the story behind the name [Hadar]?
Sean: Hadar, also known as the Beta-Centauri, is one of the brightest stars in the southern constellation of Centaurus. It symbolises our vision for Hadar as the guiding light to navigate through the universe of blockchain and cryptocurrencies
Question: Does this project have more regulatory hurdles or technical hurdles ahead of it in the near and long term?
Sean: I think we’re facing a good mix of both at the moment, although regulatory hurdles are more on the CeFi side when onboarding institutional investors and our Fintech partners. The DeFi products definitely face more challenges on the technical side, especially considering the new technologies that we are working with.
Question: Any plans on expanding the team? How big is the team now? What kind of talent are you looking for in the short term and long term?
Sean: Partially answered earlier with our plans to onboard a communications lead, and I’m sure every project is always on the lookout for more talented developers too!
Question: With the change of focus towards Centaur Swap and away from the lending platform, who do you see as your main competitors at this stage? UNi V3, Pancakeswap?
Sean: Ah I was getting to this but the scope of this question is larger than the others so I was planning to knock out the quick ones first haha
Right so we are still planning to integrate yield enhancement solutions into Centaur Swap (the original plan was to combine lending with DEX LPs for increased capital efficiency) but due to the massive number of upgrades we added, we had to push that to the future to work with a phased rollout instead. The risk we faced was that having too many different moving parts could impact the underlying security of the platform.
In terms of competition, I think we are serving a different market from UNI, CAKE, SUSHI and the others. Most of these platforms are focusing on fully decentralised solutions that allow anyone to start a pair, which is very helpful for launchpad and IDO platforms, as well as newer projects. These products can also be rapidly deployed to other protocols to fill market gaps.
For Centaur Swap, I feel that a closer comparison would actually be the CEX markets, where we have certain requirements before pairs can be listed (such as needing an on-chain price feed, certain levels of volume and liquidity, etc.). This is partially due to technical limitations but also in line with our CeDeFi ethos. Everything else about the swap is fully decentralised and powered by smart contracts.
Question: gas fees are prohibitively expensive right now. we are looking at $30–40 swaps on Uniswap. Is centaur looking to explore any of the L2 solutions?
Sean: Yes, definitely. We are looking into Optimism and deployment on other protocols. I would say that right now, gas fees are very high on our list of concerns and we are doing what we can to reduce the gas spending. Ultimately though, it is a challenge beyond the scope of our project and we may have to look beyond Ethereum if it proves to be too much of an issue.
The protocols in the running are of course our mainnet, close partners, and potentially Bsc. It’s still too early to tell but we’ll definitely take these things into consideration.
Question: When you mention yield enhancement, what does this mean? Is this more on the blockchain level to minimise fees (if this is possible) or will this be more along the lines of a solution offered by autofarm.network to maximise profits?
Sean: No, our goal was to build the lending solution directly into the swap. I think close comparisons would be iron bank and the curve BUSD pool.
What this means is that when liquidity is provided to most pools, only a portion of that liquidity is used at any point in time (the liquidity that is closest to the current price). This problem was highlighted in the Centaur Swap whitepaper that we put out late last year, and Uniswap has also addressed this point recently (as the key selling point of V3). Our goal was to repurpose the unutilised liquidity for lending purposes so that LPs can generate yield from trading fees, lending fees and LP Mining rewards.
Question: Any other video interviews planned? I thought the ‘girl gone crypto’ interview was really useful.
Sean: Not for the moment but we’ll look into it!
Anyway thanks for being here with us on this journey and for doing this AMA with me! We’ll have the next session the same day and time next week!
Thank you for being a part of Centaur Community.
By combining the best elements of decentralised finance with measured regulatory control, Centaur is bridging DeFi and traditional finance. For more information, please visit our website, join our Telegram community discussion group and announcement channel.
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