Mar 26, 2021
Recap Of AMA #4 With Centaur Co-founder
Dear Centaurians,
Thank you for being a part of the AMA with Centaur’s Co-Founder Sean Kor today.
For all those who couldn’t join us for the AMA, please find the transcript of Sean’s 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
[Introduction By Sean]
Sean: We’ve been pushing hard for the product launches and we’ve got more news for you in the coming days!
For now, I’ll be covering a little bit about the Hadar wallet. It took us awhile to come up with this name but I think it resonates very well with what we’re doing.
“Hadar, also known as the Beta-Centauri, is one of the brightest stars in the southern constellation of Centaurus.”
It is our hope that Hadar will serve as the guiding light for Centaurians to navigate safely through our platforms and the various blockchain ecosystems.
At launch, we’ll be focusing on BTC, ETH and ERC20 assets but we have plans to onboard more chains in future updates. There are quite a number of unique points on the backend, such as the way addresses and keys are managed and how they can be recovered in a manner that still maintains non-custodianship (Centaur does not have access to your private keys).
We will also be pushing to make this a DeFi-focused wallet and we’re currently exploring the possibility of natively integrating DeFi products (swaps, lending/borrowing platforms, LPs, etc.) into the wallet. This goal is to include such features on a level higher than just loading up a webpage within the app.
Apart from that, we’ve also been buffing up the marketing recently, with a feature on Coindesk and increased support from KOLs, and will continue to push forward throughout the product launches!
Additionally, we’re also finalizing some of the back-end operations for Centaur Swap and the mainnet, although you’ll see more of those points in the coming weeks as we focus more on Hadar these few days.
Oh I have one last point to announce today. Starting next week, we’ll be shifting the weekly AMA to Thursday so that it is closer to the product launches on every alternate Wednesday. We’ll also be doing AMAs on external channels next week (there’s Satoshi Club next Tuesday (https://t.me/satoshi_club_channel/631)) and others that we are scheduling.
Question: This sounds nice, any rough time frame [for DeFi integration]?
Sean: Hey Zela, we’re going to be focusing more on onboarding more chains and protocols prior to venturing towards that direction. The process for DeFi integrations is more exploratory in nature as we’ll need to adapt to market demands which changes rapidly.
Question: My question for this week @Sean_CNTR You’ve mentioned a couple of times in AMAs about prioritising certain parts of the roadmap and less on others… E.g. Centaur Swap over collateralized loans. Are there likely to be any updates to the roadmap?
Sean: I think one of the key challenges faced by project teams and co-founders in the crypto space is how rapidly the market evolves. This then creates a situation whereby we have to decide between sticking to the roadmap (appeasing investors and accountability) or building something that is more relevant and provides value that is in line with market demand (note: demand and not trends).
In many cases, it is a very delicate balance as we cannot stray too far from what was initially promised, and of course we will not just chase trends for the sake of it (i.e. hopping on to L1/L2/foodchain/rebalancer hype trains without a clear purpose).
As an example, the initial plans for Centaur Swap was to use ZKPs to build a privacy-centric AMM. The contract was partially built and deployed on testnet prior to the public sale and I believe some of the earlier members may have played around with it. However, when experimenting with the curve designs and price derivation, we realised that there was so much more that could be done, which then evolved into the Centaur Swap that we have today. Everything from single-side staking to cross-pairing and IL mitigation is part of the “updated roadmap”.
I think moving forward, its better to think of the roadmap as a set of goals that we have but not something cast in stone. In my opinion, the better approach is the one that we have been taking recently (which was very nicely recommended by our community), in the form of short-to-mid term milestones and updates that take into account market demands while still weighing into consideration the opinions of our community and investors.
Question: how does the encryption and storage of the private keys work? from my reading of the article, the password/user id encrypts the private key, which is then stored on the server. what happens if hadar is no longer operational or the copy of the encrypted key on the server is lost?
Sean: A copy of the encrypted file (which contains the private key) is stored on the device. If the server is down, the funds can still be recovered.
Thank you for being a part of Centaur Community.
About Centaur:
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.
For more information, please take a look at our:
· Telegram Announcement Channel
· Liquidity Pool (Ethereum Ropsten)
Signing off,
Centaur
