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Recap Of AMA With Centaur Team

Dear Centaurians,

Thank you for being a part of the AMA with Centaur’s Co-Founder Sean Kor and Centaur’s communication lead Taylor today.

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]

Sean: Fortunately, we’ve got a number of major updates today so I’ll be putting them out in segments. Feel free to ask your questions but I may need some time to get to them. Of course, @Tay_lor_CNTR will help out with some of them too!

Firstly, we’ll start with the documentation (whitepaper), website and roadmap revamp!

Sean: This is something long overdue and we’ve been wanting to amend them, however the team has been pretty busy with the other aspects of Centaur (L2 research and integration, audits, etc.). We committed to it about a month ago and I’m proud to say that we’ll be putting them out some time tomorrow. It’s about done and we’re just doing one last pass before going live!

@Tay_lor_CNTR will send a sneak preview of the website in a minute

Taylor: Sneak Peek……

Sean: Yeah so like the current website, the “Decen” part is a live message for “Decentralised” and will rotate among a few words.

The new website will also focus more on the products that we’ve already launched (Hadar, Centaur Swap, Centaur Mainnet) and it will be an updated version so things like the Zero-Knowledge Proofs have all been omitted.

You can also see a greater emphasis on Centaur Swap in the landing segment, which should give you a clue on our direction for the DeFi centric products moving forward.

Sean: As for the whitepaper, we’ve thinned downed on the contextual information (what is DeFi, CeFi strengths and weaknesses, hybridisation and bridging) since this is quite well established by this point, as opposed to a year and a half ago when it was initially drafted.

We’ve also opted to go with a repository structure using gitbook, which will allow for the information to be updated more frequently. This whitepaper will be merged together with the existing docs for Centaur Swap, and potentially the Centaur Library as an ongoing Educational segment.

I think this would also be useful for new and existing community members as we will be able to send direct links to the relevant topics instead of directing them to a thick whitepaper for every question.

Sean: Next we have a light update for the WHEY airdrop and L2 deployments. These are still ongoing at the moment and we are exploring the potential of working with multiple L2s in the coming future. Not just as a swap platform but as a bridge too. We felt that this could potentially expand the use cases for Centaur Swap in future, depending on the levels of adoption for each L2 and the requirements for cross-chain interoperability.

Sean: Also, as the TradFi elements are generally slower, we’ve opted to focus more on the DeFi aspects which are of higher relevance to our community and investors. This does not mean that the CeFi elements are neglected, we’ll continue to work on them and there’s a dedicated team for it, it’s just more susceptible to external market forces and requires deeper integration before announcements.

Sean: As for the progress on the audits, the last time we mentioned that we’re working on the economic audit. We’ve prepared the timelock + multisig contract which has also been successfully audited. Right now, we’re preparing to deploy and port over the emergency withdraw function before we publish the audits. We’ll also do up a short article on the three audits to summarise the finding and our remediations.

Sean: Another integration point is related to a concern I’ve seen in our community too.

Regarding the distribution of WHEY tokens, there was a question regarding the wallet holding on to 8M WHEY (https://etherscan.io/token/0xca5d29b3e74d59ebcdf09111495d86f319886a40?a=0x2132de4fffe211122819a0135e572784c403b595). This wallet is associated with Centaur and ties in neatly with the question regarding our TradFi partners.

Over the last few months, we’ve seen an uptick in TradFi interest with regards to cryptocurrencies. You may have also seen news where banks and other financial institutions are exploring blockchain technology or investments into Bitcoin and other large caps.

For us, our partners have asked about DEXes and Centaur Swap in particular, and some were keen on exploring yield farming opportunities and liquidity provision. For such partners, we implemented a custodial structure where we setup and configured a wallet to stake on their behalf.

What this means is that although we do not own the funds, we are helping to manage the wallet. These investors are also typically longer-term in nature and have agreed to working with us prior to any liquidation of tokens.

On the topic of Hadar, a quick update on our current direction. With the upcoming EIP1559 implementation, we’re running some test on the Goerli testnet (which has already implemented the London hardfork). For this, we’ll have a clearer picture after the fork is rolled out but I’m optimistic about it!

[AMA Transcript]

Question: There is some concern about the future of L2 protocols once ETH 2.0 launches. I’ve seen some attempt to answer this criticism by suggesting that it wont take ETH 2.0 to run into scalability issues and that L2 protocols will be still be required. I don’t know about the truth of this but assuming this is not the case and L2 protocols become largely redundant how much work is involved in moving away from L2 protocols once onboarded?

Or do you think they are here to stay?

Sean: Circling back to this, our team is definitely very ETH-oriented and we’re actively following its developments, whether it be the proposals or regarding ETH 2.0. We’re also involved in L2 research as it is paramount to the direction of Centaur and the DeFi space.

My opinion is that even with the launch of ETH 2.0, L2s will still retain their use cases, especially for projects that are building solely on those protocols right now. My guess is also that L2s can become more specialised in nature by focusing on various market segments, such as NFTs or DeFi. The recent trend of blockchain games are one such example of it.

As to the work involved in onboarding L2s, it is quite a substantial amount, but once deployed, they’ll continue to operate and there’s no need to offboard them. Utility may drop if they fall out of popularity though, which may have an adverse effect on slippage. However, these will be an impact caused by market and economic forces, which would be outside of our scope.

Question: Hadar going partner matic together future?

Sean: Hadar aims to achieve interoperability amongst the various L2 Chains, Matic included. We will also attempt to make the UI for these as user-friendly as possible to streamline adoption.

Question: Just a quick question from someone earlier this week, not sure of they’re here — what was the reasoning behind having different branding for Hadar compared to the rest of the ecosystem?

Sean: When rolling it out, we wanted to present the wallet as something that is more neutral and a contribution to the blockchain space. Of course, Centaur is still featured more heavily in it and we will prioritise the integration of our platforms and services. However, the brand is towards a chain-agnostic approach and cross-compatibility across various protocols.

Similar examples could be the BigDipper explorer (an open source Cosmos block explorer that we are using) built by Band Protocol and the Mair wallet built by EGLD.

Question: Thanks for the transparency as always. I guess you can’t tell us too much about this/these partners, but could you say if they’re existing partners, or someone new?

Sean: They’re a mix of both. The funds come from multiple entities as we also had the distribution of WHEY in mind when rolling out that service. The planned airdrop is also meant to help improve the distribution.

Question: Just curious, what is the meaning of “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: Some questions regarding the Swap…. 1. Looking at the TVL, it seems like some of the funds but in privately at the start by CNTR team have been removed (please correct me if in wrong).. if yes, then why?

2. Why have there been no updates since launch? Surely we could at least have added some more stablecoins, if not some of the major alts?

3. Without a governance facility, there is currently nothing you can do with WHEY other than farm… Which is fine for us who are in it for the long run, but doesn’t look great for new people. When can we expect some voting mechanisms for WHEY? Are we waiting till more of the supply is unlocked so there is better distribution and 1/2 wallets can’t force proposals through?

Sean: 1. Our team has not removed any liquidity from Centaur Swap. Apart from the marketing done prior to the launch, we have also reached out to some of the VCs and specialised yield-farm investors for their support on the launch. Ultimately, it is a business arrangement for them and we have no control over whether they add or remove liquidity.

2. Since launch, the focus has been on security, which is of paramount importance. Our lead dev has been working with the auditing team from Halborn regarding both the technical and economic audit, and we had to make changes to the eWithdraw especially due to the rise in rug-pulls and their increased prevalence on Polygon.

Additionally, liquidity is an important aspect for any swap and a concentration of liquidity over a small basket of coins is preferred over a diluted spread across multiple coins. On this point, I’m open to suggestions as a pseudo-governance structure, but my opinion is that adoption would be of higher priority right now, which is linked to why we were exploring L2 onboarding ahead of token listings.

3. The distribution is one reason for it but I would say that the focus on adoption is a larger reason. If we were to roll out the governance structure right now, I get the feeling that the impact would be questionable. I’m more inclined towards a discussion-based approach which is what we have so far.

Anyway if there’s no other questions I’ll end off the AMA here! I’ve recently amended my schedule for the AMAs to cater for longer sessions (rightfully so since we made it bi-weekly) and I’m glad that the quality and depth of discussion are better.

As always, if there are any other questions feel free to ping @Tay_lor_CNTR, me or our helpful CM team @NM_CNTR @Roger_CNTR @BhavinGala!

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.

Website | Telegram Group | Telegram Announcements | Twitter

Signing off,

Centaur

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