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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: Hey hey everyone! Welcome back to another Centaur AMA! It’s been a busy two weeks for us as we ramp up towards the launch of Centaur Swap on the Polygon chain.

Sean Earlier this week, we announced that we would be reducing the emission of WHEY on Ethereum. This has already taken place and the rate of emission was halved. We did this in order to account for farm rewards on the Polygon network as Centaur Swap and the WHEY farms would both be bridged over.

In order to minimize deviations from the original tokenomics and to maintain a stable rate of inflation, we had to time it with the updating of the reward schedule on Ethereum. The reduction was also done in advance to build up something of a “emission buffer” which we can then use to run a promotional staking/farming launch campaign on Polygon.

Sean: Although in the long run, there will likely be some deviation from the original tokenomics of WHEY as Polygon’s block time has some degree of fluctuations (slightly more than Ethereum) but we’ll correct these anomalies once they pass a certain threshold.

On the tech side, we’re done with most of the tests and things are looking good right now. The Polygon mainnet version was just deployed earlier and we’re coordinating with the Polygon team on both the technical and marketing side.

[AMA Transcript]

Question: That’s a good breakdown I remember earlier this week some of our peeps were questioning why they have to “pay” or get a paycut for whey farming. It is good news that there might be promotional staking and farming launch on polygon.

Sean: Yeap! If the farming rewards were not reduced, it would lead to an inflation of WHEY which doesn’t benefit farmers either.

Question: How would this be corrected? Change in emissions on one chain to make up for differences on the other?

Sean: Yes that is right. I would say that the most accurate inflation rate for WHEY would be the blockcount on Ethereum. If you refer to the existing tokenomics (https://docs.cntr.finance/cntr/whey-tokenomics), there’s a column for Block Number and that is the one we will stick to.

So if for instance the block time on Polygon decreases (leading to an increased emission rate), we will make adjustments and decrease future rewards rate on Polygon to align it back to the Ethereum block height.

This is the current direction unless Ethereum changes its targeted block timing in future.

Question: will we be able to bridge whey/cntr between eth and polygon?

Sean: WHEY can be bridged using the native Polygon bridge. We’re working out the technical details with the team right now. As for CNTR, we do not have plans to bridge that over as of yet but it may be something to explore in future.

Question: I would be excited to play with a single side swap on polygon given the low fees structure, would it be possible to integrate CS prices onto aggregators like 1inch?

Sean: We spoke to a few aggregators but I think it’s difficult to implement as we have a settlement structure to prevent oracle front running. I believe Integral faced similar challenges when attempting to work with 1inch in the past. However, it may be possible to work with compounders for the WHEY farm.

Question: Do you have an official date for the launch? or a approximate date

Sean: We’re currently looking at next week for the launch!

Question: What does that mean, you will run on polygon ? But swaps will be on CS?

Sean: It means there would be a version of Centaur Swap on Etherum and a separate version of Centaur Swap on Polygon

The supported tokens on Ethereum would be:

ETH

USDT

DAI

whereas the supported tokens on Polygon would be:

MATIC

USDT

DAI

Queation: Gotcha, I think then there leaves a gap for the market to come up with aggregators that take into account of swaps with settlement structure. Would that also mean that arbitraging will be difficult to be executed on CentaurSwap, if traders see a price gap between two AMMS.

Sean: Hmnn that’s a good question, arbitraging between Centaur Swap and DEXes could be possible if the DEX in question is mis-priced against the rest of the market or CEXes. This is because our prices are drawn from Chainlink oracles, which aggregate them across various data sources.

Question: I have a question, so does that mean that we can farm for Matic in the future on Centuarswap?

Sean: No but you can farm using MATIC with our single-side staking and no impermanent loss implementations!

Question: can tell us more about the promotion with the launch for staking and farming maybe some hint for us

Sean: We’ll be providing a much higher APY for the first 24h of WHEY farming and a slightly higher APY for the rest of the days till the next block reward cycle update (16th of each month). More details on this will be published soon! There’s also no need for a gas war as we will deploy the pool and open deposits for the farm ahead of the rewards, the same way we did the original Centaur Swap launch.

Question: Sean, maybe a little out of scope but can you talk a little more about how WHEY will be utilised beyond governance?

We were having a chat on trader a number of days back about the use-case of WHEY and it was pointed out that one of the common use-cases for tokens like CAKE are to use them in paired pools. There was speculation that WHEY could be used in novel use cases like you find on DFYN or a better version of UniFarm

Sean: I think this is a good point @tx2_2xt @thisIsTheRealLM, in that one of the use cases could be for farming with targeted rewards, although this seems to be a more recent trend for Polygon DEXes. For instance, $SUSHI’s primary use case is governance of Sushiswap and there aren’t any tokens paired against $SUSHI apart from the Ethereum pair deployed for their liquidity.

Single side staking does mean that there’s no requirement to pair tokens in exchange for better capital efficiency and the elimination of impermanent loss. If the token is required as part of the pair, it will definitely serve an additional use case, however, I’d guess that the inflation rate would have to be bumped up to sustain the rewards rate and encourage more LPs to provide liquidity to that pair.

We’ve got an article being drafted on the side for the differences between CNTR and WHEY since that is a pretty common question.

Question: Do you have any thoughts on the recent Poly Network hack and others besides (too many to keep up with at this stage). Has anything changed on your end?

Sean: Oh yea that was a big one and fortunately it wasn’t too bad in the end. We did take a look at our codes to see if there were any impact and there isn’t. We’ve also kept to the same codebase as much as possible for the Polygon launch since it was already audited and functioning well. Similar safeguards and safety measures will be implemented for the Polygon launch so I’m fairly confident in our security level.

Question: Given that we haven’t had any new coins added to the swap, and the recent popularity of some platforms that seems to be focused on stablecoin swaps (eg SBR), has any thought been given to maybe focusing CNTR swap on that?

Sean: Yes this is actually one of angles we’re looking at pursuing, hence I was less receptive to coin listing discussions initially but quite agreeable with USDC. Part of it hinges on the research we’re doing into the prospect of cross-chain bridges and swaps. If it’s technologically feasible, we could very well focus on stablecoins and native (gas) tokens.

Anyway that’s about all the updates I had for this weeks AMA. Feel free to ping me if there are other questions! Thanks for taking part in this AMA!

Thank you for being a part of the 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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