Recap Of AMA With Centaur Team
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! The team has been focused on building the past two weeks and making sure our platforms are ready for the upcoming hardfork.
For today, I’ve got a few quick updates to drop in:
- The impact of EIP1559 on Hadar
- The upcoming Polygon launch for Centaur Swap
- The progress of our bounty campaign
Sean: So as I’m sure we’re all aware. In just a few hours there’s about to be a hard fork for Ethereum.
One of the major changes include the implementation of EIP1559. We wrote an educational piece on what that is so do check it out over at https://t.me/CNTR_ANN/160.
With the changes to how gas is structured, the platform with the highest impact is going to be our Hadar wallet. Currently, we’re fetching average gas prices but allowing our users to customize their gas fees, similar to how most wallets implement it.
EIP1559 proposes a different structure though, without going into too much detail, the intended goal is for it gas prices to stabilise and become more consistent, especially in periods of high transactional volume. This is fundamentally different from how most protocols are handling tx fees right now.
On the backend, most platforms and services will continue to function as per usual as there’s minimal impact to smart contracts such as Centaur Swap. Intended changes are more on the user interface and user experience for interacting with the Ethereum network.
For Hadar, we’ve opted to retain the existing structure first and making it compatible with the hardfork. Additionally, we’re continuing to monitor how other wallets are going to go about implementing the UI changes.
Part of the reason we’re sticking to the existing model is also because of multichain compatibility, wherein we do not want a jarring experience for users when switching networks.
Aside from that, we’ve also been gearing up for our launch of Centaur Swap on Polygon.
Sean: Most of the testing has already been concluded and we’re moving towards deployment on the Polygon chain. The actual launch of the platform is going to be similar to the one on Ethereum, whereby we will launch the Swap and Liquidity Pools first and follow up with the Farms a few hours after.
Anyway the last point was regarding the bounty program, we’ve been tuning the parameters for it to ensure that it’s worth it for the bounty hunters but does not cause unnecessary sell pressure for CNTR.
There’s quite a good amount of participation right now and some interesting content pieces that I thought were well written:
Anyway that’s all the updates on my end! I’ll stick around to take questions if there are anymore!
Question: Are you anticipating a possible hard fork [EIP 1559] wherein there will be two separate chains with their own tokens?
Sean: I personally feel that this would be an unlikely situation. However if that were to happen, we would probably focus our development on the primary one.
Question: What do you think are some of the implications for hadar, Cntr/whey and centaur swap?
Sean: For Hadar, we’ll have to see if wallets moves towards implementing a new UI for gas pricing and adjust accordingly. There’s also some updates we’ll need to rollout on the backend to ensure that things continue to work.
For CNTR, WHEY and Centaur Swap, the impact is much less unless the fork does not achieve full adoption as what you mentioned earlier.
Question: I have been looking at the bounty program and have a question, will the bounty program be a part of a wider marketing push once centaur swap is launched on polygon because imo that’s when centaur gets to be on many people’s radar
Sean: Ah this is a great question! I was going to go more into the bounty campaign later but yes. The bounty program forms a part of the marketing efforts. In due time, we plan to launch a time-limited bounty to amplify certain tweets and news.
Question: Hello Sean, i’m kinda new to the CNTR community and i am quite impressed by the work that has done been so far, i would like to ask if CNTR has any plans to integrate with other networks like BSC or Polkadot as such?
Sean: Hey there, welcome and thanks for joining us! For BSC and Polkadot, I’d say its not impossible and we do have discussions relating to other protocols but at the moment, we’re taking it a step at a time and focusing on Polygon first (there’s another question below that asked about why Polygon so I’ll elaborate then). For other chains, I’d say they are more of a long term goal and will form part of the larger ecosystem for Centaur Swap.
Question: Hi Sean, would like to know why the team chose to onboard Polygon instead of the myriad of other L2s
Sean: We picked Polygon as there’s a good amount of DeFi projects and users there. It’s less centralised compared to BSC and more stable compared to Fantom. The team has also been very helpful with the setting up of the bridge and testing.
Question: Hey Sean! Will we be having liquidity mining incentives for the Centaur swap launch on polygon?
Sean: Hey hey! Yeap we will be bridging WHEY over to Matic and the emission rate will be adjusted so both platforms will be farmable. This means that the APY for the ETH chain will be halved to ensure the inflation rate for WHEY remains in line with the planned tokenomics.
Question: This what I love to hear.
Do you have any idea when we will begin to see more tokens appear on the swap?
Sean: With the launch on Polygon, we will of course be adding MATIC to Centaur Swap as one of the farmable tokens. Another point brought up by Zela was the inclusion of USDC, which is also feasible, although we’ve not yet decided on whether we should do it together with the launch or as its own separate launch.
Question: Is there any plan for WHEY usecase other than just for governance?
Sean: It’s primarily going to be for Governance and perhaps fees in the far future for the cross-chain ecosystem. It’s still early stages for that though.
Question: In terms of adding new tokens, approximately what amount of time is required to add a new one?
Sean: About a week or under for the technical aspects. The planning, marketing and launch would typically take more time though. Things like deciding on what weightage the new token would have on the WHEY farm and how to best optimise liquidity towards it.
Question: WRT EIP-1559, when should the hadar update take place.
Sean: The existing version of Hadar should still work even after the hard fork is implemented. We’ve prepared an upgraded version which should be roll out some time after, it’ll be good for us to run tests in the live environment before rolling it out.
Question: Thanks. Can we expect the governance to be launched just after the L2 launch or could be much longer?
Sean: Governance is slated for Q4 2021 at the moment. (https://docs.cntr.finance/cntr/roadmap) We’ll be working on it after the L2 launch!
Question: Yes, I’m curious if WHEY or CNTR would ever make it on to exchanges like Maiar or Orion
Sean: Hmnn we’re holding back on exchange listings right now. Most of the trading is concentrated on AscendEx and Uniswap and activity isn’t high enough to warrant more exchange listings, if anything, it would dilute the order book across multiple exchanges and cause larger spreads.
Question: On CS’s swap feature with less slippage, is it possible to create a data comparison of the performance of CS’s swap with other swaps? Would be great for advertising CS.
Sean: Ah, this would probably make for an interesting article. I’ll talk to our writers, thanks for the suggestion!
Question: Out of intrest how did you come to the conclusion that polygon is more stable than ftm [fantom]?
Sean: The tech team tested various aspects and went through the code bases of both protocols over the past few months. There’s also instances of the fantom chain halting block confirmations and shutting down which is a slight concern. Apart from the tech, we’ve also got other considering factors such as adoption and ecosystem support too.
Thank you for being a part of the Centaur Community.
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