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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 to the pre-launch AMA. It’s in addition to the bi-weekly AMA so I’ll be doing another one next week too.

We’ve been seeing a number of good questions related to the upcoming launch this Saturday (3pm UTC+8) so I thought it’s be better to cover as much of it as possible during this session. It also helps that we can go into more depth than an article or tweet could since some of the questions have to be answered with the context of the overall design in mind!

As always, feel free to post your questions and I’ll address them in between the points!

Taylor: Hey guys! Its great to see everyone today!

Sean: So first on the list is the launch details for this Saturday!

We’ve got an article out with some preliminary details (https://medium.com/centaur/launching-whey-farms-on-polygon-d0cf50fc9666) and a countdown page up and running (https://swap-polygon.cntr.finance/).

For those of you who weren’t around for the original Centaur Swap launch, we do our Pool and Farm launch in two stages:

1. At 3pm UTC+8, we launch the swap, pools and farms and open up deposits for it. Users can stake their assets and provide liquidity or trade between existing asset pools. For the moment, we’re supporting USDT, DAI and MATIC on the Polygon version of Centaur Swap

2. At about 5pm UTC+8 (which is two hours later), the WHEY rewards start being emitted.

This structure ensures a fair launch and allows everyone to take part in the WHEY farm without needing to rush or bid with higher gas prices.

The 5pm launch for the rewards is an estimated timing as the rewards are tied to a specific start block on Polygon, it’s impossible for us to provide an exact time since block times are sporadic and dependent on the validators.

The updates we’re marking to the tokenomics and WHEY will all be added to the docs after the launch. We’ll also work out the airdrop details afterwards.

Lastly, on the topic of marketing and our bounty program, we’ve been talking to some of the Polygon focused communities and they’ve been a great help with the distribution of our news. Our internal bounty campaign has also been going well (quick shoutout to Hunter @batchdenbitcoinlaus who did a really nice video with some good traction and we’re adding a new segment to it.

We’ll be trying out a twitter boost on this Saturday’s announcement where the first 200 accounts to like and retweet the post will get $8 worth of CNTR regardless of their followers.

[AMA Transcript]

Question: To clarify for the 500% bonus apy for the first 24 hours is is on both sides or just on Polygon?

Sean: Yes the increased rewards rate is going to be for the Polygon deployment and WHEY. If you recall, we mentioned earlier last week that the emission rate on Ethereum will be reduced to accommodate a this promotional farm on Polygon.

The rate is not 500% APY but rather, 5x the average emission rate. It could very well be higher or lower than 500% APY depending on TVL and price performance.

Considerations that we had also include the assets staked on ETH for the farming of WHEY and gas fees involved in bridging them over,

It is likely that there would be a temporary dip in the ETH TVL as some of the farmers shift their funds over but it would most likely normalize over time.

Question: What will the recommended bridge process over to Polygon for those of us in the UNI & SUSHI farms?

Sean: We’ve just had the WHEY bridge mapped earlier this week after coordinating with the Polygon team. The tokens are deployed on mainnet already and we’ve shifted the WHEY in the developer/treasury wallet over to the Polygon network in preparation for the launch.

Continuing on, when we were working out the WHEY bridge for [ETH] WHEY <-> [Polygon] WHEY, we made a decision to perform an upgrade for WHEY, which resulted in a WHEYv2

This had to be done because when we first deployed the WHEY contract and Centaur Swap, the market direction at the time was focused on rugs, proxies and mintable contracts. To provide assurances to our users, we implemented heavy restrictions on ownership, mintability and adherence to the distribution schedule.

Because of that, we had two options for the Polygon version of WHEY (I will now be referring to this as [P] WHEY since its quite a handful)

1. [P] WHEY would be a separate token from [ETH] WHEY (something like PancakeBunny’s implementation $BUNNY / $POLYBUNNY). This would create a fresh launch with a different set of tokenomics and emission schedule. It would have no impact to the tokenomics of the [ETH] WHEY.

2. A v2 version of [ETH] WHEY would be deployed and bridged over to [P] WHEY and in future, we would migrate existing [ETH] WHEY over to the v2 via a token swap.

We went with option 2 because the first option would be highly unfair to the existing supporters of Centaur Swap and WHEY holders. It would also run contrary to the long term goal of cross-chain interoperability.

I’ll describe the points related to WHEY v2 in the next message as this one is already quite long.

For WHEYv2, we’ve built a wrapper and added it to the Centaur Swap page. For now:

1. Existing WHEY farmers and holders can continue to farm WHEYv1 and hold on to it

2. The wrapper (WHEYv2) is only used to bridge the tokens over to the Polygon network

3. All existing pools related to WHEYv1 will continue to be used (WHEY/WETH on Sushiswap) and the liquidity will remain there

In the long run, we have plans to migrate the WHEYv1 token over to WHEYv2, which would most likely happen during a v2 launch of Centaur Swap.

There are other considerations that we have had but since its a very long and in-depth discussion, I’ve detailed a summary of it. If there are additional questions please feel free to ask them and I’ll provide the relevant context.

To address this question, unfortunately the process is going to include an extra step in that the WHEY tokens have to be wrapped prior to bridging.

1. Unstake the LP tokens from the Centaur Swap Farm

2. Unstake the CNTR or WHEY and ETH from the LP tokens on the respective swap (Uni or Sushi)

3. Bridge the tokens over

4. Stake them on Quickswap (which is where we will be deploying the pair on Polygon)

5. Stake the LP tokens on Centaur Swap

On the topic of bridges, we were trying to map CNTR over to Polygon too and found that someone already did that over 6 months ago. Due to the decentralised nature of blockchain technology, it is impossible to find out who applied for it (please reach out if you happen to see this!) but we did check with the Polygon devs and they verified that the bridge and tokens are safe to use.

As such, we will be deploying an extra farm for a CNTR pair which will be announced at launch! Please look forward to it!

Question: This [Higher APY] is just for the WHEY/MATIC pool?

Sean: Nope, it’s for all of the farms on Polygon (DAI, USDT, MATIC, WHEY, WHEY/MATIC and one more that I’ll announce later)

Question: ​​The 5x apy applies to all options available 4 single-sided and the LP right?Total 5 options

Sean: That is the correct assumption.

Three liquidity pools related to trading (DAI, USDT, MATIC)

One farming pool (WHEY single-asset)

Two LP pools (WHEY/MATIC and the additional pool)

Question: how has the process of partnering with the Polygon team been for you and do you foresee doing similar bridges/agreements with Elrond and or Solana?

Sean: The Polygon ecosystem has been very welcoming and the integration on the technical and development aspects are very mature (though I would add that there is the advantage of EVM compatibility and a good number of resources to work with).

We’ve also managed to get some help on the distribution of our launch which you may have noticed thus far!

As to the integration with other protocols, we’ve got some ideas but we’re taking it a step at a time. Non-EVM compatible chains would take a bit longer as we need to rebuild the smart contract from scratch and get them battle-tested before deployment.

Question: is the bridge done using wallet.matic.network/bridge ?

Sean: Yes the official PoS bridge

Question: What are the main differences between v2 and v1? Based on what you said, is it fair to assume whey V2 can be more flexible with emissions in each pool?

Sean: Yes, WHEY v2 is more flexible and allows for transference of ownership and minting of tokens. This is required in order for the emission of [P] WHEY since the minting is done directly by the farm.

One workaround would include pre-minting the entire supply (150m) and bridging the required amount (49m) over to Polygon for emission. However, this implementation is inferior to a flexible schedule as we would likely be onboarding more protocols in future.

Question: When we get governance functions for WHEY, I guess this will be multi chain?

Sean: Yes! That’s one of the major benefits of this version in that the tokens are completely fungible even across protocols and governance votes can take into account tokens held on any chain.

Question: Do you foresee a desktop version of HADAR to interact with CENTAURSWAP where the bridge and perhaps the purchase processes could be managed?

Sean: Hmnn, perhaps a web browser version but a desktop app is definitely something that would take much more time to work on. For now, I’d say that the priorities for Hadar are in this order:

1. Bug-fixes and UI/UX updates

2. Protocol and token onboarding

3. Additional features and functions (staking, swaps, etc.)

4. Other platforms (web/desktop)

Marketing and adoption would also be slotted in once its ready and a step above the competition. It runs concurrent to the technical aspects.

Recently, we’ve been working with price feeds from Coingecko instead of the current one, which allows for more tokens to be shown with their respective USD value.

Question: Will there be an article in the future outlining all of the changes?

Sean: Yeap but that will come when we do a full migration to WHEYv2

As of now, it’s better to think of it as a wrapped token since there’s actually no utility to WHEYv2 aside from bridging it.

Liquidity for trading is still focused on WHEYv1 and governance votes would also only account for WHEYv1.

We called it WHEYv2 mainly as a preparation to the future upgrades, else we’d have too many of them (WHEYv1 / Wrapped WHEY / WHEYv2)

Question: Fair enough, thanks. For example, would whey V2, in the future, allow for a governance vote to deploy more emissions to the WHEY/ETH pool, if the community thought this would be useful?

Sean: It’s interesting that you would bring that up cos we did have a quick talk about something very similar when designing WHEYv2. Ultimately, we went with the approach of flexibility, which would align with our current direction (like the roadmap being a more adaptive approach as opposed to casting them in stone).

Question: Is [Whey] it gonna be a fair launch?

Sean: It’s fair in the sense that anyone can take part in the farming. However, do note that there are already existing token holders who farmed WHEY from the Ethereum version. There is no “pre-mine”, IDO or private sale for either version.

Question: In relation to Polygon communities, any thoughts on Centaur becoming a member of their DeFi DAO initiative?

Sean: I’d say we’re gradually becoming a part of the community but we’ve got quite a few things we want to build over the coming months/years so the focus on Polygon-specific things would not be in my immediate priority, as opposed to implementations that are protocol-agnostic.

Anyway It’s been quite a long AMA so I’m going to end it here! The next AMA is going to be done by our co-founder James this coming Monday in one of the Polygon-centric communities so please stay tuned for the announcement! I’ll also be doing another AMA next week to review the launch!

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.

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