Recap of AMA with Centaur Team
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 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 AMA, we’ve had a good number of updates since the last time so we’ll cover the points in this order:
1. BonFi staking
2. Bounty on Polygon
3. Ongoing partnerships
5. Centaur Swap
As always, feel free to ask any questions you may have and I’ll get to them as we go along!
Sean: So the first thing I wanted to talk about was the BonFi staking program! A few months back, we announced our partnership with BonFi which included this dual-staking platform. However, due to scheduling issues we were only able to get it launched yesterday. I think it’s a great avenue for our Centaurians to get more exposure to other project tokens, similar to the staking program we did with Unifarm many months ago.
With the recent emphasis on Polygon after the Cswap deployment, we’ve had some campaigns with QuickSwap that allowed for CNTR that was bridged over to be put to work! I think that the BonFi staking program is a great addition to the ongoing campaigns we have for CNTR that’s still on Ethereum, along with a few others to come in the near future!
Sean: Secondly, I think the bounty program has been a good ongoing campaign for us to help encourage community level activities. A quick update on it would be that we are switching the bounty rewards to the Polygon Network version of CNTR due to the reduced gas fees. On Ethereum, we’re looking at double digit fees for ERC20 transfers and it doesn’t make as much sense when the bounty rewards are typically disbursed once they go above US$50.
Another quick point is that we’re stopping the translation bounties as we’ve received a number of submissions so far. We’re looking at adding these to the docs once they get updated (we did an update for the docs with the Polygon deployment but there’s another upcoming one for the roadmap at the end of the quarter)
Thirdly, we’ve got a few more partnerships in the pipeline, although we’re not ready to announce them yet as we’re looking at a major tech update coming in the next few months. It’s something that we’re cautiously optimistic and very excited about. I’ll talk about it more as we discuss Centaur Swap later.
Sean: Next up is Governance, we’ve been playing around with snapshot.org (the governance platform) and I think it’s great to work with as a testbed for governance in the long run. If you’ve got any proposals related to the Centaur Ecosystem or Centaur Swap, please feel free to reach out to the Centaurians or during the AMA!
I think we can release more details related to the governance platform next week!
Anyway, moving on to the Cswap!
Sean: For Centaur Swap, it’s really been an exciting month for us as the Polygon launch helped to verify an important aspect. In the last AMA, I think it was Holly that shared a screenshot of two similar trades, one on Centaur Swap and one on QuickSwap. The slippage faced on Centaur Swap was lower, despite having about 1/350 of the TVL of the Quickswap pair. This has helped to affirm the strengths of Cswap in reference to slippage and exchange rates!
Moving forward, we’re working on the two directions mentioned the last time, protocol onboarding and token listings.
For protocol onboarding, we’re looking at the various EVM compatible chains and also planning out how to best schedule them. Also hoping to get in contact with their teams as this definitely helps to coordinate with their ecosystems.
As for token listings, I’ve mentioned this before but we’ve always faced difficulty due to the stringent requirement of having a Chainlink pair. We’ve been speaking to many different oracle projects in the past few weeks and I think we’ve found one that we’re really confident in thus far. There’s some ongoing dev work on the testnets right now and we’ll definitely be sharing more about them once they are ready.
Of course, the highest priority for integration would be our two native tokens, CNTR and WHEY!
Lastly, we’ve got an update regarding the Centaur Chain, over the span of the past few months, we’ve been having ongoing discussions with various partners across the CeFi sector on the possible integration points. We’ve also been conscious of the mining rewards distributed to the validators who have been helping to secure and decentralize the network.
Since the launch of the mainnet back in April, the total emissions of CNTR from the minting of blocks on the Centaur Chain amounted to slightly under 80M CNTR. Based on our original forecasts based on the average block time and rewards rate, the total inflation amount would hit about 250M CNTR by next April.
Sean: With this in mind, we had a few discussions with the private and seed round investors and advisors, as well as the node operators on the Centaur Chain and concluded on a temporary transition towards a consortium chain structure (similar to Ripple, Hyperledger Fabric or JP Morgan’s Quorum). This would reduce the inflation of CNTR until such time whereby the use cases are well developed and we have achieved a good degree of adoption on the Centaur Chain. Once the CeFi partners are onboarded, we would re-open the network to anyone who has enough CNTR and technical expertise to spin up a validator, while other members can delegate their CNTR to existing validators.
Question: Hey Sean! I see there’s has been much interest in chat about the staking of CNTR on the Bonfi platform. Is this the dual yield staking the extent of the Collab? Or will there be other staking use cases implemented in future?
Sean: Yeap so there’s going to be more collaboration points in future once both platforms are more mature. In case you’re not aware, BonFi is an AI-driven data aggregator that provides predictions based on a myriad of factors, including social sentiment and economic indicators. Part of this collaboration also involves having CNTR and WHEY as part of the BonAI prediction logic, helping traders and investors with their entry and exits. Cswap will also be part of the economic indicators used by BonAI so this will extend outwards towards the larger ecosystem
Question: Personally I’m quite interested in the governance factor, what would we potentially vote on? And we will have to hold Whey to gain voting rights/submit proposals does that sound right?
Sean: So the governance platform is split into CNTR and WHEY, for Centaur and Centaur Swap governance respectively. For now, we’ve limited the proposal submission to the Centaurians so they will assist in vetting and structuring proposals on the platform. Anyone holding on to WHEY or CNTR can vote on these proposals.
Furthermore, voting does not require gas and automatically accounts for all assets in your ownership:
1. Any CNTR or WHEY held in the address
2. The equivalent value of any CNTR or WHEY tokens added to the Uni/Sushi/Quick pairs derived from any LP tokens held in the address
3. The equivalent value of any CNTR or WHEY tokens added to the Uni/Sushi/Quick pairs derived from any LP tokens staked into the Centaur Swap farms
4. The equivalent value of any WHEY tokens staked into the Centaur Swap farms
5. Any WHEYv2 tokens held in the address
6. The above applies to both Ethereum and Polygon networks
7. WHEYv2 tokens locked in the Matic PoS bridge are EXCLUDED from calculations
8. Unharvested WHEY rewards are EXCLUDED from calculations
Question: Yep I have a similar question, does holding CNTR have any use case in regards to voting or just Whey?
Sean: CNTR voting power will be used for the Centaur ecosystem, whereas WHEY will be used for the Centaur Swap platform. We’re still undecided on whether CNTR voting power should have an effect on the Centaur Swap governance. Perhaps a lower weightage for it. We’re open to suggestions!
Question: What effect will people having a large stage tangentially in WHEY have on voting rights. i.e. Let’s say they are using single-sided pools but don’t necessarily have a lot of WHEY
Sean: If I understood you correctly, the question is regarding users and contributors of the platform (LPs/Traders) who may not necessarily be WHEY whales?
I think in the case of LPs, they would typically have access to a fair amount of WHEY depending on the volume that they are working with since all of the pools are farmable. Regarding traders, I think its more a case of “vote with your wallets” and governance structures are typically designed with that in mind. Adjustments of trading fees could be an easy example to work with. In an ideal situation, WHEY holders would vote in a manner that benefits Centaur Swap as a platform, which would entail reducing fees when trade volume is low to incentivise traders and increasing fees when trade volume is high to maximise profit.
Question: Will we see more of such campaigns on platforms other than Ethereum? the gas fees for interacting with smart contracts might be daunting for smaller players
Sean: Yeap this is possible, in fact, we do have some campaigns in mind but I’ll talk about it in the Centaur Swap segment.
Question: Does this mean that there will be fewer Centaur than planned on the market for that time? Or do you mean inflation in the price?
Sean: Yes, for additional context, the CNTR distributed on Cchain is drawn from the Ecosystem allocation which is held in our treasury address. These were all planned out early in the year while we were designing the block rewards rate for Cchain but certain assumptions regarding the roadmap towards CeFi integration were made, which would contribute buy-side demand to offset inflation. Since the integration points are going to take a bit more time, we’re reducing the rate of inflation to mitigate an oversupply. This is in contrast to the common L1/L2 ghost chain rhetoric across the industry while being quite aligned with early-stage platform launches (looking at Polkadot / Kusama Parachains for reference too).
Question: Hi Sean, I have two questions:
1. I am an early adopter since the start of the project, Elrond mentioned it at the time as a partner. My question now, besides the future partnerships, are you still involved with Elrond or other major projects who give advice or backed us? Or are we operating more or less solely?
2. We really need more marketing and attention to our product, it is said often in here. Investors do not find us easily, which is a consequence of our price level about the last time since the whole market is going up. Are there concrete plans for marketing campaigns (not talking about bounty)?
Sean: 1. We do sync up with the partners from time to time. I’d say for Elrond specifically we’re looking at integration with Centaur Swap, which was what we originally had planned. However, the immediate focus for protocols is going to be EVM Compatible ones first. I’d think Rust is a good next step since EGLD, SOL and CSPR are Rust
2. We’ve increased the marketing for the launch on Polygon, and gotten a fair amount of coverage for Cswap and Centaur. We’ll continue with this approach and also with our focus on community efforts. There are also some additional marketing plans but they can’t be executed at present until we achieve certain technical milestones.
Anyway, to wrap things up, the end of the quarter is also going to be the end of this month, so the next AMA will probably be a roundup and forecast of the mid-term future. As mentioned, we’ll also be updating our roadmap with the things we’ve achieved so far and the rest that we are working on!
Thank you for being a part of the Centaur Community.
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