Speaker : Professor JEY
Date : Tuesday, Sept 14th 2021
THERE IS 3 SESSION FOR AMA
2. QUESTION FROM TWTITTER
3. FREE ASKING
SESSION 1 ( INTRODUCTION )
Hello Sir, welcome to our community. We are glad to be with you here.
Thanks for inviting me.
My pleasure. Thank you also for coming to this event.
1. Please introduce yourself and tell how you started a crypto business to the idcrypto community?
DeFi summer brought a core group of us together coming from academic and quantitative backgrounds with start-up experience. DeFi Summer 1.0, July 2020:
we farmed bluechip protocols like Yearn, Curve, Uniswap, Sushiswap. We were dissatisfied that DEX/AMMs had two user pain points:
their liquidity was not as deep as centralized markets for traders, and impermanent loss hurt LPs. We began studying all we could on state-of-the-art DEX/AMM protocols.
In October of 2020 we published the first of your white papers:
On Equivalence of Automated Market Maker and Limit Order Book Systems.
This attracted a lot of attention and was praised by top DeFi minds such as Tarun Chitra and Rob Leshner. In the following months we then released 3 more papers which together motivated the mathematical hypothesis behind what we now know as Integral resistance.
Awesome.. Very detailed explanation.
2. Can you explain what is integral and how long your project launch !? Please explain in simple sentences.
Sure, Integral is the world’s 1st DeFi primitive that efficiently executes large orders, and captures the large client trading volume for DeFi.
Our AMM-based DEX executes your orders with the oracle’s average price over a period of time, which creates the same effect of splitting orders and execute them minute by minute. This practice helps Integral secure the best price. In fact, for a $1mil trade, Integral offers the best price 97% of the time compared to Binance!
When you look at the trading volume of leading CEX like Coinbase, 68% of it comes from institutions, whose trade size ranges from 1mil – 100mil.
However, most CFAMM-based DEX cannot serve these large orders properly, because they just don’t have the financial tools and enough liquidity to support such trade And thats what we are building Integral for, to capture these large trades for Defi.
Very interesting, this will further reduce the excessive difference from large Transactions.
thats correct, In terms of how long our prodcut has been around for Integral launched its LP pools back in March with overwhelming success with over $700m in TVL.
Since the, we have continued to to build on our products offering swaps on different pairs and all a while collecting data for future product development.
it’s an amazing launch, $700 m TVL is a great achievement.
yes we have a very supportive community.
Okay good, thanks you for explain more about Integral.
3. Can you share with the community, what integral has been doing from the roadmap?
sure, Currently, for $1mil trade, we offer the best price 66% of the time when compared with 1inch and Matcha. We hope to increase this win rate, and constantly deliver the best price. Also, we are working on another product to add another user dynamic to our technology.
This new product will use a 1-day to 1-week execution window in order to achieve the best execution of roughly $100m sized orders, We hope to debut this in Q4.
Additional to this we are currently finalising an IDO and we are progressing on with legal housekeeping for our negotiations with a leading Central exchange.
it will be very useful for institutional users.
Yes – we hope that the a lot more institutional activity moves into crypto in the future. We think it would be perfect product fit for them.
Guys you should join here to know more about Integral. Yes, I hope that’s the case, and indeed there are now quite a few institutions that have started to adopt crypto and invest in it.
SESSION 2 ( QUESTION FROM TWTITTER )
1. I read that Integral prohibits access from Ukraine, Cuba, Iran, North Korea, Syria and the U.S. What are the reasons why you have decided to prohibit access to these countries? What are the terms and conditions for a country to have access to Integral’s protocols?
Thanks @TheShadowJK_1 that is hot topic at the moment and unfortunalty the Integral website now has a geo-block that prevents IP addresses from certain countries visiting our services website.
This is recently new, and due to changes in the regulatory landscape. If you would like to now more you can view our T&Cs here.
Thanks you for sharing this document.
I hope @TheShadowJK_1 and our community understand about this T&Cs, Next question.
2. What strategy will you implement to bring non-crypto-natives into your ecosystem? How do you keep a balance between developing the technology and also improving the value of your token?
Thanks @JkDog8, Currently our main audience is crypto-native funds and whales.
As our product is most beneficial for larger traders and our main strategy at the moment, is making that point well known throughout the larger crypto community.
cool, indeed some of the features provided are also only for users with large enough funds.
3. How many partners currently have trusted Integral technology and what benefits do these partners bring to Integral and vice versa?
Thanks @ElKunMUfergie We have already closed a few co-marketing deals with other projects but these have not been released yet. We are waiting for the right time to make these public.
Nice, it’s easy to understand. We are wait for update in the future sir.
4. So in your WP you told that you’re focusing more about pricing feed for DeFI. Are there any other targets and potential fields where #Integral can be really useful?
Good question @AaPutun.
Using TWAP to properly serve large orders on-chain is already an extremely big market, and we will focus on that for now. We’ve got the technology to do this, and our steps will be create different application/user scenario for it, to increase the adoption rate.
That’s very interesting, this is only the first product, there will be a lot of new adoption. Great, Last question.
5. You are planning to occupy the TWAP niche. What about other algorithmic trading methods? VWAP, for example? Is it possible to hypothetically implement them on-chain
Another great question. Thanks @delovoyresearch.
We are first to the time-weighted average price (TWAP) execution primitive on-chain. This is where the bulk of the Coinbase volume (in Q2 2021, 68% of Coinbase’s trading volume.) currently consists of. Currently we intend to occupy and focus on this niche and build it to its full potential.
Thank you for answering this last question clearly, I hope our community understands this explanation.
yes sorry it was a little bit technical.
No problem Sir.
Very happy to know your progress, I hope here can make more succesfull development in the future.
SESSION 3 ( FREE ASKING )
Are you planning to integrate with other different blockchain technologies to expand the ecosystem and generate more trust?
Yes. Currently, we are proving out our product utility on Ethereum. A lot of big traders still mainly stick around on Ethereum. But expanding to L2 will become a priority for us after this current focus.
Integral is a great project..but we know that sometimes tokens get burned and it increases the value of tokens. Token do you have any Coin Burn / BuyBack system?
Not currently at the moment but we do have plans to form a DAO, in which case the $ITGR will also act as governance token and it will ultimately be up for the holders to decide.
Phạm Quang Vinh:
What do you think the future trend of DeFi is? What is the biggest flaw that DeFi is currently facing? And is the Integral project looking to solve that problem?
DeFi is breaking new grounds but it is still in its infancy. We are glad to have such a capable team and to be venturing into this new frontier. Our product ‘time delay mechanism’ currently solves a DeFi flaw and we plan to continue to build and innovate with new products as this space grows.
NFT is really a hot topic in the cryptocurrency market now. So how is your project planning to develop NFT then how is your project planning to integrate are it with DeFi?
NFT is really a hot topic in the cryptocurrency market now. So how is your me project planning to develop NFT then how is your project planning to integrate it with DeFi?
That’s definitely a possibility if we think there’s room for a decent product. It is not currently something on our radar but that is not to say it will not eventuate in the future. It is however, unlikely that we will do something trite with no innovation involved.
City After :
What are the key milestones on your roadmap – both things you have already achieved and things that we can look forward to? Any partnerships and short/long term technical milestones that you want to talk about or bring some attention to?
We are just finalising an IDO and we will be listed on Uniswap from tomorrow. Furthermore – Our 2nd product, TWAP, which will be our product priority in Q4 2021, uses a 1-day to 1-week execution window in order to achieve the best execution of roughly $100m sized orders.
MORE DETAIL ABOUT Integral