Recap of AMA with Centaur Team
Dear Centaurians,
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: It’s been a tricky month for two main reasons, I’ll go into them in detail but the quick bullet points are that:
- Tradfi fears over macro conditions and lack of understanding of the space
- NFTs
On tradfi and institutional finance, there’s been increased pushback as markets have been bearish, mostly due to macro sentiments (inflation, escalating geopolitical tensions). We’re still able to continue working with the existing partners but it’s trickier to onboard new ones due to this. Lack of education and understanding is also another concern, with broader scoped challenges such as the environmental and social impacts of cryptocurrencies. For these, we’ve been addressing them as they are surfaced, although it’s hard to define the space and its benefits to people who have never stepped foot in it.
On DeFi and general market conditions, the recent wave of NFTs have been eating up significant market share for non-NFT projects. As an example, on most days OpenSea consumes significantly more gas than Uniswap and token projects are not able to get the marketing and distribution push needed for launches. Liquidity is also flowing into the shiniest jpegs of the week and there are fewer platforms being launched in the DeFi sector.
One potential angle is to design solutions that are hybrids of the two, merging NFTs and DeFi technologies
As NFTs mature, its likely that there would be increased demand for underlying utilities, roadmaps and increased functionalities (as was the case with protocols, DeFi, launchpads, etc.). Some innovative solutions would include things like simplified yield generating staking contracts (possibly in the P2E space) or liquidity oriented ones such as collaterallization of NFTs
[AMA Transcript]
Question: Was curious about whether there are plans to expand on the utilities of CNTR and WHEY moving forward?
Sean: For now, the plans for CNTR are to be integrated into the CeFi suite, as for WHEY, we’re looking at EVM protocol deployments. CRONOS did the marketing push recently for their chain, and SKALE is set to launch next month. There’s also a number of other chains we’ve been monitoring for activity levels such as the Polkadot EVM ones (Moonbeam/Moonriver), AVAX, Arbitrum. Optimism etc.
Question:While waiting for new partnerships to form, will Centaur be centering the focus on product development (or other elements) instead?
Sean: Yeap we’re primarily focusing on product development right now
Question:
- why did the frequency of AMAs get reduced from 1x per week 2x per month, and now 1x per month?
2. what about shrinking TVL on the swap — any statement about that?
Sean:
- Due to the reduced pace of updates as Centaur transitioned to focus on more on the longer term integrations, which typically take more time to roll out.
2. Briefly addressed in the points I mentioned earlier, apart from the difficulty in marketing for project and tokens, its broader in the sense that DeFi itself is taking a backseat while NFTs are eating up liquidity. For reference, DeFi TVL has dipped by US$50b YTD / US$20b in the past week alone
Question: Anyway Sean, can we get an update on the consortium chain?
When can we expect to move back on a original main net?
Sean: This would have to take place after the solutions are rolled out. The Anak Indonesia partnership we pushed out awhile back is entering their beta launch soon which would be a good test of real-world adoption for blockchain technologies.
Question: Will this include international remittance?
Sean: For the launch I believe the supported currencies are IDR/MYR/SGD as those are the regions we have access to, and the necessary regulatory and compliance procedures setup for.
Question: But how do NFTs link in with what CNTR has done before? Is this another change of direction?
Sean: Nono it’s not a change of direction, we’re still working on the same things we’ve been building. Though I feel that we have to be cognizant of these sectors and their applicability for incorporating DeFi.
Question: What about EVMOS
Sean: Yeap that too, there’s some IBC/IO platforms we’re looking at and EVMOS is one of them, another would be STARKWARE. Imo these are still a bit earlier in nature though but definitely relevant.
Question: Don’t really think it affects right? Defi to Tradfi intergration with NFTs as a representative(just my simple depiction might not be exactly how it is implemented) have seen NFTs selling with no background and utility involved not to mention Centaur already has utility and backing in place
Sean: I think it’s related to a gradual maturity of the sector. We’ve seen this over the years where demands evolve with time and token utilities start to form a larger part of investment due diligence processes. My feeling is that over the next couple of months, NFT project teams would face similar demands for increased utilities, whether it be staking, P2E, launchpads, access, etc. This would also closely mimic 2017/18 ICOs where tokens with weak utilities fade into obscurity and fail to complete their raises.
Question: Ok fair enough, but could you give an example of how an NFT might interact with the swap?
Sean: Still very early staged at this time but I can drop a few discussion points we’ve had.
The most basic implementation would be similar to UNIv3 LP tokens tagged in NFTs to plot specific points of the curve to deploy liquidity into. There’s also the possibility of token integrations as we expect more NFTs to launch their own token, with Enjin primed to support that market via ERC1155.
At a broader level, the possibility of collat lending is more enticing as NFTs are higher ticket items and make for better collateral, although the major barrier to this is the lack of liquidity.
Question: Ok so you’re thinking of ways CNTR can provide utility for these other projects? Not just planning an NFT drop for CNTR?
Sean:Yes to the former. Not an NFT drop for CNTR
Question: Anyway, would be glad to get some follow up on Cswap V2 if there is any. Also, would like to know if it’s possible to showcase Cswap swapping performance in a testing environment with similar amount of liquidity as Uniswap and such? (despite having trouble with the oracle, I remember you talked about testing on testnet already took place)
Sean: Ah for the testnet version that’s probably something we can work out. Will have to check with the devs to be sure. I’m assuming it would be some kind of fixed-price oracles or anchor to be used.
Question: I see. Glad to know that it’s possible.
So, I assume the oracle issue is still there? Any estimation on when V2 would be released?
Sean: Yeah, unless we build the oracles ourselves, we’re restricted by what’s available in the market. It would be possible to use some of the existing oracles but that would come with very high risks on liquidity debt for the platform
Question: This is very interesting. I was thinking that Centaur NFTs could be used as tokens to lock in value by offering higher returns but also dissuading selling sales through a high sale resale fee.
Sean: That’s a really good concept actually. it’d be somewhat of a modified staking program with compatibility for liquidity pools. Will speak to the team and explore this.
In any case I’ve got to go now but thanks for joining in today
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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Signing off,
Centaur
