Polygon Daily hosts Centaur Finance #CentaurFinance #PolygonDaily #Matic #DefionMatic #Defi
Polygon Daily – Admin: Today we invited a new friend into Polygon Daily town – from Centaur Finance @James_CNTR
James_CNTR: Hi everyone, thanks for having me! I am James, one of the co-founders of Centaur.
Polygon Daily – Admin: Ready to start our AMA?
James_CNTR – Centaur Finance: Let’s begin
Q1: Now to start the AMA, team Centaur Finance please have a quick introduction to the community. What is Centaur Finance?
James_CNTR – Centaur Finance: Centaur aims to bridge the gap between Defi and Cefi (cntr.finance/), which are the two main pillars that we are working on. On the DeFi side, we built and deployed three products, a crypto mobile wallet (Hadar (medium.com/centaur/hadar-multi-asset-multi-address-multi-purpose-wallet-fe27f383c46c)), a revolutionary AMM (Centaur Swap (swap.cntr.finance/)), and a Cosmos-powered mainnet (Centaur Chain (explorer.cntr.finance/)).
Q2: Please walk us through briefly about the core features of Centaur Finance.
James_CNTR – Centaur Finance: The three platforms are designed to be complementary to each other, with Hadar focusing on retail onboarding, Centaur Swap for experienced DeFi users and Centaur Chain for integration with traditional financial institutions. I’ll be sharing more about Centaur Swap as we recently deployed it on Polygon after months of hard work!
Q3: What differentiate your Centaur Swap from other AMM on the market? Can you share some numbers about TVLs and trading volume?
James_CNTR – Centaur Finance: Unlike most other AMMs which are forks of Bancor/Uniswap/Sushiswap, Centaur Swap was built from scratch to address three primary issues:
1. Remove the need for pair-based liquidity provision
2. Eliminate impermanent loss
3. Optimise trades and reduce slippage
This is achieved by employing technologies not seen in any other DEX in the market right now and we first deployed it on Ethereum back in April. Our goal was to enable liquidity providers to concentrate their funds into the token of their choice, instead of splitting their holdings in half for the trading pair, which is common across other DEXes. Due to this unique single-asset structure, an additional benefit was added, in that impermanent loss (a side effect of pair-based AMMs) was completely eliminated.
Q4: If Centaur Swap does not use trading pairs, how can you define the tokens price?
James_CNTR – Centaur Finance: Great question! The prices of the individual tokens are first calculated against USD by leveraging on Chainlink price feeds. After the prices are retrieved, a direct rate between the two tokens is derived (e.g. ETH/DAI by using ETH/USD vs DAI/USD). We then apply a premium or discount based on our unique curve algorithm that would incentivise arbitrageurs to rebalance our liquidity pools after trades are executed. The swap is initiated and enters into a settlement pool, which has a 3-minute timer to prevent oracle front-run attacks, before it is executed and the tokens are transferred.
Q5: Please walk us through your tokenomics. Where can we buy your tokens?
James_CNTR – Centaur Finance: We’ve got two tokens, Centaur ($CNTR) and Whey ($WHEY). $CNTR is the overarching governance token for our Centaur ecosystem and will be used to support our mainnet and other products in future, whereas $WHEY is the governance and reward token for Centaur Swap, which will be used to make on-chain decisions when we roll out the governance features.
Q6: Do your platform get audited?
James_CNTR – Centaur Finance: We’ve done a few audits for Centaur Swap thus far which covers both technicals and economic attacks. Technical audits are the common ones which ensure there are no bugs in the codes. Economic audits focus on aspects such as oracle and flash loan attacks. You can refer to our documentation [docs.cntr.finance/cntr/audit ] for the audit reports or this summary that we published on our medium [medium.com/centaur/centaur-audit-report-summary-f978fa1db11 ].
Q7: Let’s talk a little bit about your roadmap. What can we expect about the launch phases and the goals for each of them?
James_CNTR – Centaur Finance: We work with a dynamic roadmap that gets updated periodically [docs.cntr.finance/cntr/roadmap]. With the recent launch of Centaur Swap on the Polygon network, the next major step is an airdrop of WHEY for long-term supporters of Centaur. Once that is completed, we’ll start looking into the onboarding of additional tokens and protocols for Centaur Swap.
Q8: Where can we find out more about Centaur Finance on social media?
James_CNTR – Centaur Finance: Our co-founder Sean is very active in our telegram community @OfficialCentaur and we do bi-weekly AMAs and progress updates (every other Thursday at 4PM UTC+8). For quick updates, you can take a look at our announcement channel @CNTR_ANN or follow us on Twitter (twitter.com/officialcentaur).
Polygon Daily – Admin: Guys please go follow, make sure you ain’t miss a thing here
Source : bscdaily