Thank you to the NanoNews Community for participating in Ask Me Anything (AMA) with Lattice Exchange on October 26, 2020. This guest star Benjamin Jorgensen , Founder Of Lattice Exchange, and Mateo Gold Founder Of Lattice Exchange . If you were unable to join the live AMA, no worries, here comes our 81th AMA recap!
We are glad to meet here:
Benjamin Jorgensen, Founder Of Lattice Exchange
Mateo Gold, Founder Of Lattice Exchange
For taking your time out from busy schedule for the AMA!
Q1: Can you introduce yourself to the community? What is your background and how did you join Lattice exchange ?
I am currently based in the San Francisco Bay Area and am originally from Fort Wayne, IN. My interests have been to develop sustainable and scalable businesses while optimizing human creative innovation. With an academic background in Anthropology, Economics, and Political Science I weave a humanistic cultural perspective with economic viability throughout the visions. I am currently CEO and Co-Founder of Constellation Network, Co-Founder of Lattice Exchange, and Co-Owner of MZ Dining Group by Chef Marc Zimmerman (Ittoryu GOZU — San Francisco), and A-Five Meats, LLC.
Mateo Gold :
I’m mathias I’m the Co-founder of Constellation and Lattice we are ushering in the third generation of Blockchain technologies centered around a new consensus algorithm and a mindblowingly different infrastructure logic — with tons of new applications and use cases. https://www.linkedin.com/in/mathias-goldmann-711a85110/
Benjamin Jorgensen :
Lattice came about after we thought about a viable business to build on top of the Constellation ecosystem.
Q2: Can you briefly describe what is lattice exchange ?
Lattice is the evolution of existing DeFi solutions by providing the best price and profitability for protocol users. It enables smart routing for trades and the ability to aggregate liquidity pools and incorporate multiple Automated Market Making (AMM) algorithms on Constellation’s scalable Network.We saw a massive trend occurring in crypto that brought new fundamentals to the space — that merged fundamentals of BTC — but applied it and repositioned it in a new utility. We went through a thought experiment where we saw the entire DeFi space as a bunch of band aids on top of a broken base layer 1 protocol (Ethereum). We saw an opportunity to showcase Constellation’s scalability (economically and technologically) through Lattice and merge the best in class in DeFi but on a scalable protocol.
Q3: What companies/projects do you see as competitors, and how does lattice exchange stand out compared to them?
We Lattice as a one-stop-shop — or the best of DeFi (uniswap to 1inch exchange). Solano is a pretty interesting project that is built on Serrum. They seem to have an smart direction to evolving the blockchain space.
In the first buildout stage we are aggregating similar features to 1inch.exchange however we are taking it a good step further by introducing cross-chain liqudity and transaction routing through the constellation hypergraph
We are able to build on both due to the fact that our keypair algorithm is compatible wit ETH and BTC already. That means we already have cross-chain compatible wallets built into our infrastrcuture. As such that allows us to build and interact with both chains quickly and easily. We will build out Lattice in stages. V1 will be built on ethereum and we will move to cross-chain and cross-chain pools by our V2 and V3 early next year.
Benjamin Jorgensen:In our MVP we are going to deploy a user friendly interface like Uniswap while aggregating liquidity pools (1inch exchange). Our focus is to not be too innovative on our MVP as we want to work with what people are familiar with. Additionally, LTX will be an ERC-20 token. Finally, trade settlements will occur on Ethereum — essentially this is where liquidity is (we capture market share and interest where it currently is). In Phase 2 at the end of the year, Lattice will already feature as a hallmark cross-chain liquidity and cross-chain pools. There are not many ecosystems out there right now that can handle this aspect in relation to swappable assets.
Q4. What is the use-case of the The LTX token ?
LTX is a governance token. It will let participants orchestrate the Lattice ecosystem and provide insight into how it operates. LPs will be rewarded in LTX. LTX will give them access to governance of the Lattice Exchange. We are exploring some really unique things around the governance of trade settlements and alternative business models. Our goal will be to give governance participants the ability to create scalable businesses out of Lattice. What we are doing here has not been done before. LTX could be used for fee rebates as well allowing holders to save on trading fees. DAG holders will benefit from LTX as they can get rewards for the liquditiy they provide on cross-chain pools.
We are in the last few days of deploying our MVP (and Phase 1) — we are very close to getting this out the door and in the hands of Lattice followers. This is a rather aggressive timeline, but we have a big vision to take this.
Our MVP (we internally call Phase 1) is to create a competitive project to 1Inch and Uniswap. Uniswap has a nice UI and user experience — we want to keep that trend going and make it rather easy for users to work with Lattice. Our MVP will aggregate liquidity pools and introduce multiple AMM’s that are coin specific. Our MVP is scheduled to be released before the end of the year and we already have a completely new engineering team building it out.
Our MVP is to establish ourself in the market with a product that people know how to use and understand. In Phase 2 — we will being introducing trade settlements on DAG. Because of DAG’s feeless structure we can incentivize volume trading by working with near zero transaction fees. This is going to be a huge leap in the DeFi and crypto space as we aim to provide cross chain liquidity between DAG and ETH — allowing DAG holders to stake DAG and earn LTX rewards.
Q1.The United States government has been using Constellation’s technologies in recent months to create a trustless transaction system with secure tokenizing to DLT (distributed ledger technology). How can these technologies be led further and utilized by Lattice Exchange?
Well — I think that Constellation is showing that there needs to be an evolution of blockchain technology to be more scalable to meet the demands of major institutions like the US Government. Lattice is an application built on Constellation that articulates a clear competitive value proposition on what you can do with a scalable base layer 1 blockchain technology. We have had a lot of success and a lot of eye balls on Lattice for this very reason — there are limitations in existing DeFi projects that are not scaling the entire industry.
As such, we have had a lot of institutional backers come into Lattice to make this the default DeFi solution in the space — because of our professionalism and ability to use scalable distributed system and blockchain to solve real world problems that we face today and what we will face in the next 5–10 years
Q2.What are the main benefits offered by the Lattice $ LTX Governance Token? And how does the DeFi ecosystem benefit or benefit from MMA based on the liquidity pool?
LPs will be rewarded in LTX. LTX will give them access to governance of the Lattice Exchange. We are exploring some really unique things around the governance of trade settlements and alternative business models. Our goal will be to give governance participants the ability to create scalable businesses out of Lattice. What we are doing here has not been done before. LTX is a governance token. It will let participants orchestrate the Lattice ecosystem and provide insight into how it operates (this will come in a myriad of ways). People that stake DAG will be able to earn these tokens. We are working on a rather evolved tokenomics that weaves LTX and DAG rather nicely (and something that hasn’t been done and will ensure a balanced ecosystem)
Q3.You’re currently running two projects simultaneously, Constellation and Lattice Exchange.
Could it cause some difficulties for you considering that resources are limited? How will these projects supplement each other?
When you have incredible founders and a great team — you can move mountains. Lattice is a great way to show people the potential of our ecosystem and the features and functionalities of Constellation’s Hypergraph. Lattice is the financial arm of Constellation. Think of it in an operating system sense like Microsoft. Microsoft had to build Word and Excel for people to understand how to use their operating system. Then people built entire businesses on Microsoft! Our goal is to evolve Constellation. All of our efforts help the entire ecosystem grow.
Q4.the difference between a Latticeexchange and the others is true decentralization … it’s very interesting to watch it … how does true decentralization work? will it be able to make a difference?
Decentralization comes through governance as well as technology. That’s why the token is important for platform governance. As our infrastructure is governened completely decentralized and the architecture is completely in line with decentrlaized pricinciples (no masternodes etc) this makes it a lighthouse project to uphold the original values of decentralized blockchain systems. As we have successfully setup and established a well oiled governance group on constellation and we are experienced community builders Lattice falls right into the same swim lanes.
Q5.Let’s talk a little bit about Lattice Exchange’s security. Has the site been audited? With which company? What are the results?
First, we will be using audited smart contracts for minting of the token. Second, Security comes baked in the Hypergraph and in Lattice through multiple angles. Security is one of the aspects why the federal government is working with the Constellation team to append security to data pipelines and comm channels.
Additionally, we have put together this diagram to show how we have multiple layers of security. Beyond double spend, we have multiple (concurrent) consensus mechansims as consensus is one of the key features of a decentralized network and no network can optimally be run by one consensus. By using multiple conesus mechanisms, we assure speed and security.
Q1.How can we as users individualize the AMMs that Lattice Exchange is using? How does it make sure that we have the least slippage and highest amounts when trading?
So in the second buildout phase we’ll be implementing tailored AMMs for specific token pairings. That means they are optiized in relation to the asset traded. that decreases slippage and favors the traders. Also, our own liqudity pools as well as the aggregated pools throughout the ecosystem through which trades are being smart routed will help the trader and ensure an optimal outcome in regards to slippage and price for the user.
Q2.Looking at the congestion of Ethereum Network at the moment, hw can users move funds from ERC-20 Network to DAG blockchain without too large costs?
the funds are being moved through a cross-chain swap from the erc-20 to the DAG ecosystem. In the third buildout stage users will be able to swap any erc20 asset with DAG and DAG-state channel tokens on the DAG ecosystem.
Q3. Are there other solutions that can increase transaction speed and solve the current AMM problems? What is the difference between them and HGTP? What are the characteristics of HGTP and these solutions?
Currently, the EVM (ethereum virtual machine) cannot support complex trade algos needed to evolve AMM. The EVM is built on a base layer technology. Constellation’s base layer 1 technology will support more complex trade algos — like oracalizing data so that traders can use multiple databases to build more advanced AMM. We also believe that smarter and faster trade routing will result in advanced AMMs. You can do this through more sophisticated pre-processing of data — whiich is what Constellation will provide.
Q4.If regulations change tomorrow, how to incorporate them into a tokenized security? How to comply with regulatory authorities in terms of KYC, DD and AML? How to enable dispute resolution mechanisms and enforce a transaction or reverse it?
Being a US company, we have to always comply to evolving standards and policies. We have a team of legal experts that are keeping us in tune with the current market.
Q5.Many platforms already uses AMM or Automated Market Maker. So with Lattice Exchange, how does AMM being utilized? Why do you choose AMM? What are the pros and cons of AMM in your platform?
AMMs are the recipe of success that started the defi revolution. Centralized order books are another method of facilitating trading and exchange. Our infrastructure works well with AMMs and they are well established in the ecosystem. What we do is make them better, faster and cheaper for the user through using the Hypergragph infrastrucutre.
Q6. What is the difference between Lattice and Uniswap and other exchanges already on the Ethereum platform?
none of them has cross-chain features and an infrastrucutre that is
a.) already working and
b.) really fully decentralized
Q7. 🌺On moving forward through your roadmap, what are your most important next priorities/Milestone? Does Your Project have enough fundamental (Funds, Community, ect) to achieve those milestones?
By the end of the month our Demo and MVP will be released to show functionality of the Lattice Platfrom. By the end of November we will have a fully functional MVP for people to swap on. Early November we will have the TGE. Phase 2 will kick off in early 2021 where people will be able to stake DAG and earn rewards.
Thank you! Great questions. Please join our channel and we would be happy to write out more detailed answers
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Originally posted here.
AMA Recap NanoNews with Lattice Exchange - NanoNews
Thank you to the NanoNews Community for participating in Ask Me Anything (AMA) with Lattice Exchange on October 26…
Join Lattice In Redefining Freedom
Lattice is a DeFi application built with Ethereum and Constellation’s Hypergraph Transfer Protocol (HGTP). Empowering users using advanced AMM algorithms.