Lattice Exchange

Dec 13, 2020

12 min read

Blockelite x Lattice Exchange AMA Recap

Thank you to everyone who joined AMA Blockelite x Lattice Exchange on 3rd November at 3 PM UTC I 10 PM UTC+7. Here is the recap for those who missed this AMA. Originally posted by BlockElite here.

Our special guest today is Ben Jorgensen — Co-Founder & CEO of Lattice Exchange and Mateo Gold — Co-Founder & COO of Lattice Exchange

Segment 1:

Q1: Can you briefly introduce yourself as well as Lattice Exchange?

Here is a brief blurb from my LinkedIn:

Ben Jorgensen is an American entrepreneur and investor that focuses on emerging technologies and the culinary world. He is currently based in the San Francisco Bay Area and originates from Fort Wayne, IN. His focus is to develop sustainable and scalable businesses while optimizing human creative innovation. With an academic background in Anthropology, Economics, and Political Science he weaves a humanistic cultural perspective with economic viability throughout his visions. He currently is 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.

Constellation Network Press:

Lattice Exchange Press:

Hey all I’m the COO and 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.

Q2: Lattice is a decentralized finance (Defi) application built with Constellation’s Hypergraph Transfer Protocol (HGTP). Can you introduce more details about HGTP? What are the benefits of applying HGTP?

The Constellation Hypergraph is a novel mainnet technology that features high throughput as well as economic and technological scalability. That means our infrastructure is meant to process high throughput and the throughput grows with the number of nodes on the network. We see it like a Microsoft operating system. You have a powerful operating system as the foundation and now people want to see what you can do with such an operating system. So we are building lighthouse applications like Lattice to show what such an infrastructure can do. The same way Microsoft built excel, word and access as foundational pieces on top of their windows operating system.

We anticipate that people will be starting to build their own applications on the Hypergraph soon when they discover that they can scale their business model much easier than on Ethereum and that they can integrate blockchain technology extremely easy into existing frameworks. Thus as developer and user adoption are the goal for the Hypergraph and Lattice we expect another wave of applications and token raises on the Hypergraph. Scalability is not just about the technological progress, but the economical, social, and operational aspects as well: it needs to incentivize multiple layers, be easy to procure and consumer, and work with a multitude of use cases.

Q3: How is the Lattice development going on? What solutions can Lattice offer and will it be useful in the future rather than other Defi projects?

With Lattice we focus on taking Defi a step further by building on the Hypergraph. We will be providing the best price and profitability for protocol users.

Lattice 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 merge the best in class in DeFi but on a scalable protocol.

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.

Can you talk more about AMM?
Use smart contract?

AMMs algos are the one that steer trading activity on decentralized swaps. One can improve their functionality to develop asset specific AMMs that have better profitability and less slippage in mind.

Q4: What role does the Lattice token (LTX) play in the Lattice ecosystem? What are the user benefits of holding LTX in the long term?

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).

45% of token is used to LM , right ?

slight correction

Q5: What is the market strategy of Lattice to get mass adoption by millions of users or investors outside the crypto space into your project?

Our goal with the marketing efforts is very simple:

1. Produce an MVP that aggregates the best in class products in DefI with a competitive edge that captures liquidity and trading volume from the Ethereum network. During this time, we will expose the crypto community to the scalability of the DAG ecosystem and our base layer protocol.

2. We will launch staking mechanisms for DAG in Lattice. This will highlight ways that Constellation’s DAG token can be used as an alternative ecosystem token. The entire DeFi space needs to expand beyond the Ethereum network, or we are in grave danger. Think of it like a country that doesn’t have access to other countries — your economy will fail.

3. We aim to bridge the traditional financial services industry with DeFi and digital asset economy. We have already planted the seeds in this by bringing on more institutional backers into the private sale of Lattice. Additionally, our experience with the US Air Force is giving us validation that will create a positive signal to more businesses and services to use our ecosystem to oracalize data in a scalable way

Segment 2: best questions from Twitter

Q1: The world are changing to crypto. And exchanges make lot of contributions in this changing world. What will be the future of lattice exchange? What are the lifetime goals they are looking at? @abinsiby7

Lattice has a prime position for being THE centerpiece for trading and cross-chain activity between the ERC20 world and Hypergraph. That means we have a mutli year roadmap to buildout the asset ecosystem in defi. We have a huge opportunity to develop completely novel asset classes like data derivative tokens based on the HGTP that are cross-chain liquid, NFT implementations etc. A lot of interesting stuff in our heads and roadmap we are usually not talking about since building the foundation with Lattice comes first before we can expand on the vision and buildout.

Q2: As a new comer, which steps will be the easiest way for a random person to building decentralized marketplaces on @LatticeExchange ? Which conditions and requirement does it need? @mostofa50mk

Great question. The initial release on Lattice will be to trade on Lattice. At later stages we are exploring allowing people to build better algos for trading — hosted and validated on Constellation’s Hypergraph. This would be like a marketplace where people can choose certain algos — with certain oraclized data feeds (also validated on Constellation’s hypergraph) — to create competitive trading solutions and businesses.

Like Hedge Funds in equities markets — they all have a unique competitive edge and they sell those services and theories to their clients

Q3: What are the governance benefits of the $LTX token within Lattice? Will it allow me to just participate in the decision making process? Will I be able to do more than that? @shihazemr

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.

Q4: Being a DeFi and seeking to decentralize assets, what is the importance of the community and what participation will it have in the development of the currency ? @johndonus

The most important thing is that Decentralized Finance can offer scalability through disintermediary control — which is self regulated — the highest form of accountability. This will usher in a range of new solutions and products that breakdown traditional financial services (how we get loans, how we are rated to get loans — for example) and ultimately give access to capital to more people across the globe. Redefining how we grow economies.

Can we get loans?

we have some interesting things we are working on behind the scenes with philanthropic organizations.

Is the service fee high?

NO! The beauty of a feeless DAG ecosystem. Applications are free to put their own service fee on top of Constellation.

Segment 3: Live questions.

1. Constellation is working with the U.S. government for some months. How will it benefit the Lattice Exchange project as well?

We have been working with several organizations in the US Government — multiple agencies (there are hundreds — possibly thousands in the overall government). The US Government is actively looking for leadership in the crypto and blockchain experience. Our experience in working with Data and the entire crypto industry (including DeFi) helps them better understand how to work with the industry. As for how we help the US Government through Lattice — that remains to be unseen. Nearly every government is looking to digitalize their financial arm (China leading the way) — but then how do you connect national currencies to meaningful financial products in the digital asset economy in the same way that the FED provides money to banks…

2. Many projects rug pulled and exit scam recently. Why should investors trust your project not to do the same?

Unfortunately decentralization also brings decentralized scams and crime. The way people can assess the validity is by checking the institutional backers behind a project, what the team has built so far and how long they have been in the industry.
In our case we have built a completely novel DAG network already with government contracts and a token that is traded since late 2018. We are all experts in this industry for a long time and we are building on a longterm vision to make the Hypergrgapgh the most widely used blockchain ecosystem out there. As such we position Lattice as the Lighthouse projects around finance, defi, and tokenized assets.
It is just one piece of a much larger vision.
Ultimately everyone needs to do their own due diligence and research before backing or interacting with a company in this industry.

3. How closely related are Constellation and Lattice Exchange? Is the same team focused on both simultaneously?

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.

4. What is your strategy to fund the marketing campaign for OpenDeFi that will be needed to gain visibility and build a user community base?

Great question. We aim to make a lot of our source code open so that people can iterate and build. Our first step to this is opening up a telegram group to give us feedback on our Demo and the UI (what features and functionality do you want to see). We are making this open to the community. Additionally, and through Constellation, we have proven that we can build decentralized governance with over 45 nodes — distributed globally — that earn rewards and uphold the network.

5. Recently, we saw hackers stole large amounts of money on an exchange. How secure and safe is

We are following best practices in the industry in regards to security. and we are engaging with security audit companies that check the smart contracts we use.

6. What is your Approach to the Blockchain Trilemma?
Or the Scalability + Security + Decentralized all at the same time?

You can check the videos on the constellation youtube as well as our white papers with the Constellation CTO Wyatt to learn the deep end of how we solve scalability. In short it’s based on a novel consensus called proof or reputation.

7. What is your strategy to fund the marketing campaign for OpenDeFi that will be needed to gain visibility and build a user community base?

as ben has outlined before we have a full marketing team and plan in place that raises awareness across many outlets and channels. Alyze and her team has been doing a fantastic job and she will continue doing that according to out roadmap.

8. What is the potential of tokenization of traditional assets, for example are you talking about tokenization of Apple or Tesla stock shares? Could you please explain with a real life usage scenario?

This is an interesting concept that I am sure is coming down the pipeline. A few years ago, a company created gift cards where you could buy stock in Apple or Google at your grocery store. There has been some innovation in the space and a push to digitize securities through partial ownership. The question remains, is there really a dire need to use a token to fractionalize ownership if in fact there is a lot of regulation around those assets. What I think would be interesting is that the INFORMATION that makes up the asset is itself protected — this is where Constellation’s HGTP would come into play — we cryptographically secure the contents of an asset — not just the asset itself. This is where real value will be created.

9. Can you list 1–3 killer features of Lattice exchange that makes it ahead of its competitors? What is the competitive advantage your platform has that you feel most confident about?

cross-chain liquidity

I love this community. These questions are awesome. I think you all would find a great spot at Constellation and Lattice as we have riveting conversations

stay in touch with us:

Our AMA session is now over !!!

Join The New Face Of DeFi

Lattice is a DeFi application built with Ethereum and Constellation’s Hypergraph Transfer Protocol (HGTP). Empowering users using advanced AMM algorithms.