The Daily Chain & ID Crypto Go Under Cover To Discover The Truth About Lattice Exchange
Keeping track of crypto projects can be a full-time job. Between websites, Telegram, Discord, and Medium articles, the amount of time spent digging for new information can be significant. For this reason, AMAs (Ask Me Anything) are always useful for community updates as users can ask creators and representatives directly. As the rapid development sometimes outpaces the ability to issue fleshed out Medium articles, these mini-interviews are valuable, especially for active followers. Recently, members of the Lattice leadership Ben Jorgensen (CEO & CO-Founder) and Mateo Gold (COO & CO-Founder) were on an AMA with IDCrypto.
Lattice is a decentralized exchange (DEX) solution focusing on high speed and low transaction costs. As a direct competitor to Ethereum-based DeFi, it focuses on the numerous weaknesses of the current ecosystem. Lattice will incorporate multiple AMM features and offer the ability to swap assets from different blockchains to deliver a smoother DeFi experience while utilizing the Constellation Labs Hypergraph technology. This cross-chain liquidity will be increasingly important. Projects like Tether are currently on multiple blockchains, but the mechanism to get USDT from Ethereum to Binance Smart Chain can be cumbersome at best. Being able to move from one blockchain to another quickly will be a Unique Selling Point (USP) once Lattice is released.
Mateo spoke at length about how Lattice will be able to help streamline and optimize DeFi.
“The unique thing about Lattice is that it is built on a groundbreakingly new infrastructure technology — The Constellation Hypergraph. The Hypergraph is a competitor to Polkadot and Ethereum. It features full horizontal scalability, near instant transactions and consistently near zero fees.
It is an operating system that allows for the buildout of Lighthouse applications like Lattice. Lattice features best in class DeFi features like:
- multiple asset specific AMMs,
- aggregated liquidity pools,
- smart routing
- and cross-chain interoperability with cross-chain pools and rewards.
There are not many functioning ecosystems out there that have a fully functioning mainnet running that can implement cross-chain swaps.
The LTX token will steer decentralized governance and incentivize user and LPs”
In particular, one question seemed most relevant to those who have been in the space for a while. Investors around 2017 were made promises about projects that have not yet created a working MVP or have run off with investor funds.
“It seems that a lot of projects from 2017 are gone and failed to deliver on their promises. How will Lattice avoid the same fate? How can we be confident that this token won’t disappear a year from now?”
Ben answered in kind. Spelling and emphasis added.
“A lot of companies failed in 2017 because they didn’t have professional teams and operators that are experienced business people. Constellation (what we founded in 2017) has successfully hit all of our milestones and deadlines to produce a base layer 1 infrastructure that competes with Ethereum and Polkadot. We have built our own consensus mechanism — based on algorithmic reputation — and have successfully deployed a main net (in May 2020).
On the business side, the United States Air Force is a client and we have a working contract with them (and there are many agencies in the government that we are working with — it isn’t just one customer).
Constellation is truly decentralized and running now (with validator rewards being earned by node operators). We have confidence and proof points that we can successfully deliver.
Lattice is our second venture and we are getting stronger and faster at building!”
The cryptocurrency community sometimes overlooks the relationship with the United States Air Force and other governmental agencies. It is a regular practice within the industry to announce “partnerships” that may be misleading, or only the use of a “partners” technology. But Constellation Labs is in constant communication with these governmental bodies.
Other highlights included a perspective on just how ambitious and expansive the Hypergraph project is. As Ben explained in the AMA, Constellation’s Hypergraph is a “base layer” protocol, upon which Lattice is built. In other words, Hypergraph is operating like the Ethereum blockchain, with Lattice being a single dApp. Once more projects and dApps are live, they will also live and run on Hypergraph.
Mateo addressed the question of attracting developers directly.
“As for developer adoption we have ample experience on how to govern and attract developers in a decentralized fashion, as we have proven with the Constellation governance board. Within that structure we have multiple sub-groups that are self-organizing — and were for example responsible not only for developer outreach but also the brand video you can watch on our website www.constellationnetwork.io
The minute you have a great value proposition and a proper SDK developer attraction is much easier and ties into our existing networks and outreach strategies”
Being able to handle this kind of information flow from projects like Lattice can be challenging. Going down these “rabbit holes” is sometimes so encompassing that other crypto projects are disregarded outright. In this case, Lattice’s ever-expanding capabilities may justify ignoring other projects with less visibility and less consistent updates.
Originally posted by The Daily Chain here.
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Lattice is a DeFi application built with Ethereum and Constellation’s Hypergraph Transfer Protocol (HGTP). Empowering users using advanced AMM algorithms.
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