Recapitulation of Lattice Exchange AMA event held at AMA LOVERS CLUB
Date: Monday, 2nd November, 2020
Time: 19:00 UTC
The Lattice Exchange team was represented by @mateogold and @AlyzeSam. They both judiciously shared with us detailed knowledge and information about the project.
1st Segment: INTRODUCTION
Q1 : Can you please introduce yourself and your background, also if you have a team, you can introduce them
Ans : Thanks for having us today! Here is a brief introduction from my LinkedIn: https://www.linkedin.com/in/bjorgensen/
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 humanisitic 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: www.constellationnetwork.io
Lattice Exchange Press: www.lattice.exchange
Q2 : Can you introduce the Lattice Exchange, what critical problems does it solve that existing solutions are not solving. What’s the competitve advantage over other exchanges
Ans : One of the cirtical problems we are trying to offer scalable and reliable decentralized financial solutions that will bridge mainstream financial services with the digital asset ecosystem. This is pretty exciting opportunity as our world is going through a massive transformation. Disintermediating data is becoming one of the hottest topics approaching 2021. We believe that financial services will be one of those services to be disintermediated.
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.
Q3 Can you briefly describe the Top milestones you have achieved and your target milestones with timelines, also share your roadmap
Ans : Absolutely. We are getting ready to release a quick UI demo on what users can expect to see out of our technology. It will be a simulated demo where we are plugging in the backend over the course of the next month. V1 - our MVP will be released later in November.
Our goal over the course of the next year is to introduce more advanced and complex AMM’s - methodologies and data science that is used in the Hedge Fund world (quants if you will). Right now, Smart contracts can only handle simple numeric values. With Lattice and through Constlelation’s ecosystem - we will be able to cryptographically secure more complex data structures. Constellation set out to cryptographically secure data pipelines - be oracles of data and measure the versacity of data. How this transcribes into DeFi - oracalizing data that can be used to create complex trade algos. In 3-5 year vision this will become a marketplace of oracalized and validated data (external data sources as well) that can be blended to create advanced trade algos - like those seen in practice in traditional securities trading and strategies.
On November 5th we will be doing several community IEO’s in Asia only. November, 6th we will be releasing on Uniswap.. and then shortly after we are listing on a few CEXs.
2nd Segment: TWITTER QUESTIONS
Q1 : Why is the #Lattice built with #Constellation Hypergraph Transport Protocol? Is there a collaboration with @Conste11ation? Are there any unique steps taken by @LatticeExchange to blend in smoothly in the DeFi Ecosystem?
Ans : Part 1: Constellation’s Network, Hypergraph, is a resilient decentralized network that is globally distributed and is built to cryptographically secure big data making this the first scalable cybersecurity solution for big data processing.
So the congestion issues around eth were the reason we started Lattice - as it puts assets at unnecessary risk.
Lattice will be ultimately built on the Constellation Hypergraph allowing for nearly instant transactions and cheaper fees. Especially for traders and users who use the DeFi ecosystem frequently, Lattice is the perfect solution.
Having the Hypergraph infrastructure is the defining difference. We have a network that is already up and running that allows for horizontal scalability. Lattice, as such, scales easily as the underlying infrastructure scales.
Our leadership decided to focus on helping kick start our developer ecosystem to showcase how to build end-to-end solutions and businesses in the Constellation ecosystem. Think of it like Microsfot as an operating system building WORD and EXCEL. These are applications that ride on the operating system. In the same way, Constellation is essentially an operating system and the best way to show how to build and why to build on the Hypergraph is to build it yourself - and then let developers and community followers to build scalable businesses.
Q2 : Your governance token $LTX gives holders certain rights or benefits in economic parameters. Which parameters are these, and do the benefits depend on the amount of tokens that a user held? What os the program for that?
Ans : We are working with multiple attonreys and are evoluating several different optionsLTX 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.
Q3 : DeFi ecosystem has made some giant stride towards a truly DeFi system. But high gas fees, slow transaction speeds, borderless swaps e.t.c have caused drawbacks for users and traders. How does Lattice aim to turn these weaknesses to its own strength?
From high level the Ethereum ecosystem is where the liquidity is. Many holders believe that this won't really change. We see a huge opportunity to capitlaize on the growth of the Ethereum network, and their limitations, and highlight Constellation's core features and strengths of being a scalable base layer protocol. We will build interoperability between ETh and DAG in Q1/Q2 of 2021.
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, aggregrated liqudity 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.
We are aggregating the best "products" in DeFI and on Ethereum, and aggregating them into Lattice but with near zero fees.
Q4 : Describe the functionality of AMMs, how can users handle this features to ensure total maximization of high yields while trading ?
Ans : AMM as automated market making algorithms that are the backbone of decentralized swapping platforms. Uniswap spearheaded it by introducing a simple and yet effective AMM. However, different assets like stablecoins and regular utility tokens have different underlying mechanics. That means if you use one AMM for all types of assets you will incur inefficiencies as a user and thus loos ROI through slippage. We adress that by having asset specific AMMs that are optimmized for the asset a user is interacting with. On top of that Lattice will automatically route a transaction through the cheapest route by aggregating different liquditiy pools from the ERC20 ecosystem as well as our own Lattice pools. Whatever route has the lowest fees and slippage will be taken for the user automatically. Lattice is meant to improve the ROI and reduce risks for the users.
Q5 : Flexible liquidity pool is a liquidity pool that allows lenders to earn transaction fees on their liquidity deposits. How can lenders earn transaction fees with their liquidity deposit? How does calculation be done with this? Thank you
Ans : We are still working on several models for this. Lattice will feature common pools of the erc20 ecosystem. Users can create their own pools as well. Smart routing will let traders get the best deal with the least slippage.
Additionally, the biggest benefit for DAG holders is to supply their liquidity to cross-chain pools and be able to earn LTX tokens. That means the DAG community can be actively involved in the governance and growing the first lighthouse project on the DAG Hypergraph. This makes both DAG and LTX more interesting from an ecosystem and user perspective.
3rd Segment: LIVE QUESTIONS
Q1 : Explain your plans on global expansion,
Q1) is it only market you are focusing All the time?
Q2) Or you focus on building or developing and getting customers and users, or partnerships?
Ans : q1: Great question. A lot of our focus in working with the US Airforce has been to validate our technology which improves our credibility for community builders that want to build on our ecosystem and for other businesses to build on our ecosystem. We will also use our community effort called Stardust Collective to help navigate the process for people and businesses to build on Constellation.
q2) we have more partnerships and businesses in the works that will show new opportunities to create end to end businesses on Constellation.
Q2 : " DEMO and MVP " are two unique features set to be launched by lattice exchange to show full functionality, none or very few crypto platforms have plans on DEMO , do you these features will contribute to the development of lattice exchange and why is the need for this ?
Ans : Great question. The Demo is to help give confidence to the community in what we are building and that we can build layer 2 technologies with great UI. Being a base layer 1, not many people can visualize what we build. The Demo will help showcase our ability to deploy layer 2 solutions and seed the community with an idea of what we are building.
With the Demo, we will also invite people into a new community to provide feedback and critiques of the platform and how to improve it. We want to work alongside the community, not just for the community, and we want them involved in the creative process. There will be a separate community built to handle feedback and feature requests.
Q3 : In a survey conducted online, people said they would use a service if the support was super responsive, Now How is your Support when handling issues? How robust are they to provide TRUST, SECURITY, privacy and dedicated services for the end users?
Ans : I completely agree with this. We all choose products that have great customer support and responsiveness. Over the past year, we have built an incredible community in Constellation - the Stardust Collective is one such group of about 35 people that are currently responsible for educating the community on Constellation. We aim to employ a similar model as it has been extremely successful. Additionally, the leaders of Constellation work hand in hand with admins to address the community head on. We take weekly calls with our admins to equip them with marketing material and insight so they can best serve the needs of the community.
We want to adhere to decentralized governance and open source development, but with the quality of centralized support... it is a rather hard effort, but we have shown over the past 2 years that we are up for it
Q4 : In Lattice Exchange, Constellation Hypergraph Transport Protocol (HGTP) is the solution to problems that defi applications often face, such as scaling, high costs and others. can you explain in more detail about HGTP and how the system works?
Ans : The Constellation Hypergraph is a novel mainnet technology that features high throughput as well as economic and technological scalability. That means our infrastrcuture 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 solutions 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.
Q5 : Which region in your mind that will be the most gainer market for Lattice? Also, Are Lattice Exchange targeting non-crypto user to make this crypto field better known?
Ans : Great question. One of our focus in our thought excerise as a team was "what would happen to DeFi in the event of a black swan event or market crash.... or if DeFi never expanded beyond the Eth ecosystem." In these moments, the small retail investor get’s hurt as they can’t pull out liquidity fast enough because of high gas fees. Lattice will not only provide a better solution for the retail DeFi player, but also institutions. While institutional traders might be ok with high transaction fees, this is only going to get worse as DeFi gets bigger. As such Institutional traders will want to create predictive trading models based on tx fees. Our goal is to provide a set of solutions to these organizations that allow them to create institutional and predictable business models so that they too can scale their businesses.
Before leaving, do you have any Final Words for the community, perhaps any important links or info we should be aware of?
This is a big week for all of us! November 5th starts the ASIA IEO process with several groups; then the 6th with Uniswap; 7th with CEX. Please tune into our community to follow along.
For a list of our partners and the incredible backers go to : www.lattice.exchange.
For our Telegram Community: https://t.me/Lattice_exchange
For our Vision Piece: https://medium.com/@benjorgensen/lattice-exchange-a-best-in-class-defi-project-built-on-constellations-hypergraph-fce5ca7706d9
For our recent Bad Crypto Podcaste Interview: https://badcryptopodcast.com/2020/10/25/building-a-better-ethereum-with-ben-jorgensen-of-lattice-network/
Follow Lattice Exchange on their platforms:
... Website: https://lattice.exchange/
... Twitter: https://twitter.com/LatticeExchange
... Telegram: https://t.me/Lattice_exchange
... Medium: https://latticeexchange.medium.com
... Facebook: https://www.facebook.com/LatticeExchange
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