Integral Public Seed Round

Invest early with the best VCs on equal terms

April 22nd, 15:30 GMT at https://sale.integral.link (will go live closer to the start)

A PDF version of sale deck can be viewed here.

A Russian version of sale deck can be viewed here. (Shoutout to our hero @SmpIR for the translation!)

Invest early with the best VCs on equal terms

There is no pre-sale. The only outside funding we have received is from Gitcoin donors. We offer you the same deal that the best VCs get if you are willing to think long-term and take on the same longer vesting.

Everyone before (including farmers) and at this public sale is vested and is long-term aligned. Flippers have been kept out.

We believe that this is a viable model for the future of venture investing.

Sale Mechanics

The sale runs for 6 days, where the price is determined at the end based on total contribution. In other words, everyone gets the same price. No front-running.

You can allocate your contribution between two options. Option 1 is the main event and includes most of the supply. It has longer vesting with a steeper discount.

Because everyone is vested, there is limited selling pressure at the listing (late May).

On Day 1, Option 1 will earn a small early believer bonus (For every 1 ITGR purchased, receive 0.05 more ITGR).

Token Model & Metrics

All protocol values will accrue to ITGR holders. Owners of enough ITGR will be able to trade for free. This model economically captures all trading fees while incentivizing long-term holding. Owning ITGR is owning a piece of future crypto GDP.

Additionally, you will be able to stake ITGR for inflation yield and use ITGR as collateral in other protocols.

Token supply: 30,000 ITGR

  • 40% to farming programs with vesting (12% farmed by the time of listing)

  • 25% to founders and employees with 3-year vesting

  • 25% to public seed round with vesting

  • 5% to advisors and collaborators with 3-year vesting

  • 5% to supply listing pools over time

All vesting starts from listing in late May and then linearly distributed over time.

Actionables


Project Overview

10,000x Vision: Building the Last Exchange

Our primary research question was: “What would be the final form of AMMs?” And the answer: “One that eats other exchanges’ liquidity.” We are molding Integral based on this final form, for it to become the last exchange. 

Whenever another exchange tries to beat us with better liquidity, we mirror their liquidity onto ourselves until we regain the world’s best liquidity again. This process can be thought of as a continuous vampire attack until all world liquidity is integrated by us.

As we crush incumbents, we will start building out a competitive market clearing functionality that allows people to bid on providing market-making strategies. As we prepare for the end of world liquidity around us, we can then wean off the mirroring, and start to function independently as the last exchange.

Launch Week Numbers

  • $750M+ TVL.

  • On a $100k ETH-LINK trade, save $380 compared to Coinbase Pro and $355 compared to Sushiswap (best pair liquidity in CeFi & DeFi). 

  • ETH-LINK sustainably mirrors Sushiswap’s $200M+ pool with a mere $10M+.

  • 3,700+ strong in Discord w/ 440 volunteers.

Team

We are a self-funded team of nine (including 4 friends from Harvard) working with the Ethereum and DeFi OG community.

  • Our professional backgrounds: Academia in top US universities, Quants from top 5 US shops, General Partner at the longest running crypto hedge fund, Tech lead at a series C SV startup, Growth lead from a top crypto project, SC experts from the Ethereum community.

  • Our daily collaborators include a collaborator on the Ethereum yellow paper, a current ConsenSys PM, an ex-ConsenSys SC expert, an ex-OpenZeppelin SC expert.

Advisors

  • Rob Leshner, Founder of Compound

  • Olaf Carlson-Wee, Founder of Polychain Capital

  • Michael & Vance, Framework Ventures

  • Tarun Chitra, Founder of Gauntlet

Funding History

  • We are a fair launch project. There was no pre-sale. 

  • Our only outside funding is from Gitcoin grants (we are the #1 dapp in GR 9). 

Learn More About Integral

App

Sale Website (will go live closer to the start)

Substack Blog

Twitter

Discord

Documentation

Community Page

Coindesk Feature

DefiPulse Feature

Sale Deck


Disclaimer: Integral prohibits access to its public sale from China/Canada/US due to regulatory uncertainty in those jurisdictions. China/Canada/US-based IPs will be blocked on the public sale website. Please read Risk Factor Exhibit before participating in this sale.

Tags

Integral Insights

Updates

February 1st, 2024

Integral Insights: January ‘24

Our initial launch with the ETH-RPL pool was a success, quickly elevating us to the second most utilized liquidity pool for this pair’s trading.

Research

January 17th, 2024

Is Liquidity Fragmentation Really That Bad?

When the token evolves into a store of value, it attracts outside traders, focusing on trading costs and slippage. This is when concentrated liquidity truly shines.

Updates

January 2nd, 2024

2023 Review

At Integral, our focus remains on developing a sustainable product for on-chain trading, serving both traders and liquidity providers.

Updates

December 12th, 2023

Integral Now Rewards Liquidity Providers with Trading Fees on Ethereum Mainnet

This enhancement enables liquidity providers (LPs) to directly receive a portion or all trading fees from Integral pools.

Updates

December 6th, 2023

Integral Insights: November ‘23

During November, Integral processed an average of approximately 6 million in volume with around 1.5 million in TVL. The system’s overall capital utilization sits at around 350%. It is the 10th most used DEX on Ethereum.

Updates

November 28th, 2023

Integral Now Rewards Liquidity Providers with Trading Fees

This enhancement enables liquidity providers (LPs) to directly receive a portion or all trading fees from Integral pools.

Research

November 15th, 2023

How Do University Blockchain Societies Gain So Many Votes?

Explore how university blockchain societies like FranklinDAO and Michigan Blockchain have grown into influential players in DAO governance, utilizing delegated votes and strategic partnerships to shape the future of DeFi protocols like Uniswap, Compound, and Aave.

Updates

November 6th, 2023

Integral Insight: October ‘23

We give an update for our work in October and highlight a profitable LP position from a long-term user.

Research

October 26th, 2023

Understanding the Stakes in Lido’s Growing Share of Staked ETH

The community is arguing whether a protocol may have too much control over the Ethereum network. Lido controls a large percentage of staked ETH, which could have consequences for the network’s future security and neutrality.

News

October 14th, 2023

Changes to Staking and Farming

Looking back at our progress so far and to the future with new updates to staking and farming.

Updates

October 11th, 2023

Integral Insight: September ‘23

We give an update for our work in September with utilization going up on higher volume for our new pools.

Research

October 11th, 2023

The Hottest Narratives of the Summer

What were the hottest narratives of the summer? Our DeFi research team delves into the growth of trading bots, RFV traders and more in this overview.

Research

October 2nd, 2023

Uniswap Governance: A Deep Dive

Governance is considered a critical component for the decentralization and community-driven development of DeFi protocols. We take a look at one of the largest goverance ecostystems in DeFi, Uniswap. In this blog post, we'll discuss the landscape of Uniswap's governance, pulling data from empirical research to dissect the system's delegates and proposals, revealing some interesting findings.

Research

September 19th, 2023

What is the DAI Savings Rate (DSR)?

Our research team takes a look at the DAI Savings Rate and its influence on various yield dynamics in DeFi.

Updates

September 15th, 2023

Integral Insight: August ‘23

We give an update for our work in August with cheaper gas fees and the launch of the Integral Relayer on Arbitrum!

Product

September 7th, 2023

Integral Relayer Launches on Arbitrum

We are excited to announce the launch of the Atomic Relayer on Arbitrum. This will bring the efficient and tested system for atomic trades to the Arbitrum Layer 2 network!

Research

August 26th, 2023

How CRV Got Sold OTC

In this post we cover how the Curve founder sold large amounts of CRV in over-the-counter trades in order to prevent a potentially catastrophic liquidation event in DeFi.

News

August 18th, 2023

Integral Insight: July '23

Sharing our progress in July: preparations for atomic swaps on Arbitrum, trading SIZE with lower gas fees and more.

Narratives

August 4th, 2023

Can Real Yield Replace Token Incentives for LPs?

DeFi protocols have relied on the distribution of native tokens to incentivize liquidity providers (LPs). In a previous post, we delved into traditional liquidity incentives and the utilization of vote-escrow tokens. Now, we shift our focus to a fresh approach that has captured the attention of DeFi enthusiasts: concentrated liquidity methods.

News

July 29th, 2023

Post-Mortem Report: Precision Error for Actions in Integral SIZE

A potential vulnerability was identified in the Integral protocol via our Immunefi bounty program. We did not observe the exploit active in production and we have since deployed a patch and the system is back to running as normal. No user funds were lost.