Introducing $ITGR : The Integral Governance Token

The Integral protocol token, ITGR (pronounced “it-girl”), is expected to circulate on September 15th, 2021. The initial distribution is expected to take place on Uniswap, then followed by centralized exchanges.

The official ITGR token address is 0xD502F487e1841Fdc805130e13eae80c61186Bc98.

There will be fraudulent copies of ITGR with different token addresses. Please do NOT purchase fraudulent ITGR tokens.

Why are we building Integral?

The financial sector has degenerated into a handful of monopolies that threaten to destroy the foundation of Capitalism: healthy competition. Sadly, Even crypto has come to be defined by the splashes made by institutions with names like Coinbase – charging outrageous fees due to the lack of competition.

Since the 19th century, monopolies have emerged as the logical conclusion of un-constrained capitalism. Regulating them is one way. But we think that a faster and cleaner way is simply to put the control of monopolies into the hands of its users.

In Q2 2021, 68% of Coinbase’s trading volume came from mega-large trades (are you surprised by this fact?). Integral is built to hit where it hurts – by making large trades efficient on-chain, we take the excessive exchange profits away from centralized monopolies and share the wealth with the people.

Also, we are very much driven by curiosity. And we personally feel that DeFi is the most interesting technological innovation happening right now.

Learn more through our Declaration Of Resistance.

What products do you currently offer?

In Q2 2021, 68% of Coinbase’s trading volume came from large institutional clients of the Microstrategy or Elon Musk variety. They customarily split their large orders and execute them over a long period of time. Institutions do trades this way directly and indirectly on centralized exchanges because they get the best prices with low visible impact.

We believe that this is about to change. And it is up to us to change this.

Integral is a DeFi primitive that efficiently executes large orders. It is the only such primitive with a functional product to date.

Integral works by executing an order accordingly to a specified oracle’s average price over a period of time.

Elon wants to buy $200m of ETH with USDC on-chain. He loses 8.79% instantly to price impact (according to an estimate by a leading aggregator taken on August 18, 2021). In contrast, Integral will execute this order according to the average ETH price over an appropriate period of time from 5-min to 1-week that causes a near 0% price impact. This creates a value of $17.6m for Elon for this single order alone.

Try our app here. Or Learn more through our Whitepaper.

A Brief History of Integral

July 2020 – March 2021 | Buidl

DeFi Summer 1.0, July 2020: we farmed bluechip protocols like Yearn, Curve, Uniswap, Sushiswap. We were dissatisfied that DEX/AMMs had two user pain points: their liquidity was not as deep as centralized markets for traders, and impermanent loss hurt LPs. We began studying all we could on state-of-the-art DEX/AMM protocols.

In late October 2020 we published the first of our whitepapers, On Equivalence of Automated Market Maker and Limit Order Book Systems, which drew praise from top DeFi minds like Tarun Chitra. We released 3 other papers in January 2021, which together motivate the mathematical hypothesis behind Integral’s design.

All the while, we were building in stealth mode as a small, self-funded, core team of 9 people.

April 2021 | Advisors, Gitcoin, NFT auction, Public Seed Round

We commenced with publicly building Integral’s online community while the finishing touches were coming in with 3 SC audits and a UX. Between March 6 and March 29, we grew 15-20% per day on discord rallying folks around a vision to bring more trading to DeFi:

Our ethereum mainnet deployment funds came from our Gitcoin Round 9 grant, which culminated in donating our “fund match” back to other projects in the Gitcoin community.

We released a call for applicants to become Integral Heroes to spread the word about the resistance. 800 candidates applied, and 380 were selected.

Our community’s NFT “Chad Resist” was auctioned and ranked on Opensea as a top NFT, changing hands at an ATH of 100 ETH.

We onboarded our core advisory supporters:

Tarun Chitra @ Gauntlet

Rob Leshner @ Compound Labs

Polychain Capital

Framework Ventures

We took $0 from private VCs. Instead, we raised publicly on-chain: $31,946,832 from our Public Seed Round, open to all KYC’ed investors, not just VCs. $24,728,620 elected 3-year vesting and the rest elected 6-month vesting.

April – June 2021 | $750M TVL

Integral Mainnet was launched on Ethereum, with the rollouts beginning March 29. Smart contracts have been secure since then. Integral’s fundamental financial principles have been verified to work.

An all-time-high $750M TVL was achieved in the first week of April. We have since then reduced farming rewards by 98.94% and still managed to retain a $54m TVL, which is still twice above our target $25m TVL set according to our actual product needs.

July 2021 | Better price than Binance 97% of the time | $435M Volume

The Comparator Upgrade was launched on mainnet so Integral users can compare prices across crypto. With a 5-min execution window, we are able to offer the best price among all DEXs almost all of the time for larger trades ($10,000’s and higher).

When compared with Binance, Integral offers the best price on a $1 million trade 97% of the time. With a small community alpha launch including a week of trade mining rewards, we achieved a trading volume of $435M (3 months) since late May.

Q4 2021 | Block trade product

We will focus our product efforts for the rest of Q3 and Q4 on the premier block trades product that offers a 1-day to 1-week execution window. This upgrade will directly address our target market of large trade of $3Ms – $100Ms in size.

Token Metrics

ITGR is a governance token that allows the Integral community to truly own & govern the Integral Protocol. All protocol values will accrue to ITGR token holders. All protocol profits (“trade commissions”, “exchange fees”) go to ITGR holders.

  • 40% to farming programs with 6-mo to 3-year vesting

    • Of which 18.78% has been farmed with 6-mo vesting

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

  • 25% to public seed round with vesting

    • 21% is subject to 3-year vesting

    • 4% is subject to 6-mo vesting

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

  • 5% to supply listing pools over 6 months

Liquidity Mining

ITGR can be earned through standard liquidity mining. The current emission is 159,000 ITGR (0.053% of total supply) per week, subject to 6-month vesting.

You can participate here.

Claiming ITGR

We will add a Token tab on Main App after the TGE, and this will be the only place to claim ITGR. After connecting your wallet, the tab will display the balance of your 3-year-vesting and 6-month-vesting tokens. They will both start vesting and be claimable after TGE (12:00 PM UTC, September 15th).

Please note that the balance numbers sum up all ITGR that you have earned of the same vesting period. For example, if you have earned 200 ITGR in the Public Seed Round and another 100 ITGR through liquidity farming, the balance of 6-month-vesting tokens will be 300.

We will share more information on this in the next few days.

Staking ITGR

ITGR can be earned through staking. You can deposit ITGR into the vault for either a 6-month lock period for an APY of 10% or a 3-year lockup period for an APY of 45%. The interest can be claimed every block. The initial deposit can be claimed back in full at the end of the lockup period.

The staking program will launch immediately after circulation. The smart contracts are here.

Governance

A community-managed protocol opens up a world of infinite possibilities. Our ITGR token contract is based on the Compound governance template and supports a similar range of governance capabilities.

We believe that a protocol is more than an economic machine. It is digital sovereignty that must be governed by its native residents. We think that true community ownership is the definitive advantage we have over centralized companies.

We think that community-led growth is more powerful than centralized growth. As soon as our product reaches product-market fit, we expect to decentralize completely all at once.

Optimistically, we expect this to be a company priority in Q1 2022.

Next Steps

  • Please follow our Twitter and join our Discord. There will be airdrops and rewards to be announced there prior to listing.

  • ITGR will start to circulate on Uniswap at 12:00 pm UTC, Sept 15, 2021.

    • The official ITGR token address is 0xD502F487e1841Fdc805130e13eae80c61186Bc98.

    • There will be fraudulent copies of ITGR with different token addresses. Please do NOT purchase fraudulent ITGR tokens.

  • ITGR will circulate on centralized exchanges sometime after the Uniswap launch. Please stay tuned.

Tags

Integral Insights

Updates

June 13th, 2024

Integral Insights May ‘24

Business

June 6th, 2024

How to Participate in the Arbitrum Rewards Campaign

125,000 $ARB will be dedicated to a 3-month liquidity mining program focusing on store-of-value (SoV) token pairs such as WETH-USDC, WETH-USDT, WETH-wstETH, and WETH-ARB.

Updates

June 6th, 2024

Unlock High Yields with Integral's $225K ARB Grant from Arbitrum Foundation – Join Our Liquidity Mining Program Today

Integral has been awarded a significant grant of 225,000 $ARB from the Arbitrum Foundation under the Long-Term Incentive Pilot Program (LTIPP). This funding will drive the growth and adoption of Integral on Arbitrum, benefiting the entire ecosystem. With 125,000 $ARB dedicated to a 3-month liquidity mining program focused on key token pairs like WETH-USDC and WETH-ARB, liquidity providers can enjoy high yields and reduced trading costs. Additionally, 100,000 $ARB will be allocated to incentivize integrations with aggregators, solvers, and vaults, fostering a more interconnected DeFi environment. Join us and be part of this exciting journey to enhance liquidity and trading on Arbitrum!

Updates

May 9th, 2024

Integral Insights April ‘24

The combined average daily volume across Ethereum and Arbitrum is now at 8.8 million USD, a remarkable 22% increase compared to last month.

Product

April 25th, 2024

Introducing New Pool Analytics: Elevate Your Liquidity Provision Experience

A standout feature in our latest update is the "LP vs Hold" tab, which provides a comparative analysis of various holding strategies against Integral's LP positions.

Business

April 1st, 2024

Integral Insights March ‘24

We achieved several important milestones, including a new all-time-high daily volume for Arbitrum and the addition of four new pools on the Ethereum mainnet.

Updates

March 4th, 2024

Integral Insights February ‘24

Another milestone was reached on February 21st when Integral processed over $2 billion in cumulative volume.

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.