Professor JEY Office Hour Recap (Week 1)

Please find below our weekly recap, survey question results, and the live community Q&A session that followed. If you missed it we hope to see you there next time!

We are very pleased to have concluded our first-ever weekly office hour.

Please find below our weekly recap, survey question results, and the live community Q&A session that followed. If you missed it we hope to see you there next time!

Weekly Recap

Central Exchange (CEX) listing

We are progressing further in listing on a leading CEX, with legal housekeeping as the next step. In the meantime, we are in talks with several Tier 2 CEX’s about listing. Please bear in mind that our discussions with CEX’s will not affect our decision to start the Token Generation Event (TGE) on September 15th.

Marketing

We are working with several media channels to increase brand awareness and make Integral a well-known name. We are now working with a few Chinese community channels to increase our exposure there.

Also, if you missed it, you can catch an interview with Professor JEY and Dylan Love from Token Metrics.

We’ll have more interviews coming out over the next few weeks. So stay tuned!

Hiring

We are pleased to announce and welcome some new members to the team! During the summer, we’ve hired 3 engineers (2 SC and 1 full-stack), 1 Director of Marketing, and 1 Community Manager. We’ve started working together, and you’ll see their hard work very soon!

Product

Our engineering team has been working hard on improving Integral’s performance under the new EIP1559 environment.

Also, we are working with one of the top design agencies for a website/dapp revamp. It’s still pretty early and will take some time to implement it but we are very excited to share this with our community in the future.

Q&A

Listing & Tokens

*Why does listing take so long?*

We were mainly focused on building out the Comparator upgrade from June to July. We started the listing conversations in August and are doing our best to be very compliant. Industry-wide, exchanges have added listing requirements over the course of 2021. To meet the last leg of these requirements, we engaged 3 law firms, and the process is taking much longer than we had expected. But we are getting there.

*Could there be another delay in listing?*

Regardless of the developments with listing on CEX, we’ve decided to start the TGE on September 15th, meaning if you have been with our community as an investor, farmer, or other earning participant, your vesting & claiming $ITGR will begin. On the CEX side, the timeline is still unfinalized, but we are getting closer to finalization.

*What is the plan for the TGE? LBP, launchpad, fair launch, etc.?*

We are thinking about doing an initial DEX offering before the token generation event starts, like a batch auction style. There will not be a lot of $ITGR put into this auction, just to provide some initial liquidity to the pool.

*Will the tokens unlock starting from the initial listing date or from 15/9?*

They will begin being unlocked from the 15th of September. We’ve got the token releasing and staking contract ready and audited!

*Are the participants of the hero contest still eligible to claim their rewards?*

Absolutely. These records have been hard-coded into the token claiming smart contracts, and you’ll see the balance of $ITGR after we launch the claiming page.

*Will Integral reward public seed investors for their patience?*

We understand that any delay is borrowed time from all $ITGR stakeholders. Thus every $ITGR holder will automatically earn 10% APY in $ITGR (3-year vested) to your current stakes, starting effective now (2021–06–14) until the listing day.

Strategy, Vision & Competition

*What is the long-term vision for Integral?*

We are first to the time-weighted average price (TWAP) execution primitive on-chain. This is where the bulk of Coinbase volume (in Q2 2021, [68% of Coinbase’s trading volume](https://s27.q4cdn.com/397450999/files/doc_financials/2021/q2/Coinbase-Q2%2721-Shareholder-Letter.pdf)) currently consists of.

*Why is TWAP so important for big orders from high-net-worth individuals and institutions?*

Imagine you are Elon Musk, and you want to buy ETH. Submitting such big orders directly on a decentralized exchange (DEX) like Uniswap will drive up the price. Integral is the world’s 1st DeFi primitive that efficiently executes such large orders, capturing large client trading volume for DeFi.

*Who do you see as Integral’s main competitors in the market?*

We occupy the niche of TWAP execution. There are no other players in this track, so it’s quite blue ocean.

*What methods or algorithms will Integral use to compete with Curve.fi?*

We quote better than Curve most of the time. We can take market share from them once we are integrated with leading aggregators.

Product

*What is the prepaid gas fee and how do we optimize it?*

The prepaid gas fee is an added ETH amount sent along with your Integral deposit/withdraw/trade txn. Since March 29, our developers have brought the original prepay fee from 0.2 down to the ~0.01–0.02 ETH range.

*Is it possible to increase Integral’s Comparator superiority to 99–100%?*

It is theoretically possible for superior depth at 90%+ of the time for the largest trade sizes. Farming has been ongoing to maintain TVL at these levels.

*Do you have plans to add atomic swaps?*

Not for now. Our main focus is on further developing our mechanisms (including delay) to serve the trader niche that needs TWAP execution style.

*Are there plans to integrate with DEX aggregators to drive more volume? Also, plans to roll out on a Layer 2?*

Aggregator integration will boost our volume instantly, and we are in talks with leading aggregators. We are also looking into Layer 2/rollup solutions.

*Will liquidity farming rates increase?*

The reason for cutting farming rewards is that the current product usage doesn’t need a very big TVL.

Operation

*How big is the Integral Team now?*

We now have 15 key team members.

*What impact do you expect from the US Infrastructure bill on Integral?*

Long-term positive, as more regulatory frameworks mean more traction in mainstream and opportunities to innovate.

*Do you have plans for any partnerships in the future?*

Yes, we have already closed a few co-marketing deals with other projects.

*What other coins are you looking to list?*

We are looking at other tokens that are block traded a lot and have good liquidity pools on Uniswap.

*Are there future plans to make Integral multi-chain?*

We are prioritizing L2/rollup solutions over other chains like Cardano or Solana.

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A special thanks to the community for their time and feedback and we look forward to hearing from you next week.

(Edited by @Skipper)