Professor JEY Office Hour Recap (Week 3)

We are very pleased to have concluded our 3nd 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

Listing and Launch

We’ll be working with DODO to launch a small token auction for newcomers to our community. Below are some facts about the auction: 

  • Amount of tokens for auction: 100,000 ITGR (0.03% of the total supply) 

  • Floor price: 0.9812 USDC Max price: 2.10 USDC 

  • Personal hard cap: 300 USDC 

  • Size of the whitelist: 1000 people

You can read more about the auction here:
https://integral.link/blog/100k-newcomers-auction-whitelist

Timeline

Below is a simplified timeline about what will happen between now and September 15th, the TGE:

  • September 10th 12:00 PM UTC: Deadline for applying for auction’s whitelist

  • September 12th: If you are selected for the auction, you will receive a confirmation email from kyc@integral.link 

  • September 14th: Auction starts 12:00 PM UTC on https://app.dodoex.io/

  • September 15th: Auction ends. Time release/staking contracts go live (you can claim and stake then) and the Uniswap pool will be up and running.

Community

We now feature on Lunarcrush and Messari!  
Lunarcrush can be used to view our progress we have in terms of marketing and social engagement. Messari is a useful tool for project details and market data like charting and supply metrics. 

Community-building-wise, we are seeing 10% increase of our twitter followers and discord members. Well done guys! We hope you can keep sharing our community on social media! 

Q&A

IDO, Listing and Crowd pool

Why are you conducting a new public sale auction to 1000 people? I think, this will affect the $ITGR price and you have already concluded a public seed round?

Think of it as a thank-you note to our community. Our community has grown bigger since our public seed round, but for people who joined the community afterwards, they never had a chance to get our tokens. Therefore, as we are getting closer to the TGE, we want to give out some benefits & perks to these guys, and that’s why we haven’t made it too big: 100,000 $ITGR in total, and personal hard cap being $300. 

Marketing

When can we expect $ITGR to be listed on Coinmarketcap and Coingecko? And what marketing efforts are being deployed to publicize $ITGR ahead of and after listing on Uniswap? 

We have started working on this and we have filed our application for Coinmarketcap over their self-reporting system. Regardin Coingecko, they require us to provide price information, which we will have only after the token is up on Uniswap. 

You are frequently referring to large institutional traders from Coinbase in your articles. How will you attract these institutional traders (which seem to be part of your key target audience) considering institutional traders require strong legal foundations, custody, security, US regulatory frameworks, etc?

I think the question is, when we say the word “institutional”, who are we talking about? The definition determines the scope here, because Goldman Sachs is institutional, so are other crypto based funds. Oh, and not to mention the ETH whales. These are not companies, but they do use Coinbase a lot for large trades.

Currently, we have got a good product for whales and crypto-native funds. Our 1st product, the comparator, has given us the best price for large orders, not just in DeFi, but also compared with Binance. In the next few months, we will be keep building and shipping products to suit their needs, and we hope to release the 2nd product by the end of this year.

But can we serve Goldman now? I don’t think so, I don’t think any DeFi project out there can. It needs another product (and we’ve been thinking about this already), and a big push on the BD and regulatory side. This will be our main focus after launching the 2nd product, and we are preparing for this. 

Would it be possible to expand Integral to other networks? Today Ethereum is the slowest and most expensive network to use. And I believe that the future Internet is clearly going to be multi-chain. Limiting ourselves to Ethereum even though it is the mostly used right now, I think it’s not the best path to take today.

Yes. Currently, we are proving out our product utility on Ethereum. A lot of big traders still mainly stick around on Ethereum. But expanding to L2 will become a priority for us after this current focus. 

To be the last exchange, to eat other exchanges’ liquidity, one must construct the infrastructure to house the liquidity. When will additional tokens/pairs be added? Is it even worthwhile to pursue this avenue? It is possible most large orders concern the pairs already present. What are the developers’ thoughts on this?

Yes. Since our biggest value proposition is to execute large orders on chain, we have a higher criteria for token pairs than an average DEX. When we start to look into a token we have to see sustainable block trade orders – we look for a ‘in-the-wild’ sign, a need of deeper liquidity. Currently, we are carefully monitoring the performance of a few DeFi blue-chip tokens, and hope to bring them to Integral and the new product. And you are correct, the large orders we are seeing do concern the pairs that we already have listed. 

How big is the team and how many will you recruit for the Integral mission? 

Our team currently has 15 people, and we have a very high standard for recruiting. 

Is your focus on institutions, power users or retail? 

Focus-wise: power users for now. Institutions for long-term. 

How will you differentiate from Sushi, Uniswap etc? And on that, will you introduce new products? 

Sushi/Uniswap: solve the problem for trading altcoin on chains, also at a retail-level.

Integral: solves the problem for trading large orders on chains, power users/institutional-level.

And yes, we are currently are working on other products such as the 1-day to 1-week execution window along with some other ideas we have. 

Will you integrate with MM, Matcha and other aggregators?

Aggregator integration will boost our volume instantly, and we are in talks with the leading aggregators (the ones on our Comparator). However, because we are non-atomic, it takes extra engineering from their side + UX changes from their side to plug into their system. It is not hard, but everyone is extremely busy pursing higher priorities, and integration with us is not a high priority for them. But we are talking to them every month to update them on our progress.

What are, if any, your biggest competitors? 

We have not discovered any yet! As we are focusing on the niche market of TWAP. If you find another project that shares the same vision of Integral, please let us know!

$ITGR and Token Metrics

Could you please give a brief overview of the $ITGR token allocation and distribution plan?

Sure, the below chart roughly depicts the allocation of the $ITGR token and assigned vesting schedules:

https://cdn.discordapp.com/attachments/880083463242383372/885166883618320424/Screenshot_Allocation.png

Note: One month after TGE, the circulating supply will be approx 5.98%

For a more detailed explanation of our token metrics please visit here.

The public seed round sale raised over $30M, how many unique token holders does this equate to? And is there holders with large portfolios?

We had roughly 2000 people joining in on our public seed round, and the largest investment from an individual is around $3mil. 

You mentioned that for every dollar the protocol earns – 1 dollar will also go into the treasury. Can you please explain in detail how the protocol earns that dollar? Is it through trading fees and if it is how are those fees calculated? % of each trade?

Yes trading fee. Integral currently charges a 1bps (basis point) trading fee for stablecoin pools (USDC-USDT, DAI-USDC, DAI-USDT), and 5bps for all of the other pools. 

Tags

Integral Insights

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.

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.