Thank you to the Bang Pateng Community for participating in Ask Me Anything (AMA) with Lattice Exchange on October 14th, 2020. This guest star Mr. Ben Jorgensen & Mr. Mathias Goldmann. If you were unable to join the live AMA, no worries, here comes our 10th AMA recap!
We are glad to meet here:
Ben Jorgensen – CEO & CO-Founder
Mathias Goldmann – COO & CO-Founder
Alyze Sam – Marketing
Before we start our first segment kindly introduce yourself to the community?
Ben Jorgensen : Great to meet you all! In am an entrepreneur (been so for nearly 15 years). Thank you for having us! I have predominatly been in early technology and culinary experience.
Back in 2016 I was CRO (chief revenue officer) for a group called Exo Works – we provided Fortune 500 companies with a playbook for adopting new technologies (AR, VR, Blockchain, etc.) I learned a lot about blockchain technology from an advisory standpoint. Living in San Francisco, I had first hand access to people building great technologies. This is where I met the co-founders of Constellation. I was serving as an advisor to a bunch of (normal) tech companies and this introduced me to a whole new world of doers! That is when I REALLY learned about blockchain (sans crypto). Consulting on tech is one thing, it is another to build something great and see people use it. Over the last 5 years I have made radical investments across several industries and with different stage companies. This has allowed me to explore real opportunities that are the future and work with a-list and creative minds.
Mathias Goldmann : first of all, its a pleasure to be here and thanks for the invite
I’m always looking for things at the frontier and what’s next. In that spirit I was looking for ways to transmit money globally without the delays and hurdles of legacy finance. I found BTC in an early forum in 2011 and got really excited. Watched the entire unfoldment since and got really excited when smart contracts were first presented – synchronistically that was when I was looking into global identity solutions – and now as Co-founder of Constellation and Lattice we are ushering in the third generation of Blockchain technologies centered around a new consensus algorithm and a mindblowingly different infrastructure logic – with tons of new applications and use cases.
Alyze Sam : Hi all, I’m Sam.
I’ve been in crypto for 6 years. I’ve authored the only published books on stablecoins and was brought to Lattice by the Alphabit Fund to market for Lattice. I came as a Constellation fan and happy to be here.
The gentlemen will speak and I’ll be here for support.
Question Segment 1
Q1. Could you please describe what is Lattice Exchange?
Ben Jorgensen : sooooo…. what is Lattice. 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. We went through a thought experiment where we saw the entire DeFi space as a bunch of band aids on top of a broken base layer 1 protocol (Ethereum). We saw an opportunity to showcase Constellation’s scalability (economically and technologically), through Lattice, and merge the best in class in DeFi but on a scalable protocol.
We, and so have many institutional crypto funds, see huge upside in DeFi by aggregating solutions out there and presenting them on a scalable infrastructure.
Mathias Goldmann : Lattice focuses on the DeFi space by aggregating liquidity pools, providing low fees, and multiple automated market making algorithms leveraging Constellation’s scalable network, Hypergraph. Lattice will connect the DAG ecosystem with the ERC-20 ecosystem, paving the way for new financial products built on the Constellation Hypergraph. Lattice combines the best in class of the DeFi space on a scalable protocol with lower and consistent fees that will allow active users to create predictave revenue/income models.
Overall its an ecosystem play that positions a new solution for defi on a scalable infrastrcuture.
Q2. What are the core features of Lattice Exchange? How are you different and unique from all other projects out there?
Mathias Goldmann :
– aggregating liqudity
– smart trade routing
– less tx fees and faster tx speed
– cross-chain pools and interoperability
– Plugable AMM algos
Ben Jorgensen : Our MVP (to be released by the end of October!) will be a competitor to 1inch exchange and Uniswap. Our real market differentiator will lie in Q1 2021 where we port trade settlements, introduce deposit and withdrawls, and advanced AMM’s all on Constellation’s Network. Behind the scenes we are looking to really advance the LTX governance token as well as introduce DAG staking which will unlock some cool features around instant trades.
Q3. Can you explain, what is hypergraph?
Ben Jorgensen : 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.
Hypergraph is built using an architecture called DAG (directed acylic graph) and provides a base layer 1 protocol built to process complex data structures (vs. ethereum and simple numeric data structures). The Hypergraph is the largest distributed decentralized mainnet (nearly 45 nodes today and adding about 50 more in the next couple of months).
The Hypergraph is an ecosystem play (like an operating system) that will allow developers to use the HGTP (hypergraph transport protocol) to build robust applications and businesses that are interoperable with centralized data storage solutions, data management solutions, and other blockchains.
The Hypergraph is governed is by concurrent consensus mechanisms to a) validate blocks on the graph b) validate the global state of the network. This ensures speed and scalability.
Lattice’s core functionality will be built on the Hypergraph leveraging the HGTP – for example, trade settlements, staking, deposit and withdrawls, and complex AMM’s will be supported here.
Q4. I see that Lattice has it own token, could you please explain about the token? What benefits can we get when we hold the token? And can it be traded?
Mathias Goldmann : The LTX token will be quite interesting from a farming perspective, especially when cross-chain pools are implemented. It allows DAG holders to use their DAG in cross-chain pools and earn LTX as rewards – thus giving utility and governance to both tokens. We are also thinking about having the token for fee rebates on the platform.
In a general sense 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 is a governance token. It will let participants orchestrate the Lattice ecosystem and provide insight into how it operates (this will come in a myriad of ways). People that stake DAG will be able to earn these tokens. We are working on a rather evolved tokenomics that weaves LTX and DAG rather nicely (and something that hasn’t been done and will ensure a balanced ecosystem).
Q5. Now a days Farming is very popular. Do you have any plans of providing Farming Facility to $LTX
Ben Jorgensen : 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.
We will be allowing individuals to stake DAG and earn LTX Tokens. DAG wallet addresses are already compatible and similar to Ethereum’s. This will allow people to be instantly cross chain compatible between DAG and Ethereum. DAG will give access to Ethereum. This was the entire vision in 2017 – to make blockchain chains interoperable (but no one really knew why or how to do it). DeFI is a great use case to show the value of cross chain liquidity.
The LTX token will be quite interesting from a farming perspective, especially when cross-chain pools are implemented. It allows DAG holders to use their DAG in cross-chain pools and earn LTX as rewards – thus giving utility and governance to both tokens.
Q6. Security is one of the main aspect that is very important, how secure Lattice is?
Ben Jorgensen : Security comes baked in the Hypergraph and in Lattice through multiple angles. Security is one of the aspects why the federal government is working with the Constellation team to append security to data pipelines and comm channels.
Additionally, we have put together this diagram to show how we have multiple layers of security. Beyond double spend, we have multiple (concurrent) consensus mechansims as consensus is one of the key features of a decentralized network and no network can optimally be run by one consensus. By using multiple conesus mechanisms, we assure speed and security.
this is a diagram of how security functions in the integration pipeline
Q7. Can you explain, what are your upcoming plans in a couple of month/years?
Mathias Goldmann : We have successfully completed our private main sale for Lattice (we were oversubscribed in a matter of days from our first post in Telegram and before we even officially kicked it off). We have some of the best in class when it comes to backers of Lattice including notable names in Asia and Europe. Our goal was to expand the story of Constellation through Lattice and widen our community reach. Over the next week, we will be making some announcements that highlight some household names in crypto – this will push us to the top of every conversation.
Generally we will be focusing on the multiple buildout stages for the product and we have some very innovative ideas around cross-chain wallets, insta swaps and data derivatives.
Ben Jorgensen : Absolutely! Great question. I think we are just seeing major institutional funds in the digital asset ecosystem make their entrance into the DeFi space. They sat on the sidelines for a bit and are starting to see some real viability in decentralized finance that evolves existing centralized financial services. Our focus over the next severl months will be to capture market interest from small and large retail investors and build products and solutions that cater to both demographics. We also want to create an improved standard in DeFi so that we are the default – one-stop-shop for DeFI. Over the next couple of years, we want to bridge the traditional financial services industry with the digital asset ecosystem. This is going to be tough – but it starts with oracalizing historic trade data and other insights (like databases that are used in traditional hedge funds for securities) and offer up more robust trading solutions that everyone can access.
Constellation’s HGTP will be that oracle and Lattice will productize oracalized data for future trade algos. We already have some partnerships underway that will be able to leverage this.
Very exciting future – it helps that we have visibility into both technical roadmaps (Lattice and Constellation) – this is a competitive edge that no one has.
Q8. what do you think about the current DeFi project?
Ben Jorgensen ; I think there are some good products out there – not quite brands – but good products with features and functionalities that we were able to observe and see what got traction. I really like the DeFi space and the sentiment it has created – it is fun to weave Constellation with Lattice… Lattice is a perfect build on top of Constellation and it combines the best of the DeFi but on a scalable protocol.
Mathias Goldmann : I think the defi industry is just starting. It has started really fast and strong and there are always expansions and contractions in the market. At the same time the trajectory seems very promising and I think there will be a lot more traction coming
Question from Twitter
Q1. You’re currently running two projects simultaneously, Constellation and Lattice Exchange. Could it cause some difficulties for you considering that resources are limited? How will these projects supplement each other?
Mathias Goldmann : When you have incredible founders and a great team – you can move mountains. Lattice is a great way to show people the potential of our ecosystem and the features and functionalities of Constellation’s Hypergraph. Lattice is the financial arm of Constellation. Think of it in an operating system sense like Microsoft. Microsoft had to build Word and Excel for people to understand how to use their operating system. Then people built entire businesses on Microsoft! Our goal is to evolve Constellation. All of our efforts help the entire ecosystem grow.
Ben Jorgensen : Having visibilty into two technical roadmaps that converge and build off of each other is a competitive edge. Lattice is helping evolve and disseminate the message of Constellation. Soon, more developers and businesses will be able to build robust businesses on top of Constellation with the support of our community and ecosystem.
Q2. There we see many projects that claims they are fully Decentralized. But they done their work in a Centralized way. How can we sure that LTX is fully Decentralized? Can you please tell us what’s $LTX working method?
Mathias Goldmann : We have a lot of experience from our work with the Constellation governance and setting up a fully decentralized governance there.
Lattice stakeholders will be organized in a similar fashion and the LP token will grant voting and governance rights.
Ben Jorgensen : Constellation is already truly decentralized – and that is a mainnetwork protocol! Great starting point and proof.
Q3. As lattice is using Dag Network, so what type of benefits Dag Holder can expect from Lattice project?
Mathias Goldmann : we have multiple buildout stages. the first will be on erc20 than moving over to the hypergraph in stage 3 in early 2021. LTX ties neatly into the DAG ecosystem since DAG holders can use their DAG in cross-chain pools and thus be part of the expanded ecosystem through the LTX rewards.
Ben Jorgensen : One thing that we haven’t announced is that we will be doing an LTX Airdrop to DAG holders with a molly wallet in early November.
MORE INFO ABOUT LATTICE EXCHANGE
Website : https://Lattice.Exchange
Telegram : https://t.me/Lattice_exchange
LinkedIn : https://www.linkedin.com/company/lattice-exchange/
Twitter : https://twitter.com/LatticeExchange
Facebook : https://www.facebook.com/LatticeExchange/
Here is a bit on our vision as it intersects Constellation (DAG) and Lattice (LTX): https://medium.com/@benjorgensen/lattice-exchange-a-best-in-class-defi-project-built-on-constellations-hypergraph-fce5ca7706d9