상세 정보 Integral
What is Integral?
Integral is a decentralized finance (DeFi) protocol and exchange that mirror liquidity on other top exchanges. In its final form, Integral aims to provide the cheapest liquidity among all centralized and decentralized exchanges.
These features are made possible with the technology of Concentrated Liquidity and Trade Delay. Concentrated Liquidity enables Integral to achieve the best execution costs in DeFi per dollar of TVL. With just a fraction of the TVL of its competitors' corresponding pools, Integral can achieve an equivalent level of liquidity and price impact. Trade Delay prevents front-running/cross-exchange arbitrageurs, giving LPs of Integral Mean-0 IL.
Integral’s smart contract operates as an ERC20 token on the Ethereum network.
Who Are the Founders of Integral?
Integral is a team of mathematicians, engineers, growth hackers working with the Ethereum and DeFi OG community. Its current advisors include Robert Leshner (Founder of Compound), Tarun Chitra (Founder of Gauntlet), Framework Ventures and Polychain Capital.
The team sticks true to DeFi principles. Before the Public Seed Round, it was completely self-funded and had now pre-sale. The only outside funding is from Gitcoin donations (#1 in GR9 dApp).
The team announced in May 2021 that it had successfully closed its $32mm Public Seed Round.
What Makes Integral Unique?
Integral is the pioneer of Concentrated Liquidity in DeFi. Its innovative OB-AMM enables Integral to unbundle the concept of liquidity to depth (orderbook depth, AMM shape) and capital (the actual amount of LP asset in the orderbook or AMM). By mirroring orderbook from exchanges like Binance and Uniswap, Integral can achieve the same depth with much less capital.
Integral coined the term ”Implied Liquidity” to illustrate the magic of this technology and provide a benchmark for traders to understand this aspect. For example, although Integral’s TVL is $180mm on June 8th 2021, it offers an equivalent level of liquidity and slippage that a $9B CFAMM (Constant Function Automatic Market Maker) pool offers, making its Implied Liquidity $9B.
For LPs, Integral uses Trade Delay and price oracle to minimize the impact of impermanent loss.
LPs incur sure losses when sure-profit traders (arbitrageurs, front-running, etc.) are able to trade on DEX. But with Integral’s trade delay mechanism, they can’t be certain that they will make sure profits anymore, so they will trade somewhere else. This gives LPs Mean-0 IL--an IL profiles that oscillate around 0. At times this IL will even become negative, meaning it becomes more profitable to supply an asset to a pool in contrast to just holding it in the wallet.