Daily Chain News: Lattice AMA Recap with Updates
Involvement in the crypto space requires a few key character traits. Among these are the ability to rapidly keep track of a project’s progress. Followers of Lattice have been kept on their toes, as the company has hosted a series of AMA’s over the past couple of weeks. Questions have been primarily on the status of Lattice, it’s progress, and upcoming functionality. We have created a summary below for those who do not have the time to read them all.
To quickly review, Lattice is the first decentralized application to be built on the Constellation Labs framework. Constellation’s Hypergraph technology is a clear choice for Lattice as there is an overlap in leadership between the two teams. The same team members responsible for DAG provide direction for Lattice, which is rapidly moving to replace Ethereum for multiple uses. As Ethereum struggles to handle the current throughput of DeFi and other decentralized applications, other more capable networks are beginning to emerge to fill that market need.
Development
Several concepts were fleshed out during the Lattice AMA. Of particular importance is the development process for Lattice. The Phase 1 Lattice MVP is primarily focusing on creating a user-friendly interface like Uniswap, but with multiple liquidity pools. The MVP will be based on Ethereum and allow similar swapping of popular and new ERC-20 tokens. In using a similar interface to Uniswap, which people are already familiar with, participation in the project will be encouraged. Ethereum is also home to most of the liquidity in DeFi, making it an easy choice to begin development.
By the end of 2020, Phase 2 of Lattice will drop. Cross-chain and cross-liquidity will be turned on. Phase 3 will see a migration over to the Hypergraph protocol. All smart contracts on Lattice will be audited for investor confidence and concerns.
Liquidity
For the rollout of Lattice, liquidity providers on the platform will be rewarded with LTX tokens. The platform will connect multiple liquidity pools and more complex AMM’s than the current generation. Pulling from numerous liquidity pools will allow smoother price movement and hopefully prevent large drops that result from spikes or dips from liquidity providers.
Tokens
With a cap of 100 million tokens, there should be enough supply to satisfy the market and act as an inflationary measure. In later versions of Lattice, DAG tokens will be stakeable to earn LTX, either by providing liquidity. Governance, alternative staking models, and scalable business models are currently being explored.
Hypergraph
As Microsoft Windows is the operating system for applications worldwide, Constellations Hypergraph is the new operating system for dApps. It will be a programmable foundation for a litany of other decentralized platforms. Other applications will launch on Hypergraph, as it has nearly unlimited bandwidth and minimal fees. In comparison, Lattice will have fixed fees, much lower than the current AMM’s operating on Ethereum.
Aside from consumer dApps, enterprise and corporate needs could also be met with the capabilities of Hypergraph. The success of Constellation labs has attracted the attention of the US Government, which is currently exploring Hypergraph to increase security around petabytes of sensitive data.
Wrap Up
There were several revelations communicated on the Lattice AMA. A timeline for MVP launch (Nov 2020), the interaction between the LTX and DAG tokens, and an upcoming Metamask-type wallet for Constellation were all explored. For a product without an MVP, the anticipation for Lattice is not unfounded. The team has already spent over two years working on DAG and Hypergraph. Building for DeFi will be a pivotal moment in the company’s history, one that may shape the landscape for years to come.
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Original Article found on The Daily Chain here.
Carlos has been actively involved in cryptocurrencies since 2014 and since then has authored multiple articles and reviews, edited podcasts, and acted as an advisor for several projects related to blockchain technologies.
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