Celer Community AMA Summary - 06/25/2021

Will Celer try to be interoperable with as many chains as possible or are you focussing just on specific ones?

Since Celer’s cBridge is a multi-chain network enabling instant, low-cost, ANY-to-ANY value transfers within and across Ethereum’s layer-2 chains, Ethereum main chain, and soon support other layer-1s and layer-2s operating on top of those other layer-1 chains. So we will support multiple chain bridges including Binance Smart Contract chains.

Is a new audit required as new strategies are going to be added?

We are working with Slow Mist and Certik on a long-term and ongoing partnership so that we will be able to ask for audits of strategies in batches. Every month, we will add a batch of fully audited strategies, which are proposed and approved by the community, to the product for users to use.

What is the reasoning behind slashing delegated tokens due to the actions of a validator within SGN?

This is a common question debated in many different network communities where staking, slashing, delegating is involved. We want to ensure the security of the network and this is the only path to do just that. In this case, the delegators choose to trust the validator.

Speaking of which, cBridge is launching very soon! It will support multiple layer-2s and bridge liquidity seamlessly between them and L1. We are trying to work with our partner Arbitrum so once they launch an open mainnet, cBridge will also launch on Arbitrum layer2 to bridge liquidity in and out!

Is there a way for a user to find out what will they pay in gas fees for using Layer2.finance before transferring into Layer 2?

We are considering a number of fronts in making improvements, and displaying the cost comparison on the UI clearly so users will know the benefits is certainly something we are exploring.

Is there a way to bypass the 6 hour waiting period to deposit/withdraw funds?

Right now in this version (v0.1), no. However, in the future, we plan to integrate cBridge with layer2.finance and you can do instant withdrawals with a bit higher fees! For deposits, it’s not 6 hours but much faster!

Who is building on Celer Network at the moment?

In addition to the protocols that are listed on Layer2.Finance and several others we have publicly mentioned in the past, we are working with quite a few more DeFi protocols and other applications such as in gaming and payments verticals. Please refer to our partnerships page for more information:

90% of all altcoins won’t survive in the long term. What would you say for Celer?

Although past performance does not suggest what’s gonna happen in the future, I want to point out that Celer has endured several cycles! We started at the beginning of the last bear cycle (mid-2018) and experienced the full bear cycle with absolutely no intention to quit. We saw many teams and projects fall apart during that same period, but our team has grown stronger every day.

More importantly, our community is also growing stronger every day thanks to all of you! Crypto will have cycles in the future, but we have no other intentions than to continue pushing blockchain adoption boundaries because we believe in it.

Can BTC benefit from anything that is being worked on by Celer?

Yes! BTC as an asset has long jumped out of the single bitcoin chain with many bridges to bridge BTC to Ethereum and other chains. So things like layer2.finance and also cBridge can benefit bitcoin in terms of adoption too!

Why is the Android/iOS app branded as Trazo?

This mobile app was not released by us, but by a community developer! So it’s their brand, not ours! But we definitely support their efforts to push layer2.finance to mainstream adoption!

After cBridge, will marketing become more of a priority?

After cBridge there will be the major upgrade of layer2.finance with the possibility to add many more strategies and also liquidity mining! So definitely stay tuned for that! I think our community is looking forward to that as much as we are!

What are your plans for the marketing team?

The marketing team is growing and you can see us being noted in many mainstream media such as Forbes, Entrepreneur, Investing.com, and more! This is mostly happening on Twitter and I will relay your feedback to the marketing team. We are continuing to scale our marketing efforts so stay tuned for that.

Do you plan to be more active in dev-community support and provide some suitable space for that, such as Discord?

We should be relying on discord more and I will communicate internally with the engineering team/community to keep a closer eye there!

Are there any plans to change or modify the interface of layer2.finance?

We want to ensure that our protocol and platform are safe and secure first and foremost as we are working on an overhaul of the entire Celer branding visuals, including layer2.finance’s user interface. In the next version, it will iterate on the current version but later it will have some very significant changes!

What about the State Guardian Network (SGN) User Interface (UI) overhaul?

We are prioritizing the release of cBridge and layer2.finance and will get to that ASAP!

Would it be possible to have CELR on SGN be rewarded and automatically re-staked?

We will definitely take this into account in future iterations.

Would it be possible to skate CELR on Binance Smart Chain (BSC) in the future?

If we are talking about SGN, it would be possible once we start to fully expand the ecosystems such as State Channel Networks to more chains like BSC. However, it’s still a bit further in the future. Having said that, if it is to partner with certain DeFi protocols, it would be possible

Any more collaborations with other layers 2 like Polygon?

We are closely working with many layer2 projects such as Arbitrum and Optimism. It is possible to integrate bridging functionality with sidechains like polygon as well!

Here’s more information on how Celer and Matic are working together:

What should we be looking forward to in July?

So cBridge mainnet will be live by then and layer2.finance v1 testnet concluded if no issues are found, will also likely be ready to be rolled out! The entire team at Celer Network is excited and very much focused on getting these two projects out to the public soon.

Do you plan to put up some Gitcoin grants or sponsor a hackathon there at some point in time?

We have been sponsoring various hackathons and will continue to do so!

What is your inspiration for running Celer Network and what is your future vision for Celer Network?

As always, pushing blockchain to mass adoption and bring an open and free financial market to all!

Are you planning to start a room or AMA talks on Clubhouse?

Could be interesting, but the information density on voice chat is always a bit of a problem, but might be interesting to give this a try!

Will cBridge be able to connect to Cosmos?

Yes. Celer’s cBridge is a multi-chain network enabling instant, low-cost, ANY-to-ANY value transfers within and across Ethereum’s layer-2 chains, Ethereum main chain, and soon support other layer-1s and layer-2s operating on top of those other layer-1 chains.