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What is Integral?

Integral is a new DeFi primitive that efficiently executes large orders. It is the only such primitive with a functional product to date and is poised to capture the exact segment of large client trading volume for DeFi.

Who are the founders of Integral?

Integral was started by a pseudonymous and self-funded core team. The team consists of early crypto investors, startup founders, mathematicians, hedge fund managers and data scientists. Its current advisors include Rob Leshner (@Compound), Tarun Chitra (@Gauntlet), Framework Ventures and Polychain Capital.

What makes Integral unique?

Integral is the pioneer of executing large orders in DeFi. It works smart by executing an order accordingly to an oracle’s average price over a period of time (currently, it’s Uniswap’s 5-min TWAP). This technology mimics how the centralized exchanges process large orders: split and execute them over a period of time.

To offer a competitive price with nearly 0% price impact, Integral mirrors order-book and AMM from some of the best centralized and decentralized exchanges and create a highly liquidity-rich environment for these large orders to execute.

This is made possible with the OB-AMM. The innovative AMM design unbundles the concept of liquidity to depth (order book depth, AMM shape) and capital (the actual amount of LP asset in the order book or AMM). By mirroring order books from exchanges like Binance and Uniswap, Integral can achieve the same depth with much less capital.

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.) can trade on Integral. But with Integral’s trade delay mechanism, they can’t be certain that they will make sure profits anymore so that they will trade somewhere else. This gives LPs Mean-0 IL—an IL profile that oscillates around 0.