CRYPTO GLOSSARY
CRYPTO GLOSSARY
Dec 5,2023

AMA with Sasha 1/12/23

Another week, another AMA session with the Waves’ founder Sasha Ivanov. This week, Sasha has prepared some updates on the ecosystem progress, answered lots of questions and had a live dialogue with the community members. This is a short recap, the full recording of the weekly AMA from 8/12/23 can be found here.

//Recap Start//

Key Points:

  • As we speak, the integration of the L2 blockchain ecosystem (UNIT) is well underway! Just a few days ago, owners of 20 nodes had an opportunity to get L2MP on lease. Holders don't have to choose a node now, they will have the option to make a lease afterwards, but for now this feature is required for the launch. The list of nodes will expand over time.
  • Once again I remind you that you have only 2 months left if you still want to exchange your L2MP deposits stuck on Vires. This feature is not going anywhere, but after the start of mining you will no longer be able to enter the L2MP high yield staking to increase your share in the mining pool.
  • The release of the L2 network itself is scheduled for the early months of 2024. Before that, we are also expecting an interim release of an update for our L1 blockchain - Waves 1.5. Next week, the L2MP drop and a massive marketing campaign around the L2 blockchain will begin.
  • Also, we have extended the WAVES Staker Contest until December 24, so hurry up and transfer your WAVES tokens from centralized exchanges if you haven't already done so in order to maximize your share. The PWR for this contest will be distributed at the end of December.
  • The launch of the Numeris DAO happened this week. Basically, this DAO will help to relaunch Vires.Finance and change its tokenomics, making it much more stable by bringing fixed interest rates. Just a couple hours ago we also launched ETH-WXG and BTC-WXG vesting for v1 Vires markets. So you can already convert your deposits in these tokens, at the market price into XTN and start getting your funds back.
  • The current Waves DAO KPI period results will begin to be summarized as early as next week, so get your LP tokens ready.
  • Asymmetric fees have been introduced in trading pools with the PETE token. At the moment the buying fee for PETE is minimal, but the sale is subject to a 10% fee.
  • Be sure to check out the new GamGamSpace project!

Q & A

Q:Are there any VC announcements planned in the near future?
Sasha: I think we are in for some kind of announcement soon after the launch of UNIT1 (First L2 blockchain). 

Q: I heard there was something planned around WCT?

Sasha: No, there's an idea to implement a liquid PWR staking project around WCT, essentially allowing WCT holders to participate in voting without having PWR staked on their accounts.

Q: What is the rate for converting -WXG tokens/deposits for Vires v1?
Sasha: The current market price of BTC and ETH tokens from oracle is taken into account. Not the price of their -WXG variations.

Q: Are there already projects that intend to launch immediately after the launch of UNIT1?

Sasha: Yes, there are already L1 Waves blockchain projects that intend to transfer their functionality to L2, and will also actively attract projects from third-party networks. For this we just need to create the right conditions and tokenomics, negotiations with the projects are already underway.

Q: Could you explain the current plan of the Neutrino team in a little more detail?

Sasha: Yes, basically they are planning to launch Neutrino Index on the Ethereum network. Simply because there is a lot more liquidity and different tokens available at the moment, which will help attract attention to the project. However, the project will also be linked to our blockchain and the main NSBT token will still be preserved. I think more specifics on Neutrino Index will be published this month.

Q: Am I correct that WAVES will replace L2MP as a mining token?

Sasha: That's right, gradually this function will be taken over by the WAVES token.

Q: When will the XTN buyback and allocation of funds for Waves DAO be finalized?

Sasha: Good question! But it's up to the community to decide. I think at this point it's the most sensible way to fund development, and until the ecosystem projects resolve all the problems they're facing, it doesn't make much sense to stop.

//Recap End//

 

Tune in every Friday, 10:00 a.m. EST to learn the latest news and updates on the Waves ecosystem first-hand, directly from the Waves mastermind, Sasha!