Sep 5,2023

AMA with Sasha 1/9/23

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 1/9/23 can be found here.

//Recap Start//

Key Points:

  • PETE has passed one of its goals! Just recently Smart Contract Staking was launched, the next step is to reward the first person to buy a token at 0.1 EGG, they will receive an NFT, thanks to which they will be able to get 10% of the fees from PETE trades. The staking UI will also be available this weekend.
  • The launch of AXLY turned out to be quite disappointing. I think now the community is not in the right state to actively launch new projects, but it was a good experience. So we will refrain from such kind of launches.
  • The end of the first epoch of Waves DAO and the beginning of a new one! On Monday, Waves DAO will be re-launched, which means that everyone who wants to participate in it (Make an investment or commit POWER) will only be able to do so until the end of this week.
  • Marketing DAO is slowly moving forward, and I have been informed that many people do not realize how exactly the reward is distributed among the participants due to the lack of KPI's! To explain, once the DAO is launched, all DAO investors will automatically share 80% of the POWER that has been provided to the DAO by the POWER protocol.
  • Today, or even right now, we will be launching a feature to sell XTN to the Neutrino contract exclusively for WAVES tokens, but with an increased commission that will go to NSBT Stakers. This should increase the XTN burn rate. I will also take advantage of this and start burning 5K XTN every day.


Q & A

Q: Will it become possible to fund DAOs on the Power DAO protocol, with alternative tokens such as stablecoins?
Sasha: I think yes, it would be wise to add such a feature to upcoming DAOs.

Q: Could you clarify what the transition of the Neutrino Protocol governance to the Power DAO governance would look like?

Sasha: I don't think it's necessary to go through this task in detail now, but I have recently published an article on this topic, which outlines all the challenges and benefits of such a transition. However, I can tell you that NSBT holders will get POWER to participate in governance.

Q: Today marks the end of the -WXG token buyback, the audit of which has already been completed. However, the buyback orders have not been used up completely, and not all these tokens in the network have been bought back. What will happen to the funds and the delisted tokens themselves?
Sasha: At this point, we intend to wait for users with -WXG tokens to show up, and allow them to sell. These funds will await the remaining tokens, to put it simply.

Q: What about the future of SURF?

Sasha: I promised to share with you my vision for the future development of SURF and Neutrino in general, and unfortunately for now that vision is still being worked out, so I will need some more time.

Q: How about that POWER drop for SURF holders?

Sasha: I think that during the marketing campaign it is not quite reasonable to negatively pressure the token price. So it would be better to do it afterwards. 

Q: Will -PPT stablecoins become primary in the ecosystem?

Sasha: Yes, however they need to implement stablecoin swaps of gateways of different networks (USDT-PPT-ERC20 to USDT-PPT-BSC, and back again...), because this is highly unintuitive for regular users.

Q: Will there be a notification feature in Power DAO? So that participants don't miss new proposals.

Sasha: Yes, there's actually a lot of things on the site that are missing for now, and maybe we'll need help with the implementation of UI features. 

Q: Is there any news on the L2 blockchain?

Sasha: In September we are planning to release Waves 1.5, in fact it will be a transitional stage of L1 blockchain and its upgrade! L2 blockchain will start to develop more rapidly after that, and I think we can expect its functionality by the end of the year!

Q: What about Vires V2 markets? When will they start working properly?

Sasha: I think it's time to put Vires in the hands of the community! Essentially: 

1) Smart Contracts will be locked, or will only be changed by governance.

2) gVIRES whale accounts will be banned in governance to avoid centralization.

Q: Will CEXs be banned in the Power DAO's governance?

Sasha: Yeah, I think we'll have to ban them.

//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!