Waves Labs
Feb 16,2023
7 minute read

AMA with Sasha 10/2/23

Another week, another AMA session with the Waves’ founder Sasha Ivanov. This week, Sasha has prepared some updates on the core ecosystem projects and, as usual, answered lots of questions coming from the community. Here is the full video of the following transcript of the weekly AMA from 10/2/23.


//Transcript Start//

Sasha’s Comments on Vires

A lot of funds are locked in Vires, we're moving forward, we do what we can. I want to make a proposal on Vires: the idea is to increase vesting limits a little to include more accounts. Also, all restrictions on the import of vested LP tokens will be lifted, so you'll be able to import your tokens back. The idea is to enable market for LP tokens, vested tokens. The goal is to create the market, somehow incentivize it, and people who are ready to wait will be buying tokens from them, it's not going to be us, don't ask us for that. And as a side effect, that would increase the vesting limits and lift the import limits. I think this proposal will come either over the weekend or on Monday.

Related Questions

Q: Can you elaborate on the Vires relaunch? 

Sasha: We're waiting for the new bridges. After that, Vires should become functional again. There's some clean up to be made there.

Q: ​Are you saying Vires depositors who have stuck usdt and usdc will get whole if they wait? 

Sasha: If you didn't choose the vesting option, it can take more time. If things go well, we'll come up with some funds to release those unvested accounts as well. If you choose vesting, you can receive XTN now, we're working on increasing the value of XTN. The proposal that we're about to make soon on Vires should allow you not to wait till the vesting period is over to get your XTN but to just sell your LP tokens.

Q: Will there be an unban for VIP-029 now?

Sasha: I will come up with the proposal. There's going to be less restrictions, more accounts will be involved in vesting, and it will create some kind of incentive for people to buy vested tokens. It would be a profitable opportunity for them.

Sasha’s Comments on WX Network Gateways 

There're still problems with gateways on WX, we process stuck payouts, it doesn't go too fast. We're integrating decentralized bridges, it has already started. Next week, we'll have a lot of progress with this, we'll start the final implementation of the new bridges which will be properly decentralized, transparent, and will help us resolve the current problem on WX. It's a matter of days.

Related Questions

Q: Pepeteam says that new bridges will not help with withdrawals.

Sasha: It's a separate system. We'll be able to relaunch all those processes that are stuck on Waves Exchange right now, and that will definitely facilitate the withdrawals.

Q: How can bridges speed up the withdrawal of funds if there's not enough liquidity? 

Sasha: There's going to be more liquidity with the new bridges.

Q: Please, explain how you will keep the demand for WX, USDC, USDT tokens after the new bridges get released.

Sasha: Current USDC, USDT tokens can be added to the WX pools still, and you can receive some yield farming rewards if you hold them.

Sasha’s Comments on XTN

Our infamous stablecoin is not a stablecoin anymore, it's an index token of the ecosystem, litepaper was published, now we have to enable multicollateral treasury, add some tokens, which will be donated, to the treasury. Coding will be done next week as well, and we'll start adding tokens to the treasury. Initially, we'll be the ones who add tokens to the treasury.

Related Questions

Q: Do you plan to list XTN? 

Sasha: We actually do plan to do that. I won't give you names, but we're in discussion.

Q: Will XTN go to CEX later? 

Sasha: Yes, it will, and it's still on some CEXs now.

Sasha’s Comments on Power Protocol

We completed the first stage of the $PWR token airdrop, to the WCT holders. The next stage is to distribute 9000 tokens more $PWR to $WAVES holders. We need a couple more weeks to do some marketing for Power Protocol platform before the next airdrop happens. As long as we have some $PWR tokens in circulation, it's sufficient to launch the functionality. Power dApp will be launched also on Monday. As soon as the Power platform is launched, we'll start launching Waves DAO. It's going to be a DAO which works with the Waves ecosystem, incentivizes and invests in projects on Waves, this is very important. This is what we want to do with the Power platform for the Waves ecosystem itself. We'll be launching charity DAOs along the way. There is going to be Waves Association DAO which distributes grants to projects on Waves. There's been a disaster in Turkey, I've sent some WAVES to help people out. Community DAO could be helpful in engaging the community and making sure we're able to raise substantial amount of WAVES. We'll provide relief for Turkish people as much as we can. It's better to come up with some ways to do it peer-to-peer. 

Related Questions

Q: Does the sWAVES pool receive Power airdrop?

Sasha: All Waves products will receive PWR.

Q: Will WAVES kept in the WX, Puzzle Swap pools, and also provided as supply on Vires Finance be viable for the POWER airdrop?

Sasha: Yes. 

Q: Can you create a Neutrino relief fund for humanitarian purposes? 

Sasha: Interesting. I would try to launch a child DAO on the Power platform. It's not about just collecting money, it's also important to spend them properly.

Q: Will there be a second snapshot?

Sasha: Yes. Let's just do some marketing for Power. I think it can wait a little.

Q: Why not drop PWR to the loyal Waves community now and then do another drop to the CEX users?

Sasha: We're not going to do a drop to CEX users, we want them to withdraw their funds from CEXs so they could receive an airdrop on the Waves blockchain.

Q: Please, clarify, will the airdrop be next week or later?

Sasha: I think it will happen until the end of February.

Sasha’s Comments on Waves 2.0 

We've started the development, we'll publish the litepaper pretty soon. We came up with a very elegant solution to scale the possible transaction volume and throughput considerably in a very interesting way. 

Related Questions

Q: Will Waves 2.0 make smart contracts faster? 

Sasha: The throughput will be much higher, and that will increase the speed of everything on Waves.

Q: Are you planning to create a new stablecoin in Waves 2.0?

Sasha: It's not related to Waves 2.0. I promised it, and it will be there, but I won't give you more details until it's launched. And it will be launched when the time is right.

Q & A

Q: ​Can you increase the refill amount and frequency of ERC-20 USDC?

Sasha: We're trying to do that, it's going very slow, but we're moving forward. It will be resolved. Please, bear with us.

Q: When can we withdraw WEST?

Sasha: I don't think there's anything wrong with WEST withdrawals. I will ask.

Q: Are you shutting down Waves School?

Sasha: No, we are not. We will relaunch it based on the trial run that we had. 

Q: Is it possible to ask about Surf holders to have an increase in gNSBT?

Sasha: Maybe you can come up with this proposal. We need to make sure the community votes for it. 

Q: What's next for NSBT and its holders? 

Sasha: I think NSBT is going to be fine because functionality doesn't change. 

Q: People are asking about the NSBT lock because the locked NSBT cannot receive the fees and participate in governance. There's a withdrawal penalty if you decide to withdraw from the lock. 

Sasha: I think it will be lifted, but we need to discuss it within the community.

Q: Could you please answer simple questions about the gateway? Is our money still fully backed 1 to 1? Could you provide ETA?

Sasha: It's not moving fast, ETA is weeks. Can't tell how many weeks, but we add funds in batches. We're trying to do everything we can to resolve it.

Q: You were supposed to fix withdrawals in January.

Sasha: My apologies. I'm really doing my best, I'm always with you.

Q: When is the Waves Ambassador program selection? 

Sasha: It's working, you can apply. 

Q: Is Waves still fast enough for building games in the infrastructure? 

Sasha: Of course, Waves is very fast, and it's going to become even faster soon.

Q: Is it possible for Waves to connect to the Polkadot parachain?

Sasha: In principle, yes, but I don't know why, we should come up with better solutions than Polka. 

Q: EGG to the moon!

Sasha: As for Ducks, stay tuned, it's not moving as fast as I hoped it to move, there has been some kind of a proposal that the community accepted, but after that they will implement the thing I promised, some enhancement of the Duck universe with new animals. And after that I think the game will get a pretty huge boost.

Q: No way I'm paying an additional fee to withdraw.

Sasha: No, I don't think we'll do that, it doesn't make sense.

Q: Do you think it's possible to denote it in Upbit?

Sasha: If you're asking about the Korean situation, we're trying to do some marketing in Korea now with Korean influencers. I think it's going to get better. As for the exchanges, it's hard. As you know, Binance removed the warning, and I think Korean exchanges will follow, but I can't tell when. 

//Transcript End//

Tune in every Friday, 9:00 a.m. EST to learn the latest news and updates on the Waves ecosystem first-hand, directly from the Waves mastermind, Sasha. See you on our YouTube channel!