AMA with Sasha 11/10/24

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.

//Recap Start//

Key Points:

• As you already know, we've been running the TestNet campaign for a couple of months now, which will be coming to an end very soon. And I'd like to talk about the planned launch of a full-fledged Units Wallet right in Telegram. What's more, the Questing (TestNet) campaign will essentially continue within this app! You'll be able to earn some more points, and UNIT0 tokens. And of course, this release will also be followed by onboarding new users with a separate campaign.
• Originally there was also a Tap2Earn app planned for launch as well, but the trend for these apps has subsided due to the recent news. So I'm not sure if it's worth launching yet.
• Also this week we launched Units DAO! And as you can see it is working quite well. The first vote simulated the launch of the new blockchain (Unit1) on TestNet. I should also note that this is the last step in the development of the core Units protocol, so we are rapidly approaching release. After that Units DAO will manage 10% of the UNIT0 blockchain in order to develop and extend the protocol.

Q & A

Q: How does Units Network plan to stay competitive among many similar L2 projects? What is the team's strategy regarding emerging technologies and standards?

Sasha: I think the best way to do this is to implement the L2 Endgame model. As in, the most convenient and simple way to implement EVM sidechains. And in our understanding, this is the consensus based on the L0 Waves blockchain using the restaking model. I think other scalability models will eventually come to this. So we want to be the first to implement this model.

Q: Could you clarify how governance would work in Units Network? 

Sasha: Have you heard of Power DAO yet? If not, I strongly advise you to familiarize yourself with this protocol because it is the basis for the Units Network governance. 

Q: So the DAO will be used to manage Units Network, but will there be any consequences for those who don't vote or make decisions that don't benefit Units Network?

Sasha: Are you talking about slashing mechanics? Yes, such mechanics will be introduced gradually, and voters who make bad decisions will face certain consequences.

Q: What is the advantage of UNIT0 as a governance token? 

Sasha: I would highlight the potential for revenue generation. Just as the punishment (Slashing Mechanic) for making bad decisions, there will also be rewards for successful management of Units Network. And all voters who make a decision that leads to the development of the project, or the successful launch of a new L2 sidechain, will be rewarded with the token of that sidechain.

Q: How do you see Units Network evolving over the next 5 years? Are there any goals you'd like to accomplish?

Sasha: I would emphasize the plan to onboard 100 new sidechains by 2025. Overall, I plan to significantly increase the volume of liquidity on the network.

Q: What portion of UNIT0 will be shared by L2MP stakers?

Sasha: It will be significant, however I can't tell you the exact amount of tokens yet as we are still finalizing the Units Network tokenomics.  

Q: And when should we expect tokenomics to be finalized? 

Sasha: I think it'll be done in the next few weeks.

Q: What inspired you to create Units Network and how does its launch help the entire Waves ecosystem?

Sasha: From the very beginning, the Waves ecosystem needed its own EVM as well as a model to solve the scalability problem. Both of these things are necessary for the further development and expansion of the ecosystem. Not to mention that WAVES token holders will also get revenue from new sidechains.

Q: Will there be any stablecoins on the Unit0 sidechain?

Sasha: Of course, the most popular stablecoins will be represented along with their respective gateways.

Q: When should we expect the meme platform to launch on Waves?

Sasha: It's coming soon, so expect to see an app on Telegram.

Q: Will there be a simple solution to implement Waves community token gateways?

Sasha: Sure! It will be possible to get tokens out to other networks thanks to decentralized gateways.

Q: Will there be staking or separate awards for UNIT0 holders?

Sasha: Absolutely! Just participate in the Units DAO governance and you can get rewards.

Q: What if some network fails to launch on Units Network? 

Sasha: The launch of new networks is organized exclusively through the Units DAO governance. That is, the task of the voters is to manage these networks, and networks that may fail to launch should simply not get enough votes.

Q: Is Neutrino Protocol planning to run something on Units Network?

Sasha: Yes, I keep in touch with the team and they continue to work on upcoming releases.

Q: There has been news of attacks on several projects in the Waves ecosystem, have they been dealt with?

Sasha: Yes, some parts of the infrastructure had been attacked, but everything is now back up and running. As for the attacker, if I were him, I would be more careful.

Q: And how will UNIT0 liquidity be maintained after the release of the first MainNet network?

Sasha: The price of UNIT0 will be mainly provided by its limited circulation. However, decisions made by DAO will be aimed at maintaining its stability.

Q: Will the Units Network's smart contracts be audited prior to launch?

Sasha: Yes, we're working with a couple independent companies for that.

Q: What should we expect next week?

Sasha: I think we can expect the launch of Telegram Wallet as early as next week!

//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!