Jan 16,2024

AMA with Sasha 12/1/24

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. This is a short recap, the full recording of the weekly AMA from 12/1/24 can be found here.

//Recap Start//

Key Points:

  • We've been actively preparing for the Waves 1.5 release, and hoped to get it out this week, but we'll have to hold off until next week. This release will see the introduction of Lite-Node, which instead of block verification, will be able to broadcast snapshots of the blockchain state.
  • The core team working on the blockchain is already preparing the system for this update, and we can expect the release of Waves 1.5 early next week. Voting for activation of the update among miners will start right after that.
  • Also, we are actively preparing a marketing campaign for Waves 2.0 and Units.Network. Let me remind everyone who is not yet aware of this update and the Units.Network project itself, it is a network of interconnected L2 blockchains with an EVM support. The Units.Network marketing campaign requires a little preparation before the retro-drop and further action.
  • WX.Network burned 1 million WX tokens today. As you probably already know, half of the trading fees on WX.Network goes to the WX token buyback. And in January their team plans to release synthetic tokens, at least on TestNet.


Q & A

Q: What amount of XTN do you think should be left by the end of its buyback?

Sasha: It is planned to gradually reduce the XTN supply by 100%. That is, all tokens are to be bought back and burned, eventually.

Q: So the Neutrino Index release is postponed?

Sasha: Yes, if you haven't seen the announcement from the Neutrino team yet, the release is planned during the next Neutrino DAO sprint.

Q: Don't you think the launch should be done on other EVM networks as well?

Sasha: Yes, I think the launch will happen not only on the Ethereum network.

Q: Any news regarding the SURF swap to L2MP?

Sasha: Not yet, but I think this feature will come a bit later.

Q: Are there any plans to list L2MP on other exchanges/blockchains?

Sasha: There is quite a bit of time left for this to happen, however it may well be a sound idea. I think it's worth consideration.

Q: Any news about Numeris? When is the project launch?

Sasha: At this point, it is still raising funds. Once the funding is secured, a launch can be expected soon. However, even if funding needs to be obtained in other ways, the project will be launched, just a little later.

Q: What will the process of the mining rewards distribution on the L2 blockchain look like?

Sasha: It will be almost identical to the L1 mining process, its principle is planned to be borrowed, that is simply utilizing the mechanics of leasing.

Q: Is PETE waiting to be listed on other exchanges?

Sasha: Of course! Listings of the token on other networks are in the works.

Q: When will the L2 Blockchain marketing campaign start?

Sasha: Sometime in mid to late January, around the month’s last week.

Q: Could you please clarify what an EVM is?

Sasha: Sure! EVM or Ethereum Virtual Machine, is a platform for creating smart contracts, which originally appeared in the Ethereum network and was inherited by almost all forks of this network. And due to its prevalence, it has become quite a large part of crypto. Units.Network will have EVM support, which means that many experts already familiar with EVM or entire projects built on this platform can be ported to the L2 blockchain Units.

Q: Is it true that the L2MP marketing campaign is necessary to increase the demand for the token, and thus to increase the volume of XTN burning, because the XTN swap in L2MP is still available?

Sasha: I guess you could say that, because the swap to L2MP is done at a 1:1 ratio, and if the price of L2MP exceeds the price of XTN, it will create an earning opportunity.

Q: When will the ability to export the XTN vesting LP tokens on Vires.Finance be restored?

Sasha: It was scheduled to come back as early as this week, but users are still actively claiming all tokens on the vesting smart contract. I think this feature will return next week.

Q: Don't you think it would be reasonable to burn the WX tokens that are on the ecosystem’s team wallets and in some DAOs?

Sasha: As far as I understand these funds are on cold wallets and are not part of tokens in active circulation. That is, they can be sold to VCs in case of some arrangement, if we are talking about team funds. And the funds received in this way will go to the development of the ecosystem's products. So burning them wouldn't make much sense.

Q: When will the situation with -WXG assets be resolved? At the moment, the buyback of these tokens is quite slow and the withdrawal options are not very favorable for holders.

Sasha: I think that options will appear with the launch of L2 blockchains. As it can attract additional liquidity to the ecosystem, and this, in turn, will give new options to resolve the situation. Also, we should not forget about the new WX.Network products that will increase the buyback volumes.

//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!