AMA with Sasha 12/7/24
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 12/7/24 can be found here.
//Recap Start//
Key Points:
- As you already know we launched the KOL campaign, and we continue to expand it. The number of Influencers who participate in it will grow along with promo materials.
- The TVL campaign has had a great start with almost 700K USD locked. Now we are actively preparing for its expansion and discussing possible strategies with VCs, communicating with different exchanges on the listings, preparing different tools, such as a referral Telegram bot. Most likely all of this will be finalized by the time the deposits in other tokens come as part of the TVL campaign.
- The release of bridges for the Units TestNet is a bit delayed. However, we hope that their release will happen next week.
Q & A
Q: I am already participating in the TVL campaign and I am wondering at what proportion the points I earn will be converted to UNIT0?
Sasha: I don't think it's a good idea to disclose the conversion proportions yet, as this information could be abused.
Q: Recently there was a proposal about increasing WAVES inflation, could you explain its necessity?
Sasha: Of course! The new token issue will allow us to complete the XTN buyback in literally 3 months and with the launch of Units Network, we expect to bring in new users to the ecosystem who will benefit from WAVES high yield staking. Simply put, this will help create a much more positive outlook on the ecosystem as a whole in a fairly short period of 6 months.
Q: And these XTN buybacks are going to be burned?
Sasha: Of course!
Q: Why increase the price of XTN?
Sasha: The point is not to increase the price, but to let Vires Finance pay off all its debts that were collateralized by the XTN token.
Q: And after these 6 months, the block reward will go back to 6 tokens per block?
Sasha: Yes, that's right, it will go back to the current value.
Q: Won't inflation have a negative effect on the price of WAVES?
Sasha: I actually expect the opposite as there are lots of ecosystem projects.
Q: Are there any plans to bring in new Influencers to attract people to the Waves ecosystem?
Sasha: Of course, that's exactly what the KOL campaign is all about!
Q: I have a friend who is developing a card game on blockchain. How can I convince him to join Units Network and show that it is the most reasonable platform for his game?
Sasha: Units Network is the easiest way to get your blockchain up and running, but do you really need it? If he is an EVM developer, it will be easier to just implement his project on the Unit0 blockchain where the transaction cost is lower. If your project is interesting and you need funds for its development, I think it would be wise to go to Waves DAO for funding. In any case contact me, if your project is really good, I'm sure it will have a place on Units.
Q: How much USD is needed to pay off all the -WXG token debts?
Sasha: I think about 5 million would solve the situation.
Q: Are plans to attract liquidity to WX.Network still in the works?
Sasha: Naturally, but their implementation will start after Units Network is launched, as it will be much easier to start attracting liquidity with new users in the ecosystem and a number of new projects.
Q: Could you clarify what percentage of UNIT0 will go to L2MP stakers?
Sasha: Let me make this point clear, the entire UNIT0 supply (100 million tokens) will be split between L2MP stakers, VCs and TVL/Questing campaign participants over about 2 years. WAVES miners as well, but they are independently rewarded for block validation, and given the transaction fees being burned, as their activities could potentially be deflationary, similar to the current ETH blockchain setup. That is, miners' activity does not result in the issuance of new tokens. Unlike the revenue of VCs, L2MP stakers, and Units campaigns participants. The percentage of these shares has not been finalized yet.
Q: Based on your estimation, how much XTN will be burned after adopting this new inflation proposal?
Sasha: I think that most of the tokens in circulation will be burned until the price reaches 1 USD, and then everything depends only on the level of demand.
Q: After the launch of the Units gateways on TestNet, what else will need to be developed?
Sasha: After that it will be completed, gateways are the last step before the launch.
//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!