Jul 19,2023

AMA with Sasha 14/7/23

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 14/7/23 can be found here.

//Recap Start//

Key Points:

  • Waves DAO is up and running, while moving towards maximum decentralization. With the activation of Feature 19, a portion of WAVES emission began to be directed to the DAO and distributed to users in the form of LP tokens.Many teams in the ecosystem have already put forward funding proposals, including our core and Power DAO developers.
  • I would like to pay particular attention to the first proposal from the core team. With it, we are solving two problems at once. It launches an MPT token that will generate a fee and governance L2 token (EVM). This token can be obtained even with XTN in the Vires protocol vesting without any restrictions. Also, miners who support Waves DAO will be able to get MPT, as it is them who will generate the new L2 token. That solves two problems: XTN holders on Vires can close their positions, and we finally launch the L2 Blockchain!

Q & A

Q: Any updates on VCs?

Sasha: Yes, I have been to Turkey and had some discussions about it, but at this point I would say we need to wait a bit.

Q: Why is the price of XTN dropping despite the token being bought back?

Sasha: At the moment the price is stabilizing and the buyback volume is not very large yet. I wouldn't expect a sharp price increase with a $5K per day buyback.

Q: What will happen to the deprecated Vires markets?

Sasha: They will be assumed by one account, and similarly, I think that vesting should be introduced on -WXG markets as well. However, this is still up for discussion and vote. Or we can wait for the XTN price to grow and liquidate -WXG markets afterwards.

Q: When will there be more information on the MPT token?

Sasha: I think there will be a small litepaper next week.

Q: Will users who have funds on -WXG Markets get XTN when liquidated?

Sasha: Yes, certainly.

Q: You mentioned that the XTN Trading Bot will trade with BTC. Is that still true?

Sasha: Yes, but at the moment the implementation of a trading bot will hurt the price of XTN, as it will increase its supply on the market.I have already discussed this idea with several ecosystem projects and I think we will have updates about it next week. 

Q: How much XTN will WAVES deposit holders on -WXG markets get when they are liquidated?

Sasha: Either I or the Vires team will provide these calculations a little later on.

Q: There are about 38 million XTN tokens in the -WXG marketplaces collateral on Vires. Are they all going to hit the market? As in the open circulation?

Sasha: No, most of them will be exchanged for MPT. This will ruin the whole effort with the XTN burn.

Q: Why can't I see -WXG tokens on the exchange?

Sasha: It looks like you are on https://wx.network/, where these tokens are not verified and are traded in community mode only. You can find them in regular trading pairs at https://waves.exchange/.

Q: When is the WX Launchpad launch?

Sasha: I think we can expect it when all the teams that have submitted proposals to launch new tokens launch their tokens.

Q: Do you think the PEPE team will succeed in creating a native bridge for BTC and LTC networks?

Sasha: Yes, in fact they are working on a bridge for BTC right now!

Q: Will VCs be needed to buy back LTC-WXG?

Sasha: No, LTC-WXG liquidity shortage is quite small, I think it can be filled with the help of exchange fees

Q: When will the POWER drop for SURF holders happen?

Sasha: I think we should hold off on it until the MPT distribution, which could have an impact on the SURF price.

//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!