Aug 22,2023

AMA with Sasha 18/8/23

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 18/8/23 can be found here.

//Recap Start//

Key Points:

  • The first epoch of Waves DAO has come to an end! The award distribution is expected on Monday. All who committed POWER should get about 100% profit for these 3 months. And investors (WAVESDLP holders) will get WAVES for each LP token!
  • Now we intend to draw attention to Power DAO? so there's a vote in Mother DAO that proposes to spend 100 POWER tokens to promote Power DAO protocol at the expense of Marketing DAO. Be sure to vote.
  • We are also actively working to restore the price of XTN, and for that, we proposed the Neutrino protocol update, where the maximum sale amount to the XTN protocol was increased. Despite the fact that the quorum was not reached, none of the participants voted against this idea. Therefore it was decided to implement it and the result was a positive reaction of the XTN price. Because of this situation, I think we will have to update the Neutrino Protocol's governance system.

Q & A

Q: Could you please clarify how the marketing Initiatives will be handled in the Marketing DAO?

Sasha: Once a proposal is approved, in which a project offers its funds to the Marketing DAO, marketing campaigns will be organized to help attract users to the protocol, and DAO participants will receive revenue in the form of tokens provided by the projects.

Q: What's the news on PETE?

Sasha: Staking is scheduled to be released next week, as well as NFTs which will give their holders the opportunity to receive a portion of the fee from the trades.

Q: I'm confused, what happens to USDT-WXG once the audit and token delisting is complete?

Sasha: At the moment it is quite difficult to raise trading volumes on WX, however we plan to launch futures and derivatives trading in the near future, this should increase trading volumes and the speed of -WXG tokens buyback.

Q: Sasha, why don't we use some tokens like EGG, exchange them through Puzzle pools for -WXG tokens and buy them back that way?

Sasha: This is possible, but it will affect the price of EGG token so much and negatively that there is no way to compensate for it, so I think that trading fees are the most reasonable option for now.

Q: Are you selling the WAVES you own? Why not buy back -WXG tokens with them?

Sasha: The tokens that I or our ecosystem teams sell are not sold for profit, but to keep projects running, pay salaries, and pay for servers. However, if you have evidence to the contrary, you may want to contact the SEC or the nearest police department. 

Q: Is L2 development going well?

Sasha: It is! We've almost decided what approach to blockchain implementation we should use and decided what things we should borrow from Ethereum to get the blockchain up and running faster. There will be an update for L1 (Waves 1.5) prior to the launch of L2, it is expected to be released in about a month.

Q: What about v1 markets on Vires? Should we expect vesting?

Sasha: Yes, the plan was to use XTN for this, but putting additional pressure on its price is highly undesirable at this point. If its price was around 10 Cents, we could just release the collateral into the vesting. At the moment I think we should wait for the activation of Swaps in L2MP, after which we can make decisions. 

Q: Will AI or neural networks be implemented in Waves projects?

Sasha: I think so, we already have a project that has received funding through Waves DAO (BAI).

//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!