Waves Labs
Jun 6,2023
3 minute read

AMA with Sasha 2/6/23

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 2/6/23 can be found here.


//Recap Start//

Key Points:

  • There is an active discussion regarding the miners' vote at the moment, I think we will come to a consensus in about a week's time.WX staking rewards are back
  • The most frequently requested feature is to review the token's unlock period when boosting WX! I think we will introduce an incremental token unlock feature in the near future.
  • Next week, we also plan to complete the rebranding and move WX Network to a new domain.

Q & A

Q: What about the Power DAO arbitrage bot that buys back vested XTN?

Sasha: It is already up and running, but needs some tweaking. At the moment, you can place sell orders, but note that it buys tokens at the current market price, so orders above it may take some time to fill.

Q: What about VCs? Have you managed to attract anyone's attention to Waves?

Sasha: Yes, but unfortunately some details need to be clarified at the moment. I think we'll be ready to disclose the details of this VC arrangement at the end of June.

Q: How long do you think the USDC-WXG buyback will take?

Sasha: The most realistic deadline I can give right now is one year. However, it is quite possible that it will be completed sooner in case something positive happens.

Q: How soon will the price of XTN recover?

Sasha: I think we will see the first steps towards the price recovery if the miners' vote passes!

Q: What about the POWER Airdrop for the SURF holders?

Sasha: At the moment some people are actively selling POWER tokens, so we plan to hold this distribution for a while so as not to make the price of tokens too low. But this drop is bound to happen.

Q: Is Keeper Wallet launching its own token? 

Sasha: Yes, they've just announced it.   

Q: What about the XTN trading bot for Vires?

Sasha: Unfortunately it didn't happen this week, at the moment the Vires team is still busy finalizing it. They have to sort out their XTN market first.

Q: Will the WX governance system change with the implementation of Waves 2.0?

Sasha: I don't think it will, since there's nothing wrong with it. However, as I mentioned, we will be making a few changes to the lock system, after which the contracts will be blocked for development, i.e. no changes will be made to them. This should give extra security to the voters.

Q: Is it worth adding BTC as a collateral for XTN? Does it make sense?

Sasha: I think so, but it should be an option for users. I think it only makes sense when we stabilize the XTN price and let people know that there will always be funds to buy $XTN back, thanks to the miners' proposal. After that we should add the possibility to issue XTN by providing such tokens as BTC or others to the Neutrino treasury.

Q: Please let us withdraw at least $200 a month!

Sasha: You can simply exchange your tokens for those that can be withdrawn. Don't forget that buybacks gradually restore the price of -WXG tokens, and the losses diminish.

Q: How much money has been withdrawn from the exchange in the last year?

Sasha: Approximately 300 million USD, but this is not an exact value, just an estimate.

Q: Is there a rough schedule for the audits? How long will they take?

Sasha: I think -WXG tokens will be removed from the ecosystem (Burned or bought back) by the end of this summer.

Q: How much funding is needed to continue developing the Waves ecosystem?

Sasha: Actually, each project provides for itself, all projects within the ecosystem are decentralized enough for that. By the way, the miners' proposal implies that part of the WAVES emission will be sent to Power DAO. In a year, this will amount to about 100 million WAVES tokens, which will be quite enough.

Q: What about Vires markets that are unable to return funds during buyback and delisting of tokens due to their 100% utilization?

Sasha: I think we'll have to introduce a collateral unlock feature in case of a 100% market utilization. This would be good for V2 markets, it would make the protocol much more stable.

//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!