Nov 28,2023

AMA with Sasha 24/11/23

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 24/11/23 can be found here.

//Recap Start//

Key Points:

  • We have finally announced the name of the L2 blockchain ecosystem we are about to launch. Each new network will be called UNIT. The first L2 network will be launched in January-February and will be called UNIT0.
  • The massive L2MP airdrop and marketing campaign for the new network will begin as early as next week! The goal of this marketing campaign will be to attract attention to the project and further listings. The goal we have set for the new L2 blockchain is to launch a network with a capitalization of about 100 Million USD, which we plan to achieve in the first year of its operation.
  • Many Waves DAO projects that have already received their share of funding are contributing their tokens to the DAO treasury. They are also actively preparing for their IDOs and final releases of their tokens. ORIENT, Team PEPE and AXLY tokens have already been received by the DAO treasury, while WAKE will also be transferred next week.
  • The Vires relaunch proposal is ready. You can expect it to be published as early as Monday.

Q & A

Q: If we commit L2MP tokens next week, will we already start generating revenue from UNIT0 mining?
Sasha: No, but you will be able to lease them immediately to a node you want. You will also have the option of leasing them later, but I think it's better to do it in advance. You can also stake L2MP tokens to increase their amount before the start of mining. Once it starts, staking will stop generating income. 

Q: But L2MP and its functionality as a mining token will be gradually adopted by the WAVES token, right?

Sasha: Correct. Initially, only L2MP will have mining functionality, but after a gradual yearly emission reduction, the mining function will be taken over by the WAVES token.

Q: And how many L2MP tokens will be distributed per airdrop?
Sasha: About 10 million tokens. However, users will receive them gradually.

Q: Any news on the Neutrino index?

Sasha: I think we are expecting a certain release from Neutrino pretty soon. The idea at the moment is to launch something big on EVM networks. I believe that will help with attracting liquidity. We might see this announcement as early as December.

Q: So Neutrino index will launch a huge pool with 10 tokens at once?

Sasha: Yes, I think they will launch it on the Ethereum blockchain right away. I'd like it to launch on our network first, but given that the gateways don't have enough supported tokens at the moment, it would probably make more sense to launch it on a different network.

Q: What would be the incentive to invest in this pool?

Sasha: Yield! In essence, you will receive part of the fees from trading in this pool, in the very tokens you invested, for instance, in Maincoins (ETH, BTC, etc.).

Q: Many tokens in the ecosystem suffer from low liquidity in their pairs. Should we lock both tokens in the liquidity pool instead of just one?

Sasha: Such an option already exists and you can use it right now, for example on AXLY, maybe it will be more convenient for you.

Q: What about the derivatives and futures markets that were going to be launched on WX?

Sasha: We wanted to launch synthetic tokens soon, in December. But futures will not be launched until early next year.

Q: Could you tell us something about the upcoming L2 blockchain marketing campaign (UNIT0)?

Sasha: Basically, we will be holding a massive airdrop, which will take place gradually over 2 months. And all L2MP tokens that will be given out, are going to be committed before the start of mining, i.e. users will be able to collect them in about 2 months. After that we will launch another marketing campaign related to Power DAO.

Q: In the Vires community there is an idea to distribute tokens received by WX DAO through buybacks between V1 -WXG markets, in exchange for the collateral of these tokens left to the protocol by the borrowers.

Sasha: As I recall a similar idea was already proposed to the WX community but it was rejected.

Q: Yes, but back then the WX community was simply offered to double the waiting time for the -WXG tokens buyback. Now, with WX DAO, users have the opportunity to earn XTN on this. And also to reduce the XTN emission that now occurs due to vesting, and thus facilitate the buyback.

Sasha: I think you should post this proposal on WX DAO.

Q: What about SURF? Is it also planned to be exchanged for L2MP?

Sasha: That's right! However, the exact procedure is yet to be determined.

Q: What about the Turkish VCs that wanted to create projects on L2?

Sasha: We are in talks with them. I think we can expect announcements soon.

Q: When will users be able to transfer back the Ethereum network XTN to Waves?

Sasha: They already can! It's just that the WX team is releasing these tokens from the gateways incrementally. Contact support on their website if you need help with withdrawing XTN from the Ethereum network.

//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!