Nov 8,2023

AMA with Sasha 3/11/23

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 3/11/23 can be found here.

//Recap Start//

Key Points:

  • WX DAO has finally launched! The DAO has reached the required funding, and the voting for the PWR token issue has already started, which will last until November 7. On the 8th of November, the snapshot of gWX holders will take place, for further distribution of PWR tokens among them.
  • I would also like to remind everyone about Ambassador DAO, since it is launching soon. I advise you to commit PWR tokens to it as soon as possible to get 10% APY every month.

Q & A

Q:Ambassador DAO will inherently be able to get any task done, meaning it will be possible to go there and ask for a particular token to be listed on CEX?
Sasha: No, Ambassador DAO won't even have a treasury at launch. So users will only be able to get rewards for completing tasks in PWR token, listings require funds so I don't think this is a task for Ambassador DAO. 

Q: Perhaps then this task would be more suited to Marketing DAO?

Sasha: Absolutely! If you have marketing needs, you can create a proposal describing them and post it to the Marketing DAO.

Q: Sasha, stop the WAVES Inflation!
Sasha: It's actually not that high, currently around 4% annually.

Q: Will WAVES stay that way at the current price, or do you expect it to rise?

Sasha: I think if we implement everything we're planning at the moment, the price will respond to that.

Q: Could you elaborate a bit more on all the features and options for the XTN swap for L2MP?

Sasha: Right now XTN holders, which includes both just token holders and XTN vesting holders on the Vires protocol, can exchange their XTN tokens for L2MP right now. I would like to remind Vires users about this withdrawal option, as well as about the still extremely high yield of L2MP staking and the possibility to become the first L2MP whales after the conversion. In 3 months, this option will be gone, right after the launch of the L2 network. 

Q: What if I am not interested in XTN vesting? How will Vires refund my deposit?

Sasha: if you have a big Vires account, please DM me on Telegram to discuss swapping to L2MP.

Q: Could you please clarify exactly how DAO Marketing is conducting PETE's marketing campaign?

Sasha: We actually launched a second campaign, the first one ran a number of contests and brought new members to the PETE community, and the second one launched a trading competition on the ETH network. Both have had a fairly small impact, but we are moving forward, we will be trying out a few more campaigns in the future.

Q: Sasha, could you please clarify how the situation with the Vires v1 markets will be resolved?

Sasha: Funds from them can be converted to XTN at the current market price. Right now there is already a possibility of such conversion for WAVES token and its deposits, and in the future the possibility of such conversion will appear for other v1 marketplaces as well.

Q: Which token do you think will grow in value first: L2MP, PWR, or WAVES?

Sasha: We haven't yet done the second Power DAO marketing campaign, which will be centred around Mother DAO, so it's quite hard to say for sure... I think we should first wait for this marketing campaign, which is scheduled for November.
Q: Is there any timeline on the launch of Ambassador DAO?

Sasha: There is unfortunately no timeline, however once the DAO is up and running, the process of identifying an executive committee will begin.

Q: Could you please explain exactly how the WX DAO mitigates risk for its participants? Considering the fluctuations of the PWR token.

Sasha: To begin with, it should be considered that it is not only the task of WX DAO. The whole tokenomics of PWR is about its scarcity. It is rare, and this rarity makes its price more stable. But it's not just about the PWR token, the core of the DAO is its treasury, and ensuring its growth is the risk mitigation you are asking about. This is what we achieve when we buy back WXG tokens into the DAO's treasury, expecting to sell them later.

Q: How to determine if Marketing DAO was successful in implementing a PETE marketing campaign or not? What are the KPIs?

Sasha: If the company is successful, Marketing DAO will receive 10K PETE tokens as announced. If not, Mother DAO will be able to launch a proposal that will resolve the situation. To clarify, Mother DAO is able to override any decision made in the Child DAO.

Q: What do you think will interest developers and new users in the Waves ecosystem?

Sasha: I think this is basically the main task of L2 and EVM. And this L2 will have its own DAO which will receive 10% of all L2 tokens and decide how and what to spend them on. Part of these funds will go to L2 development and sponsoring developers to create new projects. I think this is what will attract new users and developers. 

Q: How soon will developers be able to start developing on L2? 

Sasha: I think that immediately after the launch of the network (in about 3 months).

Q: Is there an implementation timeline for the Neutrino Indexes?

Sasha: I think they should launch at the end of November.

//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!