Jul 11,2023

AMA with Sasha 7/7/23

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 7/7/23 can be found here.

//Recap Start//

Key Points:

  • The XTN buyback has started! Once again, many thanks to the miner community for their support of Feature 19. That's what made a stable buyback and XTN burn possible.
  • The Waves DAO interface has been launched and the settlement will take place in a month. After that, additional functionality will be added to the interface, such as adding your own funds to the Waves DAO treasury and working with LP DAO tokens.
  • I would also like to address the -WXG token buyback, which is the next highest priority. This could come with increased trading volumes on WX or a successful deal with the VCs.

Q & A

Q: What about the latest news on Waves DAO?

Sasha: The teams will start launching their proposals starting next week! Waves 2.0 will be among them and will launch its fee token. It will also help with the XTN situation. Next week, there will also be an Ambassador DAO to help with marketing. This will be a for profit DAO where projects can provide their tokens as a reward for the marketing team (20%) as well as for the Airdrops (80%).

Q: I have an overcollateralized loan on Vires, will I lose it all if my loan's market is liquidated?

Sasha: I think paying off the collateral is possible. If the -WXG collateral tokens get burned, they could be reissued.

Q: Not all debts on Vires -WXG markets can be repaid, because there just might not be enough tokens on the market. How to pay them off?

Sasha: We have dealt with such cases before, please contact me or the Vires support team through their website.

Q: Where does XTN go after the buyback? It is not burned on the buyback transaction.

Sasha: It goes back to the Neutrino smart contract, and is thus taken out of circulation. I've seen people suggest burning all XTN (even the ones not yet issued into circulation), but this leads to one problem: this robs it of its future as an index token, as releasing more (If necessary) would be impossible.

Q: Are XTN and WAVES tokens somehow connected?

Sasha: Yes, at the moment XTN is partially backed by WAVES tokens.

Q: Are there any plans to reduce current WAVES inflation?

Sasha: Not yet, it's helping us solve the XTN situation and also developing the ecosystem thanks to Waves DAO. And it's only 4% annually. In the future, when the problems are resolved, miners can vote to reduce it.

Q: What about fiat withdrawals? Will they be available in the ecosystem?

Sasha: I think this is a question for PEPE Team, but as I recall, it's not their highest priority.

Q: Will there be P2P trading on WX?

Sasha: It is possible, but also not a priority.

//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!