Waves Labs
Jun 13,2023

AMA with Sasha 9/6/23

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 9/6/23 can be found here.

//Recap Start//

Key Points:

  • So far, 7 projects have already been successfully funded by Waves DAO, but there was a situation with the Keeper Wallet team. They used the address of one of their bots to get the XTN tokens with which they planned to fund their project. And as soon as the bot got access to the funds, it sold them for WAVES and significantly lowered the price of XTN. However, the situation is now resolved and the Keeper team has bought the sold XTN out.
  • There is a lot of discussion about the miners' vote, at the moment we are introducing additional functionality at their request, but we are moving on and I hope that miners eventually accept it.
  • There are some interesting updates from Vires. They enabled reward claiming for providing VIRES to the protocol. And they also started voting to liquidate all -WXG markets. They also promised to launch a collateral unlock option in case of 100% market utilization, so that users would have the option to collect collateral from borrowers in case they cannot withdraw their deposit. This will resolve the situation Vires is facing, as it cannot be compared to liquidation.
  • The WX token staking rewards have been enabled, and their distribution will start on Monday.

Q & A

Q: How is the WX rebranding going?

Sasha: It was supposed to happen this week, but due to some technical difficulties, it will happen next week. The new domain will only include all of the currently working products, i.e. WX liquidity pools, trading, token buying and listing by users and an aggregator.

Q: When will the -WXG token withdrawal be available?

Sasha: Unfortunately, I can't give any deadline, for now the plan is to keep buying tokens back, but the withdrawal may open depending on available liquidity. Don't forget that you don't have to sell tokens now, you can wait for a suitable buyback price and stake them in the WX liquidity pools in the meantime.

Q: Is there a plan to increase the volume by which -WXG tokens are bought back?

Sasha: Yes, it will be increasing depending on the trading volumes, and there is also a certain partnership planned for the end of June, which I think will help to resolve the liquidity situation.

Q: What about the USDC-WXG/USDT-WXG audit?

Sasha: As I said before, auditing is essentially taking -WXG tokens out of circulation by replacing them (buying back) with the new ones. Currently, we are working on increasing the volume of fees.

Q: Will there be a launchpad on the new domain?

Sasha: Definitely! In fact, it has already been done, but not deployed yet.

Q: Is there anything planned for WX that we don't already know about?

Sasha: I don't think so. For now, we plan to launch it with fully working products, and not clutter it with unnecessary ones.  

Q: I have heard something about LP tokens on Power DAO. What can you tell us about them?

Sasha: Yes, there are plans to launch a separate interface for them, but it's better to wait for the announcement next week.

Q: Will there be a POWER drop for TSN holders?

Sasha: Why not? It’s up for discussion.

Q: Is Power DAO going to launch anything other than Waves DAO?

Sasha: Yes, there are plans for the Ambassador DAO to help with marketing. Also, another charity DAO is planned for next week.

Q: What about withdrawals to the TRON network?

Sasha: I think you should ask the guys at the PEPE team.

Q: When is the POWER drop for SURF holders?

Sasha: It will take place before the end of June. The snapshot has not yet been made.

Q: When will -WXG and -PPT USDT tokens equalize?

Sasha: Realistically, we plan to buy back these tokens by the end of this year.

Q: Any news about Waves 2.0?

Sasha: We already have a plan for Waves 1.5 ready. And the development according to this plan has already started. As for the Waves 2.0 plan, it still needs to be finalized.

Q: What's coming in Waves 1.5?

Sasha: The main difference with our current network is the optimization of smart contracts. However, there are also ideas for burning fees. I think they should be discussed with the community.

//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!