4 minute read

AMA with Sasha 19/5/23

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 19/5/23 can be found here.

//Recap Start//

Key Points:

  • The launch of Waves DAO vote is pushed to next week, but we're already finalizing the UI!
  • Vires has launched new V2 markets
  • A proposal to donate -WXG tokens to V1 markets on Vires to solve liquidity problems faster instead of burning them.
  • A proposal to increase the protocol’s share on V2 Vires markets by 10% and use the proceeds to buy nack and burn XTN.
  • WAVES emission proposal has been already implemented on Testnet, Mainnet vote coming next week.
  • WX gateway audit is still underway, along with -WXG token buybakcs. To accelerate these processes, we are currently looking for outside funding.
  • EAST 2.0 launch!

Q & A

Q: What if the miners don't agree with the proposal to buy back XTN? Is there a plan B?

Sasha: There are some ideas for products, like Waves 2.0! These will be presented in future votes.

Q: Could you tell us about Axly?

Sasha: As far as I know, it is a project the Swop.fi team is working on. It is a leverage project based on the Swop.fi protocol. They are planning to launch their token through Waves DAO, so let's wait for the proposal from them.

Q: When should we expect the official announcement of the Vires relaunch?

Sasha: The Vires team will be releasing a relevant announcement shortly.

Q: What will happen to the XTN that Vires will be buying back? 

Sasha: They forgot to mention it in the proposal, it is supposed to be burned on buyback!

Q: Do Vires' V2 Markets have the ability to perform liquidation?

Sasha: Yes, you can initiate liquidation if necessary, even right now.

Q: When will there be support for the Burn-XTN project? 

Sasha: As far as I know, we support them, but if not, please let me know!   

Q: Will Waves 2.0 have unlimited blocks?

Sasha: No, it's a feature of centralization, which we don't want.

Q: How bad/serious was the attack on the WX gateways? 

Sasha: Some of you may have seen the article that came out not too long ago in which they twisted my words a bit. Indeed, the situation was a serious one. There have been several intruders in our system who have caused us financial damage, but the situation with the WX gateways is completely isolated.

Q: What are the results of the audit so far?

Sasha: At the moment we are studying the gateways of each individual token, and we are planning to take them out of circulation. If you are interested in the reasons for the lack of liquidity, unfortunately I am not yet ready to give you an exact answer.

Q: Why did you stop doing giveaways?

Sasha: In the current situation, we think it's not appropriate. We should first deal with the problems that have arisen in the ecosystem.

Q: Will there be a refund for -WXG tokens?

Sasha: The plan remains unchanged, and even if the gateways to withdraw these tokens are closed again, we want you to be able to sell your -WXG tokens at an even price higher than their native token through buybacks.

Q: Are there plans to do something with the WX lock given everything that's happening in the ecosystem right now?

Sasha: I agree that a 4 year lock sounds too long, maybe we'll find other ways to unlock, or introduce a gradual unlock system.

Q: V1 and V2 Vires markets are not very different from each other, what makes V2 more stable?

Sasha: V2 markets are actually quite stable in terms of mechanics, and it is for the sake of stability that there is no XTN there.

Q: When is the WX launchpad?

Sasha: After the Waves DAO votes are launched.

Q: When will the new collateral for XTN be added, and when will it be activated?

Sasha: As you can see, we are now actively working on the mechanics to burn XTN and getting ready to burn it in bulk! As soon as these mechanics are implemented, the rest of the collateral will be added as well!

Q: Will EGG also be added to Neutrino's treasury?

Sasha: I think we first need to "resurrect" Waves Ducks EGG, and then we'll add it.

Q: Why hasn't the XTN been equalized over a year?

Sasha: As I said, it is easy to drop the price, but in order for it to stay there, we need to implement all those mechanics and collateral, which we are working on at the moment!

//Recap End//

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