3 minute read

AMA with Sasha 5/5/23

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 5/5/23 can be found here.

//Recap Start//

Key Points:

  • Waves DAO is already up and running, the community will decide what to do with XTN, which was the result of the debt situation on the Vires protocol.
  • The audit is moving forward, very soon we will be able to publish its results! Also, the buyback of some -WXG tokens paired with WAVES has started!
  • New fundraising ideas for the ecosystem that will be revealed soon.
  • TurkiyeDAO event next week.

Q & A

Q: What is the reason for the price difference between -WXG tokens on WX and other exchanges? When do they "equalize"?

Sasha: It should be noted that we are talking about tokens of old WX gateways, which are being taken out of circulation (there will be no deposits, transactions will be cancelled). Their prices will gradually be comparable over time, in line with the liquidity that will be coming through the PEPE team bridges.

Q: When will there be PEPE bridges with the TON network?

Sasha: The PEPE team is already planning to launch bridges with this network.

Q: Will there be pools for wrapped PEPE team tokens? We need liquidity in steblecoin pairs. Will there be a solution for this?

Sasha: Yes, new pools are being launched! At the moment, they are going through the governance on WX.

Q: I think you should still consider launching megapools to solve this problem. Do you think it is possible to use some of the funds from the treasury of Waves DAO to provide liquidity to the stabelcoins?  

Sasha: We can start voting on this, of course. There will be some suggestions made for Waves DAO, let's save the discussion for the next week. However, I would be glad to hear yours, because the community itself can earn money by providing liquidity!

Q: Will -WXG tokens be equal in price to -PPT tokens?

Sasha: We strive for this, as I said, the buyback of old -WXG tokens is aimed at stabilizing their price.

Q: How will the voting parameters be determined in Power DAO? Quorum, duration and slashing parameter, who defines those? 

Sasha: I think next week we will provide a proposal on this topic and the community will be able to decide on these options. This will indicate the default values of the parameters, and if the community is unhappy with one of them, we can determine an appropriate value in a separate vote.   

Q: What happened to Lambo staking? At the moment people can't get their money out. Where did it go?

Sasha: Unfortunately, due to the situation with XTN, its depeg and liquidity on gateways, there were some problems with Lambo staking. However, as soon as the situation with XTN comes back to normal and the audit is completed, we plan to continue working on this product.

Q: We currently have two different USDT tokens that were wrapped by WX gateways (-WXG) and that were wrapped by the PEPE Team (-PPT). Let's say someone runs another independent gateway in addition to the PEPE Team. It would be extremely difficult to make sense of the tokens then! Is it possible to make a universal USDT token? 

Sasha: The PEPE Team insisted on this classification of tokens, simply because it makes it much easier to keep track of balances. This is a classic gateway problem. They are either a.) convenient for the user (clear names, withdrawal to any network with a single token, but are extremely technical and can often suspend their operation due to frequent problems); or b.) convenient for the service (A separate token for each network with its own gateway, which takes some getting used to. But the breakdowns are rare, there is transparency and easy accounting). The way out I see is to build a service on top of these independent bridges.

Q: Are there any plans to improve the UI of the Waves ecosystem and WX in particular?

Sasha: Given the plans to implement EVM, I think it will have to change a bit, and yes we plan to make improvements.

//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.

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