Riding the Waves: 2022 Recap of the Waves Ecosystem's Progress
The crypto market of 2022 has been a challenging one, with the bear market affecting the entire industry. Despite these obstacles, the Waves ecosystem has made progress in several key areas. The Waves blockchain has been able to maintain its position in the market and continue to grow its ecosystem.
The launch of key projects such as Waves Duck Hunt, Waves School, and Pluto have shown that the Waves ecosystem is not only resilient but also innovative in these difficult times. The Power Protocol whitepaper, which was launched in 2022, has also sparked excitement for the potential impact it could have on the future of the whole ecosystem. Power Protocol is a governance model that aims to help communities achieve goals and hold leadership accountable. This whitepaper is a significant step towards creating a truly valuable blockchain ecosystem that solves real world problems.
Additionally, the community engagement and involvement has been strengthened in 2022 with events and initiatives such as hackathons and meetups that helped to shape the direction of the ecosystem. Despite some difficulties with liquidity issues for Vires and depeg for USDN, the community has remained supportive and is an integral part of the ecosystem's growth and success. Overall, the Waves ecosystem has shown resilience and progress in the face of a difficult market and is poised for even more advancements and opportunities in 2023 and beyond.
Ecosystem Growth: Key Projects Thrive
Despite the bear market in the crypto industry, several key projects within the Waves ecosystem have seen growth and success in 2022. One of the most notable examples is Waves Ducks, which introduced a new augmented reality game mode, Waves Duck Hunt, and rolled out updates, bug fixes, and ambitious roadmaps.
Another standout project is Waves School, which has been working to educate and empower individuals with the knowledge and skills to navigate the blockchain space. And Pluto, an on-chain reserve currency project that provides a mechanism to safeguard against inflation and allows users to earn optimal income, has seen an impressive average APY of 110% for staking.
A special mention must also be made of the launch of the Power Protocol whitepaper and its potential to transform governance with its launch next month. PowerDAO aims to provide a better governance system for organizations to achieve their goals, with a focus on accountability and community involvement.
These key projects within the Waves ecosystem have demonstrated resilience and progress in the face of a challenging market, and their continued growth and success bodes well for the future of the ecosystem.
The augmented reality game mode, Waves Duck Hunt, was a major highlight of the year for Waves Ducks. This new game mode seamlessly blended with the core game elements and made the game not only more profitable, but also more fun to play. The game introduced a new token and an entirely new way to grow your NFT duckies.
The community walked almost 1,000,000 kilometers on the hunt of golden eggs, and with the recent release of a full-fledged mobile app for iOS and Android, the number of eggs found is sure to accelerate. This year, the team had three DIPs (ducks improvement proposals), each switching up the game rules and bringing updates requested by the community.
Pluto, which launched in the summer of 2022, provides a mechanism that safeguards against inflation and allows users to hold a single token, earning optimal income while being confident that it’s backed by a treasury. Since its launch, the treasury has aggregated almost $2,000,000 in stablecoins and the total capitalization of PLUTO sits at 1,000,000, which means there are 1,000,000 PLUTO tokens issued to the market.
Throughout 2022, after Pluto was launched, the average APY ranged from 40% to 200% – with an impressive average APY of about 110% for staking PLUTO. Meanwhile, PLUTO was able to go from $1 at launch to $3.5 at its peak, and is now trading at about 2 $USDN (1.9 $USDN). Also, it has lived up to its promise, of beating bear markets and maintaining its backed price level, which increased from 1 $USDN to 1.6 $USDN.
In addition to these key projects, the launch of the Power Protocol whitepaper has sparked excitement for its potential impact on the Waves ecosystem and on DAOs in general. Power Protocol is a meta-governance model to help DAO’s achieve their goals, and overcome the limits and pitfalls for simple token governance models.
Power Protocol aims to provide effective governance mechanics for any organization that wants to achieve a goal and hold their leadership accountable if goals are not achieved. The applications of Power Protocol are limitless — from decentralized finance, to corporate and political governance, to trade unions and labor markets, and beyond.
Waves School is an asynchronous educational platform for blockchain technology and decentralized systems, and has seen respectable growth in 2022. With an increase in the number of users and a wider range of courses and resources available, the platform has become a go-to destination for those looking to learn about the latest developments in the blockchain space. The Waves School team made a strong push towards education in the field of DeFi and its application in the Waves ecosystem.
One of the key achievements of Waves School in 2022 was the successful launch of its dynamic courses, which received positive feedback from students and helped to attract a wide range of users, including those with interests outside of blockchain technology. The platform also expanded its reach by translating its courses into multiple languages, making it accessible to a wider global audience.
The community around Waves School has also grown significantly, with over 23,455 students enrolled and a strong presence on social media and Discord channels. The platform received positive feedback from students, who described the courses as perfect for blockchain initiation and praised their dynamic nature.
Looking Ahead: Exciting Opportunities on the Horizon
The Waves ecosystem has ambitious plans for 2023, with a focus on creating applications that solve real problems. Among these plans are the launch of PowerDAO, transition of USDN to an index fund, The Free World, a marketplace for digital nomads, and SafeFi, a decentralized savings platform. These projects have the potential to revolutionize the way we think about social systems, financial systems, work systems and political systems.
One of the most exciting aspects of the PowerDAO project is its ability to provide an effective governance system to any organization that wants to achieve a goal. This technology has the potential to revolutionize the way governing bodies and trade unions operate, putting the power back in the hands of the members and holding leaders accountable for their decisions.
The Free World project aims to open up permanent global travel and access to high-quality work for all, regardless of location, race, or creed. This could have a huge impact on the way we think about work and the gig economy.
Finally, SafeFi will give everyone a transparent, decentralized and consistent place to earn interest on their savings. This has the potential to disrupt traditional savings and investment models and give people more control over their financial futures.
The Waves ecosystem has a lot to look forward to in 2023, with projects that have the potential to change the world for the better.
The Bottom Line: Reflecting on 2022 and Looking Ahead
As we reflect on the past year, we are proud to see the progress and achievements that have been made within the Waves ecosystem despite a challenging bear market in the crypto industry. Our key projects, Waves Ducks, Waves School and Pluto have all seen significant growth and success, and the launch of the Power Protocol whitepaper has sparked excitement for its potential impact on the ecosystem.
As we move forward into 2023, we are looking forward to the continued development of these projects and the introduction of new initiatives such as the revamped USDN, The Free World, and SafeFi.
However, none of this would have been possible without the support and dedication of our community. The Waves ecosystem is built on the belief that blockchain technology has the power to create a better system for societies to function and it is through the involvement and engagement of our community that we are able to shape the direction of the ecosystem.
In 2022, we have seen 23,455 students from 28 different countries participate in our Waves School, and we have seen engagement on our Discord channel and social media channels grow. These statistics are a testament to the importance and value of a strong community in the blockchain space.
We would like to take this opportunity to thank our community for their continued support and dedication. We look forward to continuing to work together to build a truly valuable blockchain ecosystem in 2023 and beyond.