Sasha’s WX DAO AMA 16/10/23
Sasha started with explaining the goals of this transition.
“The main goal that we plan to achieve is to put the governance in the hands of the community, so that there is no single beneficiary and the entire community can benefit from WX.
Many of our users complain about the still unresolved situation with the debts of WX gateways, and wonder how the situation will be resolved. It should be noted that at this point we can only resolve the situation we are facing by moving forward! That is why we are looking for ways to provide support and create a roadmap to resolve the situation.”
What can be done?
“We can provide existing tools and assets to launch WX DAO - 10 Million WX tokens will be donated to the DAO. Also, at the moment we have WXG tokens, which are currently being bought out of the market through trading fees. Our goal is to equate their price to their counterparts on centralized exchanges, after which they will be burned.”
According to Sasha, there is also an alternative option available. After buyback, these tokens can be sent locked in the treasury until their price stabilizes, after which they can be sold to the WX team for trading fees, thus providing support for WX DAO and profitability for the DAO participants.
Why participate? What are the benefits?
It already has been explained what the DAO treasury will consist of (WX and WXG tokens). If the DAO treasury grows in value, at the end of the KPI period (3 months), the participants will share 20% of the treasury income.
They will get PWR tokens just by making an investment of funds in the DAO, thus buying PWR tokens at the current market price:
https://app.power.tech/dao/3PEA2Mr8CgWXdaosBUK3TqxpWDC4MSofsYn
WX Platform Roadmap
At the end of his introductory speech, Sasha talked a little bit about the plans for the development of the WX platform itself.
“We intend to increase trading fees to speed up the buyback process of -WXG tokens. The launch of derivatives and futures markets should help us with this.
We're also working on launching synthetic tokens, which could solve the situation of tokens for which gateways are extremely difficult to create.
The PEPE team is also actively working on creating a unified USDT token.”
Q&A session
Q: When will DAO decide to sell all of its -WXG tokens?
Sasha: That decision is left to DAO participants, only they will decide when to sell their tokens.
Q: So DAO will sell the last -WXG token before burning their entire supply?
Sasha: That's right! The last -WXG token will be sold from the DAO wallet.
Q: What about the token verification process? Will it be changed in any way?
Sasha: I don't think its changes will be related to the WX DAO, however we should change some parameters due to the low price of the WX token, as it is currently possible to verify the token quite cheaply by simply purchasing WX at market price.
Q: I'm more curious if this functionality will carry over to the WX DAO?
Sasha: Definitely not in the first 3 months (KPI period), however I would like for it to happen, as it could solve a number of problems.
Q: What about the WX boosting mechanics?
Sasha: It will stay with the WX token and liquidity pools as it is not related to the governance process.
Q: How much PWR will gWX holders get?
Sasha: They will share 100 PWR tokens between them.
Q: If I make an investment of 1000 WAVES in WX DAO, what will I get?
Sasha: You will get PWR, and at a slightly lower price than DAO participants who make an investment after the DAO launch. Such users will have to buy the DAO LP token, withdraw it and only then will they be able to take the PWR from staking. It should be clarified why investing now, the price of this kind of PWR purchase will be lower. If the DAO is successful, the treasury size (and therefore the price of LP tokens) should grow, and therefore the price of buying LP tokens after the DAO launch should be higher.
Q: In what tokens will the WX DAO revenue be calculated?
Sasha: All tokens in the treasury will be taken into account when calculating the volume/revenue of the treasury.
Join WX DAO and help the treasury grow bigger for the common benefit!