Wanchain AMA with Temujin Louie and Jack Lu — Recap
A full recap of the recent Wanchain AMA held on 2024/02/28
Host: Liam, Wanchain Community Lead
Participants: Temujin Louie, Jack Lu
Summary
We recently held an AMA with Temujin Louie and Jack Lu on the official Wanchain Telegram chat, where Tem and Jack announced some important updates for the future of Wanchain. Get caught up with the recap below!
Statement from Jack Lu
Since the start of the project, Wanchain has established itself as a true pioneer of the industry. Over the years, our vision of blockchain interoperability has been proven correct and is now accepted industry-wide. While there have definitely been ups and downs, Wanchain is currently well positioned to continue to grow.
Today, the Wanchain Bridge is nearing 1 Billion dollars in cross-chain volume while operating at all-time-highs by just about every measure. Our XFlows protocol in particular has done wonders for adoption. We’ve also continued to distinguish ourselves by tackling difficult interoperability problems like connecting EVMs and non-EVMs. Of note, our bridges to Cardano have opened up a whole world of possibilities for Wanchain and serve as a template for future growth. Our ongoing collaborations with industry giants like Circle also signal Wanchain’s health.
As Wanchain continues to navigate the ever-evolving blockchain landscape, I believe the time is right for a new leader to step in and guide the project into its next phase. As such, it is with great appreciation that I am announcing that Temujin Louie, previously our VP on Marketing, is taking over as CEO. I will transition to an advisory role.
Before we get to specific questions, I want to take a moment to say that I’ve been very grateful for the opportunity to lead the Wanchain project. We are lucky to have some of the industry’s most exceptional developers. I also want to thank every single one of you for believing in our vision for blockchain interoperability. The future is extremely bright for Wanchain.
Liam: Thanks Jack! I’m sure I speak for everyone when I say that you have really built something amazing in Wanchain. It is without a doubt the industry’s premier interoperability protocol. You should be very proud. Now, with that out of the way, let’s get started with the questions!
1. Why are you stepping down, what led to this decision after all these years with Wanchain?
A: I am immensely proud of everything that we’ve built with Wanchain. The journey has been an incredible one filled with challenges, successes and growth. I’m particularly proud of the fact that we’re one of the few projects from the 2016/2017 era that is still around and are one of the only projects to have delivered everything we set out to in the original whitepaper. It was always extremely important to me to deliver on the promises we made to the community all those years ago and I take comfort in knowing that we did.
With that said, after much reflection, I have come to the realisation that a strategic shift is necessary for the continued growth and success of Wanchain. The blockchain landscape is evolving rapidly and it requires a fresh perspective to bring Wanchain to the next level. I firmly believe that Temujin is the ideal person to lead Wanchain into the future. — Jack Lu
2. What immediate changes can we expect now that you’ve transitioned to an advisory role?
A: For the first year or so, there shouldn’t be any major noticeable disruptions. Wanchain is a pretty well-oiled machine at this point so there won’t be any impact to our development calendar. In addition, I’ve been working very closely with Temujin this past year to make sure that he is ready to take over this position. — Jack Lu
3. Tem moving from VP of Marketing to CEO is a big change. Do you trust him to lead Wanchain moving forward?
A: I have no doubt that Temujin is the right person for this job. Not only does he bring a wealth of experience, he has proven himself over the past several years with his dedication to the project and his work ethic. In fact, his influence on the project can already be felt at all levels. He also has a deep appreciation for blockchain interoperability and the role that Wanchain can play. It’s clear that the Wanchain community has connected with Temujin as one of the primary forward-facing members of the team. There was really only one person for this job. — Jack Lu
4. What can we expect for the future of the project after you transition to an advisory role?
A: Temujin, as CEO, will be charged with determining the future direction of the project. However, Wanchain has always been a collaborative project and I don’t expect that to change. The drive towards blockchain interoperability is also core to Wanchain’s DNA. So, while I’m sure Temujin will prioritise different elements and endeavours, the core of what Wanchain is won’t change. — Jack Lu
5. What work have you been doing behind the scenes?
A: In addition to my regular duties, I have been ensuring that Wanchain is well positioned to grow. My vision was always for Wanchain to become a truly decentralised, community-driven project — while we aren’t fully there yet, I’m confident that the project will thrive with me transitioning to an advisory role. — Jack Lu
6. By transitioning to an advisory role within Wanchain, how active will you be in the development of the project moving forward?
A: There will naturally be a transition period. This will last many months. However, the goal is for my day-to-day involvement to decrease over time. I will remain closely connected to Wanchain in order to support Temujin and the team to the extent that they require. — Jack Lu
7. How did the rest of the team react to your decision, is everyone behind the scenes happy with this decision?
A: Of course, news like this is bittersweet. Wanchain will always hold a special place in my heart. However, in speaking with the team, everyone understands my decision and agrees that Temujin is the best person to take over as CEO. We’re all excited about the future of Wanchain under Temujin’s guidance, and we expect Wanchain to continue to thrive and benefit from his vision. — Jack Lu
8. How many people are still working for Wanchain, and how many devs are still on the team?
A: There has been no significant changes to our personnel. All the team leaders are still in place. Overall, there are approximately 40 people working for Wanchain. — Jack Lu
9. Does Wanchain still have enough funding to continue development well into the future?
A: Yes. Wanchain is in great shape. We still have many years of runway. All project funds remain in place and are available to promote the long-term growth of the project. — Jack Lu
10. As a man with many ideas, and having started multiple crypto projects up until this point, will you ever move on to create another project, or will Wanchain be your last?
A: I expect it will be my last, at least in terms of this level of involvement. — Jack Lu
11. Will you still interact with the community from time to time to say hello and see how things are going?
A: I will still be around in an advisory capacity, but this will be behind the scenes. I think it is important to give Temujin and the rest of the team the necessary room to flourish. — Jack Lu
Liam:
Thanks for your time and your answers Jack. Any final thoughts you want to share with the community?
I want to take a moment to thank all of you for your support. It has been a privilege to build Wanchain into a project that we are all proud of. The Wanchain community is the heartbeat of the project and I am confident that many successes and achievements lie ahead for Wanchain. I have full confidence in Temujin’s capabilities to guide the project in the years ahead and am certain that Wanchain will thrive under his leadership. — Jack Lu
Liam:
Thanks again, Jack! We appreciate you taking the time to chat today. We’ll now move on to some questions for Tem. But first, anything you’d like to say before we get started?
Thank you Jack and Liam! Over the past few years, I’ve had the pleasure of getting to know many of you in the community. One thing that has been abundantly clear from the start is just how special Wanchain is. It’s been a privilege to represent you all as VP of Marketing, and I am extremely excited to do the same as CEO.
Let me share a few thoughts about the future.
A big theme for us moving forward will be Unification. We will unify the various components of the Wanchain ecosystem so that the whole functions as a synergistic whole. When the bridge does well, it will benefit the L1. When the L1 does well, it will supercharge our cross-chain products like XFlows. We, of course, will keep unifying the industry’s isolated networks — both EVMs AND non-EVMs. And we will also be more aggressive in establishing common interoperability standards with our industry partners so that blockchain can truly reach mainstream adoption.
I want to reassure all of you that we will preserve the elements that have enabled Wanchain to become the longest-running blockchain interoperability solution. We will remain committed to security above all else, while marching towards an industry-wide interoperability standard to create a unified network of blockchains to onboard the next billion to Web3. All while unlocking value for the entire Wanchain ecosystem. — Temujin Louie
Liam:
Thank you for that. Now, to the questions!
1. As CEO, what changes can we expect with the VP of Marketing role? Will there be a new hire to take over as marketing lead?
A: Thanks Liam! It definitely won’t be feasible for me to handle both the CEO and VP of Marketing duties. The search for a new Marketing Manager is already well under way. We’ve also engaged a new Marketing Agency to make this transition as smooth as can be! — Temujin Louie
2. As many from the community have said, you have been an excellent addition to the Wanchain team. Are you ready to take the wheel and lead Wanchain into the future?
A: Absolutely! I think it’s been quite clear to everyone that I am a big fan of the work we’re doing here at Wanchain. Blockchain interoperability is vital for the mainstream adoption of blockchain technology and I’m honoured to be part of a team and project that is playing a leading role in getting us there. There’s no doubt that this new role will be challenging, but I’m looking forward to the opportunity to make Wanchain everything it can be. — Temujin Louie
3. How is your relationship with the rest of the team? Are you confident that you’ll be able to lead the various departments within Wanchain?
A: Wanchain has an amazing team. While there are various departments and teams within Wanchain, the project has always been collaborative. Wanchain has never been an overly vertical organisation, and one of my goals is to preserve this horizontal hierarchy during this transition period. Jack has done an incredible job building a project that can continue to thrive even without him steering the ship. — Temujin Louie
4. This big change will come as a shock for most. How can you reassure the community that the core functions of Wanchain will not change? Can we still rely on the team to accomplish what it has set out to do?
A: Everyone at Wanchain is a true believer in the need for blockchain interoperability — myself included. Our security-first approach to building won’t change. Rather, I will focus on building out the other elements of the project that are in need of improvement. Along these lines, beyond tech development, we will also become a more global brand with greater visibility in Europe and other major western hubs. — Temujin Louie
5. We all know communication between the team and the community is important. Having someone from the core team active within community conversations to address concerns and discuss products has been great since you joined. Will you still have time to chat with the community directly?
A: Absolutely. As Jack mentioned, we want Wanchain to eventually become a community owned-and-led project. We’re still a long ways away from true community ownership, but we will continue to move in that direction. I will be just as present in the community tomorrow as I was yesterday. — Temujin Louie
6. Will there be some sort of rebrand after this big change within the team?
A: There are certain improvements, such as the new UI/UX for the bridge, that are just around the corner. However, in terms of a full rebrand, it’s something that we’ll talk about with our new marketing manager. — Temujin Louie
7. Can we expect some more aggressive marketing efforts in future? We need to get the Wanchain name out there with the other big players. With a new face for Wanchain, this is the perfect opportunity.
A: Our marketing has gotten better over the past couple years, but there’s still lots of things to improve. Of note, we need to increase our visibility in Europe and other major western hubs. This will make it far easier for us to reach new audiences. We’ve already started making progress on this front, but Wanchain needs to become a more global brand.
I think that it’s inevitable that my new role will have an impact on our efforts here. However, security will always be the project’s primary consideration, and we won’t sacrifice security for growth. So while marketing will continue to improve — and I expect it to improve drastically — we won’t sacrifice our long term health for a short term blast. We are building with the future in mind. — Temujin Louie
8. CEOs attending events is important to build relations and connect with other projects. Can we expect more exposure for Wanchain since you are taking over the lead position. In other words, will you be attending more events, taking part in more activities within the broader crypto ecosystem, doing more interviews, etc?
A: The short answer is yes. I’ve been quite active these past couple years both in terms of attending events and participating in interviews. Our event calendar continues to grow and I’ll participate in as many interviews as I can. — Temujin Louie
9. 2024 has already proven to be a big year for this industry. How will Wanchain capture the momentum, and what will Wanchain’s main focus be after you take over?
A: The theme for 2024 and beyond will be Unification. In addition to continuing to build out our blockchain interoperability stack, we’re going to unify the various components of the Wanchain ecosystem so that the whole thing — the bridge, the L1, the community — can all exist as one synergistic whole; a unified system where the benefits of one is shared with the others so that everyone can grow together. — Temujin Louie
10. What sort of developments can we look forward to in the next couple of months?
A: We’re obviously going to keep integrating more and more chains: L2s and major EVMs to support the growth of XFlows, but also many non-EVM chains like Solana.
We’ll also soon be formally revealing our cross-chain message passing protocol, as well as launching Bridge Fees.
We’ve got lots of other things in store, but I don’t want to spoil it all right off the bat! — Temujin Louie
11. The Wanchain Bridge is doing well, but so far it does not really directly benefit the entire ecosystem. We know we can stake and earn rewards, but can we expect some more developments in terms of WAN utility? How will the bridge benefit the community and node operators in the long term?
A: Like I mentioned, we’re working hard to unify the various components of the Wanchain ecosystem. As you rightfully pointed out, the Wanchain Bridge is doing as well as it ever has. So we’ll soon be launching bridge fees that will benefit the entire ecosystem. All the fees collected by the bridge will be converted to WAN and divided into various pools for specific purposes. A portion will be put in a community treasury, another will be used to incentivise nodes in perpetuity, another will be burned, etc.
We’re already investigating other mechanisms and product upgrades to unlock additional utility for WAN. Basically, as we continue to unify the Wanchain ecosystem, everything moving forward will unlock utility and create value for the whole ecosystem. — Temujin Louie
Liam:
Thanks for taking the time to answer all those questions, Tem!
We’d like to thank the community for their patience while we got through some important questions and answers.
— End of AMA —
Link to AMA on Telegram: https://t.me/WanchainCHAT/1069794
About Wanchain
We are all connected — Wanchain, the Wide Area Network chain, is the world’s premier decentralised blockchain interoperability solution. Our mission is to drive blockchain adoption through interoperability by building fully decentralised bridges that connect the world’s many siloed blockchain networks. This cross-chain infrastructure empowers developers to build truly decentralised cross-chain applications to power the future of Web3.
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