WX.Network
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WX.Network

RECAP: AMA with Sasha

Shortly before the recent launch of a full-fledged governance system on Waves.Exchange, Sasha Ivanov shared with the community some plans and answered various questions in an AMA session.

Sasha stressed that the Waves.Exchange team is currently working hard on finishing a comprehensive token governance system.

“We’re in the final stage,” he said. “Eventually, pool governance will make it possible to vote for pool inflation and for LP providers’ investing in custom pools to collect rewards in WX, similarly to how it is done on Curve.”

By the way, you can check out about full cycle token governance or .

“A full-fledged token platform will enable users to do all processes that can be done with the token in two clicks, from a token’s launch to getting it verified by voting and running a pool with the token to do automatic market making for it through the orderbook in a combination of decentralized exchanges and DeFi,” he went on to say, “This will be especially appealing to big projects.”

According to Sasha, Waves.Exchange is scheduled to undergo rebranding and get a new design, while the next trading tool to be launched on the exchange will be decentralized futures, a transparent instrument enabling users to avoid manipulations they are faced with on centralized platforms.

Meanwhile, mass adoption remains high on the agenda.

“We’re moving forward, as it’s mostly connected with full governance for tokens, which helps people to be closer to crypto, in a cheaper and faster way than on Ethereum,” he said. “The main goal is to bring only good projects through decentralized voting and a proper DAO.”

Regarding listings and IDOs on Waves.Exchange, Sasha explained, “We will be mostly focused on ILOs, as creating an ICO platform requires more time, and a procedure for project verification needs to be developed. We want to have only serious projects on Waves.Exchange, plus, all of them should be controlled by the community through Waves.Exchange governance.”

When it comes to WX listing on other exchanges, Sasha noted that the team is working on that but it’s not a top priority. “We want to see more users on Waves.Exchange first,” he said. “We’ll start listing after full governance is launched. WX will be used in derivatives. More WX pools are planned in the future and you’ll be able to vote for any.”

Answering a question about how the team’s 15% of WX stash is distributed, Sasha explained that it is distributed to the team according to KPI goals, with small quarterly bonuses that could be claimed daily in small portions.

Sasha also revealed a few details related to Waves.Exchange’s role in upcoming Waves 2.0.

“We’re working on scaling the blockchain and making improvements to existing technology,” he noted. “And our main goal here is to be different, we do not want to copy any of the existing blockchains. Waves.Exchange will take a central role as an integral part of the entire system. We plan to add AVM, as well.”

Speaking about a recent depeg of Neutrino Dollar (USDN), Sasha stressed that it didn’t affect the Waves.Exchange roadmap. “We’re still sticking to our plans, but a bit out of time,” he said. “Some milestones are reached more slowly.”

“What’s more, we are working on a mechanism allowing USDN to be always pegged, and after realizing it, synthetic assets are going to be developed by the end of the year, and USDN will be listed on other exchanges,” he added.

Meanwhile, a detailed explanation of why USDN is different from UST/LUNA is available in.

Sasha also touched upon the issue of KYC. “We’ll do our best not to adjust it or do it decentralized, but it can be substantial for some products in the future, like gateway services that will depend on the regulatory climate,” he explained.

Finally, Sasha discussed two of the ecosystem’s other tokens, NSBT and WCT.

“NSBT is unable to resolve recapitalization problems when WAVES’ price is down, that’s why a new recap token will be reasonably created to do this task. Both tokens can coexist in harmony, where NSBT holders will have all the privileges they had before,” he said, adding that WCT will be used in an upcoming DAO platform.

Thanks to our active community for questions and support!

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