2023-06-30 15:38:00
Feature 19 has been activated, and the XTN buyback will commence in a week! Thank you #Waves community!
During 2022, Waves faced significant challenges due to the de-pegging of the USDN stablecoin. Many projects on the Waves platform were adversely affected, resulting in a liquidity crunch and users' funds being stuck. We are still dealing with the aftermath of these events, and my primary focus is on revitalizing the ecosystem.
Despite the negative circumstances, we are making progress as an ecosystem, and I am particularly grateful to the Waves miners and pools who recognized the long-term benefits of Feature 19 and voted in favor of it.
Under Feature 19, two $waves from each block reward will be allocated for the $XTN buyback, while another two $waves will go to the Waves DAO. The XTN buyback is crucial for addressing the issues caused by its depegging. XTN is not intended to function as a stablecoin; rather, it should operate as an index asset. By buying and burning excess XTN, we can effectively implement this ecosystem index functionality. Furthermore, this process will allow users with XTN holdings to eventually exit their positions and recover their funds.
The two $waves allocated to the Waves DAO in each block are of utmost importance for Waves' future. Waves has emerged as one of the most decentralized ecosystems in terms of token distribution. Now, with the community determining the allocation of DAO funds, Waves is achieving complete decentralization in terms of governance. The Waves DAO is launched on the http://power.tech platform, which offers a unique approach to DAOs based on measurable KPIs and a skin-in-the-game approach that promotes accountability among decision-makers.
The time has come for Waves to become fully decentralized, governed entirely by the community, and transparent. As the founder of Waves, my sole objective is to make this vision a reality, while also advancing Waves technology through the Waves 2.0 network, which will serve as the technical foundation for all our endeavors.
Onward to the center of the Galaxy!
663 views12:38
W
