Sasha Ivanov, CEO of the WAVES Platform, revealed the latest WAVES decentralized exchange interface in a Slack Q&A session. The WAVES community seemed to be very happy with what they saw:
— Ben Fresh (@bag_holdr) 2 November 2017
The beta is said to be available on November 20th for all the test. The interface (GUI) with the dark background that was revealed in the past is said to be the old GUI, however, Sasha did mention there may be a dark option in the upcoming GUI.
After a recent hiatus in slack, most likely due to a packed schedule for the WAVES CEO; Sasha answered many questions about the WAVES platform.
Bitcoin Cash Airdrop
Yesterday, it was announced that Bitcoin Cash would be airdropped to WCT holders and determined by how much is held. According to Sasha, these airdrops will come in batches, starting next week with 1000 BCC being planned for the first airdrop. Sasha did also indicate that WAVES holders may receive some BCC too.
Sasha indicated that the British Pound and Japanese Yen are two fiat pairing that is “doable”. The closest to completion is, however, the Turkish Lira with the Waves user named “srknbyr” stating,
“We are working on Turkish Lira Gateway, we are now the official company and we have deals with 6 Major banks in Turkey. On 11th of November, we will have a meeting with Waves Team in Moscow. Stay Tuned for Turkish Lira Gateway. www.digilira.com.”
He did, however, state that getting a Yuan gateway is difficult at the present time.
Sasha also made a general announcement about more alternative coin gateways stating: “if there are people from dash, monero communities here please reach out to me. We’ll do the gateways”.
While there has been some PR for WAVES, like Forbes articles, CNN appearances and other bits and pieces, there were still concerns about getting the WAVES brand out to the public. However Sasha reassures us that,
“We have big marketing budgets, close to 100k per month. We’ll market [WAVES] NG and new interfaces heavily once they have been launched.”
Generally speaking, it did seem as if the PR so far is only a fraction of what is coming, in that the PR will kick off once the new decentralized exchange GUI is officially online and WAVES NG is fully implemented. This seems like a wise decision, as WAVES NG purpose is to prepare for more volume.
Waves have had a hard time with exchanges, however, Sasha made reference to three exchanges. First, he stated that Waves will be added to Binance, a new Chinese exchange with a huge volume. Kraken, he states, “has some internal things in the works”. Lastly Tidex, he states, is about to make a major announcement. Tidex, along with Yobit, has been consistently topping Waves volume in the past few months.
Tokenomica and Self-Regulation
Staying compliant appears to be important for the Waves team, and in the Q&A it was evident that there will be layers of regulations. Tokenomica will be the first layer, where startups have a framework to comply with legal bodies, according to the Tokenomica website,
“We’re developing a centralized platform, Tokenomica.com, which is going to work on top of the Waves blockchain, and provide 100% compliant legal framework for different types of token crowdsales, including private equity crowdsales. We’re working with top legal firms on this, and we are pleased with their commitment and interest in this new emerging business. Blockchains are becoming mainstream, and the feedback we get from legal companies is really encouraging.”
This is the first layer, to legalize ICOs before the crowdfunding process. Once this is established, the “self-regulating” part kicks in; the second layer. The WCT token will be a key role, as holders vote on complement and safe ICOs; a process which will likely see money following into more legitimate ICOs rather than fake/scam ICOs. According to Sasha, fake ICOs are still allowed to be created, however, the two layers are to phase out these fake/scam ICOs with more compliant ICOs that will most likely have a higher vote ranking.
According to Sasha, “Compliance is the key to success now and of course, we need to do the vetting process as decentralized as possible.” The system in the past to put a green tick next to legitimate tokens was, according to Sasha, worrisome as investors may have thought the Waves team are vouching for some projects and not others.
Other Bits and Pieces
For investors in previous Sasha assets sitting on the NXT blockchain, like Cryptofund and Coinomat, Sasha stated that there is still plans to migrate and it will likely be connected to a Waves fund; “it just has to be done in a correct way, from legal point of view.”
Sasha also indicated that they had “several other partners” in Russia, however, they are waiting on new regulations in Russia before moving forward. With rumors of the Russian Government possibly creating a “CryptoRuble”, it is indeed a good idea to wait in order to see the cryptocurrency landscape after the dust has settled. Sasha also stated they participate in the discussions, as well as Belorussia and Kazakhstan.
In response to some gateways transactions taking up to a week to send, most notably USD and EURO, Sasha stated: “You have to go through KYC and AML, so it takes time when you do the first transfer, then it’s faster.”
Although the Waves team is most likely concentrating on the new decentralized exchange and Waves NG, Sasha did say this about smart contracts, “smart contracts will be implemented in stages. First, we’ll have low-level smart contracts (multisig, oracles, and such), and then more high-level structures, turing complete”.
With the recent sell-off in the altcoin markets due to traders moving into Bitcoin to catch a cluster of hard forks, the was Q&A was good timing to reassure investors. Despite the price, Waves has much to look forward too, with the new interface for the decentralized exchange and Waves NG for faster and more transactions. One aspect of Waves that has been lacking was the communication, however, Sasha has vowed to do a weekly Q&A from now on Friday nights.