We're working on revitalizing the Waves ecosystem. If you've been following Waves, you're probably aware that we faced a lot of challenges in 2022, and we're still dealing with their aftermath. We want to give you a clear overview of how we're addressing these issues. Our primary focus is on resolving the situation with the funds locked in the vires.finance lending platform. These funds are backed by a stable coin whose value has essentially crashed, and we need to ensure that the locked funds can be released. To achieve this, we're taking several steps: • We're using 1/3 of the $waves inflation to buy back XTN tokens, but there's no set time limit for this process. • Also XTN tokens are being bought back from the market and burned using XTN treasury funds. • If you have XTN in vesting on vires and your account is valued at less than $750k, you can gradually withdraw it. For those with Waves holdings in the Vires v1 market, we're offering a swap rate based on the market price of XTN. This allows users to receive their funds in batches at a 1:1 ratio. For stable coin holdings, the swap rate is 1 USD = 1 XTN. The overall daily swap limit is 200k XTN. Additionally, you can choose to exit Vires positions by swapping to L2MP tokens, which are mining tokens for the upcoming Level 2 network built on Waves. You can perform this swap without any restrictions on rideonwaves.io or vires.finance. The Level 2 network is set to launch in early 2024. Right now, swapping to L2MP offers high staking rewards, with 30% of tokens reserved for this purpose for the next three months. After that, you can still swap locked vires funds and XTN into L2MP, but without staking rewards. We're also addressing the issue of de-pegged old gateway tokens on waves.exchange. Currently, we're buying them back using WX fees with the aim of restoring the peg and allowing users to convert them at a fair price. The success of this process depends on increased trading volumes, which we anticipate with the launch of WX DAO and upcoming derivatives/synthetics products. To enhance communication, we'll be providing regular weekly updates with real-time statistics, including XTN/WXG burn rates, from now on.

We're working on revitalizing the Waves ecosystem. If you've been following Waves, you're probably aware that we faced a lot of challenges in 2022, and we're still dealing with their aftermath. We want to give you a clear overview of how we're addressing these issues. Our…

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WX DAO snapshot and $pwr distribution on Wednesday. still have time to lock your $wx