The Waves founder’s tweet surprised many. Frankly, Sacha Ivanov declares that Waves does not need a futures market. He even goes so far as to call it “fertile ground for FUD” (fear, uncertainty and doubt), which means fear, uncertainty and doubt. In this sense, therefore, he asks the CEX to deactivate the Waves futures markets.
Waves doesn’t need a futures market
In his tweet of December 21, Sacha Ivanov emphasizes two essential points. On the one hand, he states that Waves has no need for a futures market. On the other hand, he argues that futures contracts only lead to a general feeling of pessimism around a token.
To lead by example, the CEO of Waves even goes so far as ask CEX to turn off futures markets digital asset. Some of the big names in crypto exchanges cited on his tweet include Binance, Kraken, Huobi, and OKX.
An approach that is not trivial
For many, the tweet of Sacha Ivanov follows the rather considerable fall of the Waves tokens. Statistics show a 40% drop in the past two weeks. This equals between $2.37 and $1.54. For the CEO of Waves, the drop in prices results recent warnings from DAXA.
Same case for the USDN which is currently trading at around $0.51. It is the algorithmic stablecoin of the Waves ecosystem. To remedy this situation, the CEO of Waves announced on December 20 on Twitter the launch of a new stablecoin more suited to current conditions. “It will be easier to stabilize the USDN first and launch the new protocol afterwards,” he said, without giving further details.
Following the drop in price of the Waves tokens and the USDN, its founder chose to discard the futures markets. But is this the right solution? And above all, will the CEXs follow him in this process? We will know soon enough. In any case, Sasha Ivanov’s approach raises a number of debates within the crypto community.
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