Waves lived several lives: a token platform, an exchange, DeFi, private blockchains for the state.
The physicist Alexander Ivanov, whom the whole industry would later call Sasha, came to crypto early, back when Russians still called it electronic money. On the NXT blockchain he built a service called Coinomat, where you could swap one cryptocurrency for another directly, without going through bitcoin. In 2016 he announced his own platform, Waves, on which anyone could issue a token in a minute, and sold its coins. Buyers sent him about 30,000 bitcoins, roughly $16 million. For its time it was one of the biggest ICOs in the world and the biggest Russian one. A year later sums like that would become the norm, but in 2016 people looked at Ivanov as a man who had found out where the money was kept.
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