Hello @everyone.

26 Jul 2023, 22:30

Hello @everyone! We have an important update and proposal – it has been a bit quiet here, but that is about to change with some exciting developments! As we know, WOOF started as a meme coin in 2021 which we have come to love, and we have all made many friends along the way! Over time the team has changed and those responsible for initially setting up WOOF are long gone. But through the passion of the community for WOOF, the NFT release, the establishment of the DAO and the elected leadership team, we have stayed strong and passionate throughout. The problem As the founders and some leadership team have left for a variety of reasons not related to WOOF, we have had some difficult maintaining access to things that we should have access to (e.g. access issues has caused us to lose our woofsolana.io domain, and we don’t have the level of access to apply for Twitter Blue for our main Twitter account). Additionally, the main WOOF founder, Akaza, has most recently unilaterally taken action to dissolve the WOOF DAO LLC, which he initially set up for WOOF. He has taken this action without our endorsement. We all know as well that times have been tough in this space for a very long time, limiting our ability to generate much income. However, the team over this time has done an outstanding job in preserving WOOF’s treasury in the circumstances – don’t forget the team is operating on a voluntary unpaid basis! The current state of the treasury in the extended bear market has also unfortunately held back our planned WOOFPACK mint. The solution Rather than trying to plug these access holes and continue to face the challenges of dealing with people that are no longer associated with WOOF, we want to embark on an exciting new chapter! Additionally, there are now more structural options for our DAO which we think are a lot more suitable for WOOF. Operating through a US LLC presents a lot of challenges and given WOOF is just really all about community and what the community wants, it really needs to be a lot easier! We see some light ahead as well (we hope!) in our space, with $SOL starting to creep up, which is benefiting our treasury given that its value is mostly in $SOL. With all this in mind, the team is proposing the following to position WOOF well for the exciting times ahead: - Establishing a new legal entity in the United Arab Emirates (Dubai) – this will come at an upfront cost of USD 6,500 (which includes the incorporation and all the legal compliance documentation we need to operate from that jurisdiction), with monthly up-keep charges of USD 150-250 (which includes all required accounting, etc). - Dissolve the current WOOF DAO and establish a new WOOF DAO falling within the umbrella of the new legal entity in Dubai – with some exciting WOOF rebranding, watch this space (see below)! - All remaining treasury is to be transferred to the new DAO within the Dubai entity. Dubai is increasing becoming the destination of choice for many crypto organisations, providing many benefits that are very well suited, including in particular the tax-free status, Dubai being a very crypto-friendly jurisdiction, and its light-touch administration. The Dubai entity will also be a limited liability company (so that any liability will be limited to the assets of entity and not its members). Operating in this space without a legal structure is not an option we can support given the many unknown risks involved. A new fresh beginning – properly managed and legitimate. This will provide WOOF with a springboard from which to launch for future success! WOOF rebranding With these exciting changes comes the chance for a new refresh – of course we are not proposing anything that disrespects our WOOF roots! In the new structure and rebrand we will still be utilizing $WOOF and other WOOF products (such as the WOOFers). The idea is to take these to the next level!

Same news in other sources

WOOFWOOF #1795

26 Jul 2023, 22:35

So what is changing? We are proposing that the new DAO will have a new name and brand to go with it. This will include new socials, new website domain, etc. We will still be using our existing Twitter account to spread the word. WOOFPACK will also be launched under our new rebranding – and we have exciting plans for this mint – watch this space! What are the benefits? The benefits of having the new entity in Dubai is already presented above. One of the main benefits of the new DAO structure as a whole is that we want it to work in a much more transparent fashion and encourage all DAO members to have their say in the future direction of DAO with dedicated open channels for community members to brainstorm ideas with each other and the team. WOOF is for the community – always has been and always will be – and it is time for the community to step up to take ownership and help guide the direction of this project we all love! We all know that $WOOF is the most unique meme token in Solana. We have withstood these challenging times, and we present the platform for our future success and community engagement. With this we hope that $WOOF can soon be taken to new heights, attract new members, and of course be top dog! We hope that you will all get behind this proposal – a chance for liberating and exciting new beginnings! The team is happy to address any questions or feedback you may have in the DAO channels. WOOF WOOF

So what is changing. We are proposing that the new DAO will have a new name and brand to go with it.