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At the heart of Wolf Works DAO is the $WLD governance token. This token plays a vital role in the operations of the organization, as it is used by members of the community to vote on important decisions and proposals. Whether it is deciding which projects to focus on or determining how to allocate resources, members of the community use their $WLD tokens to help shape the direction and future of Wolf Works DAO. Not only does this allow for greater collaboration and consensus-building among members, but it also ensures that decisions are made in a transparent and fair manner.
The $WLD smart contract was deployed on February 7th, 2022. The token name was originally "wLitiDAO" which is why the smart contract says "wLitiDAO" even though the name of the DAO changed to Wolf Works DAO.
WLD could only be minted by depositing wLITI tokens into Wolf Works DAO's smart contract. When wLITI tokens were deposited, WLD tokens were minted at a 1-to-1 ratio. wLITI deposits were turned off on March 6th, which means that wLITI can no longer be deposited into WLD's smart contract and WLD cannot be minted anymore. The total supply of WLD when deposits were turned off is the new maximum supply of WLD. By capping the supply of WLD, it ensures that the token remains scarce and valuable over time. A total of 1,918,024,825 $wLITI was deposited into the treasury and 1,918,024,825 $WLD was minted.
There was a private sale for Wolf Works that took place on February 10th, 20022. Use of Proceeds $1,000,000 USDC USDC / WLD liquidity pool on Quickswap, expenses, Certik Audit, etc.