Valley team announced that the first batch of community rewards has been sent to the Doggy DAO Wallet – the amount of 37.5 ETH worth $58,511.25.
We want to inform you that 37.5 ETH has been transferred to the Doggy Dao wallet as promised in our roadmap.
We decided to send it to them and publish it for transparency.
Thank you always for your trust 🤝🏼
Welly loves you ♥️https://t.co/0b5PiePLAT
— WELLY 🍔 (@wellyfriends) July 22, 2022
After announcing a partnership with Shiba Inu, Italian fast food restaurant Welly’s underwent a complete rebrand in February. As a result, the Shiba Inu themed burger joint announced “full” 15% ownership of the Welly Company by the Shiba Inu community.
He said it percent will cover income from all Welly activities and will be collected in Welly’s Shiba Wallet. The Shiba Inu community, or “ShibArmy”, will control the use of funds for incineration or other purposes through the Doggy DAO.
— pb5_five (@pb5_five) July 22, 2022
Here, Welly community members will be able to make important decisions about the future of Welly: from new locations, new menus and ways to spend or receive accumulated rewards, to giving away NFTs to holders, rewarding employees of the company or burning SIBs.
Welly also set aside 10% for bounties and burns beyond the 15% “wholly” owned by the SHIB community. Here, he commits to burn 2%, which he says would be more of a treasury, allowing the community to burn more than the 2% allocated through the DAO.
Welly is looking to expand
In early July, Welly, a shiba inu-themed general updates about their upcoming next DAO (Decentralized Autonomous Organization) store and collaborations with major brands. As for the location of its next store, the company said it is considering Milan, where it is currently located.
News and progress in #wellyfriends World
We work very hard to find stores in major capitals. We are currently very mobile in Milan. Thus, this is our main option.
— WELLY 🍔 (@wellyfriends) July 2, 2022
As for the DAO, he reports ongoing work that could be completed in a month or two. He is also currently reviewing franchise applications as he weighs his next steps with major brands. This is based on his determination to strengthen his brand.
Credit : u.today