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Shiba Inu’s Welly Transfers First Set of Community Rewards in ETH to Wallet

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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.

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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.

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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.

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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.

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

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