Wadoozie launched its Ethereum ERC-20 token, $WADZ, on Uniswap on May 27. The company disclosed that this offering did not include a pre-sale, whitelist, or private sale, and there was no transaction tax. An offline roadshow kicked off on the same day in Austin, Texas, USA.
75% of the supply is locked in liquidity pools
The company disclosed that the project initially minted 2 billion $WADZ tokens, of which approximately 1 billion were burned upon launch, leaving an actual circulating supply of about 1 billion. 75% of these were locked in liquidity pools paired with ETH and governed by the DAO; the project stated that this liquidity cannot be withdrawn by individual or team wallets.
Regarding token allocation, 7% will be used for the creator payment network, 5% for the offline event reward pool, and the team's share will be 3%, with a lock-up period of 12 months. The project also stated that contract permissions have been relinquished.
A simultaneous tour of 48 states was launched.
Wadoozie is linking the project narrative with offline events, planning a tour across 48 states in the contiguous United States, divided into eight phases. The first stop is Austin, the final stop is New Orleans, and there are plans to travel to Europe afterwards.
According to the project description, after the touring vehicles arrive in each state, they will drop 7 entities called "Signal Fragments". These include 1 Legendary, 1 Rare, 1 Uncommon, and 4 Common. Users can exchange these for a fixed amount of $WADZ on the blockchain.
- Legendary can be redeemed for 461,250 $WADZ.
- Common can be redeemed for 15,375 $WADZ.
- A total of 576 fragments were deployed across 48 states.
The project states that this part of the activity will distribute approximately 34.7 million $WADZ tokens to community participants.
Audit and Issuance Structure Disclosure
The company disclosed that the project passed audits by CertiK Skynet, Coinsult, and SolidProof before its launch. Current information indicates that Wadoozie is attempting to combine on-chain token issuance with offline tours and in-kind rewards to expand community engagement.
Additional information:The token structure, lock-up arrangements, and reward mechanisms described in this article are all based on information disclosed by the project team.
