Active World Club DAO LLC ("AWCDAO") was formed in Wyoming to better prepare our current Web3 and crypto projects for the coming regulatory changes and requirements. Wyoming Bill 38 laid the initial legal ground work for operating a decentralized autonomous organization in the state. For our projects the structure allows us to make potentially necessary filings to comply with changing regulatory requirements. It also fulfills two of our earliest goals, decentralization and democratization. The mandate of the AWCDAO will be to follow a business development company model that promotes and develops the future of Web3 and the internet of things. Through the management and development of portfolio companies and investments the AWCDAO will look to distribute 90% of profits to its decentralized liquidity pools. There are a total of 100,000,000 AWCDAO tokens created for the utility of proposals, voting, and transfer on the ethereum blockchain. After reviewing initial comments on the proposed swaps for existing project utility tokens and nfts the initial contemplated terms will be adopted. AWCDAO token will be set at $1.75. The mandatory swaps will be AWB at $1.00, FOTC at .00001 , AWBT at market, Carbon at market (as priced on AWCx) The voluntary swaps will be available for a limited time AWRT at .00001 , MadHat at market (as priced by coingecko.com) USHX at market (as priced on AWCx). Project NFTs will also be subject to mandatory and voluntary swaps to be announced by Friday. MadHat and AWRT will continue utility and market development as core projects of the AWCDAO along with several other projects, tokens, investments, and related developing Web3 technologies. The roll out strategy for the AWCDAO calls for the Wyoming entity to be PCAOB audited as part of the future filing and compliance strategy. The timing of swaps will be announced by Friday.
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