Burn 210 Million WELL and Reissue 210 Million WELL on the Bitcoin Blockchain(1 of 2)
Proposal Summary
To align with FomoWell’s strategic direction in the Bitcoin ecosystem, it is proposed to burn 210 million WELL and reissue an equal amount of 210 million WELL on the Bitcoin blockchain through FomoWell. The newly issued WELL will be used for community fundraising, centralized exchange listings, as well as user airdrops and ecosystem incentives.
Proposal Background
FomoWell’s core development direction is now clearly focused on the Bitcoin ecosystem, with the goal of becoming an important infrastructure for Bitcoin asset issuance and trading. By issuing WELL on the Bitcoin blockchain, the platform’s core asset can better align with FomoWell’s Bitcoin ecosystem strategy while providing a clearer framework for future ecosystem development.
**Proposal Content *
Burn 210 million WELL.
Reissue 210 million WELL on the Bitcoin blockchain through FomoWell.
Rationale
- Align with the Bitcoin ecosystem strategy
FomoWell is building infrastructure for Bitcoin asset issuance and trading. Issuing WELL on the Bitcoin blockchain enables the platform’s core asset to align with the ecosystem direction. - Support the community fundraising plan
The new WELL issuance will provide a more transparent and clearer foundation for future community fundraising. - Prepare for centralized exchange listings
This will help meet the requirements of centralized exchanges for tokens and prepare for future listings. - User airdrops and ecosystem incentives
A portion of WELL will be used for community airdrops and ecosystem incentives to reward early users, community contributors, and platform participants, promoting ecosystem growth.
This proposal was created using https://ic-toolkit.app