Volta Club, operating as a DAO, is devoted to championing crypto/web 3.0 protocols and directing its treasury resources to emerging projects. Through the adoption of advanced treasury management strategies, the organization aspires to achieve substantial capital growth, always striving to exceed market expectations.
On the 28th of August 2023, the transition from Wonderland to Volta Club heralded the introduction of a new token built using the LayerZero OFT technology. This move was taken to fortify the project's security and elevate its functionality across four chains: Ethereum, Avalanche, Fantom, and Arbitrum One.
The Multichain debacle highlighted the immediate need for this transition. The incident posed a considerable security threat to the DAO and stranded its holders within chains, rendering them unable to bridge and deploy their tokens effectively.
For those holding the now-obsolete wMEMO tokens, a mechanism has been established to transition to the primary Volta token at a fixed rate of 1:330. This transition is effortlessly facilitated through the Volta Club's app on each respective chain where wMEMO tokens reside. Once migrated, users can bridge their tokens with ease using the Volta Club app across all four supported chains.
A max supply of 1,000,000 Volta tokens has been set to cater to the migration across all four chains, and no additional tokens will be minted. To ensure the 1:330 exchange rate against the 1,000,000 Volta cap, Wonderland conducted buybacks and wMEMO tokens were intentionally burned pre-launch.
Volta Club regularly conducts market buybacks and token burns. This strategy ensures that the token's value genuinely represents the collective's accomplishments.
On the 28th of August 2023, the transition from Wonderland to Volta Club heralded the introduction of a new token built using the LayerZero OFT technology. This move was taken to fortify the project's security and elevate its functionality across four chains: Ethereum, Avalanche, Fantom, and Arbitrum One.
The Multichain debacle highlighted the immediate need for this transition. The incident posed a considerable security threat to the DAO and stranded its holders within chains, rendering them unable to bridge and deploy their tokens effectively.
For those holding the now-obsolete wMEMO tokens, a mechanism has been established to transition to the primary Volta token at a fixed rate of 1:330. This transition is effortlessly facilitated through the Volta Club's app on each respective chain where wMEMO tokens reside. Once migrated, users can bridge their tokens with ease using the Volta Club app across all four supported chains.
A max supply of 1,000,000 Volta tokens has been set to cater to the migration across all four chains, and no additional tokens will be minted. To ensure the 1:330 exchange rate against the 1,000,000 Volta cap, Wonderland conducted buybacks and wMEMO tokens were intentionally burned pre-launch.
Volta Club regularly conducts market buybacks and token burns. This strategy ensures that the token's value genuinely represents the collective's accomplishments.