Dear Esteemed Members of Our Community,

In these challenging times, we have all faced trials and tribulations. It is heartening to see the array of ideas blossoming within our community, aimed at reigniting our collective spirit. While these ideas are commendable, it is essential to ground them in practicality. I am focused on helping to ensure our community's resilience, but for us to move forward, there will need to be changes and concerted efforts in several key areas:

Establishing a Legal Foundation:

Incorporation:

We need to potentially incorporate our community to provide legal security, enhance our credibility, and open doors to more opportunities, such as partnerships or contracting Chads in the future. Incorporation may come with additional complexities and costs, which is why it is something that I need to finally start exploring the viability of with the right lawyer and accountant.

Legal Advice:

Since the inception of our community, we have been operating somewhat blindly, and for it to continue, we need, and it has been mentioned previously, legal counsel in order to navigate the complex legal landscape and ensure compliance, while safeguarding the community’s interests. It is important for us to know what is and is not possible if there is to be any continuity and it is important that it is based on professional advice and facts.

New Terms and services:

For us to continue, there needs to be alignment amongst ourselves, not only psychologically, but also in the terms of engagement. For this reason, it is important that new terms of services are drafted which will reassert the guidelines of WSC operations, the possibilities, limitations, member responsibilities, etc. which will help us create a more transparent environment while also ensuring that all our expectations are aligned. The terms of Services which will be outlined can be found below, in the “Aligning Community Goals and Expectations.” and represent the same terms that have been outlined in the white paper.

Aligning Community Goals and Expectations:

The purpose of this announcement is therefore to clear any confusion that seems to linger, even if everything below has been outlined in the white paper and then continuously repeated within the community. The two points below are crucial for everyone to be on the same page for us to move forward cohesively: • We are not an investment vehicle and cannot offer assured returns. Understanding this reality is fundamental to our continued operations and the sustainability of our community. • Active participation is the key to our success, more importantly, it is the key to making any potential financial gain from this community. There are no passive gains, even the gains in the stock market are reliant on the work of others. Within WSC, any gain that may arise will be the product of active participation: this involves proposal sharing, due diligence based voting, and effort in fostering a dynamic and engaged community. The new terms of services, which will be drafted with legal assistance, will ensure that, although it has been previously communicated many times and shared within the white paper, this reality is once again communicated, reasserted, and most importantly, detailed with the different edge cases, which may arise in the future, thus aligning our community’s vision and operations. This is a non-negotiable.

Use of Treasury Funds:

It is imperative to clarify that the treasury cannot be utilized to provide passive individual returns, as this would constitute a securities offering. The purchase of a Chad NFT provides the right to a holder to make a proposal on the treasury and therefore provides one with the benefit of being able to act on their belief with higher monetary amounts, without the downside of potentially taking additional personal risk. Anyone who is in this community because they expect that they can check back every few months and receive airdrop of tokens is welcome to floor their Chad and leave. This has been communicated before, but is communicated once again to ensure that only Chads that want to take destiny in their hands remain.

Legal Profit Making:

As a follow up to the above, to legally generate profit for oneself, as mentioned above and in the past, members can submit governance proposals, effectively acting as consultants to WSC. In the U.S., this might necessitate additional KYC procedures in the future, especially if the regulatory landscape becomes more strict and clear. This possibility needs to be accepted and it is also important to note that, as of now, no payments for past proposals have been made, as the community decided to retain funds in the treasury. However, as mentioned previously, it continues to be a viable option for future active participation in the community, something we can decide to enact later on.

Treasury Ownership:

The current status of treasury ownership still seems ambiguous to some, although it was previously made clear in the white paper, announcements, and multiple conversations. For effective operation, the treasury cannot literally be “collectively owned”. This would be legally impossible, as it would require everyone’s real life signature, for any action to be taken on the treasury. This would also transform the Chads into a financial security, which we will not do. Although everyone can provide an input about what can be done with the treasury, past amendments to the white paper, subsequently agreed upon by the community, state that the treasury is ultimately owned by the WSC leadership. This was designed to ensure the continuation of the community, as it is the only legal way to continue operating in the jurisdictions around the world without breaking a number of financial regulation laws. If we continue, it needs to be reasserted that this has always been and will continue to be the existing structure, but more importantly, it means that the aforementioned newer terms and services needs to reassert, once again, this clause, while also including clauses that describe what will take place upon dissolution of the community, which brings me to my next point.

Edge cases:

Our community has been ongoing for some time now, but it needs to be clear what happens in case I become no longer able to lead this community, for any reason. It is important to mention that a refund upon dissolution was never guaranteed, was mentioned as a possibility, and that if one were to be provided, it would solely be at the discretion of the leading team or company which represents WSC. It is important to clarify that the purchase of a Chad gave a holder the right to make proposals on a “communal”, public treasury, but that this does not give any right to any Chad to a direct share of said treasury. Again, this goes back to the above points about securities. The WSC leadership can make the decision to provide members of the community with a partial refund through the use of said treasury. If that scenario were to occur, it is important to note that it might not take place in a way that distributes it equally to the community members based on their initial purchase, but in a way that takes into account their active participation in the community.

We are where we are today and the treasury is where it is because a number of WSC members continuously have participated in helping keep the community afloat, and it would be unfair to provide to the individuals who only show up a few times a year the same benefits as individuals who have spent dozens if not hundreds of hours growing it. Before we can continue exploring what can be done with this community, within the next two months, it is important for there to be an alignment as to what can and will happen in the scenario above.

Ultimately, whatever the legal counsel deems to be the most appropriate course of action will be what is implemented, even if it includes implementing additional KYC solutions. I have spent a lot of time thinking about this over the course of the past few days and I believe that a solution that aligns the incentive of everyone actively involved while still remaining financially compliant is the best course of action. My mind is not made up and my thinking on this is still a work in progress.