MiCAR White Paper

Wojak CTO LLC supports the wojak community-driven crypto-asset project, including white paper preparation and notification under MiCAR Title II, engagement with trading venues, communications with the community, and other activities ancillary to the maintenance and continued public availability of the wojak crypto-asset.

Wojak CTO LLC operates with a governance model inspired by that of a decentralised autonomous organisation. Day-to-day operational decisions relating to communications with the wojak community, engagement with trading venues, and the preparation and notification of this crypto-asset white paper are coordinated by a publicly identified Community Manager (Dominic Woods), with substantive contributions made by a wider group of pseudonymous community contributors who participate on a voluntary basis. Pseudonymous contributors hold no formal management or decision-making authority in respect of the entity and are not employees, officers or contractors of Wojak CTO LLC.

Wojak CTO LLC was registered on 30 April 2026 and has therefore not been established for the past three years. Since its date of registration, Wojak CTO LLC has been solvent and able to meet its obligations as they fall due. It has no material indebtedness, no contingent liabilities of any significance, and has not been the subject of any insolvency, restructuring, or material adverse financial event. The entity's resources are commensurate with the activities it conducts in support of the wojak crypto-asset community project. A balanced and comprehensive analysis of the development and performance of the business is not warranted at greater length, given the size and limited complexity of the business of Wojak CTO LLC.

False, wojak was originally deployed to the Ethereum mainnet by an anonymous deployer who subsequently renounced ownership of the smart contract. There is no continuing centralised issuer. Wojak CTO LLC is not the original deployer and does not hold any role of issuer in the traditional sense; it submits this white paper in its capacity as the person seeking admission to trading under Article 5 MiCAR. Fields B.2 to B.13 are not applicable.

The wojak project is a community takeover (CTO) initiative centred on the wojak ERC-20 crypto-asset and on the broader cultural meme of 'Wojak' (also known as 'Feels Guy'), a recurring character from internet meme culture. The smart contract was originally deployed by an anonymous deployer who subsequently renounced ownership; no original development team continues to maintain the project. Wojak CTO LLC was formed by community members to provide a legal vehicle through which the project's community-facing activities, including this MiCAR notification, can be undertaken in a structured and regulator-engaged manner. The wojak project is not designed as an investment product, does not promise financial returns, and does not represent any business, revenue stream, intellectual property or asset that would underpin a fundamental valuation. Its objectives are cultural expression, community building, digital participation, social engagement and regulatory engagement.

In line with the community-takeover model and the DAO-inspired governance arrangement described in field A.12, the substantive work of the project is contributed by a fluctuating group of pseudonymous participants who act on a voluntary basis. These contributors are not employees, officers, contractors or agents of Wojak CTO LLC, do not represent it, and hold no decision-making authority in respect of the entity. The smart contract itself is immutable and has had its ownership renounced; no contributor has the technical ability to modify the contract.

Wojak CTO LLC operates with limited financial resources sufficient to support its activities under this white paper, including notification, communications, and administrative costs. No external funding has been raised by Wojak CTO LLC by way of the issuance or distribution of wojak.

This is not applicable because there will be no raising of funds. This is not an offer of the wojak token but rather an admission of the wojak token to trading, as it is already in circulation.

This white paper is published to enable continued admission to trading of wojak on trading venues that are within the scope of MiCAR Title II and to satisfy the obligations applicable to the person seeking admission to trading under Articles 5, 6, 8, 12, 14 and 15 of MiCAR. No funds or other crypto-assets are being collected.

No restrictions are imposed by Wojak CTO LLC on the type of holder. Holders should verify that holding or trading wojak is permitted under the laws and regulations of their own jurisdiction and under the terms of service of the trading platform or wallet provider through which they hold the crypto-asset.

Determined by the trading platform on which the holder transacts. wojak may, depending on the trading platform, be acquired in exchange for fiat currency, stablecoins, or other crypto-assets, subject to the platform's terms.

Not applicable.

Holders acquire wojak directly on the trading platform of their choice. Transfer of the crypto-asset to the holder's wallet is governed by the trading platform's settlement processes and the underlying Ethereum smart contract's transfer and transferFrom functions.

To hold wojak directly (rather than via a custodial trading platform), a holder requires: (i) an Ethereum- compatible self-custody wallet supporting ERC-20 tokens on Ethereum mainnet (e.g., MetaMask, Ledger, Trezor, Rabby); (ii) a sufficient balance of native ETH in that wallet to pay Ethereum transaction (gas) fees; and (iii) the smart contract address of wojak (0x8de39b057cc6522230ab19c0205080a8663331ef, decimals 18). Holders accessing wojak via a centralised trading platform require an account with that platform.

Access to the listed trading platforms is determined by each platform's terms of service and, in the case of centralised platforms, may require account registration, identity verification, and acceptance of the platform's terms. Access to Uniswap is permissionless, subject to the holder's possession of an Ethereum-compatible self-custody wallet.

Costs of accessing each trading platform are set by the platform and may include account registration fees (typically none), deposit/withdrawal fees, trading fees, and network (gas) fees for on-chain transactions. Wojak CTO LLC does not levy any charge for access.

Wojak CTO LLC's management body and contributors may hold wojak crypto-assets in a personal capacity. The size of such holdings is not publicly disclosed but is not concentrated to a degree that would, in the assessment of Wojak CTO LLC, materially impair the independence of its decisions in relation to the wojak crypto-asset. No member of the management body holds, in a personal capacity, an equity or governance stake in any of the trading platforms identified in section E.33. Token distribution and on-chain holdings are publicly viewable on the Ethereum blockchain. Large holders (whether known or anonymous) may influence market conditions through their trading decisions; this is a feature of any liquid traded asset and is not the subject of any specific arrangement with Wojak CTO LLC.

Irish law governs the admission to trading of wojak by Wojak CTO LLC under this white paper.

The courts of Ireland have jurisdiction in respect of any dispute arising out of or in connection with the admission to trading of wojak, subject to mandatory provisions of the law of the place of residence of EU retail holders under Articles 17 to 19 of Regulation (EU) No 1215/2012 (Brussels I Recast) and the consumer-protection provisions of Regulation (EC) No 593/2008 (Rome I).

wojak is a fungible ERC-20 crypto-asset. Its on-chain functionality is limited to the standard ERC-20 interface: transfer, transferFrom, approve, allowance, balanceOf, totalSupply, together with the standard Transfer and Approval events. wojak does not embed any additional protocol-level utility, governance hook, staking facility, fee redistribution, or value-stabilisation mechanism. Its function is to exist as a transferable, fungible digital representation associated with the wojak meme and project.

All functionalities described in F.2 are operational at the date of publication of this white paper. No additional functionalities are planned by Wojak CTO LLC.

Token standard: ERC-20. Network: Ethereum Mainnet (chain ID 1). Smart contract address: 0x8de39b057cc6522230ab19c0205080a8663331ef. Decimals: 18. Total supply: 420,690,000,000,000 wojak (fixed; no minting function). Circulating supply at publication: 305,927,040,116,370 wojak (decreases over time through voluntary community burns). Ownership of contract: renounced. Mint function: none. Blacklist / freeze function: none. Liquidity provision: liquidity pool tokens for the principal Uniswap pool have been burned (sent to the null address), making the corresponding liquidity permanently unrecoverable by any party.

Wojak CTO LLC does not provide any service falling within the scope of Regulation (EU) 2023/1114, Title V (crypto-asset services), or within the scope of any other Union or national legal act regulating financial services. Wojak CTO LLC does not provide custody of crypto-assets, does not operate a trading platform, does not place crypto-assets, does not execute orders for clients, does not provide advice, does not provide portfolio management, and does not provide transfer services on behalf of clients.

Holding wojak confers the right to transfer wojak to any other Ethereum-compatible address by initiating an on-chain transaction using a wallet that controls the holder's address; the right to approve third parties to spend wojak on the holder's behalf via the ERC-20 approve and transferFrom functions; and the right to be free from any unilateral confiscation, freezing, or modification of the holder's balance. Holding wojak does NOT confer: ownership or equity interest in Wojak CTO LLC or any other legal entity; voting or governance rights; rights to dividends, revenue shares, profits or other distributions; rights to redemption; claims on any reserve or collateral; or rights to receive any good, service or benefit from Wojak CTO LLC. Holders are responsible for paying Ethereum network transaction fees on transactions they initiate and for complying with the laws of their own jurisdiction (taxation, AML, sanctions).

The rights described in G.1 are exercised by the holder by initiating Ethereum transactions from a wallet controlling the holder's address. No procedure, application, or approval involving Wojak CTO LLC is required for the holder to exercise these rights. No mechanism exists by which Wojak CTO LLC could impede the exercise of such rights even if it wished to do so.

The rights described in G.1 are encoded in the wojak smart contract, which is immutable: it has no upgrade function, and ownership of the contract has been renounced. Consequently, the on-chain rights of holders cannot be unilaterally modified by Wojak CTO LLC or by any other party. This crypto-asset white paper itself may be modified in accordance with Article 12 of MiCAR; any modification will be notified to the Central Bank of Ireland prior to publication.

No transfer restrictions are imposed by the wojak smart contract or by Wojak CTO LLC. Holders may transfer wojak freely between Ethereum-compatible addresses, subject only to the technical requirements of the Ethereum network and any restrictions imposed by the holder's own wallet or trading platform.

Not applicable.

Irish law governs the rights and obligations attached to wojak as described in this white paper.

wojak conforms to the ERC-20 token standard (Ethereum Request for Comments 20), the standard interface for fungible tokens on Ethereum. The smart contract source code was compiled with Solidity compiler version v0.8.0+commit.c7dfd78e with optimisation enabled (200 runs).

The wojak smart contract is deployed at address 0x8de39b057cc6522230ab19c0205080a8663331ef on Ethereum mainnet. Ownership of the contract has been renounced (owner() is set to the zero address), meaning no party retains administrative control. The contract has no minting function, no blacklisting authority, no fee-on-transfer mechanism, and no upgrade path. The contract source code is publicly verified on Etherscan. Holders interact with the contract via standard ERC-20 functions through any Ethereum-compatible wallet or trading platform. Wojak CTO LLC does not operate any node, validator, or back-end infrastructure necessary for the operation of wojak.

Ethereum has used a Proof-of-Stake consensus mechanism since 15 September 2022 (the 'Merge'). Under Proof-of-Stake, validators stake native ETH to participate in block proposal and attestation. Blocks are produced every twelve seconds, organised into epochs of 32 slots. Finality is reached after approximately two epochs (~13 minutes) under normal network conditions, via the Gasper consensus algorithm (a combination of Casper FFG and LMD GHOST). The full technical specification of Ethereum's consensus layer is publicly available at the Ethereum Foundation's specifications repository.

Ethereum validators are remunerated through (i) protocol-issued ETH rewards for proposing and attesting blocks; (ii) priority fees paid by users for transaction inclusion; and (iii) maximum extractable value, where applicable. Users of the Ethereum network pay a 'gas' fee in ETH for every transaction, the level of which depends on network congestion and the computational complexity of the transaction. wojak transfers, being standard ERC-20 transfers, consume a relatively small and predictable amount of gas. Neither Wojak CTO LLC nor the wojak smart contract imposes any additional fee on transfers of wojak.

Because no offer is being conducted by Wojak CTO LLC (this white paper concerns admission to trading only), offer-specific risks (such as failure to reach a subscription target or refund delays) do not apply. The principal risk associated with admission to trading is that the trading venues on which wojak is listed may delist wojak unilaterally, may impose trading restrictions, or may experience operational outages, with no recourse available to wojak holders against Wojak CTO LLC.

There is no centralised issuer of wojak; the original deployer renounced ownership of the contract and is not identifiable. Wojak CTO LLC, while submitting this white paper, is a small entity with limited resources; its dissolution, insolvency, or withdrawal would not affect the continued operation of the wojak smart contract on Ethereum, but it would result in the absence of any party able to undertake further regulatory notifications, modifications of this white paper, or community-facing communications. In that event, the wojak crypto-asset would continue to exist on-chain, but would no longer benefit from any organised support.

Market and volatility risk: the price of wojak is determined by supply and demand on secondary markets and may exhibit extreme volatility. Meme-associated crypto-assets are particularly subject to sentiment-driven price movements and speculative trading. Holders may lose the entire value of their holdings. Liquidity risk: liquidity for wojak may vary substantially across trading venues and over time. There is no guarantee of an active secondary market or of the holder's ability to dispose of wojak at any particular price or time. No fundamental backing: wojak is not backed by any asset, revenue stream, or claim. Its value depends entirely on market participants' willingness to acquire it at a given price. No rights: wojak confers no rights to dividends, revenue, redemption, governance or any other economic or control right. Concentration risk: large holders, whose identity may not be publicly known, may dispose of significant quantities of wojak, with consequent material impact on market price. Tax risk: the tax treatment of wojak depends on the holder's jurisdiction and may change over time. Holders are responsible for assessing and discharging their own tax obligations.

The wojak project is community-driven and does not have a binding development roadmap. There is no guarantee that any particular community initiative, partnership, or development will occur. Wojak CTO LLC's ability to support the project depends on its continued operation and resources, which are not guaranteed.

Smart-contract risk: although the wojak smart contract is a standard ERC-20 implementation with no additional logic, no software is free of latent defects. A bug, defect, or unexpected interaction with other smart contracts or wallet software could result in loss or impairment of access to wojak balances. The contract has not been formally audited. Ethereum network risk: wojak depends on the continued operation of the Ethereum blockchain. Network congestion may delay or increase the cost of transactions; protocol-level bugs, governance disputes, or hard forks could impair the network. Consensus mechanism risk: Ethereum's Proof-of-Stake consensus is subject to validator-level risks (slashing, collusion among large staking pools, governance capture). Wallet and key management risk: self-custody of wojak depends on the holder's secure management of private keys or recovery phrases. Loss of access to private keys results in permanent and irrecoverable loss of access to the corresponding balance. Front-running, MEV, and on-chain interaction risk: transactions on Ethereum are publicly visible in the mempool prior to inclusion in a block, and may be subject to front-running, sandwich attacks, or other forms of maximum extractable value extraction. Trading-platform risk: holders using centralised trading platforms are exposed to the credit, operational, and regulatory risk of those platforms. Cybersecurity risk: holders are subject to the general cybersecurity risks of operating in the digital-asset ecosystem, including phishing, malware, smart-contract impersonation, and approval-based exploits. Regulatory risk: the regulatory framework applicable to crypto-assets continues to evolve in the European Union and elsewhere.

Mitigation measures available to Wojak CTO LLC are limited by the fact that the wojak smart contract is immutable, that Wojak CTO LLC is not the operator of any trading platform on which wojak trades, and that Ethereum is operated by a permissionless validator set. Specifically: the smart contract is short, conforms to the ERC-20 standard, has ownership renounced, contains no minting or blacklisting authority, and may be inspected by any person, mitigating the risk of hidden or undisclosed functionality; the risks attached to the Ethereum network are mitigated, at the protocol level, by the continued work of Ethereum core developers, validators, and the broader ecosystem (Wojak CTO LLC does not control these mitigations); and Wojak CTO LLC commits to monitor regulatory developments, to modify this white paper in accordance with Article 12 MiCAR where material new information arises, and to provide clear and accurate information to holders via wojakcto.com.

Ethereum has used a Proof-of-Stake consensus mechanism since 15 September 2022 (the 'Merge'). Under Proof-of-Stake, validators stake native ETH to participate in block proposal and attestation. Blocks are produced every twelve seconds, organised into epochs of 32 slots. Finality is reached after approximately two epochs (~13 minutes) under normal network conditions, via the Gasper consensus algorithm (a combination of Casper FFG and LMD GHOST). The full technical specification of Ethereum's consensus layer is publicly available at the Ethereum Foundation's specifications repository.

Ethereum validators are remunerated through (i) protocol-issued ETH rewards for proposing and attesting blocks; (ii) priority fees paid by users for transaction inclusion; and (iii) maximum extractable value, where applicable. Users of the Ethereum network pay a 'gas' fee in ETH for every transaction, the level of which depends on network congestion and the computational complexity of the transaction. wojak transfers, being standard ERC-20 transfers, consume a relatively small and predictable amount of gas. Neither Wojak CTO LLC nor the wojak smart contract imposes any additional fee on transfers of wojak.

Methodology: Total Ethereum network energy from CCRI bottom-up measurement of post-Merge Ethereum, as published by the Ethereum Foundation at ethereum.org/energy-consumption (~2,601 MWh / year). wojak's share estimated from publicly observable wojak ERC-20 transfer counts on Ethereum mainnet relative to total Ethereum daily transactions (~1.1–1.3 million transactions per day, wojak ~0.05%). Per-transaction figures cited in published sources are averages computed by dividing total network consumption by total transactions over the measurement period; they will vary inversely with overall Ethereum network activity. These figures are dynamic best-effort estimates, not a fixed property of the wojak crypto-asset.

Sources:

• Crypto Carbon Ratings Institute (CCRI), "The Merge — Implications on the Electricity Consumption and Carbon Footprint of the Ethereum Network" (September 2022 and subsequent updates).

• Ethereum Foundation, "Ethereum Energy Consumption", https://ethereum.org/energy-consumption.

• Publicly observable on-chain data sourced from the Ethereum mainnet for contract address 0x8de39b057cc6522230ab19c0205080a8663331ef.