Establishment of WAIT Protocol Investment Committee

On February 22nd, the WEMIX Foundation established the WAIT protocol through transparent decision-making to perform investment and marketing activities with the support and encouragement of the community.

As a follow-up measure, an Investment Committee has been formed and the committee members will be introduced. The Investment Committee, which was initially planned to consist of three members, has been expanded to five members after careful consideration to accommodate diverse opinions, ensure fair decision-making and maintain an appropriate number of representatives for swift and effective process.

Introducing the members of the first WEMIX Investment Committee who will review the investments made by WEMIX Foundation over the next year starting from April 1st, 2023 and execute approved governance votes of the 40 WONDERS.

• Sooyong Park, Professor of Computer Science at Sogang University, Head of Technology Convergence Division-SME Economic Promotion Committee, and former 2nd President of the Korea Information and Communications Promotion Agency.
• Yuhua An, President of University of Irvine, and former board member of the National Intellectual Property Committee.
• Kun-Ho Lee, Chairman of Financial Innovation Research Network, external director of Toss Bank, and former CEO of KB Kookmin Bank.
• Henry Chang, CEO of WEMADE.
• Daiwon Hyun, Dean of Metaverse Graduate School and Digital Asset Research Center at Sogang University, and former President of the Korea VR AR Industry Association.

The WEMIX Investment committee will operate as follows:

• Members are appointed or dismissed by the WEMIX Foundation.
• The chairperson is headed by one of the members, while CEO Henry Chang serves as the founding chairman.
• Members serve a one-year term with the possibility of reappointment.
• Committee deliberations begin with the chairperson sharing the agenda via email, and continue for a period of three days.
• Although email is the primary method of discussion and debate, other means of communication such as video conferencing, group chat, and face-to-face meetings may be utilized to conduct deliberations, discussions and decision-making, taking into account the committee members’ circumstances.
• Once a consensus is reached by at least 3 out of the 5 committee members, the investment moves forward to a governance vote by 40 WONDERS. In this case, each committee member discloses their stance on the agenda and their reasons publicly.

We would like to thank each of our Investment Committee members who have empathized with the purpose of the WEMIX WAIT protocol and accepted the request to serve as at the benefit of the community as a whole. Moving forward, the Investment Committee will take a multi-dimensional approach on investments made towards the expansion of the WEMIX ecosystem that is believed to positively impact not only the foundation, but also the community, investors, and the industry. This approach will not only enhance the transparency of the decision-making process, but also contribute to the healthy and substantial growth of WEMIX.

Thank you.