The most important consideration of this initiative is transparency. The proof of reserve is on-chain, which shows the exact 1:1 between minted wDoge tokens and Dogecoin stored by the custodians. When wDoge token holders redeem their tokens for Dogecoin, the tokens are burned. The minting and burning of tokens is in turn tracked and verifiable on the blockchain.
Proof of Assets
The custodian performs audits on a regular basis to show transparency through publicly viewable and verifiable transactions. The Dogecoin addresses below are controlled by the custodian.