Wojak Token (cryptocurrency)
Wojak Token (WOJAK) is an ERC-20 memecoin cryptocurrency on Ethereum associated with the Wojak ("Feels Guy") internet meme. The original Wojak token launched on April 17, 2023, with a total supply of 69,420,000,000 tokens.[3] After launch, it was reorganized as a community-driven "community takeover" (CTO) supported by Wojak CTO LLC, following the original anonymous deployer’s renunciation of ownership of the contract.[13] The active WOJAK token is implemented as an ERC‑20 contract with a fixed total supply of 420,690,000,000,000 tokens, zero transfer taxes, and renounced ownership.[14][13] It functions as a pure meme token that provides no protocol-level utility, governance rights, or claims on assets beyond standard ERC‑20 transfer and approval rights.[14][13]
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Overview
Wojak Token is based on the Wojak or "Feels Guy" meme, an MS Paint-style illustration of a bald man with a wistful or melancholic expression that originated on imageboards in the early 2010s and later spread to imageboards including Krautchan, Vichan, and 4chan.[14][17][18] The character is used online to express emotions such as melancholy, regret, loneliness, or empathy, often appearing as reaction images and in derivative characters.[14][17]
Following the meme’s spread, the Wojak token launched on April 17, 2023, on Ethereum as a memecoin without built-in utility, with a total supply of 69,420,000,000 tokens and no buy or sell tax.[2][3] On the day after launch, the token recorded over $59 million in trading volume according to CoinGecko historical data.[1] From the outset, the team and, later, the community emphasized meme culture and community building rather than formal protocol-level utility.
Soon after launch, on April 19, 2023, NFT artist Beeple tweeted an image featuring US SEC Commissioner Gary Gensler appearing to promote memecoins including Pepe and Wojak.[15]
In the same launch period, centralized exchanges began listing the token. On April 18, 2023, Wojak was listed on the centralized exchange MEXC.[7] On April 19, 2023, the token was listed on Huobi and Gate.io.[8][9]
Following these listings and early trading activity, on May 2, 2023, Wojak reached a market capitalization of over $50 million according to CoinGecko.[1]
History
Wojak launched on April 17, 2023, as an ERC‑20 memecoin on Ethereum with a fixed supply of 69,420,000,000 tokens, no buy or sell tax, and initial liquidity provided on Uniswap.[2][3] Within days, it was listed on centralized exchanges including MEXC on April 18, 2023, Huobi on April 19, 2023, and Gate.io on April 19, 2023.[7][8][9] CoinGecko data shows that Wojak recorded over $59 million in 24‑hour trading volume within the first days of trading and reached a market capitalization above $50 million by May 2, 2023.[1]
After the initial listings and trading activity, in April and May 2023 the project organized community campaigns for token holders, including free commemorative NFT mints via Galxe for addresses holding a minimum amount of Wojak and a Times Square billboard design contest.[6][10][11][12] These initiatives aimed to reward early on-chain participants and to promote Wojak’s presence in online and offline meme culture.
Several years later, in early 2026, the project conducted a migration from the original Wojak token contract to a new ERC‑20 Wojak contract using a smart contract–based "flywheel" mechanism.[16] Under this process, holders of the original Wojak token deposited their tokens into a migration contract, which automatically swapped those tokens for ETH, used the ETH to buy the new Wojak token on the open market, and permanently burned the newly purchased tokens in a single atomic transaction.[16] This migration was a one‑time process with a defined window; after its completion, the original token ceased to be the active version, and the project’s active token became the new contract deployed on Ethereum mainnet.[16][13]
To support the community takeover and regulatory engagement following the migration, community members formed Wojak CTO LLC, a Wyoming limited liability company, which was registered on April 30, 2026.[13] The entity serves as the person seeking admission to trading for Wojak under the EU Markets in Crypto‑Assets Regulation (MiCAR) and is responsible for preparing and publishing the project’s MiCAR whitepaper.[13]
NFT Campaigns
As part of these early community initiatives, on April 22, 2023, the Wojak Token team announced that they would be giving a commemorative NFT to everyone who held at least 1 Wojak Token in an Ethereum address before the snapshot date of April 23, 2023, 12:30 am UTC.[6] On April 23, 2023, eligible token holders were able to mint these commemorative Wojak NFTs for free via Galxe on the Polygon network, with gas fees covered by the project.[10]
On May 1, 2023, a second free NFT mint for $WOJAK token holders went live on Galxe, again targeting on-chain holders as a commemorative reward.[11]
Billboard Contest
Continuing its promotional efforts, on May 16, 2023, the Wojak team announced a billboard design contest in which the winning creative would be displayed on a Times Square billboard in New York City.[12] Participants were invited to submit image or video designs by sending them to the project’s Telegram moderators or by replying to the contest announcement on Twitter.[12]
Design and Mechanism
The current Wojak token is implemented as a standard ERC‑20 smart contract on the Ethereum mainnet (chain ID 1), with 18 decimals and a fixed total supply of 420,690,000,000,000 tokens.[13] The contract conforms to the ERC‑20 standard’s transfer and approve/transferFrom functions and has its ownership renounced, meaning the owner address is set to the zero address and no party retains administrative control.[13] The whitepaper states that the contract has no minting function, no blacklist or freeze authority, no fee-on-transfer mechanism, and no upgrade path, so its behavior is immutable apart from user-initiated transfers.[13]
The 2026 migration from the legacy Wojak token contract to the new Wojak contract was executed through a separate migration smart contract using a "flywheel" mechanism.[16] Under this design, holders deposited their old tokens into the migration contract, which in a single atomic transaction swapped them for ETH, used the ETH to buy the new Wojak token on a decentralized exchange, and then burned the purchased new tokens, creating simultaneous buy pressure and supply reduction.[16] Wojak CTO LLC does not operate validators or its own consensus infrastructure; instead, settlement and security for Wojak transfers are provided by the Ethereum proof-of-stake network on which the token is deployed.[13]
Tokenomics and Distribution
For the original Wojak token launched in April 2023, the total supply was 69,420,000,000 tokens.[2] According to the project’s 2023 tokenomics announcement, 5% of the supply was allocated to the team, 5% to an airdrop, 10% to liquidity providers, and 80% to liquidity on Uniswap.[4] The Uniswap liquidity provider (LP) tokens for the main pool were locked until the year 2100 via a third-party locking service.[5]
Following the early 2026 migration, the active Wojak token is an ERC‑20 contract deployed on Ethereum mainnet with a fixed total supply of 420,690,000,000,000 tokens.[14][13] The project states that there are zero transfer taxes on the token, that ownership of the smart contract has been renounced, and that the LP tokens for the principal Uniswap pool have been burned, making that liquidity permanently unrecoverable.[14][13] According to the MiCAR whitepaper, the total supply is fixed with no minting function, and the circulating supply at the time of publication on June 25, 2026, was 305,927,040,116,370 WOJAK, decreasing over time through voluntary community burns.[13]
The MiCAR whitepaper specifies that Wojak does not confer ownership, equity, voting, dividend, redemption, profit-sharing, or governance rights against Wojak CTO LLC or any other legal person.[13] It further explains that the contract has no minting, blacklisting, fee-on-transfer, or upgradeability functions, and that holders’ rights are limited to standard ERC‑20 transfer and approve/transferFrom functionality without any claim on reserves or collateral.[13]
Governance and Community
Wojak is described in the MiCAR whitepaper as a community takeover (CTO) initiative centered on a meme-based ERC‑20 crypto-asset, with no original development team maintaining the project after the anonymous deployer renounced contract ownership.[13] The project is community-driven and does not have a binding development roadmap, with activities and initiatives emerging from voluntary contributions by community members.[13] Community coordination takes place through social channels such as Telegram and X (Twitter), which are used for announcements, informal feedback, and organizing campaigns.[14]
Within this community framework, Wojak CTO LLC was formed by community members to provide a legal vehicle through which community-facing activities, including regulatory filings and interactions with trading venues, can be undertaken in a structured way.[13] The whitepaper explains that holding Wojak does not grant ownership or governance rights over Wojak CTO LLC or any other entity, and token holders have no formal authority over its decisions; participation in the project’s direction is informal and based on voluntary community engagement rather than on-chain voting.[13]
Partnerships
According to the CoinMarketCap AI summary, the Wojak project announced a collaboration with Giggle Academy on July 31, 2026.[16] A tweet from the "Wojak Charity / Giggle Hero" account shows members of the Wojak community working with Giggle Academy to donate an educational tablet and introduce the Giggle Academy application to children at a school in Ikorodu, Lagos, Nigeria.[19]
Regulation
On June 25, 2026, Wojak CTO LLC published a MiCAR whitepaper as the person seeking admission to trading of Wojak on trading venues within the scope of the EU Markets in Crypto‑Assets Regulation (MiCAR) Title II.[13] The whitepaper classifies Wojak as a fungible ERC‑20 crypto-asset that falls under MiCAR Title II and specifies that it is neither an asset-referenced token nor an e‑money token and is not backed by any reserve of assets.[13] It also notes that no funds or other crypto-assets are being collected in connection with the whitepaper, which serves to meet regulatory obligations for continued admission to trading.[13]
The MiCAR whitepaper includes standard risk disclosures stating that the crypto-asset may lose its value in part or in full, may not always be transferable, and may not be liquid.[13] It further explains that Wojak is not covered by investor-compensation schemes under Directive 97/9/EC or by deposit guarantee schemes under Directive 2014/49/EU, and that holders do not benefit from such protections.[13]
