📢 Governance Update: Operational Transition of the DAO Ecosystem 📢

February 20, 2026

Dear valued customers,

This is an important announcement regarding the governance and operational structure of the DAO ecosystem.

Appointment of New Management Entity

Subject to approval in accordance with DAO governance procedures, operational management of the ecosystem will transition to the following entity:

Project J Limited
Vistra Corporate Services Centre
Wickhams Cay II, Road Town
Tortola, VG1110
British Virgin Islands
Director: John Fung

The Company intends to fully transfer the operation of the Web3 business to this entity, which is already in a partnership relationship with AVATAR48, with the objective of further advancing the ecosystem’s development.

Since December 2024, Project J Limited has been engaged with the ecosystem through strategic partnership and investment activities. On February 20, 2026, the Company and Project J Limited entered into a management transition agreement establishing the framework for the proposed operational handover.

Project J Limited has been selected as the appropriate entity to support the next phase of the ecosystem’s development based on its practical experience in Web3 ecosystem operations, its understanding of the DAO’s structure and community, its international business development capabilities, and its dedicated operational structure.

This transition is intended to strengthen operational execution, clarify governance structures, and enhance long-term sustainability.

Rationale for Transition

Project J Limited has been selected to support the next phase of the ecosystem’s development based on its experience in Web3 ecosystem operations, familiarity with the DAO structure and community, international market development capabilities, and dedicated operational focus.

The anticipated benefits of this transition include:

• Enhanced Operational Execution: A dedicated Web3-focused management structure is expected to enable more efficient coordination, faster decision-making, and improved execution across ecosystem initiatives.
• Stronger Global Expansion Capabilities: Project J Limited brings experience in international market development, exchange coordination, and ecosystem scaling, which is intended to support broader geographic expansion.
• Improved Community Development and Activation: With established Web3-native community engagement experience, Project J Limited is positioned to strengthen user participation and ecosystem activity.
• Long-Term Strategic Focus: As a specialized ecosystem operator, Project J Limited will concentrate exclusively on DAO ecosystem management, supporting continuity and long-term sustainability.

This transition is intended to reinforce governance clarity while strengthening the ecosystem’s operational foundation for future growth.

Governance Process

In accordance with DAO governance procedures, a formal proposal has been submitted on Snapshot on February 20, 2026, seeking approval for:

• The transfer of operational management
• Confirmation of governance separation
• Clarification of future responsibilities

The transition will proceed only upon approval by the DAO.

Transition Arrangements

Upon approval, a transition period of up to thirty (30) days will be implemented to ensure continuity and operational stability.

During this period:

• Operational responsibilities will be transferred in an orderly manner
• Updated contact arrangements will be communicated
• Ecosystem services will continue without interruption

Responsibility Framework

Following completion of the transition:

• The DAO will remain an independent governance body
• Historical matters and prior obligations will remain with the DAO
• Project J Limited will assume responsibility for future operational management

The Company remains committed to facilitating a stable and orderly transition and expresses its appreciation to the DAO community for its continued engagement and participation in governance.

Further details are available in the corresponding Snapshot proposal.

Best regards,
AI Avatar PTE. LTD.