What is WINGS?
WINGS is a platform that allows its users to participate in the management of Decentralized Autonomous Organizations. This new platform’s approach to DAO management uses a mixture of standard DAO governance, prediction marketing and crowdfunding. The developers aim to bring together users from across the globe to collaborate on deciding on the outcome of new projects.
Project creators start by submitting their proposals to the WINGS platform. Standard crowdfunding projects allow early investors to get perks and free access to the finished products but WINGS gives the people who invest a share in those projects by issuing tokens called WINGS Coins. These tokens allow the investors to be involved in all of the future decisions that affect their projects and entitles them to a share of the profits that are distributed through smart contracts.
The feasibility of submitted projects is analysed by the WINGS community using swarm intelligence. WINGS Coin holders evaluate the projects that are proposed then come to a decision using prediction markets which provide risk-assessments and an idea of the potential profits to decide on whether a new project can fly. Each project is scored according to how realistic the goals are, whether the team can be trusted and whether they can realistically be expected to raise the funds required.
Market predictors stand to gain from the WINGS platform as well as project developers. Members of the community are incentivized to make accurate predictions by getting tokens in the projects that they support which earn them profits if the projects succeed. This ensures that the WINGS platform is backed by a global community with an active stake in each project’s outcome.
Thanks to its decentralized nature, the WINGS platform is able to get quality forecasts from professionals all over the world. This means that potential backers are saved from the hassle of doing their own research into projects which they would otherwise have limited knowledge on whether to back or not. Every project goes through a rigorous vetting process by the members and the proposals can be amended if need be before they are given the go-ahead to start getting funding. Once a proposal is accepted the project becomes a new DAO that works under its own set of rules.
WINGS Exchanges
Wings tokens are available on numerous cryptocurrency exchanges such as Liqui, Gatecoin, Livecoin and CryptoDerivatives in trading pairs with Bitcoin, Ether and USDT however Bittrex boasts the highest trading volume and liquidity.
WINGS Wallet
The WINGS platform runs on the Ethereum network therefore any wallet in which you hold the private keys can hold WINGS tokens however only certain wallets such as MyEtherWallet and Metamask will allow you to view and send those tokens.
WINGS Overview
WINGS is revolutionary because it allows crowdfunders to interact with potential projects and provide feedback. No other crowdfunding or DAO technology on the market allows its users to get such an accurate evaluation of whether their projects are viable or not. Project submitters benefit and so too do the professionals who offer their expertise on how to make a project viable.
WINGS brings together not only investors and entrepreneurs but also opinion leaders and forecasters who are given the opportunity to get a stake in their new projects by providing their expertise. The developers give priority to getting users involved in supporting projects rather than simply starting projects which gives credibility to each new project started on WINGS.
WINGS Team
The team that developed WINGS is based in Russia and is led by Stas Oskin who has more than a decade of experience in the engineering, management, and development of social products. Boris Popov is the blockchain engineer and he also works as an advisor for Lisk. Serguei Popov, Artem Gorbachev, Anton Bilyk and others make up the rest of the team that made WINGS possible.
The Verdict
The technology behind the smart contracts is a little difficult to grasp and people new to the world of cryptocurrency will have a hard time understanding what goes on under the hood however WINGS promises to turn the world of crowdfunding on its head by allowing backers, forecasters and proposers to work together and create projects that are tailor-made to solve real-world problems.
The WINGS blockchain is built on the Ethereum platform. It uses a coding language called Solidity and the Rootstock implementation for smart contracts as a Bitcoin side chain. WINGS users don’t need to understand how to code and can interact with the platform via consumer-friendly desktops or mobile devices. Users can ask any questions that they have using Telegram, Slack or WeChat. Artificial Intelligence will be implemented in the future to allow people to interact with the smart bots in their native languages.
REFERENCES
https://bitcoinmagazine.com/partners/wings-next-generation-crowdfunding-community-projects-fly-join-wings-now/
www.wingsfoundation.ch
https://bitcointalk.org/index.php?topic=1477055.0
www.wings.ai
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