Wings

WINGS
-0.16 % (24hr)

$ 0.0675558077

❝ WINGS is a decentralized platform for the creation, participation and management of Decentralized Autonomous Organizations (DAOs). WINGS is aimed at building a community in the crypto space where members can build trust while evaluating and funding new projects. ❞
Market Cap

$ 6.583M

Current Supply

$ 100M

Max Supply

$ NA

24hr Volume

146.5K

Proof

-

website

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Overview

WINGS is a blockchain platform that allows its users to participate in the creation and management of Decentralized Autonomous Organizations (DAOs). The decentralized platform enables individuals and organizations to submit new proposals to WINGS DAO community for discussion, review, and forecasting of the different aspects of the proposals’ success.

WINGS DAO smart contracts are written in Solidity. This enables WINGS to support any blockchain that supports Ethereum Virtual Machine (EVM) functionality. Rootstock (RSK) enables smart contracts to operate with bitcoins; (RSK) is a Bitcoin sidechain supporting EVM and its smart contract implementation. 

WINGS tokens are available on various cryptocurrency exchanges such as Liqui, Gatecoin, Livecoin, and CryptoDerivatives in trading pairs with Bitcoin, Ether and USDT.

It was developed by a team led by Stas Oskin based in Russia and the blockchain engineer of the project is Boris Popov.

How It Works

DAO project creators start by submitting a new proposal to the WINGS platform, using a user-friendly step-by-step wizard. The creators are required to specify the project’s initial governance model and also set the planned project milestones.The funding for next phase of the project is released on successful completion of these milestones. Finally, the project creators set the initial token supply of a project and the rules of the supply distribution to the participants of the backing campaign.

After the forecasting period, the WINGS platform generates a unique set of smart contracts that in turn generate a new DAO token for the project, and provide the creator with a blockchain address for the backing campaign.

The reward-based governance model of the WINGS platform encourages submission of well planned DAO propositions as well as meaningful discussions and forecasts, leading to better DAO management. According to this model, new DAO project tokens are issued after the settlement of the submitted proposition; the tokens being distributed to both the account that initiated the proposition and to participating forecasters. The project creator receives tokens on the basis of the number of project tokens that participated in evaluating the proposition, and how extensive the forecasts submitted were. The forecast providers receive tokens based on how close their forecast was to the final resolution.

WINGS emphasizes the ability of decentralized community to reach informed decisions efficiently thus employing decision markets in order to enable WINGS tokens owners to make decisions on key issues.

Key Features

  • WINGS uses a combination of standard DAO governance, prediction marketing and crowdfunding.
  • The platform provides opportunity to the crowdfunders to interact with potential projects and give feedback.
  • The developers aim to bring together users from across the globe to collaborate on deciding on the outcome of new projects.
  • Users can interact with the WINGS platform not only through desktop but also through popular messaging apps including Telegram, Slack, Facebook Chat and WeChat easily.
  • The feasibility of the submitted projects is analysed by the Wings community using swarm intelligence.

Conclusion

The goal of the WINGS platform is hassle-free creation of new project proposals; forecasting the ones with the best potential to become successful DAO project; enabling efficient collection of funds and fast decision-making process.

Key Links

Website: https://wingsfoundation.ch/,   https://www.wings.ai/

White Paper: https://wingsfoundation.ch/docs/WINGS_Whitepaper_V1.1.2_en.pdf