Wings is a platform in the form of a DAO (decentralized autonomous organization) that provides infrastructure for the creation of start-ups in the form of DAO using its own tools.
According to the creators, on a general level Wings has properties of a DAO, one that selects promising projects for further funding such as Augur (prediction-market) and Kickstarter.
Wings aims to make the process of creating and managing projects in the form of a DAO simple and easily accessible. This should be achieved through the use of popular messengers for communication with the DAO through chatbots.
Another important aspect of the platform is the stimulation of the platform members to participate in the development of the system, by evaluating, commenting and forecasting the success of the platform projects.
Blockchain technology has allowed for the creation of an entirely new business model, which combines the traditional elements of market relations and aspects of social interaction. The DAO format is still young and growing type of business platforms, which includes aspects of the traditional format of ownership and impact on business through shares (the tokens in this case) of the company, as well as elements of crowdfunding. The role of investors is determined not only by the scope of ownership of the project assets, but also their professional vision of the desired business development (forecasting elements).
The very concept of a DAO was made possible thanks to blockchain technology and the decentralized system one can create with it. It is worth noting that the concept of a DAO is young and only just emerging as a model; blockchain is a bit more mature than the landscape distributed registry.
At first, the model looks promising. However, the success of this concept has not been confirmed yet. Wings is one of the early adopters of this trend and will try to prove its viability.
The most interesting thing in the Wings’ approach lies in the fact that the site gives everyone the tools to run your own project in the form of a DAO without the need for the programming skills. Moreover, the developers have taken into account the current technological trends in the formation of the new user interface in the form of a chatbot that is built into instant messengers. Wings wants to implement basic DAO management for the investors and founders of projects through chatbots in messengers (Telegram, Slack, Facebook Messenger, WeChat). In addition to the traditional Web-based and API, the Wings team relies on the convenience of the chatbot-based services.
This step looks quite reasonable. Now let’s consider the dynamics of the development of said messengers:
- Slack shows a steady and stable growth of the user base: on February 1, 2014 the service had 16 000 users (not using a paid account), on October 20, 2016 the service had 4 million non-paying users and 1.25 million paying users;
- Facebook Messenger dynamics looks particularly impressive: from April 2014 to July 2016 the messenger audience has grown from 200 million to 1 billion;
- Telegram has more than 100 million active users;
The figures show that the messengers is the only market segment of apps which has shown steady growth of users. It is likely that with messengers we’ll see the birth of a new interface for communication between brands and users.
A month ago, Facebook announced that the platform for chatbot integration which launched in April this year has more than 30,000 bots. The growing popularity of this trend is unquestionable.
It’s worth noting that Ethereum is taking steps in the same direction: at a Devcon2 presentation a mobile light-client for Ethereum called Status (currently in closed beta stage) was demonstrated, in which interaction within the Ethereum network is constructed via a messenger system. Transactions and sending information in blockchain are performed via sending messages in a kind of a chat. Developers also noted the popularity of instant messengers and the fact that the phones are replacing PCs and laptops.
Thus, as its technical basis, Wings chose two of the youngest and promising trends: DAO and chatbots. It should be understood that even with its innovation, these two areas have not yet confirmed their long-term viability.
Wings is an infrastructure solution for launching new projects in the DAO format. Basically, this concept can be interpreted as a branch of crowdfunding.
The trend of the crowdfunding industry development shows growth. According to experts, in 2016 it is expected to grow to $60 billion.
The only gap in the dynamics of development in the business model Wings format is the organization of the project in the form of DAO. Here it is necessary to understand that this model doesn’t have any trends including negative: it is still in its infancy. If we consider that in theory it looks perspective enough, it can be considered a neutral investment at the moment, but in the long-term, its dynamics will need to be closely monitored.
However, its infrastructure business models look the most promising since new projects grow on their base, then promote the parent platform/site.
One of the main advantages of platform is the orientation of the simplicity of creating projects in the form of a DAO by users. Users do not need to have any particular programming skills to present their project to the public. Any process, whether it is launching an idea or participating in a project can be controlled by a smartphone. All the controls are in the process of participation: by starting an idea it can be realized with only a smartphone.
The following functions will be available through a chatbot:
- DAO application management
- requesting additional information about the projects
- discussing possibilities of different projects
- forecasting financial success of each application
- DAO management
- subscription to other Wings users
Such simplification is just within the current trends of fintech projects and other innovative services that are designed to simplify the cumbersome traditional services. Given the high level of penetration of smartphones and the cravings for mobility from the millennial generation, this step is more than reasonable.
At the current moment there are basically no competitors in the blockchain industry for Wings. And we’re not even mentioning the traditional business segment in this case.
At the heart of the service are innovative and fastest growing areas. The founders of the project combined them to create a revolutionary platform infrastructure. The entire risk of the project's success lies precisely in it being absolutely revolutionary.
The idea has a good chance of success with proper user activity. All related areas that are included in the service (instant messengers, chat bots, crowdfunding) show steady growth.
Wings can be called a venture project within the venture capital industry, a risk within a risk. Moreover, the risk is not so much due to the technical background or the team, but mostly the core idea of the project: how revolutionary it is.
We are witnessing a process of democratization and simplification of the creation and implementation of one’s ideas. The first stage of this process was initially closed to venture investors, then crowdfunding emerged which greatly expanded entrepreneurs’ opportunities to launch their own projects. However, even crowdfunding has a significant number of entry barriers.
The Wings platform not only provides the opportunity to try and launch your own project, it makes the process affordable, even for users without special knowledge in programming. At the same time the community itself is interested in the successful development of the most promising ideas (forecasting), which will encourage the selection of the most viable projects.
The developers have not released a plan of further development of platform, which in this case looks quite logical. The very basic idea of the project is very large-scale and to develop any plans for the future, it’s necessary to fully implement the primary functionality and then assess its relevance.
Such projects tend to take all or nothing. They are never in the middle.
THE TECHNICAL ASPECTS OF THE PLATFORM
Smart contracts in Wings and platform security.
In Wings for writing contracts, languages Solidity and Serpent (the languages used in the Ethereum, based on JS and Python, respectively) are used. This allows Wings to maintain any blockchain supporting EVM (eg Ethereum, Rootstock, Counterparty).
Payment transactions (commission) on the Rootstock platform is included in Wings commission, i.e., all transactions can be paid only by using Wings tokens.
To ensure safety, the following technologies are used on the platform:
- formal code verification;
- functional programming;
- creation of backup protocols.
Formal verification is a notational representation of a contract that provides assurance that it does what it should.
Functional programming is when functions, not objects or procedures, are used as the fundamental building blocks of a program. At the moment Wings needs to utilize the currently supported languages. The long-term plan is to fund and lead the development of a functional language support for WINGS-DAO smart contracts.
Last resort emergency recovery is possible through RSK federation, which is a list of known companies in the Bitcoin industry that serve as transactions gatekeepers. All the BTC deposited (pegged) to a Rootstock side-chain are contained under the multi-signature key of the federation. As a result, withdrawing BTC is only possible when the majority of the federation members confirm the side-chain withdrawal transaction.
This is assumed to prevent usage of discovered vulnerabilities for stealing funds (or making other damage) like it was with DAO.
The Wings platform pledges to have a periodic client code and smart contracts audit by the external security companies, with a bounty fund allocated to sponsoring this audit.
Newly launched DAOs may include an optional bounty fund, providing further security improvements to the project.
The Wings platform will provide mechanisms that will enable distribution of upgrades and security improvements to all DAO projects launched on the platform.
Creation of new proposals
Within the framework of platform participants create applications for new projects.
The new application is created by step by step wizard.
- Creating applications. A Member describes their project for the system with the possibility of loading additional media content and documents that help to introduce the project in the desired form.
- Selection of management models for the new DAO:
- Direct democracy (each member decides independently);
- Liquid democracy (voting delegate);
- Futarchy “Vote values, but bet on beliefs/on what you’re convinced” (creating market forecasts).
- Selection of key events at which a certain portion of the raised funds will unfreeze. The key event is considered to be achieved if the community, through the prediction mechanism, will confirm the information. Management Model, the key events and the number of tokens may be further revised in if a majority vote is held in favor of the revision.
- Specify the total number of tokens and their rules for the distribution between users.
- Payment of commission.
- Start voting. The Creator is given a certain period of time to make changes to the project, making it possible to respond to community feedback. Then all changes are recorded and based on their created smart contracts. Application may be withdrawn before the end of the voting period.
During the forecast period, the owners of Wings tokens can:
- Mark the project as spam;
- Offer their corrections for the project;
- Making forecasts for the volume of funds that can attract the project.
All proposals are ranked according to the results of the voting: the higher the number of forecasts and the wider the range of the expected size of funds raised, the higher the rank of the proposals and the greater part of the new tokens will receive the author.
At the end of the forecast period, the proposal is formed in the full DAO and placed on the Wings platform as an active project. The process of creating DAO includes:
- Creating a set of smart contracts;
- Creating of own tokens;
- Integration in the Wings platform. Placement into a "launching soon" section on Wings, the creation of a countdown timer to start a crowdfunding campaign;
At the end of the timer, the project is transferred into a "Running DAO" category, the fundraising process on a smart contract is initiated.
Afterwards the project begins to operate in accordance with what is laid down in the smart contract rules.
Predictions are also designed to help to determine how will the pass the key stages of the project development. Project funds may be partially released for use by the creator when reaching following steps:
- Start of the project realization;
- Changing the rules of the DAO;
- Product release;
- Other similar events.
Each stage involves community participation in a vote so as to provide a reward for the accuracy of their forecasts.
Each participant has a rating that reflects the quality of its forecasts (in fact, there are two forecast ratings: the numerical one (which is changed after each vote), and the qualitative one, which indicate to which category the account belongs.)
Wings DAO uses a liquid democracy model, i.e., members can delegate their prediction right (based on the number of tokens) to another participant. The delegate rate affects the amount of awards along with the number of votes (tokens), including for those who have delegated their vote. According to the creators opinion, this should lead to a meritocracy (those who oversee the platform will be the most qualified and active participants.)
Rate increases \ decreases depending on the quality of the forecast. In the absence of activity, the participant is also gradually lose the rating, it may be reduced down to zero.
Forecasts are translucent. Results are visible to everyone and the individual forecasts are private. There is protection against tokens movement for multiple voting.
Rating to the creator of proposals varies depending on the election results. Proposals which are marked as spam incur a fine for their author.
Protection against Sybil attacks and anti-spam commission
The number of tokens in possession affects the size of rewards for correct predictions; creating botnets becomes unprofitable. Forecasts tokens are not needed. One only needs to pay for anti-spam commission.
A large number of tokens in comparison with a small number increases rating. This is stronger in the case of a true prediction and reduces the rating in the case of an incorrect prediction.
Each action requires a waste of gas for its work, the commission paid in Wings tokens.
The Commission for the addition of a new proposal depends on user rating. If the proposal is deemed spam by most users it is removed from the platform and the commission paid for its publication will be distributed between the right to vote.
Originally to be released in the form of tokens on the Rootstock blockchain. In the future, the developers plan to support different blockchains by pegs, as well as to ensure the absence of commissions for transaction (similar Steemit and IOTA). Thus, developers see the future of the platform in the form of a so-called cross-chain platform when coins from different blockchains can be sent in the Wings, "freezing" in the main blockchain and appearing in the new. If this is did not implemented in Rootstock, the developers intend to create their own Bitcoin sidechain or individual blockchain.
Also, according to the developers, Rootstock was chosen instead of Ethereum partly because of the promised native support for a Lightning-network since starting platform. This should provide the possibility of making transactions on the orders faster and cheaper.
Wings tokens perform the following roles:
- Miner compensation for transaction processing;
- Fuel for smart contracts;
- Anti-Spam Commission;
- The reward for accurate forecasts;
- Protection against Sybil-attacks;
After the DAO, the portion of the newly created token is distributed between owners of Wings-tokens, whose predictions about the amount of funds raised were the most accurate. Tokens accrued automatically to the addresses of the voters. Instead of tokens of the new platform, the initiator of the request can choose to send as a reward part of the funds collected by the project.
Creator of requests receives tokens depending on the number of Wings tokens, that took part in the vote, and the scatter of the results of voting.
Forecast participants receive tokens depending on the accuracy of the forecast (proximity to actual results), while considering proposals’ quality factor (i.e. based on the proposed reward for the creator).
Wings DAO management
Initially at forecasting a liquid democracy model will be applied, but the rules can be changed by a vote. As mentioned, designs constructed on the Wings platform may use one of three control models:
- Direct democracy (each member decides independently);
- Liquid democracy (voting delegate);
- Futarchy “Vote values, but bet on beliefs/on what you’re convinced” (creating market forecasts).
Over time, these models may changed and get updates for their smart contracts, based on the results of the vote.
Initially, the commission will be paid in Bitcoins and then will be added Ethereum support. Owners of Wings tokens can change the model of the commissions on the voting results within the Wings DAO management system.
Wings will use one of the most popular systems of decentralized storage, such as IPFS (Interplanetary file system), Sia, Srotj or MaidSafe, to download and store information. They can be used for decentralized storage of user data. Payment for the use of decentralized storage will be included in the Wings system commissions.
To interact with the platform, clients are provided a Desktop, Web client, as well as chat bots for popular instant messengers.
Unlike other DAO which are based on Ethereum and requiring the use of an Ethereum Wallet as well as one’s own full Ethereum-node (with full blockchain in tens of gigabytes), to interact with Wing’s DAO, chat-bots are used in popular instant messengers. Support was announced for Telegram, Slack, Facebook Chat, WeChat and other. Interoperability will be the same for different IM clients through chat-hub, provides cross-communication.
Chat bots will allow:
- Manage DAO applications;
- Request additional information about the projects;
- Discuss the possibility of different projects;
- Predict the success of the financing of each application;
- Manage formed DAO;
- Subscribe to other Wings users;
In other words they provide all the necessary functionality to work with Wings DAO.
In one of the presentations, the developers have mentioned the possibility of creating the entire infrastructure (including wallet) within Telegram. This way it will be possible to use Wings without having to open a browser in the future.
Managing a chat bot is available in English. Also the developers have plans to add support for Russian and Chinese.
Wings’ code is not available. There is a site repository and some supporting instruments are not directly related to the project.
Boris Povod (developer)
Registered in 2014, the most productive in 2015 (863 contributions), in 2016
135 contributions. A total of 63 repository 43 foloverov. Rating - 2 stars. The most popular repositories associated with Crypti (the project on the basis of which Lisk was created).
Escrow has not been announced yet. Escrow must be announced later, as all currencies will use purses within a multisign format. The choice of currency, in part, is due to having a multisign function (Lisk, a team comparable to Wings’ developers, did not get the supported list due to lack of a multisign format).
A total of 100 million Wings tokens shall be created by Wings smart contracts, with 75 million Wings tokens being allocated to Wings DAO-backing campaign donors.
Bounty, advisory, and referral pools.
The pools shall be allocated as follows:
- 1.5M — DAO Eggs bounty Egg to WINGS conversion
- 1M — Campaign referral rewards
- 3M — Current and future advisory
- 19.5M —Team, sponsor and foundation general allocation
Early birds bonuses
The first 10,000 Bitcoins donated shall receive a visionary bonus of 10%.
- The first 24 hours shall have a 20% early bird bonus
- The next 10 days shall have a 15% bonus
- The next 28 days of 10% bonus
- The final 10 days the bonus shall linearly decrease from 9% to 0%
In addition to bitcoin, the following coins with their WINGS tokens percentage allocations will be accepted during the backing campaign:
- Ethereum — 15%
- Ethereum Classic — 6%
- Ripple — 5%
- Litecoin — 4%
It refers to the percentage of the maximum amount of scheduled funds (30,000 btc), i.e. 15% for Ethereum means that it may be held no more than 4,5k btc (fixed rate to Bitcoins for each transaction in the time of the transaction).
This summer, a bounty program was held in which users could obtain so-called Eggs, which, with the launch of the platform, have become Wings tokens.
The rules were standard, bonuses were given for signatures to the Wings thread on Bitcointalk (a forum), to subscribe to twitter, retweets, facebook, a mailing list, as well as translating information materials and announcements into other languages.
Proof of developer
The team is not anonymous and active on few social media channels.
All the information is given according to the description of the official website, public sources and team members’ LinkedIn profiles.
Many team members share recent workplaces.
Sebastian Stupurac (LinkedIn) - Project & Product
- He’s a CEO of ChainLab, a company that develops the Wings DAO platform.
- Previously he was a CIO and Product & Project Manager at eyecam, a cloud camera service and an Enterprise level support manager at NeoVSP , Video Security as a Service platform.
According to the official website, he has been involved in blockchain technologies since 2013, however his only recorded blockchain experience is with ChainLab, the first product of which is Wings DAO platform.
Pavel Nekrasov (LinkedIn) - Senior Developer
- He’s a senior developer at Xifring, an Internet of Things company.
- Previously he was a senior developer at Crypti, IT director at Vipel, a Search engine for electronic components and lead architect at PlaceInSpain.es, a project that helps to manage bookings from services like AirBnB.
- He has an extensive experience in development, working as a Software Developer, Web developer, Senior web developer and Lead Frontend Developer at six different companies.
- He has technical and blockchain experience.
Alex Sazonov (LinkedIn) - Senior Developer
- Currently he’s a Python and Golang developer at DevLab, an IT services company.
- Previously he was a developer at Moscow Industrial Bank, ROSNO and system administrator at Euroset Spb.
- He has extensive technical background but no recorded blockchain experience.
Boris Povod (LinkedIn) - Blockchain Developer
- He was a co-founder and lead developer at Crypti, a cryptocurrency and decentralized application platform. According to the official website, he’s also a technical advisor for Lisk, a platform that was forked from Crypti in early 2016.
- He was a full stack developer at eyecam, a cloud camera service. Previously he was a freelancer at Upwork and spent about 330 hours working at various mobile-related projects.
- He’s a Hero member at Bitcointalk.
- He has technical and blockchain experience.
Stas Oskin (LinkedIn) - BizDev and Core Dev
- He’s a CTO at ChainLab where he works on Wings DAO platform and eyecam, a cloud camera service.
- He was a co-founder at Wordberry, an Internet-based translation agency.
- He has an extensive technical background, working as a CTO at various companies including NeoCam, a Video Security as a Service product; NeoVSP, Video Security as a Service platform and BeeComm, a Point-of-sale company, specializing on the restaurant industry.
- He also worked on Crypti’s architecture design, product management and fundraising and consulted at SpondooliesTech - mining equipment developer.
- He’s a Hero member at Bitcointalk.
- He has technical and blockchain experience.
Dominik Zynis (LinkedIn) - Marketing and Communications executive
- Currently he’s a President & CTO at Ibiza Party Life, a company that is developing a mobile application for guest lists and private events.
- He has a diverse crypto-related experience, working as a Partner at Blockchain Capital and a Head of Business Development Mastercoin Foundation. He also was in charge of Business Development at Crypto Corporate Services Corp.
- He also was an Investor / Managing Editor at Chloregy, Channel Sales Manager & Director at eMeter Corporation, Technology Account Manager at Oracle, Technology Evangelist & Co-founder at State Software and a Business Development Manager at Communities.com
- He has an extensive marketing and communications background and diverse blockchain experience.
Nikolay Taymanov (LinkedIn) - Community Manager
- He has no recorded blockchain experience prior to Wings.
Serguei Popov (Website) - Scientific Advisor
- Full Professor (MS-6) at the IMECC-UNICAMP, Campinas, Brasil. His General field of work in the Probability Theory.
- 1994: Diploma Summa cum Laude of the department of Mathematics and Mechanics, Moscow State University
- 1997: Ph.D. at the department of Mathematics and Mechanics, Moscow State University
- According to the official website, he’s a Crypto enthusiast. He’s a Sr. Member at Bitcointalk
- He has extensive scientific experience
Lior Zysman (LinkedIn) - Legal Advisor
- Lior is an attorney at Law ZAG-S&W Law Offices since Nov, 2013 and works in various fields, including Hi-Tech.
- According to the official website, he’s working on decentralized autonomous non profits (Runner-up at Consensus 2016 Hackathon with a Charity DAO). He also was a volunteer at Bitcoin EmBassy.
- He has legal experience.
Nimrod Back (LinkedIn) - Campaign Advisor
- He’s a co-founder and CEO of two Kickstarter-funded projects: Boogie Dice, a gaming dice that raised $185,035 - 370% over it's initial goal and Pressy, additional phone button project, that raised $695,138 - 1700% over it's initial goal.
- He has successful crowdfunding experience.
Eric Gu (LinkedIn) - Marketing Advisor
- Co-founded ViewFIN.com, a company that provides blockchain data visualization of multiple crypto-currencies. He also founded Metaverse - a decentralised platform of smart properties and digital identities, based on public blockchain technology
- Organizer of meetup group Bitcoin Shanghai
- He also was a Director of Business Development at Hua Data Technology Co. and Senior Project Manager at Canon Canada and Government of Ontario.
- He has blockchain experience.
Matthew Elias (LinkedIn) - Strategic Advisor
- He’s a Founder and Principal at Nomos Labs, LLC and was a Founder and Executive Director at The Cryptocurrency Legal Advocacy Group Inc., the first world's first cryptocurrency legal advocacy organization. Previously he held other positions in few legal companies.
- He has blockchain-related legal experience.
The company has a strong technical team with blockchain background. It also has an impressive set of advisors, however it’s unclear how involved those advisors be in the project.
We were able to talk to Wing’s founders over email and they give answers to our questions.
The team gave a number of interviews:
They also have an active blog that is available in several languages.
The team has been quite active by participating in a number of events and conferences, including: Helsinki Blockchain Conference 2016, CryptoCurrency PubCon at NYC, Bitcoin Wednesday, Ethereum DevCon2 Blockchain Week and Decentralized Autonomous Society Meetup at Palo Alto.
They have also organized a meet up & demo in Shanghai and Moscow.
Wings Stiftung is a non profit Foundation registered in the canton of ZUG, Switzerland (same area as the Ethereum foundation was established). Foundation information can be found in Swiss Registrar.
The ICO investment process will be classified as a donation. There will be no investments or any promises of returns involved in the donation campaign. The donation campaign will be running under Swiss Non-Profit Authority and Auditory supervision and in cooperation with the Swiss legal firm MME Law. WINGS Foundation was approved by Swiss Authority on Nov, 16.
According to the founders, most blockchain-related projects completely ignore the legal perspective (which is factual) and they intend to change this by establishing a decentralized, reputation-based directory of experienced legal experts able to accompany and support the projects. This includes an open-source legal library (already populated by their own campaign’s legal materials and documentation), available for public use.
Risk of legal prosecution
According to the founders, the risk of the company being fined for not registering properly and not having certain licenses is very low because “the team spent the last 5 months tracking, analyzing and addressing every legal aspect, including registration, campaign management, license requirements and SEC regulations”
However, we should mention that since it’s a very new industry, it’s difficult to give any guarantees.
Guarantees to investors
According to the founders, the guarantees that the investors will receive their tokens after the ICO are stated as follows: “The WINGS Foundation is both regulated and audited by the Swiss non-profit authority. The campaign will have detailed terms of participation, legally binding the Foundation, that will clearly state the process during which WINGS tokens will be created and distributed by the smart contract to the donators.”
According to the founders, the guarantees that the project will continue to develop in accordance with the roadmap after the ICO are as follows: “WINGS introduces new industry standards by introducing campaign milestones. All the donated funds will be milestone-ed and secured by legal escrows, meaning any milestone funds will be released only after the previous milestone has been successfully delivered by the team, thus ensuring an ongoing Foundation commitment to project and the community. All donations are protected by 5 legal escrows using a 3 out of 5 required signatures.”
We should mention that campaign milestones were previously used by other companies.
Wings has a legal advisor, Mr. Lior Zysman. They are also represented by MME, a Swiss law firm that has significant experience in developing the legal structure for blockchain platforms.
Wings has 22 local threads on Bitcointalk. The project has considerable attention on bitcointalk.org, getting 2164 replies in the main thread (May, 18 2016 - Nov, 10 2016). The project has received mostly positive feedback from users, however the Bitcointalk thread is self-moderated, which is an alarming sign; we can’t be sure that this feedback reflects actual opinions of the entire userbase.
Dominik Zynis is in charge of Wings marketing and communications. They also have a Marketing Advisor, Mr. Eric Gu.
The company organized a bounty campaign that was designed as proof-of-concept for the Wings DAO.
The company has a presence on a few social media platforms
Community. It is difficult to say at the moment. While most of the comments on Bitcointalk are positive, the self-moderated thread might not reflect actual opinions of the entire userbase.
Wings has received considerable attention from various crypto and financial media outlets including: Cryptorials, CoinTelegraph, Bitcoincafe, Coincheck, Live Bitcoin News, NewsBlochain.hk, The Merkle, CryptocoinsNews, All Coins News, Econotimes, Newbium, Benzinga, Streetinsider and Finsmes.
- Account - Full Member
- Self-Moderated Announcement Thread
- Has a detailed and professionally designed website.
- There is a white paper and a financial plan, that includes goals & milestones. There is a roadmap for 3 years, that developers sent us - it’s not available yet. They plan to publish it in November.
- The project uses technological tools (instant messengers, chat bots), that show a clear increase in popularity and acceptance among users;
- The business model is based on crowdfunding, which demonstrates strong growth and dynamic development;
- The clearly innovative component of the project creates great prospects for its development;
- A strong technical team with an impressive set of advisors;
- Increased security of smart contracts, technology to backup recovery funds that are stored in smart contracts;
- Support of multiple blockchains in the future.
- The organization structure of the project in the form of a DAO has yet to prove its viability;
- Dependence on third-party blockchains: it’s unknown when exactly Rootstock will be released, or whether it will maintain necessary technology (using the Lightning network, sidechain, and others).
Our evaluation for Wings is “Stable +”. If the following happens, we may assign a higher rating for the project:
- Users of the platform should actively demonstrate the viability of the DAO format with their projects.
Wings is currently one of the most promising projects in the blockchain industry. It offers an innovative business model, a strong team and a technical components create favorable conditions for the active development of platform.
The growing fintech segment of crowdfunding, complemented by project management capabilities of chatbot support, have the potential to revolutionize this market.
The platform provides users with opportunities to implement their own projects. And investors have an additional tool for project evaluation on the part of the active platform users, allowing them to better evaluate every project.
The information contained in the document is for informational purposes only. The views expressed in this document are solely personal stance of the ICOrating team, based on data from open access and information that developers provided to the team through Skype, email or other means of communication.
Our goal is to increase the transparency and reliability of the young ICO market and to minimize the risk of fraud.
We appreciate feedback with constructive comments, suggestions and ideas on how to make the analysis more comprehensive and informative.