The WINGS Platform is a Decentralized Autonomous Organization (DAO) launchpad. It allows anyone with or without coding experience and technical knowledge to easily create their own DAO. The platform itself is community-managed by the WINGS DAO token holders. According to the success of the backing campaign, WINGS plans to introduce a decentralized forecast markets governance models in which users reward for forecasting the best developments for the platform.
After the release of the much-awaited white paper and technical whitepaper, the WINGS backing campaign period has finally been announced. It will start on the 30th of October and it will last for full seven weeks. During this time, a yet unknown amount of WINGS tokens will be distributed to project backers. These tokens will allow users to participate in decentralized forecast markets that will determine, among other things, how likely it is for a project to receive sufficient funding. This system determines the quality of the project according to the wisdom of the crowd and rewards the token holders that participate accurately in the forecasting process.
Once the forecast period ends, the project will start its funding stage, and the WINGS token holders will be rewarded with tokens from said project or a portion of the funds raised by the project, according to how accurate their forecast is and to other ranking factors built into the WINGS Platform. A smart contract system is then created for the project with its underlying token being distributed to its backers. The funding gathered can be released to the developers of the newly created DAO according to the milestones defined in the smart contract.
The platform will also allow users to forecast by themselves or to delegate their forecasting power to users that have a successful forecasting track record.
The WINGS DAO will launch as a Rootstock (RSK) side-chain and will later on evolve to its own blockchain that will allow users to participate with Ether or Bitcoin (in the form of Rootcoin) in a multi-chain fashion, with the option for more popular blockchains to be supported in the future, allowing anyone to become a project backer regardless of which cryptocurrency they’re holding.
More information about the WINGS backing campaign period and about the specifications of the platform will be released in the following weeks. Users can keep up with project developments by following the official blog or subscribing to the newsletter.