Five months after a successful backing campaign, in which the Wings project collected just under two million dollars, the WINGS token has finally been released on the Ethereum blockchain and it is now trading on the Bittrex exchange’s BTC and ETH markets. Prior to its release, the WINGS token smart contract was audited by three different entities: Open Zepplin group, Peter Vessenes of New Alchemy, and Marco Polci of Digital Identity.
While the WINGS team is currently in talks with popular wallets to provide support for the token in their platforms, there are multiple ways for investors to secure their tokens, the most simple of which is MyEtherWallet.com (Read the guide here). The WINGS token is also compatible with the new Gnosis multisignature wallet, which can be used with Parity, Metamask, or Mist wallets.
For those that don’t know what the WINGS token is or what it does, this token empowers the members of the Wings community with the ability to forecast the success of projects and proposals submitted to the Wings Platform, allowing them to be rewarded according to how accurate their forecasts are.
The Wings Platform is a decentralized platform specifically tailored for the creation, vetting, valuation, promotion, funding, and decision making of decentralized projects. A hub where developers can kickstart their projects and where investors can easily navigate the world of cryptocurrency investment thanks to the help of the aforementioned forecasters (WINGS token holders).
This ecosystem provides endless possibilities and eases the process of launching a DAO or crowdfunding campaign in the blockchain realm. Project creators can choose between various backing campaign settings, governance models, milestone stages, and more.
Take the recent Gnosis token auction which amassed over $10M in exchange of ~5% of their token supply in roughly ten minutes, giving the project a valuation of +$300M. This type of “dutch auction” contract will be available for projects raising funds on the Wings Platform.
Another relevant example would be any unfinished or abandoned project that gathered funds from the community. The Wings Platform protects investors through its milestone system that releases funds to the developers according to the goals achieved. Within the organization, token holders can also vote to replace or fire the project’s development team.
The Wings foundation is also building an ICO smart contracts library that will allow anyone to customize ICO contracts with similar characteristics to Dfinity, Matchpool, TaaS, Gnosis and other iconic ICOs.
However, WINGS’ potential does not end there. The tools provided by the Wings Platform make it a powerful technology that can also be used in mainstream areas to improve the current decision making process of traditional business models, saving time and resources.
If you want to learn more about the Wings Platform and WINGS token, you can visit the official website and read the whitepaper. You can also get a feel of the Wings Platform through the Wings Alpha platform. Click here to learn how to use the Wings Alpha platform.