Updated: Dec 21, 2019
Wings is a blockchain platform that allows its users to create and manage various decentralized autonomous organizations (DAOs) by using a mixture of prediction marketing, standard DAO governance, and crowdfunding for goal realization. The decentralized nature of Wings means that users are responsible for auditing and validating all transactions.
WINGS is the platform’s cryptocurrency, which is used towards investing, creating, and managing other blockchain projects.
This guide will explain what Wings is designed for, the team behind it, the way it works, and various uses and applications.
What Is Wings Designed For?
Wings is designed to solve the primary struggle of startups to get off the ground, with feedback and crowdfunding from the public. The platform facilitates an efficient collaboration of users from all over the world, allowing investors and funders to work together to solve DAO-related problems.
The primary goal of Wings Coins is to encourage users from around the world to partake in joint decisions about the future, chalking out the roadmap of future projects listed on the platform. The implementation of these proposed projects is made possible through the analysis and intelligence analysis of all users. WINGS owners on the platform are given the responsibility to evaluate all proposed projects, based on different criteria of feasibility and to ascertain the potential of a business idea.
Who Is the Team Behind Wings?
The Wings project is managed by Stas Oskin leading a Russia-based team. Oskin has over 10 years of experience in management, engineering, and product development. Boris Popov is the blockchain engineer who also works as a consultant for the Lisk cryptocurrency.
Other members of the core team include Sergei Popov in the capacity of a scientific advisor, Artem Gorbachev as the math model developer, and Anton Bilyk.
How Do Wings Work?
Wings work by allowing project developers to submit their proposals on the platform. Investors, benefits, and free access to the finished products are typically offered through crowdfunding methods. However, on Wings, these benefits and access are granted through a novel share approach.
WINGS is offered to investors for participating in all future decisions that could affect the project, and entitle them to a share of future profits distributed through Smart Contracts. A kind of Swarm Intelligence is used to analyze the feasibility of the submitted projects. WINGS owners evaluate the proposed projects.
Risk assessments, forecasting markets, and the calculation of potential profits are taken into account to determine whether a new project is feasible or worthwhile. Additionally, the team behind individual projects is also evaluated on the same parameters. WINGS holders ascertain whether the team is trustworthy and reliable to carry out the project. They also determine whether the business plan is realistic or a money drain.
What are Current and Future Applications of Wings?
WINGS is very popular as an investment vehicle. It is decentralized and is not subject to any ever-changing central bank monetary policy. With WINGS, users can benefit from suitable capital returns. Also, because the value of WINGS ebbs and flows with supply and demand, the coin is in a position to increase rapidly in price if and when the market of cryptocurrencies gain traction with the general public.
Users can also convert their WINGS holdings into something less risky or sell them all together. The tokens can be used in a plethora of ways, including Wings Poker.
One of the foremost uses of WINGS is its function as a token on Wings’ blockchain platform. The token is used towards making payments on the platform and participating in other ways. DAO members holding the tokens can forecast on the numerous project proposals. This also allows them to receive additional WINGS for future campaigns.
Wings is a revolutionary concept in the crypto space. It provides crowd funders the opportunity to interact with potential projects and offer their feedback. Currently, there are no other DAO technology or crowdfunding projects on the market, which enables such interaction between a potential investor and companies.
The Wings team hopes that in the future their technology will become so rampant and instill such confidence in people, for investors looking at a new business model will question the number of WINGS it has.
Wings is not without its limitations. Scalability is one of the primary drawbacks of this platform. Also, the idea behind Wings is not expected to catch on quickly. This led to Binance delisting the coin in February 2019. However, the team is trying to make a comeback by enabling user interaction and usage through artificial intelligence.