Wings is a DAO designed to help launch and manage DAOs. It will facilitate selection, launch, governance of new DAOs. According to Stas Oskin ( CTO at ChainLab & Core Dev at Wings Platform) “As opposed to The DAO, Wings is a platform for creation and management of a DAO, a kind of a Kickstarter for DAO’s.”
100 million WINGS tokens will be distributed during the ICO, of which 75 million will be reserved for the DAO and 25 million to the referral and advisory bounties.
SWOT Investment Analysis of Wings
As a platform Wings will enable new DAOs to be launched, funded and managed more easily and transparently. One interesting twist to this is that DAOs will need to compete for attention with other DAOs being launched on the Wings platform. This will make DAOs easier to compare with other DAOs. Their features and relative competitive advantages will become more evident to would-be investors.
- Wings provides, a breath of fresh air regarding democratic governance methods, in particular, the idea of liquid democracy where users can delegate their voting and forecasting powers to others, who they trust.
- DAO Creators will be able to introduce timelines of their DAO development and milestones KPI (Key performance indicators). These will commit them to specific delivery dates of their project milestones.
- The Wings platform will offer tools that will allow the DAO users to reach a decision more easily and objectively.
Forecasting & Reputation:
- Users on the Wings platform will double up as DAO analysts; they can vote on the viability of new DAO and their business plan. They can also delegate this vote to others. Successful predictions result in higher rankings and tangible rewards. (The nature of the tangible rewards is not clear as of the time of writing.
Ease of use:
- The DAO creation process will become a step by step wizard; no smart contract knowledge is required to create one.
- The founders of new DAOs will be able to showcase their business plans and strong points, including the blockchain details of the project such as coin inflation and the total coin supply.
- The creators have the option to reserve a portion of the funds to Wing users making forecasts; this will increase the number of people looking into the viability of the new DAO.
- Chat bots similar to those used in Telegram will aid the users of Wings community to communicate more efficiently with each other. See more here: https://core.telegram.org/bots
- When a new DAO is hosted on the Wings platform, it has to allocate a percentage of tokens to the Wings platform. That allocation will, in turn, be distributes to the holders of the Wings tokens.
- The reputation of Wings platform will also be tied to the DAOs it will host on its platform. For example, The original DAO “caused” a fork on the Etherum blockchain which created Etherum Classic. Etherum faced some considerable push back from the user community.
- Some DAOs might choose not to use Wings because they want to avoid being compared to all the other DAOs on the platforms. This is probably a good thing.
- The communities can change the rules by consensus or according to the established quorum which the DAO they are part of is managed.
- The founders of any DAO have the opportunity to confirm and publish his or her identity. This will make background checks on new DAOs easier for the forecasters.
- The Wings platform will facilitate smart contracts on both the Etherum block chain and BTC Rootstock side-chain smart contacts.
- Smart contracts and other mechanisms (escrows?) are envisaged to protect the funds invested in new DAOs.
- DAO analysts / users will be ranked by their ability to analyse new DAOs.
- It seems that there are five prospective DAOs to be launched soon. (Oct 2016)
- When new DAOs are proposed users will be notified automatically.
- If the Wings DAO platform fails, what will happen to all the DAOs hosted on it? In a way, the Wings platform will centralise the management of the DAOs in one place.
- Will Wing users be able to create multiple accounts? This would allow them to predict multiple outcomes, gaming the ranking system. Such a system can only be maintained for only a short number of predictions.
- Will the system be too complex for the average user?
- Will new DAOs offer under the carpet bounties for top forecasters?
- Will there be enough supply of new DAOs to finance the overheads of the Wings DAO itself?
How to invest in the Wings ICO:
Start: Start 18th November 2016
How much funding is the Wings DAO aiming for:
Wings are planning to collect
- Goal 1 5000 BTC
- Goal 2 10000 BTC
- Goal 3 17500 BTC
- Goal 4 25000 BTC
- Goal 5 30000 BTC
(these amounts are not Cumulative)
30000 BTC is 21,000,000 US dollars at the time of writing.