During Q1, among other things, the team has been extremely busy restructuring and laying the foundations for increased development performance. In result, while we are working in parallel on the new blockchain direction, we were able to release FEATHER, the WINGS design toolkit, and open-source our lightweight wrapper library.
Since its inception, WINGS DAO was designed to become a decentralised protocol, owned and managed by a distributed, autonomous organisation of collaborating developers and community members. And while the end goal was always clear, the road to it was often long and tangled. Today we would like to present a preview of one of the mechanics we have been working on, a milestone that will finally take us closer to that end goal — the WINGS Protocol upgrade system, which will enable the community to propose, vote for and fund new features and functionalities for the WINGS ecosystem.
The upgrade system is a tool that allows community members to propose and develop changes to the WINGS Protocol. Anyone that has an idea that they believe would make the WINGS Protocol better, more secure, or increase the WINGS adoption, will be able to create an upgrade proposal. The upgrade process is designed to be as simple as possible, and requires only a few steps:
1. A new upgrade proposal is created
2. The proposal is reviewed and is voted on by the community for approval/rejection, initially defined by a majority of voters. A minimum number of tokens participating in the vote will be required before a resolution can be reached, currently being 20% of total WINGS tokens supply). (Both the approval percentage requirement and the minimum number of voting tokens required, are subject to change prior to release.)
3. The community funds the proposal (if the proposal requires funding)
4. If approved and funded, the development process begins
5. The new code is submitted for review
6. If approved, the new code is integrated into the Protocol by a Warden (see below):
A Warden is an elected entity such as a trusted community member, that is allowed to merge code into the mainnet branch. A Warden’s task is to (i) verify that the submitted code matches the approved proposal description and (ii) to ensure that the proposal is logical and was approved by the community properly. A Warden may reject an already approved proposal and request a higher majority and/or higher vote participation rate if the proposal introduces significant, risky or illogical changes. The initial Warden will be the Wings Foundation, with a mechanism to elect additional Wardens or replace existing ones to be introduced in the future.
Below you can find a few screenshots from the upcoming system; please note, that this is a preview only, and the final functionality might differ.
It’s also important to note that the above mechanics will have a special role in the upcoming new WINGS blockchain. We will be posting more information as the new blockchain’s features are finalised.
More to come, please stay with us while we make WINGS great again, together!
Today we are excited to announce the next piece of WINGS technology that is being open sourced — the WINGS Lightweight Wrapper, a highly optimized Ethereum RPC library which simplifies and accelerates Decentralized Applications (DApps) development.
This library can be used for efficient development of complementing back-end components for DApps, which are interacting with the Ethereum blockchain. Serving as an alternative for the popular Web3 library, the Lightweight Wrapper allows developers to enjoy a range of improvements:
A lightweight and robust operation which significantly simplifies the work with smart contracts
A highly optimized system which enables rapid development without the need to delve into Web3
Supports batching of RPC requests for increased scalability and cost savings
As we continue with our plan to open source different WINGS components, we invite developers to peer-review the code and submit pull-requests. We will also be launching a bounty program during Q2 in order to encourage the community to participate in the WINGS development process. More details will be posted in future blog posts.
As a part of our commitment to transparency and open communication with the community, we begin a series of periodic blog posts aimed to outline what we were working on. Each post will reveal new developments, new additions to the WINGS team, events, or new initiatives that we may be launching.
Moreover, we are starting to open source the WINGS tools and code, in order to encourage the community to join the development effort, and will be launching a developer bounty program soon, rewarding those who will contribute.
We begin by announcing FEATHER, the visual identity open source kit, which will enable anyone to develop tools and services for the WINGS ecosystem, and maintain the same high standard look & feel of the WINGS software. The kit includes design tools which allow developers to focus on building actual value, rather than spending time on UI and graphic elements.
We invite you to try out FEATHER, the first WINGS open-sourced project. Experiment, build your own DApps or centralized solutions and contribute back improvements and bug fixes. We are attentive to ideas and feedback, and we will be incorporating good suggestions and contributions in future versions of FEATHER, for the benefit of the WINGS community and the blockchain ecosystem.
We recognize that we have chosen the wrong direction in the development of Wings, we understand that the publication of such projects will not lead to any results. So we changed the sorting of projects in order to remove them from the home page, in the future we will most likely remove them.
We will resolve the issue with FR, we will refund FR to those who lost it upon cancellation; we will publish more detailed conditions next week, this will be done in several stages. We will accrue an additional FR to all those who made forecasts before block 7257778, including those who canceled forecasts.
Also we are planning to launch our Discord channel on monday. Link will be posted in our social media.
We always try to take in consideration the opinion of the community and we are proud of our openness and honesty about these promises since the first project to many people known as Crypti. In the near future we will prepare everything necessary to regain confidence. We will become more sociable, open to the conversation, go partially to open source (github), etc.
Finally , we are working on a blockchain platform, which will be aimed to solve the problems we encountered while we were developing WINGS and give more usage for our tokens. In the near future we will try to slowly begin to reveal our ideas.
WINGS - Latest updates was originally published in WINGS DApp on Medium, where people are continuing the conversation by highlighting and responding to this story.
On Friday, the unfortunate news came to us; Binance announced that WINGS were among the projects being delisted from their exchange. These news have saddened us, as WINGS has been listed since the early days of Binance. As all the required information by Binance was always provided in a timely manner. The delisting was a big surprise for us, since we have not received any notification about the pending delisting, hence had no chance to resolve any issues they may have found with the project. In fact, up to this very moment we have no information why Wings specifically was picked, despite our repeated inquiries to Binance. The whole ordeal is quite disappointing to Wings team, exactly as it’s to Wings community, yet the team is motivated and will continue implementing the Wings vision.
Reactions to Binance:
Commitment of team to project
The Wings team is as committed as always to the project, having been working on Wings since early 2016. All of Wings team members are working full time (and often overtime!) on the project, striving to make the best technology and platform.
Level and quality of development activity
The R&D team of Wings have been making significant advanced in building Ethereum DApps, on the Smart Contracts level, Back-End and Front-End. Some of the work was open-sourced (https://github.com/WingsDao), more of the work will be open-sourced as well during the next few months. Wings Smart Contracts have been audited by multiple providers, who always noted a high quality of Wings work.
Network /smart contract stability
Wings is based on mature, stable Smart Contracts developed over the years, and on a recently rewritten Back-End, which has significantly accelerated the processing. There were absolutely 0 hacks or fund losses due to these technologies. The Front-End is still being rewritten, which have caused some issues in past, yet they usually have been resolved quickly.
Wings also has an active Twitter and Reddit channels, and periodic newsletters. The Wings team members are present in Wings telegram chats, answering on community questions. As the community has raised concerns about the communicated content, Wings is currently engaged in reworking the community engagement program, which results will be visible in the near future.
Responsiveness to our periodic due diligence requests
Wings always had on highest priority answering on Binance due diligence requests, providing them with absolutely every information needed.
Evidence of unethical / fraudulent conduct
During the whole Wings history, the Wings team always performed up to the letter of the Swiss law, as expected from a non-profit foundation under the Finma supervision. In fact, Wings has recently passed a gruelling audit leaving no stones unturned, which has proven that all Wings resources are managed and spent extremely efficiently.
Contribution to a healthy and sustainable crypto ecosystem
Wings has served as point of reference for tens of thousands of users during 2017 and 2018, providing community opinion for dozens of well known projects. Thanks to Wings community, the crypto ecosystem participants could always be informed about projects strong and weak points, and be better informed while making their decisions. While the ICO market has taken a downturn, Wings is working hard to reinvent itself and continue to provide a value to the crypto ecosystem.
Wings went through a major restructuring over the last few months, in order to become leaner, quicker and more effective. The results of this restructuring will be visible in the next few months already.
Communication with community and increased transparency has been put in priority. Wings has appointed a new marketing manager, who is building the new communications plan these days. Part of the said plan will be launching a separate Discord channel for Wings.
The projects listing initiative will be scaled back, in order to focus on quality projects, thus allowing more time to review and forecast on them. The existing posted projects will be reviewed for low quality or potential scams, and such projects will be hidden from the platform.
Solution for FR revoking issues in Smart Contracts will be deployed soon, and FR penalties will be amended to assure a fair penalty in case of forecast cancellation.
Locking mechanism is going to be reviewed, taking into account community consideration of global lock, compared to per-project lock as it was in Alpha.
Roadmap will be updated and posted on Wings site, taking into account Wings recent research results.
Last but not least, we will start providing more information about the Wings new decentralized platform initiative, which aimed to make Wings more versatile and able to support new types of uses and applications.
We would like to thank all our community members, who stay with us and continue to support the project, despite the recent events.
It was a memorable year, where we had victories and defeats. However, we continue to move forward with the desire to become better and more productive in the new year, engaging in maintaining existing functionality, experimenting and creating new technologies.
During this year we worked a lot on the frontend part of the project, optimized the site, translated the user interface into many languages, corrected many bugs, also we will continue to optimize UI / UX. We rethought the idea of forecasting and based on previous experience, explored new interesting directions. We also updated the backend, solving many internal problems, became more mobile and faster.
According to the plan, the new year should please us with a delegation feature and new directions that we have already begun to work on.
We wish you a Happy New Year from our team. Thank you for being with us in 2018!
Coin Price Forecasts — Never Lose Money Again (maybe)
I personally don’t know anyone in the crypto-sphere who hasn’t lost a TON of money this year! Many fund managers I’ve spoken to are anxious to see some coins come out on the market and what price they will garner. If you are making serious money in this market please contact me there will be a reward. Until that happens we are introducing a new phase for WINGS expanding beyond forecasting ICO and TGE valuations into forecasting coin prices after they begin to trade.
Opening up the system to these types of forecasts is a natural progression to helping safe-guard buyers and investors of virtual currencies. In the WINGS forecasts that were conducted in 2017 and 2018 we found that in general the crowd was accurate within an error rate of 30%. While we believe that this is great for an early system and will continue to improve over time we also noticed with the recent market crash that predicting a valuation for a fundraising event is not enough. Since the market crashed nearly 90%, if we can also be that accurate at forecasting a coin’s price 3 months to 12 months in advance it provides an added risk-tolerance dimension for holders, traders and speculators to consider.
For example, if an ICO or STO valuation come out at $100 Million, yet the crowd believes that the token will be valued at $10 Million 6 months later one may think twice about buying in too early and rather prepare a strategy that includes averaging in over time rather getting into the FOMO mode and blowing all cash to then lose it (like many of us did in 2018).
How It Works
Coin price forecasts work more or less the same as funding event valuation forecasts where the WINGS Dapp front end will calculate the median forecast. These types of forecasts in general will either ask for the unit price or will ask for forecasting the market cap for a set amount of coins. However, the main difference is that they don’t progress to a crowdfunding state and will have multiple parties from where the forecaster compensation will come from. At the current stage these forecasts will only give out Forecast Rating (FR) reputation points, but the team is working on enabling a new crowdfunded rewards contract type which will allow multiple parties to fund such questions to maximize number of forecasts and forecaster rewards. More on that later.
Telegram Open Network “GRAM” price forecastWhy we choose the Telegram Private ICO
The Telegram Open Network private round ICO was one of the biggest crypto-oriented crowdfunding events and brought to the community by an established player in the instant messaging space; what’s more interesting is that the price of GRAM started at $0.1 and ended at $1 when all were sold out; and to spice things up people were paying several dollars in the aftermarket. Needless to say the price paid was all across the board and with the recent market crash those who invested must be wondering if they will be big losers or big winners. That’s why WINGS is here to help shed some light.
Hi! My name is Vagelis and I come from Lamia, a small city of Greece, that touches on the one side the mythical Kingdom of Achilles and on the other side the legendary battlefield of Thermopylae. I studied Computer Science at Athens University of Economics and Business and got a Master’s degree in Entrepreneurship at Blekinge Technical Institute of Sweden.
My early engagement with crypto industry took place 6 years ago when I was trying to assist a friend in building mining machines. Although this task seemed too complicated for that time, this experience was exciting as it provided me with a brand-new perspective on economic and financial issues. Security, transparency,as well as privacy, have become the main focus of all blockchain enthusiasts bringing together professionals from different parts of the world. I believe that crypto solutions will empower global businesses to make their operations more secure leading to significant improvements in all areas. Although there are still contrasting points of view on the use of blockchain and crypto innovations, I am sure that we will see significant growth in this sphere. I enjoy working in the cryptocurrency field as I like to observe how emerging technologies are transforming the global economy and making the world better.
Over the past 10 years, and after my exchange studies at Humboldt University of Berlin, I started seeing the world as a global citizen. I joined ESN, one of the biggest student organizations in Europe with the aim to promote student mobility and lifestyle. There, I had the chance to design and organize more than 100 international events and projects and travel around Europe. At the same time, I gained valuable work experience in big organizations in the IT field around Telecommunications and Public Administration and finally joined IBM, where I spent the last 3 years working on projects for the biggest global brands.
Some months ago, I decided to abandon the hardcore corporate life and join a way more exciting, challenging and innovative venture. In WINGS Foundation, I am responsible for projects related to Content, Public Relations, Communications, and Event Management.
Observing how technologies change the way people approach daily operations made me fascinated by IT industry. When Bitcoin, the first cryptocurrency, was issued by Satoshi Nakamoto in 2009, I felt that the world has changed. This invention differed much from all previous technological innovations since it was created to bring new values to the global community rather than making profit for already successful multinationals.
As a Project Manager, I am interested in the way crypto solutions change workplaces making teams more agile and diverse. At the same time, this change created a need in a new form of corporate culture, that could meet the needs of remote teams and motivate them to bring new values to the world.
These challenges motivated me to join the WINGS Foundation where I help to establish and coordinate teams that work together to improve forecasting experience of community members. Managing a multicultural team is challenging, but diversity and a unique team spirit are what makes us stronger and better every day. Each of us is inspired by the idea of revolutionizing the marketplace and making blockchain technologies popular on the global market.
Many people have thought WINGS was just about easily launching ICOs for their DAO. In fact WINGS is much more than that particularly when something of value is being sold it is an opportunity to further train the WINGS forecast rating system and community to become better at making financial forecasts.
WINGS aims to provide an independent and decentralized coin/token curation and valuation benefit to the global community of crypto users and coin buyers. The more projects the community can review, the more brand and search recognition WINGS will have, and the better the forecast community can evolve. The WINGS protocol runs as a set of smart contracts on Ethereum allowing for coins and tokens to be evaluated independently, and where payments for the WINGS valuation service from a project are paid out based on evaluator accuracy in forecasting the funding end state; thus forecasters who try to game the system by inflating valuations suffer from lower forecast rating reputation scores and lower financial renumeration for their poor performance.
WINGS curation and valuation statistics are designed for and coded onto the Ethereum blockchain allowing analysts, developers, service providers, regulators, investors, crowdfunding portals and company founders to access this valuable data to cherry pick good projects from outright scams or incompetent attempts and provide better price discovery in the token sale process.
What is the WINGS Forecast Rating system
The WINGS Forecast Rating (FR) system tracks individual forecaster historical performance which also impacts potential future payments for the forecasting address performance.
FR is calculated based on:
Total locked WINGS amount for a forecast (value of the poll)
How early you made the forecast once the project appears on WINGS
Why Sponsored Listings?
Our analysis of the first batch of forecasts from WINGS production alpha shows that the FR system allows for better accuracy of forecasts, thus we want to give active community members as much chance to show their analytical prowess as possible.
While the listing themselves do not offer any financial reward they do offer the chance to increase FR, which in turn can lead to higher financial rewards on projects which do offer to pay a valuation fee to the WINGS community.
Furthermore, WINGS Foundation will hand off ownership of individual listings to project teams which agree to maintain their project listing page, as well as offer some sort of renumeration to the community for the valuation service.
How it works
WINGS Foundation will identify potential token offerings and post an executive summary and screen shots of a project’s website to the WINGS DApp. The projects will be live and in forecasting mode for up to 1 year.
The community can vote to reject the project (remember this is based on your FR not how many WINGS you hold) or to accept it and value it.
If the project does not take ownership of the listing there are a few scenarios:
if at the end of 1 year there is no token sale with which WINGS Foundation can input the end result, and the project is not rejected the listing will be “cancelled” and all participants will share the 200 WINGS deposit equally
if there is a token sale some time during that year or shortly thereafter, and WINGS Foundation can verify the result, it will input it and forecasters will receive FR points based on the formula mentioned above.
if the project is “rejected” (that means that 30% or greater of the participating FR points, where there is at least 10 participating accounts, have marked the project for rejection), then at the end of the forecast period the WINGS will be distributed equally among all participating forecasters.
Now, if the project does take over the forecast, they will be contractually obligated with the WINGS Foundation to provide some valuation reward in the form of Ether, their native token, or some combination thereof. They will also be obligated to resolve the forecast when their token offering closes. In this case forecasters will receive FR points (if they performed well) as well as some portion of the forecasting reward (again if they performed well).
Why Take Project Ownership
If you are a company founder who is making some sort of token offering via TGE, ICO or STO, or even other methods, you probably need an indicator for how much you will raise so you can measure the impact of your marketing efforts, as well as have a community opinion of your project and indicator for potential investors or buyers to have confidence in the token pricing model.
To date valuing coin offerings has been a mercurial science shrouded in guess-work from dubious crypto economists, but that doesn’t have to be the case with WINGS. As a group top forecasters with WINGS have been able to forecast the end result of an ICO within 30% accuracy. Attracting some of the best valuation forecasters in the WINGS community does have a price though and offering a reward will attract more analysts to review your project. Buyers on the other hand can rest easy that analysts are not paid directly, are only rewarded when they are accurate in their valuation, and hence are incentivized by the protocol to remain objective in their valuation forecasting task.
You probably also are looking for way to differentiate your project from the many scams out there. Various analysts and research reports have shown that between 70–90% of coins offered could be scams. The WINGS community along with providing token valuations is also tasked with detecting and rejecting any undesirable projects from the WINGS DApp. This is accomplished by a completely meritocratic system; meaning that only the earned Forecast Rating points are used to determine whether a project gets a pass, and the amount of cumulative rejecting forecasts’ FR should stay within 30% of the cumulative participating FR points, in order to allow the project stay on active in the WINGS system.