ZUG, Switzerland, March 19, 2018 (GLOBE NEWSWIRE) — WINGS Foundation (wingsfoundation.ch) today announced the Beta launch of its Ethereum-based system for curating and evaluating token sales and token generation events. With WINGS, companies launching tokens can understand their fundraising potential through valuations based on crowdsourced Artificial Intelligence and human evaluations. The WINGS community is incentivized to surface the best projects through an algorithmic reputation system, bringing attention to them among potential investors.
“With 44 projects using WINGS in pre-Beta over the past nine months, we’ve been able to understand and build a standardized set of interfaces integrating custom Ethereum-based token generation contracts into the WINGS system,” said WINGS Foundation Council President Boris Povod. “Our Beta release offers the best decentralized price discovery and due diligence system in the industry, backed by a unique dataset of performance intelligence on our crowd analysts.”
In the new WINGS Beta release, projects deposit 5000 WINGS test tokens to be accepted to the Ethereum-based decentralized application (DApp) and then configure an ERC20 standard token sales contract with no coding knowledge. WINGS users can choose between using a custom contract or a visually configurable smart contract generator. If 50 percent or more of the participating community members forecasting power (by forecast ratings scores) agree that a project should be listed on the WINGS DApp, the project is accepted and given an crowd-powered valuation. If not, the project is rejected and the project’s deposit is given to the curating community.
WINGS community members are also asked to predict the amount that a project will bring in, either in ETH, USD or EUR, to help companies evaluate their fundraising potential and to surface enticing projects for project backers. Community members who participated in the pre-Beta will also have a “forecast rating” assigned to the Ethereum account they used for forecasting.
“With regulators globally turning their attention to cryptocurrencies and ICOs, the WINGS system allows projects to get a community-endowed badge of distinction that separates them from the pack,” said Dominik Zynis, Head of Communications at WINGS Foundation. “WINGS offer a valuable, algorithmic method for the cryptocurrency community to self-police and curate high-quality projects.”
Starting with Bancor in 2017, 44 organizations using WINGS for price discovery have raised approximately $700 million. Projects recently benefiting from WINGS include Aurora DAO, PolySwarm, WePower, CoinDash, DomRaider, AdEx, and Fan Controlled Football League. WINGS incorporates the insights from these 44 crowdfunding events into its new Beta release.
To try out WINGS, visit: https://wings.ai/. Current capabilities include project creation, curation and forecasting, and point and click crowdsale smart contract configuration and presentation. Projects wishing to integrate their token generation or sales contract with the WINGS community and submit to community evaluation can follow this guide: https://www.npmjs.com/package/wings-integration
ABOUT WINGS FOUNDATION
WINGS Foundation is based in Switzerland and comprised of a decentralized team of professionals aiming to bring blockchain-enabled projects to the mainstream via crowd-sourced valuation and curation. WINGS uses smart contract technology to enable a new type of emergent incentivized swarm intelligence for value discovery on the Ethereum network. WINGS provides best-in-class, audited libraries of smart contracts for blockchain-based crowdfunding and for post-funding decentralized governance. To learn more, please visit wingsfoundation.ch
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