Topic: WINGS ★ Where DAO Unicorns Are Born! ★ Token launched! - page 386. (Read 522763 times)

Hello Team,


I sent XRP donations from POLO. Is there an issue/problem sending donations from an exchange. Must we send donations from a wallet. Are my donations OK.

Great project!

Thank you very much

You all should read the white paper.  https://wings.ai

WINGS is a platform for proposing, valuing and forecasting on the success of a project, providing the smart contracts for taking in funds as well as project governance (decision making). As well as other add-on Dapps like chatbots to make interactions with a DAO easier and accessible via mobile; or the WINGS bounty application to allow projects to engage, develope and reward their community for various tasks necessary to the realization of the project.

Just like kickstarter and indiegogo (or other crowdfunding platforms for that matter) do not keep stacks of money waiting for projects to come along, neither does WINGS.  WINGS provides the platform and the community to suss out which projects are good, value them, put forecasts on if they will achieve their milestones, and a project governance layer so that project funders:

a) can get a curated list of projects that are judged by the WINGS DAO community to not be scams

b) get a valuation of the project from the community, so that they can get an idea of how much the project should raise or is valued at

c) get forecasts on the ability of the project team to execute and deliver on milestones

d) get control over project governance and make decisions as a DAO in case something goes wrong and if the project team needs the DAO to make certain decisions (i.e., how big should transaction blocks be, or how should fees operate, or should we approve some new code upgrade).

This (a) lowers risk for people, and (b) puts power back into the hands of people who fund a project.

I may think the project is about his tech development.

If the ICO money is just for developing the technology then how DAO members will fund projects/proposals?

Wings is a good project with strong team .

This is indeed correct.  WINGS is not a "fund".

Regarding chatbots, this has been part of the WINGS story since Day 0 and we believe necessary to mainstream people to interact easily with DAO smart contracts.

Chatbots are helpful many times. You don't have to visit website to perform some functions. You can instruct chatbots to perform some functions.

They would be using the money raised for developing the technology.

No, they are not using ico money for funding the proposals. Wings does not fund any proposal. It would be users of wings who would invest in them after Wings Platform is launched.

They have said that they have enough to launch Wings with what they have collected so far.

Now its just a matter of how many features Wings will get.

wings.ai can you tell me what is going to happen if the first goal is not reached? What will happen to the less than 5000 btc raised?

Also i still don't understand what will happen to all the money raised (please don't tell me to see roadmap) I don't understand the roadmap, to me is just a bunch of letters that doesn't tell me anything, the last DAO of slock.it that failed, at least all the 100 million dollar there raised was strictly to fund projects of proposals posted by the own DAO members. With your Roadmap is just telling me, first 5000 raised will be for enabling chatbot v1, who cares about chatbot? I don't know why i have the impression that you guys are charging for the technology? Like with 5000 BTC we'll enabling you THIS, Instead of with 5000 BTC the DAO members will have 5000 BTC to decide which proposal(s) they want to fund.

Please enlighten me.

If the registration will improve their genuinity, I think it will be safer for investors then. The increase in the number of these ICO is scary and cautions should be made, and stringent measure to reduce scam and failures.

You should really check the updated Swiss laws, after all the scandals you have mentioned Swiss got so much pressure, that it basically did a 180 flip and now one of the most transparent countries in the world.
For example:
http://www.taxavoidancestrategy.com/why-former-tax-havens-like-switzerland-and-luxembourg-are-no-longer-tax-havens/

As per the donor definition you brought, the full definition also means that you don't get anything back, while with Wings (and any other crypto projects) you get a trade-able token which may appreciate in value due to the demand created by the platform adoption and the network effect.

We all know the reasons all these guys are running to Switzerland to register the company (called now foundation), they are only going there to protect themselves not the investors. In my country most of if not all corrupt officials have been accused to have Swiss bank accounts because the country allows for some kind of protection for these people. I will appreciate it, if you guys will stop running to Switzerland to register your company. You are just talking novice investors for granted.


Donor: a person who gives money or goods to an organization

Investor: a person who puts money into something in order to make a profit or get an advantage.


Just check the dictionary mean of this two terms. A donor is a giver.

Thank you for giving your Bitcoin to Wings foundation.

Being a non-profit foundation, Wings will not (and can not) apply to VC capital. We will remain solely community funded.

As stated several times before, we have exactly the same structure (and even the same auditor) as the Ethereum Foundation. In fact, you are welcome to compare the Swiss registrar entries:

• Wings - https://zg.chregister.ch/cr-portal/auszug/auszug.xhtml?uid=CHE-260.486.110
• Ethereum - https://zg.chregister.ch/cr-portal/auszug/auszug.xhtml?uid=CHE-292.124.800

This means we are obliged not just to the campaign participants but actually to the Swiss government as well, which expects us to deliver a working product and audits how the collected funds are used. This makes "running" with the money completely impossible.
Regarding the foundation tokens, as it was previous mentioned (and emphasized in Wings Terms of Campaign), they will be locked in a vesting mechanism and be released to foundation members gradually over the time.

Speaking of Golem for example, there are also no investor relations with the participants whatsoever, you are welcome to comb through their agreement, and see they giving tokens in exchange for the transactions - exactly as we are doing:
https://golem.network/doc/GNTterms.pdf

However as Wings can be used to launch any kind of projects (possibly nefarious as well), we had to go extra step in order to make sure everyone participating in the project will be completely protected, and designate all activity as a non-profit foundation, sponsored by the community donations.


Giving incentive (either in form of bounty in crypto area, bonus points in mainstream, etc...) is a common practice to boost project awareness. ICONOMI did exactly the same as well.
Regarding them designating their campaign as investment, we preferred to follow our experienced legal partner advise, especially with the SEC rumored to take interest in ICO's lately.


If you read the Wings Terms of Campaign, you will see that foundation tokens are locked in a vesting-like contract, and will be gradually released over the time, making impossible for any foundation member to sell a large portion of them immediately.

I was shock to see the terms DONATION on their website, I'm 100% certain that most people did not read the terms and conditions and decided to invest blindly, I don't think the so called donors see themselves as donors but investors. I think something needs to be done to protect investors. Can wings team tell me they will go for funding from VCs and will tell them they are not investors but donors.

I think we need people on this forum who can provide legal advice and services to people interested.

It appears that you have something personal against our project or / and team, otherwise I find it hard to explain how you mixed so much negativity into a single post. Still, you took the time to raise your concerns in public, and we feel obliged to answer on them.


You really should look into SEC regulations including Howey test for unregistered securities, and how SEC can pursue any company worldwide that has even a single US based investor, before posting such statements. Rather than rushing into ICO (which we could do as early as June), we spent 5 months deeply studying the subject, including working with one of the leading legal companies, in order to set up the best available structure that will protect us, our users and the companies that will be using Wings. Designating any transaction as a donation is a part of the structure, and it has nothing to do with any of the other reasons that you have mentioned.

For the matter of fact, one of the most successful altcoin projects Ethereum, was also set up as a non-profit foundation (and actually done by the same legal team), would you accuse them as a scam because of that?


We don't have any relation whatsoever to Synereo, which also to my best knowledge is a US LLC company, rather than a Swiss non-profit foundation. Same with the DAO, and the only relation to Lisk, is that we shared same team with its founders (Max and Olivier), taking no part in Lisk campaign (beyond supporting Crypti until the transition to Lisk was completed). I'm sorry if you lost any money on these projects, however you really should address these concerns with these project leaders, rather than projecting this experience on us.

It worth emphasizing that one of the main reasons that Wings was established in the first place, was to bring more accountability to the crowd-funded projects, and returning control back to the project backers via DAO mechanics. We hope that once people see the benefit in such control over projects, they will demand from the project creators using Wings or / and similar platforms, in order to make sure the creator sticks to the original commitments, including how many project tokens the creator has access to.

Knowing personally both the people behind AMP and Wings I'll say there is nothing alike between those two projects....AMP lead man is well know for his enthusiasm for personal gain...that's not the deal with wings guys ill tell you that...
Stating investing as donating may not be the smartest thing to do but shouldn't be the reason not to invest here...

Donation means give away, they don't care about people lose or earn from ICO, especially AMP. I wish Wings is legit, but there were too many local spammers in this campaign, so they need to eliminate all the spammers.

Perhaps people see glaring red flags and are avoiding it like the plague    The biggest red flag of them all is as many people here have correctly voiced concern about- The team's  incessant  use of "donation" plastered in all of their marketing and on their site that is making people uneasy about "donating" lol.  Let's put our rationale caps on, would you go in and buy a car or a TV or invest in a stock, where the salesperson tells you that the funds you are paying the company are "donations" to them??  No one in their rationale mind would make such a purchase or investment.   Merriam Webster defines donation as "free contribution".  They are pretty much flat out telling you whatever you're giving them is a free contribution with no expectation of anything in return.   Additionally, they also flat out admitted that have been bribing people to create twitter hype.  Contrary to them claiming this is the norm, this is actually not true. Let's take a look at ICONOMI. This is straight from their site:  ICONOMI provides an opportunity for investors looking for high profits, not possible in the old economy. With newly developed financial instruments, ICONOMI will drive new investors and fresh capital into decentralised economy.  

I implore people to put  2 and 2 together and see this for the scam it is.  The other coin to make a big use of "donation" is Synerio AMPs and the donators lost 70% off the bat after the insiders dumped immediately after the ICO was over.  History tends to repeat itself and people are cautioned not to donate on the basis that Wings folks (who are ex crypti and you see how well that worked) themselves are flat out telling you that whatever you give them is a free contribution.   Please buy this snake oil which is only snake oil and won't do anything for you.  C'mon, they're freaking telling you flat out its a scam!

Maybe they already have some funds or certain prospects but not enough for their cap target reason why they made an ICO. It looks good and impressive. I can see others will follow. Anyway people are still expecting Wings to reach at high amounts as there is still so much time left.