Winding Tree has a long road ahead to build the decentralized open-source autonomous platform that the travel industry is waiting and needs, and after a successful token distribution we were able to focus 100% on the product development.

Token Distribution

Between the 1st and 15th of February we hosted the Initial Coin Offering of Lif the Lif token, which was the final round of the Lif token distribution, by the time the ICO ended there was ~20 million Lif tokens distributed and after a review of the profiles who signed up for our ICO we finalized the ICO issuing the extra 25% tokens to advisors, future team members and founders. This extra tokens will be distributed with vested payment schedules.

Once the distribution ended there was a maximum total supply of ~25 million tokens, the token was unpaused and it was able to be transfered between users and traded on exchanges.

Detailed Winding Tree ICO results are published here.

Market Validation Mechanism

One month after the finalization of the crowdsale contract that hosted the ICO we started the first validation mechanism for token holders in the Ethereum network, the MVM received 5164 ETH and it will be buying tokens back form users at a floor price that will be changing every month till it reaches 0, all tokens bought by the MVM are burned.

More on MVM status | How to use MVM

Token

Lif is a StandardToken contract provided by zeppelin-solidity, an open source library maintained focused on smart contracts security and maintained by OpenZeppelin, one of the partners of Winding Tree.

Note: Lif is not an ERC827 token yet, the standard was still in discussion by the time we hosted our ICO and we decided to integrate it later (more information in the product section).

Product

Before the ICO we had a PoC of hotel inventory on-chain, a dapp working over a testnet network where users where able to: Create hotels, add and book rooms from other hotels, use a block-explorer for the hotel inventory. The PoC was enough to prove that Winding Tree can be built and is not just a dream, all thought the demo app was slow and was not efficient to host all the inventory of a hotel on the blockchain (for now).

After the ICO we focused on set up a workflow for our open source repositories and we released the first stable version for our contracts, libs, apis and demo app.

LifToken — 0.1.0

wt-contracts — 0.1.0

wt-js-libs — 0.1.0

wt-nodejs-api — 0.1.0

wt-demo-app — 0.1.0

We also published our contracts and js libs to NPM.

Partners

Hotels and Airlines

We had calls regularly with our travel partners, we talked mainly about how a blockchain solution like WT network would be integrated in their services and introducing them into blockchain, an amazing but complex technology.

With our hotels partners we took the discussion further and started designing together how the first solution for the hotel industry will be.

OpenZeppelin

We were working closely with zeppelin team collaborating on token standards, smart contracts upgradeability and state channels on-chain.

Our contribution of the ERC827 token standard, and extension of ERC20 was successfully merged into zeppelin-solidity, the ERC caught some attention and it changed a lot since the first implementation thanks to the collaboration and review of the zeppelin team and members of the ethereum community.

We also collaborated on experimental implementations of token upgradeability in the zeppelin labs repository, and we are now designing the token proxy for the Lif token that will be deployed in the following months.

For last we have a pull request in progress of a simple simple implementation of state channels for ERC20 tokens.

RSK

We met with RSK in Buenos Aires the first days of March and we discussed about how an integration of Winding Tree in the RSK testnet will happen.

We are exited to deliver a working solution for the Bitcoin network and we believe that RSK is the way to go, during the next months we will focus on have a working version of the WT demo platform in the Bitcoin network too.

Team

Before Lif ICO we where a team of 4 developers, now we are 7 and we are looking to grow our team to 10 people.

Jakub Vysoky — Prague. Github kvbik.

Augusto Lemble— Prague and Buenos Aires. Github AugustoL.

Matias Smith— Buenos Aires. Github MatiOS.

Jirka Chadima— Prague. Github JirkaChadima.

Robin Gottfried— Prague. Github czervenka.

Martin Bilek— Prague.

Nicolas Calabrese — Argentina. Github skkr.

Events

Apart from building the platform, launching the ICO and managing community — the team has done an outstanding job educating the industry on the disruption opportunities that Blockchain technology is bringing to travel.

We gave talks at top notch Blockchain events such as Blockchain Summit Barcelona, Unlock Blockchain and you’ll see us at the Future Blockchain Summit in May as well. We took part in Internet World Expo and SXSW. We delivered talks at the leading industry events such as ITB Berlin, EyeForTravel, HEDNA, Think Future Hamburg and Winding Tree will be leading the first and only hands-on workshop on decentralized travel distribution on Blockchain at the upcoming Travel Tech Con 2018 (June 7–9, San Francisco)

Whats next

On the next quarter we will release a new version of the WT tech stack, we are rewriting the library and api to make it more user friendly.

We will deploy a new Lif token that will be upgradeable and finally integrate the ERC827 token standard. The same token will be deployed over a testnet network alongside with our new dapps with real hotel inventory over it.

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