Earlier this week we had the great pleasure to announce our very first use of WINGS DAO which marks the beginning of a limited pre-beta production release of WINGS DAO functionality on the Ethereum mainnet for providing feedback and valuation of the Bancor crowdfunding which will occur on Monday, June 12, 2017.

As many of you are keenly aware, many crowdsales and ICOs on the Ethereum network have reached their caps in matters of seconds. In our opinion this means that the teams and their advisors simply don’t have an easy way to value their crowdfund. By not being able to price their ICO to the market sentiment, they are missing potential early adopters and selling their tokens for cheap, instead of using them for their project promotion and development. We believe that WINGS solves this weakness during the current bullish market; and if the market turns bearish, leveraging the WINGS community social graph could bring extra funding and liquidity.

Bancor Network Token (BNT) fundraiser price discovery reward

As stated in the joint press release there will be up to $250,000 in BNT and ETH tokens allocated to WINGS DAO members who accurately forecast the amount of the Bancor Network Token contribution fundraiser. The reward to the WINGS DAO will be based on the following logic:

1% at $10m funded = $100k (50/50 BNT ETH)

0.5% at $20m funded = $100k (50/50 BNT ETH)

0.4% at $30m = $120k tokens (50/50 BNT ETH)

0.4% at $50m = $200k tokens (50/50 BNT ETH)

Cap of $250,000 forecasting reward

Since this particular valuation opportunity is happening before the launch of the WINGS Beta, and Bancor is using their own smart contract with WINGS integration, the reward will not automatically flow from Bancor crowdfunding smart contracts into the WINGS rewards system, which is not online yet. After the conclusion of the Bancor fundraiser and once the WINGS rewards system is running on Ethereum mainnet, then we will inform the community how to collect the ETH, BNT and WINGS forecast ratings rewards.

Also do note that the terms of the Bancor fundraiser are such that there is at least 1 hour of availability to participate, and there is a hidden cap that kicks in at the 1 hour mark so do your valuation accordingly.

BANCOR AMA

The WINGS team will host an AMA with the Bancor founders on Wednesday June 7, 2017 at 8pm (Israel) / 7 PM (EU) / 1 PM (Miami) / 10 AM (Pacific).

We will be interviewing two of the Bancor founders:

Guy Benartzi, CEO

Eyal Hertzog, Product Architect

The AMA will start with a 45 minute Q&A using a video livecast: