Winding Tree ICO results

16,278 ETH raised from over 7,000 backers & 25 million LIF generated Feb 1–15, 2018. Congrats to all LIF holders!

We are finalizing the analysis of Winding Tree LIF Token Sale results and here is the summary.

More on Winding Tree Token Sale page

We’re really excited about the results and the support we got from the community. The ICO was launched on February 1st at 8am UTC and within the first 3hrs we reached the soft cap ($5mln), followed by reaching the team funding goal of $10 mln within the next 6 days.

We’re happy to have achieved significant level of decentralization as the Pre-sale amount (2,418 ETH) comprises only 15% of total amount raised with 10–30% bonuses given to investors who truly believed in our project and decided to invest at the time when we had 0 lines of code written and had no partnerships lined up.

During the ICO the team has done an outstanding job in maintaining integrity, managing the community, educating the industry and most importantly — building the platform. In addition to running an ICO, our team kept actively working with our partners (Lufthansa, Air New Zealand, Nordic, etc.) on integration projects, developing the hotels demo app alpha and developing our new token standard ERC827 which has been accepted and is now part of zeppelin-solidity 1.6.0!

The token sale was uncapped for the duration of the ICO as per our Market Validation Mechanism model, first proposed by Buterin in his analysis of token sale models. From the total amount raised 11,114 ETH is going to fund Winding Tree platform development and the rest — 5,164 ETH — are deposited into MVM smart contract that will gradually release the funds for further project development and will support buy back mechanism.

LIF tokens were unlocked and available for trade on Feb 23, following our internal process of transaction verifications, KYC verifications via Onfido 3rd party software and refunding of non-compliant contributions. Currently, LIF is being traded on IDEX with the community actively engaged in trading & discussing.

During the 2 weeks of ICO we have grown our investors community organically from about 1,000 members to over 7,500 members and received significant press & media features (all shared via Twitter). Our travel tech community organized by Travel Tech Con has shown tremendous interest in the platform and with the news spreading about Winding Tree developing the first decentralized distribution platform & running token crowdsale — we got huge amount of inquiries from travel tech startups in our community asking for tips and lessons learned. We covered those during the last Travel Tech Meetup in San Francisco and we will keep providing more education on decentralized travel distribution, Blockchain in travel and running a successful ICO at the upcoming meetups & Travel Tech Con 2018.

What’s next

The team is actively working on the scheduled product roadmap which we’re ahead of, currently focusing heavily on the Hotels product and expanding into Airlines and other sectors.

With the conclusion of the ICO, the team along with the advisors is also investing significant efforts into building a strong organizational foundation, detailing out budgets, staffing & roles, operations, sales & accounts management, product strategy & requirements, open source & community engagement strategy. The proceeds of the team funding raised during the ICO will support all these areas as we grow.

Because we believe that the main source of innovation in travel comes from travel startups and engineers — we are working hard to provide all necessary tools, education and resources to the travel tech community via:

refining our open source project & designing thorough documentation;

delivering training/workshops/hackathons for startups that are building their products on top of Winding Tree;

providing funding to startups and projects to kickstart the development on top of Winding Tree platform;

educating travel tech industry on the advantages of open data & decentralized distribution in travel.

To be notified about upcoming events, funding opportunities, product updates — signup for our community newsletter. To get early access to Winding Tree platform — signup here.