WINGS ★ Where DAO Unicorns Are Born! ★ Token launched!

Can any devs confirm this rule stated in the TOS?

Quote

7.8 Minimum Target Amount

After the “WINGS Donation Campaign” completion, “WINGS” will not accept additional donations in order to avoid project over-funding. However, if the minimum target amount of 5000 BTC has not been reached during the “WINGS Donation Campaign”, “WINGS” may propose to create another donation round.

I have never seen that before. They said that if goal is not reached, then platform will still be running.

That's why I need a confirmation directly from the devs.

That is indeed part of the backing campaign contract, however, more WINGS cannot be created without the approval of the WINGS DAO. It was put in there mainly to ensure that eventually the foundation goes away (i.e., runs out of money) and things are driven by DAO contracts and the community but we need to get the contracts to a state that complete self-governance and decisions can be made continually iterate and self-improve.

We're going to start with the basics and see how far we can get.

Since the WINGS Foundation does not have funds for the later milestones at this time and has not passed that 5k threshold, it may elect to do those things as separate project DAOs in the future by doing a donation crowdfund via the WINGS Foundation Swiss entity. Or it can propose to do another donation round by asking the DAO to create more WINGS for the foundation.

The DAO could also choose via a proposal to, for example, route some of the DAO's service fees to the Foundation to hire more developers without the need to create more WINGS.

Or if things go very well (meaning lots of projects launch using the platform) the WINGS Foundation may get additional funding from the WINGS it holds and any service fees it obtains via participating in the forecasting process. Although we need to check with the legal team exactly how that might work and whether the foundation can appoint some forecasting advisors.

Who knows maybe we can get people like Mary Meeker, Warren Buffett, or Henry Blodget (he's only banned from the securities industry not from crypto!) the living famous stock oracles to help the foundation.

So will the roadmap and the time of token distribution be affected if the 5k threshold isn't reached?

the roadmap is determined by how much funds are received. right now we are at milestone 1.

Yes but it still doesn't tell the plan with the fund under 5k BTC. I'm afraid both the token distribution and the listing on exchanges may delay because of that.

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