ZUG, SWITZERLAND, June 18, 2018 (GLOBE NEWSWIRE) — WINGS (www.wings.ai), the decentralized application for curating and valuing Initial Coin Offerings, today announced $1.7 million will be distributed to WINGS community members for promoting and accurately forecasting the outcome of the Aurora Labs token sale. The WINGS community forecasted Aurora Labs would raise $4.8 million for IDEX, its real-time decentralized exchange. WINGS surfaces the best blockchain projects by providing deal flow and reputation-based forecast markets for token sales. WINGS is the only decentralized crowdfunding application that incentivizes the cryptocurrency community to accurately forecast token sale outcomes, while utilizing consensus to weed out potential scams in the market.
Aurora Labs is a collection of Ethereum applications and protocols, including IDEX, the first decentralized exchange with real-time trading, automatic trade matching, free order cancels, and a market-making rewards program. After just seven months in operation, IDEX has more than 180,000 active accounts and more than $15 million in daily trade volume.
“WINGS was a key contributor to the early success of IDEX,” said Alex Wearn, Aurora CEO. “We are excited to continue our partnership and provide a safe trading platform for other high-quality projects reviewed by the WINGS forecasters.”
The WINGS community predicted the Aurora Labs token sale would raise $4.8 million. At the conclusion of the sale, forecasters were rewarded up to 1.5% of the AURA tokens supply. WINGS token holders will collect their algorithmically determined forecasting reward with a smart contract that distributes their tokens and updates their public WINGS Forecast Rating.
“With hefty exchange fees, many projects struggle to get listed post-ICO,” said WINGS Co-founder Dominik Zynis. “The WINGS’ community saw a solution in IDEX to eliminate market friction by offering better pricing, efficiency, transparency, and security of funds.”
ICOs using the WINGS crowd-sourced price discovery have raised over $750 million in the past 12 months, representing a significant portion of the global ICO market during that time period. ICOs recently benefiting from WINGS’ technology include Bancor, INS Ecosystem, Flixxo, Sirin Labs, WePower, and AdEx. More than 49 ICOs have currently used WINGS for price discovery. To help jumpstart liquidity, all ICOs successfully participating in the WINGS crowd evaluation process will be listed on IDEX. In addition, WINGS Foundation (wingsfoundation.ch) will be rewarding the next 50 companies to raise over $5 million using WINGS for ICO price forecasting and evaluation with one IDXM token to IDEX. Each IDXM token provides companies an IDEX membership, entitling the token holder to three years of free trades on the exchange, as well as a host of other benefits.
ABOUT WINGS FOUNDATION
WINGS Foundation is based in Switzerland and comprised of a decentralized team of professionals aiming to bring blockchain-enabled projects to the mainstream via crowd-sourced valuation and curation. WINGS uses smart contract technology to enable a new type of emergent incentivized swarm intelligence for value discovery on the Ethereum network. WINGS provides best-in-class, audited libraries of smart contracts for blockchain-based crowdfunding and for post-funding decentralized governance. To learn more, please visit wingsfoundation.ch
About Aurora Labs S.A.
Aurora is a collection of Ethereum applications and protocols, including IDEX—the first real-time decentralized exchange—that together form a completely decentralized banking and financial platform. Located in the Republic of Panama, Aurora was founded by a group of cryptocurrency enthusiasts who aspire to see cryptocurrency flourish and help provide financial solutions to anybody in the world, regardless of geographic location or status. Learn more at https://auroradao.com/
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