Categories: CryptoNews

Wings Platform is a DAO Creation Tool

The recent DAO has taught us many things, one of which is that writing secure smart contracts can be complicated, and that’s why a group of developers is working on building the Wings Platform. 

Wings will be a user-friendly platform for DAO creation and management. The complicated code will be transformed into a pleasant user interface making DAO production possible to anyone who wishes it.

What this means is that instead of having The DAO, we’ll have many DAOs (+1 for decentralization) that will probably operate in a much more organized manner, since token holders will most likely choose a DAO specific to the industry in which they want to invest. Rather than having to invest in a “generic” Decentralized Autonomous Organization in which proposals have a harder time in reaching the established voting quota.

The same goes for contractors who simply need to choose a DAO unique to the industry they want to work on. DAO management will also be made easy with tools like Legal Counsel, which will be provided by qualified Wings legal partners. Wings plan to make use of the Rootstock technology to allow cross-chain investments in Bitcoin and Ethereum. Plans to support other cryptocurrencies are also in development.

Stas Oskin Wings BizDev and Core Dev, said:

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People using the platform will be able to create a DAO proposal for the community review. Following the community approval, people could create the actual DAO via an easy step-by-step process, which on finish will create the Smart Contracts and deploy them to the Bitcoin and Ethereum blockchains. The wings platform will then interact with both the Ethereum and Bitcoin blockchains (for starters). Participating in a proposal or voting for one can be done using the Chat Bots or a friendly app.

The Wings platform will be managed by a ‘meta Wing DAO’, a purpose-specific DAO with the goal of developing and maintaining the Wings Platform only. Wings DAO holders will benefit from every DAO created in the platform, by receiving a share of the tokens created along with the new DAO. This share comes from the fee charged for DAO creation.

What we’re left with is a Decentralized DAO network, in which no Organization will hold sums as large as the ones held in the Genesis DAO, which was one of the main security flaws, to begin with. Decentralized Autonomous Organizations will become truly “organized” and will be managed in a more efficient manner. Proposals will be evaluated according to the quality in a specific industry setting.

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Eduardo Gómez

Eduardo Gómez is a Computer Science Major from Venezuela, a country with a loyal Bitcoin user base. He discovered Bitcoin in 2012 and now he use it to escape the triple-digit inflation that Venezuela suffers, he is focusing on developing a writing career, and he tries to keep up with the news in FinTech and Blockchain Technologies.

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Eduardo Gómez

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