DAO Testnet Announcement

Dear WINGS community,

Following our WINGS Protocol upgrade announcement back in April, during which we have provided a sneak-peak into the feature that will take us one step closer WINGS vision, today, we are excited to finally announce the public launch of the WINGS Decentralized Upgrade Consensus testnet .

This new feature will enable WINGS token holders to submit proposals for the improvement of the WINGS platform, vote on these proposals viability, and allow them to be funded by the WINGS community. . Once such proposal is approved and funded (if needed), the resulting code would be audited, merged and deployed to the WINGS platform main code by one of the Wardens (initially the WINGS Foundation and later on, by elected community representatives). More information about Wardens can be found in the previous post.

We are aiming to give the WINGS enthusiasts a fully decentralized, community oriented method to make their opinion heard, with the WINGS community discussing, improving and funding it. These proposals could range from making the protocol more secure, faster, through considering a different design, and up to venturing into new use cases.

This possibility to propose and fund new features and capabilities for the WINGS ecosystem, will take us one step closer to the full fledged Decentralized Autonomous Organization vision.

With that in mind, we invite you to try out this new release:


It has been a long road, which sometimes required us to step back and take a hard look at where we are headed; yet we always returned to moving forward. We believe that this new release will allow the community to become more involved in shaping and direction of WINGS Protocol and will lead to a better and improved WINGS ecosystem.

How to use the WINGS DAO?

1. A new WINGS Protocol upgrade proposal is created

2. The proposal is reviewed and voted by the WINGS community for approval/rejection, decided by a majority of voters. A minimum number of tokens participating in the vote is required before a resolution can be reached, the initial value being 20% of total WINGS tokens supply. Please note that both of these thresholds are subject to change prior to the mainnet release.

3. The community funds the newly approved proposal (if the proposal requires funding)

4. Once approved (and funded), the development process begins

5. The new code is submitted for review

6. Once approved, the new code is integrated into the Protocol by one of the Wardens

We have invested a considerable amount of effort to make the user experience as smooth as possible.

Once the community testing and feedback period has been completed, we will deploy the update to mainnet.

In the next blog-posts and PR events, we will reveal more details about the stage 2 of WINGS, including presenting some of the use cases that we are building in cooperation with world class partners. So stay tuned, it will be worth it.

As always, we thank you for your continuous support! For any questions or feedback please visit our social channels:






Source link

Leave a Reply

Your email address will not be published. Required fields are marked *