Hi Steemians
I've decided to use Steemit for my forcastings on Wings.ai and this post is now the third of a series of forecasts. My previous post was on the Snip ICO and my last one, on the MiniApps ICO.
Quick presentation of Wings.ai
If you haven't already heard of Wings.ai, a crypto project (on top of Ethereum), it's a DAO specifically dedicated to help the launch of crypto project - before the ICO, the team may publish the project & ICO parameters which in return will be forecast and evaluated by the wings community. For more information on the wings platform and the forecasting mecanism, see the Wings blog. Some steemians have already presented this project and you can find old post by @ether19; by @kanoptx; by @generation.easy or by @jwiz168
Why using Steemit? Just cause when we made the forecast, we have to put a tiny review in 160 characters and we can, for more deep explanation, put a internet link to a more long review! So, Steemit looks like the good place: as i made a more precise forecasting, steemians will be able to review my forecast just on their preferred platform: hitting two targets with one bullet. So today, we will give our opinion on the...
CrowdWiz
Introduction
The WizFund platform aim to create a specific ecosystem for investment, based on a decentralized investment fund whose governance is funded on wisdom of the crowd. The key component of the CrowdWiz are: a WizFund platform; a WizExchange; a WizVote as voting & governance systeme; a Wiztrader; a WizInvestment and a Wizstore.
Their site describe it as follow:
The WizFund platform is a liberated ecosystem of investors, bringing flexibility and freedom through advanced technology.
Every member has the right to vote and take the decision where and how the fund should invest. Token-holders are free to >invest in newly-created funds or establish WizFunds of their own. Software wizard will guide you through the process.
The fund, portfolio type, voting mechanism, IFO (Initial Fund Offering) and fund size are among a comprehensive list of >various parameters that can be set up.
The WizFund platform is open to different numbers and social groups of investors - starting from families and co-workers, to entire neighbourhoods and cities, or even countries and continents, all whose citizens share the same goal.
A crowd-managed, self-directing exchange platform
At WizExchange token owners have the power themselves to determine which tokens are listed or removed for exchanging by >a voting process. The platform enables everyone on board to delete assets from it, if anyone suspect fraudulent activity or >malicious practices.
A place where developers can build various tools and add-ons
The Wiz Token and Token sale
The will create their ecosysteme around the WIZ Token, a ERC20 Ethereum token, so the WIZ is transferable, fungible, and can be used openly for escrow/vote casting, collateral for investments and trading. Token characteristics - as announced in the white paper are:
-The supply of WIZ tokens is limited.
-The WIZ token is fully integrated into the CrowdWiz ecosystem and the participation in all components of the ecosystem will >be done exclusively with WIZ tokens. Therefore, the demand for the token is expected to grow proportionally with the number >of active users.
-WIZ token holders can propose their own investment ideas on the WizFund platform and vote on proposals made by other >participants.
-WIZ token holders can create their own crowds, raise capital for their specific investment funds and issue designated crowd >tokens for their crowd on the ecosystem’s exchange (WizExchange).
-WIZ token holders can participate and invest in these crowds as follows investors will transfer their WIZ tokens in the crowd >and receive in exchange the designated crowd token. If the selected crowd’s capital raise is successful, investors will utilize the >crowd’s token and start managing the newly formed crowd fund. If the crowd does not raise t
he required capital, all WIZ tokens will be returned to investors. All crowd tokens will be listed on the ecosystem’s exchange
where investors can trade them
ICO distribution will be held on 18/10/2017 and will be ended on the 31/10/2017. The minimum goal to start the project is 5 000 000 $ and the team have defined a 20 000 000 Hard Cap.. 3 crypto-currencies can be use for buying WizToken: BTC; ETH; LTC.
Concerning the distribution; they will give 75% of the total amount of Token issued to the crowdsale participant which is a wide distribution in comparison to my two last forecast 28% for the Snip ICO & 50% for the MiniApps ICO. The majority of the fund risen will be use to create and develop their infrastructure. See below
For their road map see
They have, for now already 5,389,81$* reserved on their site
My forecast
the wings.ai question is
You are forecasting the total amount of funds (in ETH) that the project will raise in it's upcoming token sale (inc. presale)
Pro
- Trying to make what the Dao haven't realized: a decentralized investment fund based on a collective governance system
- Planned investments on different platforms for creating a investment ecosystem which have to be self-governed. This kind of investment and implementation could be important for the crypto sphere in general.
Con
- So many crypto-fund have been already launch, base on different strategy or technology (AI, cryptographic audit, etc...) it's become really unclear what team/project will succeed and if they will have enought expertise for making good investor and seeders for early bird project
- What on the law compliance... specifically on their Wiz token design?
- Not really on the project himself but... They use wings.ai for price discovery rather than to established more precise ICO parameters. Thus losing the most important use case of wings: improve ICO by discussing/reshaping proposed parameters.
Conclusion
They have already reach their low cap and should reach the ICO hard cap too (~20 000 000$). But for now, in consideration of the decreasing participation on the ICO, the may just rise 10-15 Million that will be a good start. It's not the first crypto project i see built around investment fund activities but in the same time this kind of project have yet some rooms to grow .