Crypti and Chainlab are preparing a platform for launching DAO

Crypti and Chainlab are preparing a platform for launching DAO

Blockchain startup ChainLab and development team Crypti are preparing a platform for launching Decentralized Autonomous Organizations called Wings. It is assumed that in the end they will get an “accelerator of innovations” in the sphere of open blockchains.

In contrast to the DAO, the new project will become a platform for creation and management of decentralized organizations, explains chief technology officer Stas Oskin. According to him, Wings will support different blockchains, and there will be a possibility to sell unique tokens, generated by DAO on this platform, in exchange for Ethereum and/or Bitcoin.

Oskin has announced the realization of smart contracts in the case of Ethereum. Token owners will be able to make decisions on storage and payment of funds.

In order to protect investors, the following technologies will be used (The DAO does not use them): list of experts chosen by token owners, incentive and motivation model, and Rootstock developments in the case of bitcoin.

Project realization plan consists of several stages. After defining the goal and functions of DAO, Wings token owners or experts, chosen by them, will get acquainted with the application.   

Afterwards, a step by step development will begin – at first only for ETH, later for BTC, as well as adjustment of parameters and providing the DAO owner with smart contract address. When it’s all done, it’s possible to start receiving payments.

The launch is scheduled for the first part of summer, but the definite date has not been decided. Project’s chief technology officer claims that developers will personally test the operation principles of Wings.

The expected amount of funds raised from investors would be sufficient to support development during the period of three years. According to Oskin, a lot of money will be spent on marketing and promotion. 

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