Quote from: mummybtc on September 28, 2016, 11:06:47 AM

Quote from: wings.ai on September 28, 2016, 11:01:23 AM

keep in mind that WINGS is not just a plain DAO, it is making special use of prediction markets (think augur or gnosis but just for projects/coins) for separating the bad from the good projects, and futarchy for governance of WINGS as well as the projects using it.

it's like corn flakes cereal but with frosting, strawberries and bananas thrown in.

Can you rely be specific what wings is all about because before I use to thing is another DAO but now you are bringing in prediction market thing, I've not read the white paper but prediction market is not what I thing wing actually does

WINGS is a DAO for selection, governance, and promotion of new projects which themselves use DAO tech for governance. However, rather than just having normal voting which can be biased, prediction markets (we use the term "forecast markets" in the paper) based voting (meaning there is financial incentive at play) allows actors to make rational decisions based on profitability (will the DAO's token be worth more if we do X). This also always the minority opinion to cover potential losses when they are indeed correct.

The DAO was an investment fund, whereas as WINGS is more of a signalling and management platform since there are no managed funds.

WINGS DAO community is signalling to potential project backers, as well as exchanges, what something will likely be valued at, and when some events happen, etc. Over time those who are consistently closer in their forecasting get higher forecast rating and weight in the system.

Project DAO token holders can also use this to decide the direction of a DAO based on perceived value in the future.

please take a look at

http://merkle.com/papers/DAOdemocracyDraft.pdf

http://bitcoinhivemind.com/papers/3_PM_Applications.pdf