https://www.coingecko.com/en/coins/dfinity-iou?utm_content=dfinity-iou&utm_medium=search_coin&utm_source=coingecko

andreesen horowitz paid about $10/coin one year ago

perhaps you are confused… there is no lock up for seed round dfn coins…

The problem of many companies, both large and small, is that they do not change course in time, and as a result, the ship breaks on the rocks.
Wings had a good start when there was no market growth. I remember how they finish 2k btc ico and immediately entered the top 50 after the bancor and adex forecast.
But then the team instead of changing and adding options apparently decided that nothing needs to be done. The market quickly changed and the ico boom passed.
And when the price began to fall, they started introducing more and more new fake projects for the forecast several times a day. The community did not understand this and stopped voting. And after delisting from the binance, community showed the team a red card and sell all.
The story of the rise and fall of a good company.

It would be good if the foundation were to release a high level financials. In particular how much cash it holds and how many dfinity tokens it holds which apparently are worth near $25/coin now (1000x Roi). I believe that the assets of the foundation are valued at many multiples of the current market cap.

Frankly I’m surprised at the low level of transparency. If there were more transparency at least I could have a reasonable chance to sell my tokens closer to the “book value” so that I could move on from this finally.

It shouldn’t be this hard with so much money in the bank for the foundation staff to do the right thing for all holders.

What do you think in the current conditions it will be in demand? Forecasts gave a good profit, I hope and here we will make good money

They said we can see some results on the git hub, if someone understands something in this, you can look and tell us

To be precise, they raised about 2000 BTC, which on the day of the ICO was worth 895.67 USD per BTC. Note that on the way BTC rised significantly, even to 20 000 USD at some point. It is unknown how much exactly they sold and how many millions they have, but it is definitely way more than is needed for development of such project. But they deserve it, since people gave them money willingly, just like any other ICO project. I agree with you, that the exact number is unknown and there is lack of transparency, but lack of transparency is something that characterises most ICOs and Wings was not the only one to never report how many funds they had and on what they are spending it, but it is something that you could accuse many other ICOs as well, so IMO not that relevant and I don't really care if they took some of that money for themselves via creative accounting like many other ICOs did, since it is standard practice here and noone minds it as long as some of that money is spend on the project. I am just disappointed by having multimillion sum from ICO  and not spending it on marketing and PR and other things that might benefit the token holders. But I am not here to ask questions what happened to the 2000 BTC and how much of it was spent, if you are curious about it you can further pursue this issue. I am here to ask, why a project that has millions of dollars is not spending fraction of that money on professional PR in times of crisis like this (when price is plummeting, bug cased people lose trust in the project, exchanges are delisting)? Is it so hard to spend some of that mony on additional paid listing, hiring professional PR company to handle this, pay back people that lost money because of the bug, become more transparent about spending so far etc.


Exactly! 6% is a lot, when you look at the numbers that they gave multiple times, stating that the rewards they gave away so far were worth 120 million USD on the day of the ICO (and note that some of them pumped significatly immediately after launch). Assuming they were average with they answers at best (but do you think the were just average?) it was additional millions of profit. And remember, this is for project only, not including personal rewards of the individual team members. And it was stated multiple times the are using those tokens belonging to the Foundation for forecasting (which they have right to do, this is source of additioal profit for the project). If the numbers you provided are correct, it means they earned ton of money and why it is not spent on some paid exchanges listing, PR, giving money back to the people who lost it because of their bug and additional marketing is beyond me. It might be in their interest to wait for Wings.ai to fall to be able to cash out rest of the money and move to the next project, it might be simply poor management or it might be something else, but the fact is they are not spending this money right. Examples what should be done are in my previous posts.


That's my point. You gave examples of project that did not reimburse, while I was talking about those that did reimburse. This is why I stated that some did and some did not. Wings decided to be in a group that moves full responsibility to the users and does not reimburse in any way, which is their choice, but it also gives a vibe "do not trust our smart contracts, becasue in case there is another bug in them (or in the UI) and your money is lost, we will not pay you anything". So once again, you are free to do this, but then do not expect people to trust you and don't be surprised that the price is declining.

There is no point to discuss it any further.
We now see (partly to your research) that they have lots of of money.
We also do not know how they are exactly spending it (which is industry standard, we all know those ICOs had more money than they needed anyway).
We also see not much is being done to regain the trust (no effort to figure out how many people lost money because of the bug and paying those people back, no immediate PR statement, not spending money on additonal marketing).
Some might think it is OK (like you), some might think it is wrong (like me). The market will decide what happens next.

the rewards they gave away so far were worth 120 million USD on the day of the ICO (and note that some of them pumped significatly immediately after launch)

Regarding Wings not making profit: it actually does make profit, but with different model. Exchanges take percentage from transactions, Wings had two income sources: the ICO (people paying in advance for a service being built) and significant amount of Wings was given to the Foundation, so they are getting significant amount of each successfully forecasted reward (so this is a lot of money!). And regarding the examples of projects you gave, that’s exactly my point, some reimbursed people, others did not. Ignoring this issue something that only biggest players can afford to do and Wings is not in a position to do something that will further damage it’s reputation. As I said before, Wings will do whatever they want, and the market will verify if it was smart and fair decision.

significant amount of wings was given to the Foundation

And regarding the examples of projects you gave, that’s exactly my point, some reimbursed people, others did not

Noone denies that it was a technical problem.
Good to know what exactly is an issue and it is good the team disclosed it and took investigating it seriously.
It is the solution that disappoints, though. Your actions simply state: you can not trust our system (or: you should take 100% risk for using our system).

Nothing illegal with that of course.
But it's like with the exchanges Many of them them encounter a technical issues (sometimes hacks, sometimes simply malfunctions).
Some of them are helping their users recoupl their losses, and some are simply saying "well, it was a hack/technical issue, you took the risk".
Too bad that Wings chose the latter path. As I said before, I was not personally affected since my tokens were on the exchange anyway, but I was affected indirectly, because the way this was handled hit Wings's reputation and perhaps indirectly resulted in further price decline.

You can do as you wish, but probably best action here would be:
- apologise instantly
- figure out how many funds were lost and by how many people
- use some of the project's funds to pay back people who lost money because of your bug (you have millions guys, those loses were probably tiny compared to that)
- launch full and transparent internal investigation and publish it's results

You chose different path and you have right to do so, but the crypto community has a right to judge you.
I guess the market in the following months will decide if it is fair in such circumstances to simply blame it on technical issue.

IMO the trust in the project is lost now after all that happened (weird direction with free listings with no rewards, then funds locked in smart contract, then disappointing solution to that).

I will not comment on this matter any further, but I could bet that the following will happen now: the team will continue to ignore the bad PR that this whole thing brought to them, they will continue open sourcing the project (which is good), but they will not spend any money for relevant things like paying people back or marketing or sponsored forecasts etc., they will wait couple of months for people to forget about the projects and they will move to other ventures (which is understandable and standard in startup business, but you should guys at least try fixing that before you move further).

The withdrawal problem was completely unrelated to the delist announcement. What happened is that everyone started unlocking at same time and the backend had to process a lot of transactions, however the backend missed a number of these transactions due to block reogranization on the Ethereum network (https://medium.com/blockvigil/how-we-deal-with-chain-reorganization-at-ethvigil-5a8c06859c7).

The team has started to work on a fix almost instantly after the issue was found and on the next day  a fix was uploaded which allowed the backend to work correctly with the ethereum block reorganization. Just one of the issues you don't know its there until it happens unfortunately.

How about you go to the Wings Telegram and scroll up to the date of the delisting announcement and check all those comments from people who are unable to unlock their tokens, while the price tanks? Yes, people lost money. Yes, it seems they were unable to sell, while some big accounts were selling. Those are all facts that you can check on the block explorer and Telegram.

They seem to me a very long time pulling with a new direction.
There was an opportunity to switch to another format, for example, bets on events and all sorts of similar things.
The ico market is at the bottom and we will be there for a very long time.
In the meantime, the exchanges one by one clean the project. Maybe the market go up again and ico will start collecting a lot but the project will not have exchanges where it will be traded. And without them there is no liquidity no community and most importantly no large investors who buy this project.

They really need to try formulate a new approach a new marketing plan and a stable website, can`t wait for the new and improve wings if they do a re-launch.

Judging by the current rate, the project has very few chances. But still can be)))) The main thing is to make an effort and keep everyone in the curse

Now another delisting $wings with UPBIT , bittrex next ? are you seriosly?

The point here is certainly not in the exchange. The token can be traded on bittrex as well. But the future of the project is vague. It is clear that the initial direction of the project is not relevant now