$500,000 WINGS Foundation diversification fund for Ethereum ICOs







  • As many of you know back in January of this year the WINGS Foundation took in close to $2 Million in a donation-based crowdfund. We paid some debts and of that amount just a bit over $350,000 worth of BTC, ETH, ETC, LTC and XRP were allocated to the marketing and communications fund which is managed by Dominik Zynis, WINGS co-founder and WINGS Foundation communications lead. While we indeed have sold off some BTC and XRP into various fiat reserves to cover expected costs over the next 12 months, due to the rapid increase primarily in the price of ETH but also XRP, LTC and ETC we now stand close to having $1 Million allocated for communications and marketing activities over the life of the foundation.

    Diversification strategy

    The philosophy during the WINGS crowdfunding was to spread out risk and not get into a situation of becoming dependent on the price of one cryptocurrency. That caused some confusion among donors, however it enabled the Foundation to benefit from money moving into cryptocurrencies over the last few months.

    So now that the WINGS Foundation is sitting on extra funds, it makes financial sense to diversify particularly into high value ICOs. To that extent we have already made small re-allocations into iEX.ec and Dfinity — unfortunately missing out on the Cosmos and Gnosis ICOs due to logistics.

    Following this strategy will allow the Foundation to lower currency vlatility risk and take advantage of opportunities to maximize funding for our communications and marketing activities over a longer period than initially anticipated. As well as reinforce the WINGS brand with strategic re-allocations of the currencies in the treasury.

    We ❤ ERC20

    To keep things simple we plan to spread this extra $500k over 20 re-alocations ranging between $10,0oo to $100,000 primarily focusing on ERC20 coins which have high potential or show strategic importance for the WINGS platform, and in particular projects that also use WINGS forecasters for vetting and valuation.

    Let’s face it none of us at the WINGS Foundation are professional hedge fund managers, and we got really lucky over the last few months since the end of our crowdfunding. Therefore, ideally we would like to “eat our own dog food” and use the WINGS DAO members to help us vet ICOs and value them so we know which ones to diversify into and ensure the foundation has steady cashflow!

    How will we go about all this?

    Gnosis book building contract — Where did that ICO go?

    One interesting development lately, which I admit we should have taken advantage of while I was traveling to speak in Oslo last week while the Gnosis ICO was getting set up, is the book building contract which allowed one to reserve a spot in highly anticipated ICOs.


    Now this type of contract can be a real portfolio saver especially when some of these high-flying ICOs close in 10 minutes then immediately trade at 3X on some futures market— you can easily miss out just by getting distracted by something mundane like your cat going inside a box.

    So after we get a chance to play with the book building contract and have made some decision around a particular ICO we may ask the community to launch such book building contracts so that the Foundation may make use of this great concept, and also allow others in the WINGS community to make use of these types of contracts to never miss a high value ICO again.

    Take our money, please (and turn it into more money)

    Are you planning an ICO?

    Will it be on Ethereum?

    Are you open to considering using the WINGS DAO (it runs on Ethereum as a set of smart contracts) to vet it and value it before running the ICO?

    Then come and talk to us and make your pitch, we would love to listen and perhaps invest.

    Email [email protected] to schedule a time, if we like what we hear we might even invite you on our upcoming weekly webcasts to do your pitch which will get emailed to over 11,000 people and shared on our twitter account (also over 12k followers).

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