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WingRiders

06/28/2022

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WingRiders: IDO Platform Distributors announced

With the close of our whitelist, currently ongoing is our IDO Sale phase. Post that, there is a small chance of a direct (non whitelist) sale. This allocation will be limited to whatsoever tokens are left over from the whitelist or IDO phase. That is the final sale round if the time before TGE allows this phase at all. Current TGE expected date is in the week of 11–15.7.2022. Market conditions are not ideal, so let us hope for an improvement before this date.

WingRiders: IDO Platform Distributors announced


 

With the close of our whitelist, currently ongoing is our IDO Sale phase. Post that, there is a small chance of a direct (non whitelist) sale. This allocation will be limited to whatsoever tokens are left over from the whitelist or IDO phase. That is the final sale round if the time before TGE allows this phase at all. Current TGE expected date is in the week of 11–15.7.2022. Market conditions are not ideal, so let us hope for an improvement before this date.

For this now ongoing round of the sale, WingRiders announced that our platform partners are OccamRazerVent Finance, and DAO Maker. We chose these platforms due to a diverse range of participants, strong opportunities to grow the entire Cardano ecosystem by bringing in new market entrants, and the strong networks of each of the partners. We are also incredibly happy that Vent and DAO Maker offered an allocation for the general public — this allows us to reach as wide an audience as possible.

Both OccamRazer and Vent have good reputations for delivering high quality projects with knowledgeable communities. DAO Maker has great brand recognition and a track record. We chose them largely for 2 reasons:

  1. We feel that blockchain — blockchain multi-chain integrations are going to be a staple of the industry. We helped to bring stablecoins to Cardano because we believed that it would be a valuable addition — and hopefully drive liquidity to the network as it did for Ethereum in 2018/2019.
  2. DAO Maker has an excellent history, and one of the largest communities in the cryptocurrency space. More importantly it drives new Cardano adopters to take part.

ReCap

We feel we should, perhaps, give an explanation for why our sale is the way it is? Initially, our thoughts were for a straight IDO only sale, via primarily Cardano based platforms. However, like the rest of the market, we saw the unfortunate situation that developed between our peer project and IDO platform in Cardano. This forced us to reconsider our previous assumptions, and in a move we feel aligns with the principles of a DAO, which we’ve explained many times is our ultimate objective. We asked our community. In the largest ever of a pre-DAO polls (with over half the community voting — at that stage 3,560 users).

People had many opinions.

  • Some felt a direct sale was more equitable
  • Some had strong preferences in terms of IDO platforms

In the end, the community voted that we should do it as an ICO and IDO combination with a set of preferred platforms.

We never considered a direct ICO before as you must cover a lot of tasks yourself

  • Respect KYC policies and regulations in markets where rules are clear. For markets where rules have changed or are changing in 6 months, either engage local cryptocurrency law expert or exclude the country from the whitelist sale.
  • Build or host own sale website, develop own TGE software (smart Contract design or open source), wallet solution.

As well from the community voting, came the decision to have some of the 5 IDO platforms. After extensive due diligence and contract negotiations In the end our confirmed IDO Platform Distributors are:

Sale development

Our target for the sale was originally Q1. We explained the thinking behind this in this blog that led to the push to Q2. We are working tirelessly against the market trend to meet as close as possible this second milestone for the community and project supporters and partners. Obviously the market conditions are beyond our control. We explained our thinking here in this blog.

During our whitelist sale, there was some frustration from our community about the large number of compliance exclusions for a lot of countries that have some bias against crypto. For this, we understand your frustration, we really do. Well, we have good news. Our IDO partners each have their own geographical expertise and compliance coverage. Unlike us — a largely developer-led team, they have run, in some cases, over a hundred projects and therefore have swift, efficient machinery optimized for just this task.

They also have huge communities of token holders which helps us achieve our goal of getting our tokens to an as wide community as possible.

Diversity of thinking breeds flexibility,

Flexibility is also adaptive.

Adaptivity is a survival trait,

even for digital ecosystems.

We believe that some of those excluded from buying directly from us might be serviced from our IDO platform partners, please see their Terms & Conditions from guidance.

Our whitelist was a direct sale aimed at rewarding those who have been with us since the beginning. The entrants are finalising the KYC process in batches and have received a step-by-step guide through the process. We will be closing the KYC this week.

Our IDO Launchpad Platform Distributors will each receive an allocation of tokens to distribute to their communities by their usual sale methods. In the cases of VENT, who have a $500,000 USD allocation. Only $300,000 of that will be for VENT’s own community, the additional $200,000 will be distributed to the general public in a General Purpose Sale (“GPS”). DAO Maker has not formally announced its allocation but there will be a public part to it as well.

Distribution

Please note that the distribution of the tokens will be done on three separate blockchains to battle congestion and promote decentralization.

  • Whitelist participants will be sent the first day unlock on Cardano mainnet, then continue to claim their monthly unlocks from vesting contracts via a WRT user interface.
  • Occam IDO participants will be sent the first day unlock on Milkomeda, then continue to get their monthly unlocks from Occam directly on Milkomeda.
  • Vent IDO participants (Public and Vent community) will be sent the first day unlock on Binance Smart Chain, then continue to get their monthly unlocks from Vent directly on BNB.
  • DAO Maker SHO participants (Public and DAO community) will receive their tokens via the DAO Maker platform first day unlock and vesting on Binance Smart Chain.

We will write about this more extensively in the coming days. Yes all the infrastructure including two Bridges is already deployed and tested and we will share detailed guides so you are well prepared and equipped for the TGE day.

Potential last step before TGE

We will now briefly discuss the final stage of our sale, post the IDOs sale. Any unsold tokens will likely be offered for an additional public ICO sale, unless the WingRiders team deems the amount remaining to be insignificant or the time too short without TGE moving (what we are trying to avoid at all cost). In case these tokens are not sold they will be returned to the project for future development and growth. More details if this is necessary will follow post IDO sale stage.

We highly recommend going to these platforms now as their sale phase is closing in a matter of 24 hours for two out of three.

Peace.

The WingRiders Team.


 

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