This article was first published on WINGS DApp - Medium
As previously stated, we received numerous requests to increase the level of communications between the team and the community. These requests haven’t fallen on deaf ears and the team intends to significantly improve on the communication. We will start by publishing more posts which will aim to explain the rationale behind some of the decisions the team makes, review past decisions and their results, and share future plans and directions that are being discussed and researched by the team.
Where are we now?
WINGS is currently at a crossroads, and needs to change path in order to survive and thrive. To better understand what we mean, we will start with some historic background:
During 2017 and part of 2018 the WINGS Protocol had a very good market fit. It had a focused target market, an audience, and overall success. While it is safe to say that most of the projects were happy with using WINGS during this period, we captured a lot of feedback from most projects using the software, which (despite the major onboarding hustle during the alpha and overall still complex process during the Beta) repeated and focused on 2 main points:
1. Small numbers of forecasters compared to the reward amount (for projects launching with rewards) — Around 400 in the Beta and around 500 in the Alpha version.
2. Passive forecast process & insufficient traffic from the Dapp — Basically deriving from forecasters doing their own due diligence (if at all) without using the Dapp to visit projects websites and other materials and without significantly promoting the projects that they did like.
We had also collected significant amount of feedback from forecasters, which focused mainly around long loading times, expensive gas costs, rewards distribution lag, per project locking hustle, etc. And while most of the forecasters’ problems have been fixed in ...
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WINGS DApp - Medium