Winding Tree ICO overview ($LIF) for your busy life: a few points helping you get a feeling for the project and its potential.
This is the 3rd ICO review of a hopefully endless series of ICOs we consider "interesting". This is not financial advice, do your due diligence before investing. And mind the scammers: they are particularly active in the field of ICOs.
decentralized alternative, to the current concentrated travel distribution landscape, where anyone can access inventory directly from the suppliers
"Five companies in the travel industry control the most of the travel market. The two largest OTAs (Online Travel Agencies), Priceline Group and Expedia Inc., control 95% of OTA market in the U.S. Amadeus, Sabre, and Travelport, the top three GDSs (Global Distribution Systems), have 99% combined market share in non-direct inventory in the air market."
Target Market
"travel is one of the largest industries in the world, contributing US$7.6 trillion to the economy in 2016 (10.2% 15% of global GDP) according to the 2017 World Economic Forum20% Travel and Tourism Report"
Token usage
added functionality required by travel companies to send the necessary information within transactions
3 additional methods
to send value
to send data data
and/or execute a function on those transfers
these 3 methods allow companies to design more complex and tailored applications on our platform
can be programmed to automatically settle costs. Government departments, airports, staffing agencies and suppliers have a high incentive for settlements to be automated while ensuring on-time payments, low cost of verification - vs currently high costs of settlement
Funding
pre-sale
Bonus chunks
$1.25mln was raised at 10% bonus
$300K was raised at 30% bonus
$35K was raised at 50% bonus
Only about 0.155% ($233K) of contributions to-date was given out as a bonus on pre-sale
Bonus itself was granted as an expression of appreciation to the investors who have trusted us when we didn’t have a single line of code written, nor a single partner from the travel industry signed.
ICO
Feb 1 (8am UTC) - Feb 14th
Price
first week of February 1 ETH = 1000 Líf - 10% bonus
second week 1 ETH = 900 Líf.
hard cap
none
We use a Market Validation Mechanism (MVM), which means that the market (every token holder) decides on the funding we receive over the next years. After the ICO we receive a maximum of $10Mil regardless of how much money is raised. The remainder, if any, goes into a smart contract which buys back tokens (and burns them) at a rate of (TotalRaised - $10Mil) / Token Supply. Over time the smart contract releases some funds to the Winding Tree team. If token holders return their Lif for ETH the contract will be have no funds and the team will receive nothing.
The maximum we will receive is $10 Million. Although the number of tokens issued is uncapped, we will not receive all of the money raised during the TGE. The excess money will go into a smart contract which buys back Lif tokens from anyone and then destroys the Lif tokens it bought back. If total funds raised exceed $40 million the the MVM will run for four years, otherwise for two.
the ATECH Foundation (tech conference in the Caribbean in Aruba for startups across the world) […] working with Swiss startup Winding Tree on a blockchain marketplace for travel booking
