BitWings is a project that provides users with a technological solution with which they can extract ETH cryptocurrency using their mobile device. The project team has developed secure software to protect the personal data of users. Also, thanks to the use of Blockchain technology and AI, the Wings Mobile application will be able to foresee and effectively eliminate cyber threats, and entrepreneurs will be able to integrate WINGS PAY into the payment system of their store.
Business Model Overview BitWings (BWN)
1. The validity of income
The project will receive income from the sale of its products, as well as from providing entrepreneurs with business services. The project team expects that total revenue by 2020 will be $ 126.5 million. Revenue will be used to develop the latest software and expand production. Thanks to the affiliate program, interested entrepreneurs will be able to receive 25% of the cost of purchased products by customers. Also, users will be able to engage in the extraction of cryptocurrency and extract up to 2 ETH per month.
2. Number of currencies accepted
The number of accepted currencies includes 4 liquid currencies: ETH, BTC, USD, GBP.
3. Token emission
In the project there is a limited number of tokens. A total of 300,000,000 BWN tokens will be issued (p. 55 White Paper).
4. Discount on the purchase of tokens
The discount on the purchase of tokens is 25% (p. 57 White Paper).
In the flow chart provided, the project objectives are indicated until the end of 2019 (p. 61 White Paper). After the ICO, the developers will distribute the funds as follows: 55% - “Cost of product sales”, 10% - “Marketing and promotion”, 25% - “Research and development of the project”, 8% - “Operating expenses”, 2% - “Other expenses” (p. 55 White Paper).
6. SOFT CAP / HARD CAP Ratio
The project has a bad SOFT CAP / HARD CAP ratio, which reduces its investment attractiveness. The values of SOFT CAP and HARD CAP are $ 3,000,000 and $ 32,250,000, respectively.
7. MVP availability
The project has developed MVP.
8. Risk assessment and insurance
At the same time, however, there are no risk assessments according to international standards, as well as any risk insurance methods, for example, Escrow, which increases the risk of loss of capital of potential token-holders.