GIBRALTAR, April 18, 2018 /PRNewswire/ -- The Winding Tree Foundation, a Swiss Foundation that seeks to reverse the travel industry's consolidation, announced today that it has made hit multiple goals in its development roadmap.
Winding Tree arose in response to one of the most pressing problems facing modern travelers and travel-related businesses: industry concentration. The Winding Tree platform provides travel suppliers, travel sellers, and travelers themselves with an alternative way of connecting. The platform creates a marketplace for all of these parties to learn about each other and carry out transactions. It uses blockchain technology to keep all data exchanged in these marketplaces safe while holding down administrative fees.
Market Validation Mechanism
On February 1, 2018, Winding Tree released its own digital currency. Known as the Líf Token, this currency will allow everyone who participates in the platform to benefit from its success. Creating a cryptocurrency will further enhance the platform by revolutionizing incentives for all its participants.
During the token generation event, (TGE), Winding Tree ran an uncapped sale, opting to use a market validation mechanism (MVM) to decide the number of Líf Tokens that would be created. In past TGEs held by other companies, Winding Tree had observed common problems. For example, in TGEs with capped sales, large buyers (aka whales) typically buy up sizable portions of the total supply, quickly ending the block and excluding buyers who otherwise would have participated.
As the purpose of the Líf Token is to facilitate quicker, simpler payments for all customers, Winding Tree wanted to include as many buyers in the TGE as possible. The MVM ensured that anyone who wanted to participate could, creating as many Líf Tokens as there was demand for and decreasing the total percentage share held by the whales.
Winding Tree has made great strides in making its services available to the largest audience possible.
"We're proud to have deployed the first validation mechanism for an ICO on Ethereum and successfully closed the ICO with over 15k ETH from investors both large and small," said Augusto Lemble, the co-founder and Blockchain Architect at Winding Tree. "Now, we've turned our full focus to creating the platform that's going to transform the travel industry. With the work we're doing, developers won't even need to know anything about blockchain to be able to use our platform alongside current solutions."
All of its applications are now available online at the following URLs:
Automated Release and Deployment
Winding Tree has made sure to automate the release process and development of these apps. Built by Travis CI, hosted by Now and proxied by Cloudflare, the apps now feature automated release and deployment processes.
For a more detailed look at how Winding Tree is continuing to hit their roadmap goals, please visit our Q1 roundup.
SOURCE The Winding Tree Foundation