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How it works
Wingbits operates on a decentralized protocol, using Automatic Dependent Surveillance-Broadcast (ADS-B) technology to gather real-time flight data. It tracks crucial details like the location, altitude, and speed of both commercial and private planes. Essentially, it turns flight tracking into a community effort, making aviation data more accessible than ever.
The network shares its revenue with contributors, rewarding data providers through a Solana blockchain-based, performance-driven model. Rewards are calculated based on factors like performance, coverage, and uptime. To keep things competitive, Wingbits also features global leaderboards, allowing participants to see how their antennas stack up against others worldwide.
The project has made significant strides, recently securing €3.1 million in seed funding to support its expansion. With over 1,600 stations already active, Wingbits is growing fast and creating opportunities for individuals to join this innovative network.
Wingbits has also partnered with peaq to enhance its operations. It will utilize peaq IDs as the identity mechanism for antennas joining the network. Additionally, the network plans to use peaq to enable shared ownership of specific hexes on its world map.
The network shares its revenue with contributors, rewarding data providers through a Solana blockchain-based, performance-driven model. Rewards are calculated based on factors like performance, coverage, and uptime. To keep things competitive, Wingbits also features global leaderboards, allowing participants to see how their antennas stack up against others worldwide.
The project has made significant strides, recently securing €3.1 million in seed funding to support its expansion. With over 1,600 stations already active, Wingbits is growing fast and creating opportunities for individuals to join this innovative network.
Wingbits has also partnered with peaq to enhance its operations. It will utilize peaq IDs as the identity mechanism for antennas joining the network. Additionally, the network plans to use peaq to enable shared ownership of specific hexes on its world map.
Tokenomics
Wingbits has allocated its token supply strategically to ensure fairness, long-term stability, and ecosystem growth. With a total supply of 10 billion tokens, here’s how they are distributed:
Community (45%): The largest share is allocated to the community through mining. This ongoing issuance is distributed over a 40-year timeline, encouraging steady participation and long-term network stability.
Team (24.5%): Reserved for the team, these tokens will vest over a two-year period, ensuring alignment between the team’s incentives and the project's success.
Capital Partners (24.5%): Tokens for capital partners are allocated with a vesting schedule of 1.5 years, supporting early investments and network scalability.
Ecosystem (6%): This portion is set aside for ecosystem development, funding initiatives that enhance the network's capabilities and growth.
Community (45%): The largest share is allocated to the community through mining. This ongoing issuance is distributed over a 40-year timeline, encouraging steady participation and long-term network stability.
Team (24.5%): Reserved for the team, these tokens will vest over a two-year period, ensuring alignment between the team’s incentives and the project's success.
Capital Partners (24.5%): Tokens for capital partners are allocated with a vesting schedule of 1.5 years, supporting early investments and network scalability.
Ecosystem (6%): This portion is set aside for ecosystem development, funding initiatives that enhance the network's capabilities and growth.
More resources
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How Wingbits Rewards Work and How to Maximize Your EarningsWingbits is changing the game for aircraft tracking by rewarding users for contributing valuable data to its decentralized network.
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