BSClaunch Research: An In-depth overview about WingStep

KEY METRICS

• Category: M2E, Web3, Metaverse
• Ticker $WST
• Decimal: 18
• Blockchain Network: BNB Chain
• Token Supply: 500,000,000 WST
• Project Valuation: TBA
• Initial Token Circulation: 30,000,000 WST
• Initial Market Cap: 300,000 USD
• Total Raise: 750,000 USD

A. INTRODUCTION

1. PROJECT OVERVIEW

WingStep is a Web3-based fitness and health tracking mobile app with integrated NFT gaming and social media elements.

WingStep seeks a balance between health, wealth, and social interaction and converts millions of the non-crypto runners, gymers to the crypto players and offset carbon.

2. GO-TO-MARKET STRATEGY

Targeted markets: Korea, Japan, Vietnam, China, Singapore, Netherlands, UK, Switzerland, USA, Australia, and Turkey.

Phase 1: Community building activities, target: 50K members telegram,30k Twitters, 20K discord, and 30k Youtube

• WST/ NFT airdrop campaigns
• Minigame, shilling contests
• Press release on PRNewswire and its partners
• Ads campaign on Facebook, Youtube, TikTok, and Instagram (brand awareness)
• Crypto/ traditional KOLs/ influencers review about WingStep
• Alpha & Beta testnet with a series of activities to attract crypto/ non-crypto users
• Shill & seeding activities on Move-to-earn, NFT, Gamefi groups, etc.

Phase 2: IDO/ INO/ Listing

• Airdrop
• AMA series with Launchpad, media partners
• Ads campaign on Facebook, Youtube, TikTok, and Instagram (call to Buy/ Hold WST/ NFTs)
• KOLs / influencers review about WingStep + introduce about IDO/ INO
• Listing CMC, CGK, Audit
• Ambassador Programs in the local Community.
• Staking/ Farming pool
• Promotion on famous crypto Newspapers, Magazines.
• Shill & Seeding activities on Move-to-earn, NFT, Gamefi groups, etc.
• Offline activities in Korea to promote WingStep

Phase 3: Product growth target: 70–100K app users.

• Main-net launch with a series of activities to attract crypto/ non-crypto
• Fitness KOLs review about WingStep app.
• Introduce limited NFTs with Sport Band free shipping worldwide.
• Conduct a special NFT sale and ship the Sport Band to its owner after purchase.
• Establish offline health clubs in countries: Korea, Japan, Vietnam, China, Singapore, Netherlands, UK, Switzerland, USA, Australia…
• Negotiate with Xiaomi about tracking sensors attached to Sneaker to collaborate produce WingStep Smart Shoe products.
• Negotiate with Tag Heuer to produce a Smart Watch product that integrates WingStep and NFT apps.

B. PRODUCT DETAILS

1. PRODUCT VIABILITY

WingStep makes the difference with other move-to-Earn projects in terms of :

a) Non -VC funding rounds, the project takes the community-focused strategy.

b) WingStep’s outstanding features that make users balance health, wealth, and social interaction.

• Five game modes: Personal mode, Party mode, Arena, Weekly Pass, Mission,
• SocialFi: WEB3 social platform with NFT integration, focusing on sharing content. Users can mint an article then assign it to a standalone NFT, earn rewards from their fans, etc…
• DeFi Zone: users earn passive income via staking WST, WSS, and Farming NFTs.
• In-app Marketplace
  Internal wallet & Blockchain wallet
• NFT Sneakers, Gem Socket, and badges

c) Token & NFT deflationary mechanism

• DeFi Zone is well designed to continuously increase the TVL to keep the balanced economy
• WST is used as fees for processing transactions, and operation in WingStep and burn all WST token fees from in-game activities (Except buying NFTs)
• DeFi Zone: It is compulsory to lock $WST/ $WSS in 3 months to receive the NFT box reward and stake NFT Sneaker in the same duration to receive token rewards.
• Minting NFTs: merging 2 NFTs of the same rarity to obtain 1 new NFT of same or higher rarity (see the ratio in the whitepaper). The NFT minting cost $WST. The two original NFT Sneakers are burned.
• NFT Sneakers are required to be upgraded, and repaired after a certain period. Those tasks cost $WST.
• The AFK mechanism (Punishment) reduces the durability of that NFT Sneaker by 25% when the user does not use Sneaker for a certain amount of time. It encourages users to practice very often and have to repair their sneakers often which cost WST.
• NFT Sneaker can be ONLY sold on the Marketplace when it reaches certain levels, depending on their rarity/ stats.

2. TECHNOLOGY

- Blockchain: BNB Chain

BSC does offer fast and cheap transactions while maintaining a secure and scalable network at the same time, the network itself is highly centralized.

- Server-side: NodeJs, .Net Core

NET Core is a new, open source, modular, cross-platform, extensible, asynchronous, and a much leaner framework.

Node.js is an open-source and cross-platform JavaScript runtime environment. It is a popular tool for almost any kind of project. Especially many strong and secure libraries to integrate with blockchain.

Using the high performance of .Net Core combined with the convenience of interacting with the blockchain of NodeJs, The system will optimize all processing situations.

- Client-side: ReactJs, React Native

React Native is a cross-platform app development that has witnessed a sudden surge in demand over the past few years.

ReactJS is the highly used open-source JavaScript Library.

Both of them are maintained by Facebook, together with the developer community. It is used by the leading companies, like Apple, PayPal, and Netflix, while over 32 thousand websites are built using React JS framework.

3. PRODUCT DIVE

The product focuses on improving the user’s fitness first, then earning profits from their moves, in-app DeFi activities, and social interactions.

+ To join WingStep, just very simple steps to join

1. Download the WingStep app.
2. Register a new account with email and password
3. Connect your wallet or skip this step.
4. Buy a pair of NFT sneakers or use the NFT for free.
5. Experience the app and start working out

+ Game modes:

• Solo mode — Basic M2E
• Party Mode — Run with group of friends
• Arena
• Mission
• Weekly Pass

+ SocialFi:

+ DeFi Zone: Passive Income with NFTs and Tokens (https://whitepaper.wingstep.io/gamefi-system/defi-zone)

4. PROJECT ROADMAP

Phase 1:

• Blogger/KOL
• Community MKT
• Introduce Project
• WhitePaper
• Token Generation

Phase 2:

• NFT pack flashshare
• Introduction App
• INO
• IDO
• Listing

Phase 3:

• App ver 1 release
• Mission release
• NFT limited with KOL
• Presale limited slot

Phase 4:

• App ver 2 release
• New Feature update
• Runner Club release
• New NFT with Real
• NFT limited open sale
• Metaverse Introduce
• Tournament release

Phase 5:

• Arena release
• Create To Earn
• Social Network open
• Train To Earn

5. REVENUE STREAMS

• The firstphase of project launch: Revenue comes from NFT selling, Market Making, and Transaction Fees.
• 2nd phase of project growth: limited NFTs with Sport Band free shipping worldwide, Smart Watch product that integrates WingStep and NFT apps.
• 80% of the revenue was used for the project’s Finance activities, 10% for Marketing activities, 10% for the development team

C. TOKEN ECONOMY

1. TOKEN UTILITIES

Earn $WST from:

• Staking, farming in DeFi Zone
• Sell NFTs in the Marketplace
• Happy Box

Use $WST for:

• Fees for processing transactions.
• Mint, Repair, upgrade NFTs, Unlock Gem Socket, Buy energy
• Staking, Farming in DeFi Zone
• Buy NFTs in the Marketplace
• Convert $WSS into $WST to perform liquidity
• Governance vote to determine the development game features, roadmap…

2. FUNDRAISING STATUS

Public Sale

Fundraised: 750,000 USD

Price: 0.01 USD

Lock-up: 40% at TGE, cliff 1 month/Vesting 6 months

3. TOKEN DISTRIBUTION

Public Round: 15%

Team: 15%

Partner: 5%

Ecosystem: 49%

DeFi/LP: 11%

Marketing: 5%

4. TOKEN RELEASE SCHEDULE

Public Round: 1 Month cliff, vesting for 6 months

Team: 6 Month cliff, vesting for 12 months

Partner: 3 Month cliff, vesting for 12 months

Ecosystem: 10% Online/ Vesting 24 months

DeFi/LP: On-Demand

Marketing: Vesting 6 months

E. BACKGROUND

1. Team Information

Founder and CEO
Danny Lee

He has been active in the crypto industry since early and has had great success. He founded a lotof blockchain and crypto startups that make it easier for traditional Korean businesses to access the crypto space.

Founder and COO
Park Weonsik

6 years of game planning and DP

COO The Soul Maindex Business

Mobile Business Ending manager

Apply Mobile Korea, PM and Games Onechip Co., Ltd

CMO
Park Sang Hyung

29 years of expertise in online marketing

STK online, offline Agency (B2B, B2C)

Viral Marketing, services provided by three telecommunication companies

CTO and DB
Michael Scott

25 years off experience in game creation and planning

Planning and producing blockchain game

CEO InfoNEX Game

Development Director of Tunami Games Co., Ltd

CEO NAMANA Systems Co., Ltd

CPO
David Brent

CEO of Max Labs

CEO of Blocksun

5 years of experience in blockchain

ABOUT WINGSTEP

WingStep is a Web3-based fitness and health tracking mobile app with integrated NFT gaming and social media elements.
WingStep seeks a balance between health, wealth, and social interaction and converts millions of the non-crypto runners, gymers to the crypto players and offset carbon.

Follow WingStep on:
🌐 Website | 🔉 Twitter | 💬 Telegram

About BSClaunch

BSClaunch is a smart investment platform based on Binance Smart Chain, enabling projects to raise capital in a decentralized environment, and the community to invest with safety, freedom, and equal opportunity. BSClaunch isn’t just another launchpad, we are an ecosystem launcher that provides a full suite of DeFi solutions.

Follow BSClaunch on:

🌐 Website | 🐦 Twitter | 🔉 Channel | 💬 Telegram

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