The goal of allowing to block the funding release is to allow responsible funding of protocol ideas. Upon the completion of each milestone, the developer can request to release the funds for the next milestone. The community that funded the idea can verify the previous milestone, and if they are not satisfied with the deliverables, they can vote to block the release of the next milestone of funds.
The voting period for blocking funds will be 1 week and only people that participated in the funding of that proposal will be eligible for voting, with their vote weight being proportionate to the amount they funded. A minimum of 80% of raised funds will be required to vote to block the release of funds. Proposals with only 1 milestone cannot be blocked as the funds for the first milestone are automatically released.
For example: If proposal A raised 100 ETH from 10 different people, with the funding spread over 5 equal milestones, the developer will automatically receive 20 ETH upon the completion of the funding period for the first milestone. If 80% of funds (in this example, 80 ETH) vote to block the funding, the funding will be blocked and funders will be able to withdraw their remaining proportionate ETH.
If a milestone is blocked and the none of the funders initiate a refund, the developer can fix any issues which cause the block in the first place and request an un-block vote.
The next steps will be to allow the election of community Wardens, enabling them to eventually replace the Foundation role as the Warden and make WINGS a fully functioning Decentralized Autonomous Organization.
In other news, the WINGS team said it is closer than ever to make the next WINGS stage public.
