Wing is a credit-based, cross-chain DeFi lending platform.
Wing has designed and is building a platform dedicated to the digital asset lending market, supporting cross-chain collaborative interaction between various DeFi products. Wing's decentralized governance model and risk control mechanism aim to promote a mutually beneficial relationship between borrowers, creditors, and guarantors. In addition, Wing innovatively showcases a credit evaluation module as a strong example of credit-based decentralized lending.
- Supports cross-chain collaboration and decentralized governance between a range of DeFi projects
- Introduces a risk control mechanism, promoting a mutually beneficial relationship between borrowers, creditors and guarantors
- Breaking barriers between DeFi and traditional Finance through decentralized credit systems
- Flash Pool (Lending, Borrowing and Insurance): The first lending product on Wing, supporting mainstream assets lending and innovatively introduces Insurance Pool to lower assets risks. Users can earn WING rewards in Flash Pool by lending, loaning and depositing to the Insurance Pool. It currently supports assets including but not limited to ONT, ETH, wBTC, USDT, and DAI, and will support more assets in the future.
- Credit Lending: Coming up next, Wing will launch the IF Pool, which is a credit-based lending product where users with an OScore can deposit assets which value is 80% or higher than that of the assets borrowed.
- Community Proposals: Wing DAO is a decentralized autonomous organization where community members are encouraged to spontaneously put forward proposals for decentralized financial services. The community has the power to make independent decisions on product launches based on community participation and is autonomous in product application rules, and the termination and cancellation of products.
Wing’s Vision for Credit-Based DeFi Project
Wing has designed and is building a DeFi platform dedicated to the digital asset lending market, supporting cross-chain collaborative interaction between various DeFi products. Wing’s decentralized governance model and risk control mechanism intend to promote a mutually beneficial relationship between borrowers, creditors and guarantors. In addition, Wing innovatively showcases a credit evaluation module as a strong example for credit-based DeFi.
Wing has mapped out a blueprint outlining how it will grow in the following areas:
- Introducing new types of collateral
Wing will add a variety of collateral types to its platform, and work to expand the digitized collateral types for multiple assets
- Incorporating the element of decentralized credit
Wing is planning to integrate self-sovereign credit scores into the design of its financial products, so that user's data and credit can be of value in helping the user to acquire financial services.
- Enlarging Wing’s decentralized autonomous organization for financial services (Wing DAO)
Wing DAO encourages community members to spontaneously put forward proposals for decentralized financial services. The community has the power to make independent decisions on product launches based on community participation, and is autonomous in product application rules, and the termination and cancellation of products.
Why work with the Ontology blockchain?
In order to design a truly innovative DeFi product, the infrastructure chain chosen to launch on needs to be equipped with two vital components:
First, a wide range of collateral types need to be supported.
Ontology is capable of building a collateral pool composed of digital assets from a range of different blockchains through cross-chain support via its collaboration with Poly Network. Ontology also offers decentralized identity and data protocols to allow the digitization and authentication of new and existing types of digital assets. New potential collateral types range from simple non-fungible tokens (NFTs) to more complicated tokenized real estate and other real-world assets that require a mix of verifiable ownership records and attribute descriptions to properly digitize.
Second, the infrastructure chain needs to be armed with a decentralized and automated credit evaluation system based on smart contracts.
Ontology’s decentralized identity (ONT ID) and decentralized data (DDXF) protocols support self-sovereign identity and data management verification, and are capable of implementing the actions of automated credit data verification and credit evaluation utilizing smart contracts.
In addition, Ontology also launched a credit scoring system, OScore, which is based on users’ digital asset information and lending/borrowing history. Users holdself-sovereign ownership of their account and can generate their OScore in such a way where their data privacy is under their control. OScore will prove an important tool to the design and execution of credit-based DeFi products.
- Total Token Supply: 2,000,000 WING
- Initial Circulating Supply: 18.46% of Total Token Supply
- Max Token Supply: 10,000,000 WING
- Private Sale Token Price: No Private Sale
- Token Type: OEP4 (Ontology)
All the above information is provided by WING (Wing).