Wing Finance

Background and History

Wing was developed to address key limitations in decentralized lending platforms, particularly the lack of support for credit-based lending and multi-chain operations. By introducing a decentralized credit-based lending protocol, Wing allows users to borrow assets using their credit scores, opening new opportunities for those without substantial collateral. The platform also offers liquidity pools across multiple blockchains, enabling users to access a variety of lending and borrowing options across Ethereum, BNB Chain, and Ontology.

Wing’s focus on inclusivity is evident in its innovative pools that allow for different types of collateralization, including NFTs. Additionally, its governance system ensures that the platform remains community-driven, with WING token holders playing a significant role in decision-making processes.

Key Features and Technologies

Cross-Chain Flash Pools

Wing offers flash pools across multiple blockchains, including Ethereum, BNB Chain, and Ontology. These pools enable users to borrow and lend assets within a specific blockchain ecosystem, benefiting from deep liquidity across various chains.

• Flash Pool (Ethereum): The Ethereum flash pool offers liquidity for major Ethereum-based assets, providing users with access to borrowing and lending opportunities.

• Flash Pool (BNB Chain): The BNB Chain flash pool allows users to participate in liquidity provisioning on the BNB Chain, supporting a wide range of assets native to that ecosystem.

• Flash Pool (Ontology): This pool operates on the Ontology blockchain, supporting Ontology EVM-compatible assets and providing cross-chain functionality through Ontology’s bridge.

NFT Pool

Wing’s NFT Pool is designed to let users collateralize their NFTs for loans. This innovation expands the use of NFTs beyond just collectibles, turning them into valuable assets that can be used for borrowing purposes. By using NFTs as collateral, Wing users gain liquidity while retaining ownership of their digital assets.

• NFT Collateralization: Users can pledge their NFTs as collateral for loans, gaining access to liquidity without having to sell their digital assets.

• Loan Flexibility: The NFT pool provides flexibility in terms of loan size and duration, making it adaptable to different user needs.

Inclusive Pool

The Inclusive Pool focuses on providing credit-based lending services. This pool enables users to borrow based on their credit scores, promoting financial inclusivity by lowering the collateral requirements for borrowers.

• ONTO Integration: Users can leverage their ONTO credit scores for borrowing purposes, unlocking access to liquidity without needing large collateral deposits.

• Ontology Bridge: This bridge allows for cross-chain asset transfers between Ontology and other blockchain ecosystems, ensuring smooth transactions for users participating in inclusive pools.

Liquidity Mining and Governance

Wing offers multiple ways for users to participate in the platform through liquidity mining and governance:

• Liquidity Mining: Users can contribute to liquidity pools on platforms like ApeSwap, BabySwap, and Flamingo, earning rewards in the form of WING tokens. This incentivizes long-term participation and helps maintain deep liquidity on the platform.

• Governance: WING token holders can participate in governance by submitting proposals and voting on key platform decisions. This decentralized governance structure ensures that the community has a say in platform development and updates.

Usage and Applications

Borrowing and Lending

Wing’s cross-chain flash pools offer users the ability to borrow and lend assets across multiple blockchain ecosystems. This flexibility allows users to optimize their asset utilization while benefiting from the deep liquidity provided by the platform. Borrowers can also take advantage of credit-based lending through the inclusive pool, reducing the need for high collateral deposits.

NFT Collateralization

With the NFT pool, users can unlock liquidity from their NFTs without selling them. This provides an innovative use case for NFTs as collateral in decentralized finance. Users retain ownership of their NFTs while accessing the capital they need through loans.

Liquidity Mining

Participants can earn WING tokens by contributing liquidity to various pools on partner platforms such as ApeSwap, BabySwap, and Flamingo. These rewards incentivize users to maintain liquidity in the platform’s pools, ensuring stable and efficient markets.

WING Token: Governance and Utility

Overview

The WING token serves as the governance and utility token within the Wing ecosystem. It enables holders to participate in decision-making processes and earn rewards for their participation in liquidity mining and other platform activities.

Tokenomics

• Total Supply: The WING token has a fixed total supply, ensuring that the platform operates under a deflationary model.

• Utility: WING tokens are used for voting in governance proposals, liquidity mining rewards, and transaction fee payments within the ecosystem.

Governance Structure

• Proposal Submission: WING holders can submit proposals for platform upgrades, parameter changes, and new feature integrations.

• Voting Power: Token holders participate in governance decisions by voting on submitted proposals, ensuring that the platform’s direction is determined by its community.

Notable Events

• August 2020 — Wing Platform Launch: Wing officially launched, introducing its core lending and borrowing functionalities with flash pools.

• December 2021 — NFT Pool Introduction: Wing launched the NFT Pool, enabling users to collateralize their NFTs for loans.

• July 2022 — Integration with ONTO Credit: Wing integrated ONTO credit scores into its inclusive pool, allowing users to access credit-based loans.

Relevant Metrics and Data

• Cross-Chain Liquidity: Wing provides liquidity pools across multiple blockchain ecosystems, offering users access to decentralized lending and borrowing opportunities on Ethereum, BNB Chain, and Ontology.

• Governance Participation: The platform operates under a decentralized governance model, with WING token holders participating in voting and decision-making processes.

• Security Audits: The platform has undergone security audits to ensure the safety of its smart contracts, enhancing user trust.