Article Summary, Automatically Generated By AI
Summary of Wing Finance
Key Points
- Wing is a decentralized, credit-based platform for crypto-asset lending and cross-chain communication between DeFi projects.
- It aims to make crypto lending services more inclusive by removing the need for large collaterals.
- Wing is a DAO that allows users to participate in decision-making, product design, and operations.
Numbers and Figures
- 976,314: Circulating supply of WING tokens as of February 2021.
- 2,484,052: Total supply of WING tokens.
- $1.7 million: Funding raised through ICOs between November 2016 and
Introducing Wing Finance: Empowering Decentralized Lending
Introducing Wing (WING): A Comprehensive Overview
Wing is a decentralized, credit-based platform tailored to facilitate crypto-asset lending and seamless cross-chain communication between decentralized finance (DeFi) projects. By introducing a novel credit evaluation module, the project seeks to democratize crypto lending services, eliminating the need for substantial collaterals. As a decentralized autonomous organization (DAO), Wing empowers users to participate in decision-making processes, product design, and operational management.
Wing leverages decentralized governance, bolstered by a robust risk control mechanism, to foster harmonious relationships between creditors, borrowers, and guarantors. This synergy has resulted in a significant increase in the number of DeFi projects leveraging the platform, as well as enhanced accessibility. A primary objective of Wing DAO is to address the pervasive issue of over-collateralization that has long plagued the DeFi industry.
The platform facilitates the development of innovative blockchain projects, with a strong emphasis on fostering a decentralized and autonomous governing community. In response to the shortcomings of existing DeFi projects, Wing DAO has successfully designed a credit-based DeFi protocol, which operates seamlessly on the Ontology (ONT) blockchain. Notably, this protocol is entirely user-centric, eliminating the need for third-party validation of transactions.
The Visionaries Behind Wing: Meet the Founders
Wing is a pioneering, credit-based, cross-chain DeFi platform, meticulously developed and operated by the esteemed Ontology team.
Wing’s Distinctive Edge: A Cutting-Edge Lending Platform
Wing boasts a distinctive feature that empowers users to establish a DAO proposal or assume the role of an investor on the platform, unhindered by a lack of prior knowledge or experience with blockchain technology. By submitting proposals, project developers can leverage Wing’s crowdfunding capabilities. Meanwhile, investors are afforded the opportunity to participate in the decision-making process, and in return, they can earn a share of future profits through the execution of smart contracts.
Wing is built on the Ontology blockchain, leveraging its unique capability to establish collateral pools that transcend individual blockchain boundaries. This enables the seamless digitization of both new and existing assets.
The blockchain boasts a distinctive feature known as OScore, a cutting-edge credit-scoring system. This innovative mechanism meticulously evaluates the lending and borrowing history, as well as digital asset information, of users on the platform. Notably, users retain full autonomy over their accounts, and can securely access their OScore, thereby ensuring the utmost data privacy.
In addition, the reliance on OScore data for loan applications enables a reduction in the collateral required to secure loans on the platform. Within Wing’s inclusive ecosystem, users are motivated to maintain a stellar credit history, as timely loan repayments can lead to preferential interest rates on future borrowing. Notably, Wing shares similarities with other prominent DeFi platforms, such as Uniswap and AAVE.
Wing (WING) Coin Circulation: A Quantitative Breakdown
As of February 2021, the WING token boasts a circulating supply of 976,314 tokens, with a total supply of 2,484,052. Notably, WING serves as the governance token of the platform’s decentralized autonomous organization (DAO), thereby granting its holders voting privileges.
Wing successfully launched its initial coin offerings (ICOs) between November 2016 and January 2017, securing a substantial $1.7 million in funding.
Where to Acquire Wing (WING) Cryptocurrency
The WING token is listed on multiple prominent exchanges, including:
- The esteemed Binance
- The renowned OKEx
- The distinguished Hoo
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