In the swiftly evolving world of decentralized finance (DeFi), Wing Finance stands out as a pioneering credit-based, decentralized platform designed for crypto-asset lending and cross-chain communication. By integrating a credit evaluation module, Wing Finance aims to make crypto lending services more inclusive, eliminating the need for hefty collaterals. As a decentralized autonomous organization (DAO), it empowers users to actively participate in decision-making, product design, and operations. With its unique governance and innovative risk control mechanisms, Wing Finance is not only enhancing relationships among creditors, borrowers, and guarantors but also tackling the critical issue of over-collateralization that plagues the DeFi industry. Dive in to explore how Wing Finance is reimagining the dynamics of decentralized finance and pioneering a new era of accessible crypto lending.

What Is Wing (WING)?

Wing is a credit-based, decentralized platform designed for crypto-asset lending and cross-chain communication between decentralized finance (DeFi) projects. The project aims to make crypto lending services more inclusive through a credit evaluation module that removes the need for large collaterals. Wing is a decentralized autonomous organization (DAO) that allows users to take part in decision-making, product design, and operations.

Wing uses decentralized governance coupled with a risk control mechanism to improve the relationships between creditors, borrowers, and guarantors. This has led to an improvement in the number of and accessibility to DeFi projects utilizing the platform. One of the goals of Wing DAO is to solve the issue of over-collateralization that plagues the DeFi industry.

The platform allows for the creation of new blockchain projects and focuses its efforts on a decentralized and autonomous governing community. In response to the issues faced by other DeFi projects, Wing DAO has built a credit-based DeFi protocol that runs on the Ontology (ONT) blockchain. The protocol is fully controlled by the users and requires no third parties to confirm transactions.

Who Are the Founders of Wing?

Wing is the credit-based cross-chain DeFi platform developed and operated by the Ontology team.

What Makes Wing Unique?

One unique feature of Wing is that it allows users to set up a DAO proposal or become an investor on the platform even without prior knowledge or interaction with the blockchain. Wing offers project developers a chance to receive crowdfunding when they submit proposals. Investors have the opportunity to contribute to decision-making and in return earn a share of future profits through smart contracts.

Wing is built on the Ontology blockchain due to its ability to create collateral pools across different blockchains. Ontology enables the digitization of new and existing assets.

The blockchain also has a feature called OScore, which is a credit-scoring system. OScore evaluates the lending/borrowing history and digital asset information of the users. Users on the platform have full control over their accounts and can access their OScore securely to ensure data privacy.

In addition, since borrowers have to rely on their OScore data for loans, the collateral required to make loans on the platform is reduced. In Wing’s inclusive pool, users are incentivized to keep a good credit score. Users who repay their loans on time may enjoy lowered interest rates on their loans. Some DeFi platforms similar to Wing include Uniswap and AAVE.

How Many Wing (WING) Coins Are There in Circulation?

The WING token has a circulating supply of 976,314 tokens as of February 2021 and a total supply of 2,484,052. WING is the governance token of the platform’s DAO, and as such it confers voting rights on its holders.

Wing launched its initial coin offerings (ICOs) between November 2016 and January 2017 and was able to raise $1.7 million in funding.

Where Can You Buy Wing (WING)?

The WING token can be bought on several exchanges, including:

• Binance
• OKEx
• Hoo

Read more here to learn how to buy Bitcoin (BTC) and other cryptocurrencies.

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Tokenomics and Distribution Model

The tokenomics of Wing Finance (WING) is based on a "buyback and burn" policy, where half of the monthly income is used to buy back WING tokens from the market and burn them, reducing the total circulating supply. The total supply of WING tokens is 10 million, with 80% of them (8 million) released regularly as liquidity incentives and deposited-based incentives, while the remaining 20% (2 million) is kept in escrow for the Wing DAO community fund. The circulating supply of WING tokens is 4.3 million, as of the time of writing. The fully diluted valuation (FDV) of Wing Finance (WING) is BTC695.9904, representing the maximum market cap if all 10 million WING tokens were in circulation today.

Token Distribution Model

1. Total Supply: The total supply of WING tokens is 10 million.
2. Token Distribution Model:
3. Team: The team has 20% of the total supply (2 million WING tokens) kept in escrow for long-term community governance, risk control, and emergency response actions.
4. Investors: There is no specific information available about the allocation of WING tokens to investors.
5. Community: 80% of the total supply (8 million WING tokens) is released regularly as a form of liquidity incentive and deposited-based incentive.
6. Other Stakeholders: The remaining 20% (2 million WING tokens) is kept in escrow for the Wing DAO community fund, ensuring long-term community governance, risk control, and emergency response actions.

Mechanisms to Control Inflation

Wing Finance follows a "buyback and burn" policy, where the project generates a monthly income, and half of it is used to purchase back WING tokens from the market to burn them later. This reduces the total circulating supply of WING in the market, making it a more costly asset.

Use Cases

WING tokens are used for governance, voting, and staking. Holders