What is WING?
Wing is a credit-based, cross-chain DeFi lending platform which comes as an inovation to the digital asset lending market. The innovative highlight is given by the cross-chain interaction between DeFi products, creating and promoting a link between borrowers, creditors and guarantors.
The Flash Pool
Flash Pool is the first lending product on the Wing platform, and supports mainstream assets lending and provides lower assets risks. Users can earn WING rewards in Flash Pool by lending, loaning and depositing to the Insurance Pool. At the moment it supports Ontology (ONT), Ethereum (ETH), Tether, DAI and wrapped Bitcoin, however many assets are currently considered for addition. Assets valued over $117 million are currently deposited in the pool. Wing next project is the IF Pool, a credit based platform where users can deposit assets to borrow assets, the only criteria is that the deposited asset must cover at least 80% of the borrowing value. The Wing products will initially on Asia, Europe, and North America, and will gradually expand to the rest of the world.
The Wing DAO is the decentralized autonomous organization leaded by community members. Every proposal can be proposed for implementation and the community has the power to approve decisions on product launches and innovation. Within the Wing DAO community new DeFi content is presented through conferences and workshops. News updates and ideas are provided via social media. The platform setting distributed 68.50% of the WING tokens to the community. Half of the distribution was given to Lending Pool users in the form of interest as a reward for depositing assets. Users borrowing from the Pool received 40% of the distribution as a reward for paying interest and 10% was deposited into the Margin Pool. All Wing holder are participating in the governance of the community and they will benefit from the constant WING allocation to debtors, creditors and guarantors. Ì
130000 WING Tokens will be allocated through the Launchpool, which represents 6.5% of the total token supply of 2 million. Users can unstake the funds at any time and the rewards will be calculated and distributed daily, between 0 AM and 1 AM (UTC). The listing of WING is planed for tomorrow (16.09.2020) and the LaunchPool campaign will end in 30 days, on the 15th of October.
In 4 days since the launch of Binance campaign, I was distributed 0.0063 WING, approximately $0.36.
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