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Wing Finance: A Credit-Based, Decentralized Platform for Crypto-asset Lending

Wing Finance is a decentralized platform specifically designed for crypto-asset lending and cross-chain communication within the decentralized finance (DeFi) sector. The main objective of this project is to promote inclusivity in crypto lending services by utilizing a credit evaluation module that eliminates the need for large collaterals. As a decentralized autonomous organization (DAO), Wing Finance enables users to actively participate in decision-making processes, product design, and operations.

Wing Finance implements decentralized governance mechanisms along with a risk control system to strengthen the relationships among creditors, borrowers, and guarantors. This approach has significantly enhanced the adoption and accessibility of DeFi projects utilizing the Wing Finance platform. One of the primary goals of the Wing Finance DAO is to address the issue of over-collateralization that often hinders the growth of the DeFi industry.

The platform not only facilitates the creation of new blockchain projects but also places an emphasis on decentralization and autonomous governance. In response to the challenges faced by other DeFi projects, Wing Finance DAO has developed a credit-based DeFi protocol running on the Ontology (ONT) blockchain. This protocol is completely controlled by its users and eliminates the need for third-party involvement in transaction confirmation.

The Visionaries Behind Wing Finance

The credit-based cross-chain DeFi platform, Wing Finance, has been developed and operated by the Ontology team.

Unique Features of Wing Finance

One of the distinctive characteristics of Wing Finance is its ability to allow users to set up a DAO proposal or become an investor on the platform without any prior knowledge or interaction with the blockchain. By submitting proposals, project developers have the opportunity to receive crowdfunding. Investors, on the other hand, can contribute to the decision-making process and earn future profits through smart contracts.

Wing Finance has chosen to build its platform on the Ontology blockchain due to its ability to create collateral pools across various blockchains. Ontology enables the digitization of both new and existing assets.

Additionally, the blockchain features a credit-scoring system known as OScore. OScore evaluates the lending and borrowing history as well as digital asset information of users. Platform users have complete control over their accounts and can securely access their OScore to ensure data privacy.

Furthermore, Wing Finance reduces the collateral required for loans by allowing borrowers to rely on their OScore. In the inclusive pool of Wing Finance, users are incentivized to maintain a good credit score. Those who repay their loans on time may enjoy lower interest rates. Some DeFi platforms similar to Wing Finance include Uniswap and AAVE.

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WING Coin Circulation

As of February 2021, there are 976,314 WING tokens in circulation out of a total supply of 2,484,052. WING serves as the governance token for the platform's DAO, granting voting rights to its holders.

Wing Finance conducted its initial coin offerings (ICOs) from November 2016 to January 2017, successfully raising $1.7 million in funding.

Where to Buy Wing Finance (WING)?

The WING token is available for purchase on several exchanges, including:

• Binance
• OKEx
• Hoo

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