What is Wing Finance?
WING is the native token of Wing Finance, which is a cross-chain decentralized lending protocol. A credit evaluation module is an integral part of the project, as it rewards users for developing good credit on the blockchain. Moreover, the project is governed by the Wing DAO, which allows users to participate in decision-making processes, product design, and operation management. Besides, it's important to note that Wing Finance features a risk control mechanism.
Take a look at the live WING price that is featured on the Wing Finance price chart above.
Overall, the Wing Finance protocol supports two types of lending:
- Credit-based lending. Users can deposit assets as long as their worth is at least 80% greater than the value of the assets they borrowed.
- Over-collateralized lending. Users can deposit assets whose value is 125% greater than the value of the assets they borrowed.
The credit evaluation module that allows credit-based lending is called OScore. It evaluates a user's history of lending and borrowing, as well as their digital asset reserves. Members of Wing Finance's inclusive pool are rewarded for maintaining a high credit score. Additionally, loan interest rates are reduced for those borrowers who make on-time repayments.
Besides, it's important to mention that one of Wing Finance's unique features includes letting users make DAO proposals. Project developers who submit proposals on Wing Finance are eligible for crowdfunding. Additionally, those who contribute to the decision-making processes are able to earn a share of the future profits of the Wing Finance crypto project.
Use Cases of WING Tokens
WING tokens are the driving force of the whole project. The following are their main use cases:
- Governance. Wing Finance coin holders can become a part of the Wing DAO and participate in the decision-making processes.
- Discounts. Users who pay interest to the platform using WING tokens get interest discounts.
- Payment method. WING tokens can be used to buy insurance contracts on the platform.
- Don't forget to check the Wing Finance price chart above to see the current and the previous WING price.
Who Founded Wing Finance?
The team of the Ontology blockchain is behind the creation of the Wing Finance crypto project. Ontology was founded by Jun Li. He is a well-known blockchain solutions architect who has years of experience in the IT and financial sectors.
