Wing Finance has built a Decentralized Finance (DeFi) platform to support interconnection between various products.
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Description of the Wing Finance project
By combining the platform's decentralized governance model, Wing's risk control mechanism fosters favorable relationships between borrowers, lenders and guarantors, enabling a wider range of DeFi plans on the platform and providing users with more premium DeFi products.
There are currently two types of pools: flash pool and inclusive pool. Flash Pools - collateral funds on the Wing DAO platform with different versions, based on several popular blockchain networks. They reduce the rates of collateral by introducing an insurance pool mechanism. An inclusive pool - an asset pool that aggregates loan elements, based on the Wing DAO structure.
Other features of the defi app:
| 1 | If the borrower's address reaches 100% of the loan limit, the borrower's collateral assets will be liquidated. Liquidators can repay loans at the discounts below and thus receive a liquidation bonus. |
| 2 | WING tokens are distributed, based on the user's contribution to DeFi projects on the Wing platform. |
| 3 | Currently, WING tokens can be earned by performing supply, loan and insurance activities in the Flash Pool and Inclusive Pool. |
The collateral factor - a parameter that limits the maximum amount that a user can borrow, using a particular asset as collateral. Each asset in Flash Pools has specific meanings, associated with their risk, which affects how they are borrowed. The parameter calibration for the Wing Project is more aggressive as the Wing ecosystem has some educated users and liquidatorss.
More about crypto defi dapp
Since all DeFi projects on Wing are on the Ontology chain, only wallets that support Ontology-based assets can help to perform operations. The Wing platform currently supports Cyano Mobile and ONTO mobile wallets, as well as Metamask and Cyano browser plugin wallets for cross-chain asset exchange. You can get more information about the project through the introductory document. Also, there is a WhitePaper.
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