What is Wing?
Wing (WING) is a credit-based, cross-chain decentralised finance (DeFi) platform that focuses on the digital asset lending market. It facilitates connections between various DeFi products, enhancing the usability and functionality of crypto lending.
Core Features of Wing
Over-Collateralised Lending
Wing enables over-collateralised lending, allowing users to deposit assets valued at 125% or more of the amount they wish to borrow. This process ensures greater security for lenders, as collateral value exceeds the loan value.
Credit-Based Lending
In addition to over-collateralised options, Wing supports credit-based lending. Users with an OScore—a credit evaluation score—can deposit assets valued at 80% or higher than the borrowed amount. This approach expands access to loans for those with established creditworthiness.
WING Token Utility
The WING token serves multiple purposes within the Wing ecosystem. It acts as a governance tool, providing holders with voting rights on key platform decisions. Additionally, it offers interest discounts on borrowing and enables users to purchase insurance contracts for added security in transactions.
Innovative Risk Management
Wing incorporates a unique governance system alongside effective risk control mechanisms. This design fosters a more balanced relationship between borrowers, creditors, and guarantors, ensuring that all parties benefit from transactions.
Why Choose Wing?
With its combination of decentralised governance, robust risk management, and advanced credit evaluation, Wing aims to transform the way digital assets are lent and borrowed. It promotes a realistic and fair lending ecosystem within the DeFi space.
Related Resources
Comments are closed.