What Is Wing Finance (WING)?
Wing Finance is a decentralized cross-chain credit-based lending platform. Wing has built a platform for decentralized finance (DeFi) that enables cross-chain collaboration between various DeFi products.
The combination of the platform's decentralized governance model and Wing's risk control mechanism promotes healthy relations between borrowers, creditors, and guarantors. This relationship offers a broader variety of DeFi products on the platform. It thus provides users with better quality DeFi products. Wing's platform provides a robust credit valuation module as solid support for DeFi credit products.
According to its whitepaper, the Wing DAO supports proposals by the community to establish new asset market product pools. Each product pool consists of three components: a lending pool, a borrowed pool, and an optional risk control margin pool. The margin pool receives 5 percent of interest revenue from each loan. If there is no margin pool, the funds are deposited into the Wing DAO community fund pool.
Wing DAO's fundamental governance rights include:
Approval of a new product pool through voting.
The WING token is included in product pool rules (for example, as one of the default asset types in the margin pool).
Token allocation for Wing DAO community fund.
Voting on other new governance mechanisms.
In the Wing Finance ecosystem, WING is the governance token. WING votes on and determines the outcomes of WING Improvement Proposals (WIPs). In addition, WING can be staked in Wing's Insurance pool to guarantee security and insurance to the protocol and suppliers. Staker rewards are offered for staking WING.
The token distribution in the Wing Finance ecosystem is as follows:
The Wing DAO Flash Pool is a collateral-based fund pool built on the Wing DAO platform and inspired by Compound. The insurance pool mechanism lowers collateral rates. The compound protocol is an algorithmic, autonomous system built to create various open financial applications.
History of Wing Finance (WING)
Wing Finance has a total supply of ten million WING tokens in the project.
