Wing Finance Introduce New Lending Pool
April 20, 2021, Wing Finance a credit- based platform that is build on Ontology blockchain have launched Any Pool.
Any Pool is a decentralized Lending Pool for any asset. It will act as the pawnbroker, accepting traditional assets as collateral for lending, while keeping vital DeFi features including decentralization, trust, and cost-efficiency.
Three types of participants in the Any Pool:
🔹 Borrowers
🔹 Lenders
🔹 Liquidators
Initially, borrowers will need to designate collateral assets, desired assets, debt maturity, annualized interest rate, interest payout frequency, effective date, and expiration date
Once debts are successfully issued, debt tokens will be distributed to lenders as ownership of debt. Unlike aTokens or cTokens, debt tokens are only redeemable when debts have matured and are repaid. Therefore, there will be a DEX for users to trade debt tokens before maturity to release lenders’ liquidity and swap fixed-rate interest yields.
Collateral Criteria
Any Pool allows any kind of lending but still there some limitations for accepting assets.
The Following Asset are Acceptable
💥 Crypto-native assets–this includes BTC, ETH, stablecoins, and altcoins.
💥 DeFi derivative tokens–this includes interest-bearing tokens(aToken, cToken), LP tokens, staking derivative tokens, leveraged tokens, synthetic tokens and others
💥 NFTs–This includes art NFTs, game collectibles and Uniswap v3 LP NFTs
💥 Traditional assets–this includes anything with value on the secondary market can be collateralized in the future: real estate assets, accounts receivable, jewelry, antiques, T-shirts, your used Kobe 9 shoes, tickets to mars, etc.
Wing Finance have already launched 3 more pools and this includes:
💠 Inclusive Pool a credit-based lending pool that supports three assets: USDT, USDC, and DAI
💠 Flash Pool Ethereum
💠 Flash Pool Ontology
ABOUT Wing Finance
Wing built a decentralized finance (DeFi) platform to support cross-chain collaborative interaction between various DeFi products.
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