Wing Is Live On OKExChain
Wing, Ontology’s credit-based cross-chain #DeFi lending platform, is now live on OKExChain to help Wing meet the strong demand for high frequency transactions on its platform.
Millions of DeFi users will be able to access Wing’s unique lending, borrowing, and insuring services. Since launching on the Ontology blockchain in September 2020, Wing has seen monumental growth. Its total value locked (TVL) has surpassed $300 bln and continues to grow.
Wing is designed to promote mutually beneficial relationships between borrowers, creditors, and guarantors, through a decentralized governance model and risk control mechanism. In alignment with this mission, OEC places emphasis on community-based operations, transparent trading rules, and user autonomy. In line with these principles, Wing launches on OEC at the first batch together with the other high quality projects (e.g. SushiSwap, Chainlink) , which allows for smart contract development. This new partnership will also allow for the integration of swaps and additional wallets.
To celebrate Wing’s OEC launch, ONTO, Ontology’s decentralized cross-chain wallet will offer WING incentives for new users of the OEC version. The initial supported assets are WING, OKT, USDT, USDC, BTCK, and ETHK, for lending/borrowing. Only WING will be eligible for the Insurance Pool. ONTO, will also support all qualified OEC dApps through a Special Zone or specific location on its platform. ONTO’s $100,000 USD engagement fund for premiere dApps will continue providing incentives together with newly launched dApps on OEC.
What is WING?
Wing has designed and is building a DeFi platform dedicated to the digital asset lending market, supporting cross-chain collaborative interaction between various DeFi products.
What is OKExChain?
OKExChain is a set of open-source blockchain projects developed by OKEx, aiming to promote the development of large scale commercial applications based on blockchain technology. It gives each participating node the same rights, allowing users to launch a variety of decentralized applications smoothly, issue their digital assets, create their own digital asset trading pairs, and trade freely. The utilisation of cross-chain technology principles is essential to allow those features to be used by anyone. Through the cross-chain module, the value interconnectivity and user interconnectivity, interconnectivity of blockchain can be realized simply and efficiently, so that we can co-construct the ecosystem and the value-added system.
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