Wing Is Now Live On Binance Smart Chain
Wing, the credit-based, cross-chain decentralized lending platform developed by Ontology, the project bringing trust, privacy, and security to Web3 through decentralized identity and data solutions, is now live on Binance Smart Chain (BSC).
By integrating onto BSC, a blockchain known for its high speeds and low fees, Wing will open up its unique lending, borrowing, and insuring options to millions of new DeFi users. The initial supported assets include WING, ONT, BTCB, ETH, BNB, USDT, BUSD, USDC, DOT, ADA, BCH, XRP, DAI, LINK, LTC, DOGE, CAKE, and FIL.
Since launching on the Ontology blockchain in September 2020, Wing has seen monumental growth in total value locked (TVL), as well as in levels of lending and borrowing activity between users. Its TVL has increased astronomically to over $300 million, driven by its launch on Ontology, Ethereum, OEC, and now BSC. BSC holds over a $19.5 billion worth of transaction value, meaning there is massive potential for even further growth in Wing’s TVL.
Commenting on the milestone, Erick Pinos, Americas Ecosystem Lead of Ontology said:
We are excited for BSC users to finally have the opportunity to experience Wing’s unique lending and borrowing services. Wing recently celebrated its first birthday and its arrival on BSC is an exciting development that will bring many new users to the platform. Wing’s TVL has grown considerably in the last year and with the expansion to Binance, more liquidity will become available to users.
About Wing
Wing is a credit-based, cross-chain decentralized lending platform. By building a DeFi platform dedicated to the digital asset lending market, Wing supports cross-chain collaboration between different DeFi products. Combined with the Wing DAO, the platform’s decentralized governance model and risk control mechanism aim to foster a mutually beneficial relationship between borrowers, creditors, and guarantors. In addition, Wing innovatively showcases a credit evaluation module as a strong example of credit-based DeFi.
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