Wing 2022 October Monthly Report
In October, Wing continues to further improve its products, launching V3.7.3 and V3.8.0. UI display of all Wing Flash Pools and NFT Pool was optimized, and the Down Payment feature aggregated X2Y2, an advanced decentralized NFT marketplace for traders. 🤩
Also in October, Wing 2nd Anniversary Festival was successfully concluded. Wing held many joint events with its partners, interacting with multiple projects and expanding its influence. Looking ahead, Wing will continue to create more benefits for the community members and users. Please stay tuned! ✨
1. TVL
Peak value: $102 million on 27th October 2022
2. Pools & Features
On Oct 20th, 2022, Wing Finance launched V3.8.0 version, which optimized UI display of all Wing Flash Pools and NFT Pool for a better user experience.
On Oct 14th, 2022, Wing Finance V3.7.3 upgrade completed. The main function update is the Down Payment feature aggregated X2Y2.
3. Community Activities
Wing x Flamingo Joint Event is on fire, APR around 22.27%. Hurry to join! 🚗
Wing Finance 2nd Anniversary Festival was successfully concluded. With the active participation and enthusiastic support of community members, the highest TVL reached $103 million. Thank you for your active participation! 🏆
Wing x TaskOn $30,500 Event Series was successfully concluded. Thank you for your active participation! 🎉
4. Monthly Community Calls
On October 7th 5:00 am (UTC), 2022, the October Community Call was hosted by community member Geoff Richards, and we invited the Ontology Ecosystem Lead Erick and the business leader of X2Y2 as guests to participate in the AMA interaction. The atmosphere was warm, and we worked together for a better future.
5. Monthly Buyback
Wing’s monthly buyback for October 2022 is ongoing and most assets are sold out.
This month, 50% of Wing DAO’s revenue was used for the buyback, according to the Wing DAO community’s joint decision. The total amount of WING bought back will be updated at the end of the auction and will be transferred to the burn address: AFmseVrdL9f9oyCzZefL9tG6UbvhPbdYzM. We will publish the relevant data in the community when the buyback is over.
6. Ecosystem Collaboration
- Wing has reached a strategic cooperation with NPic. Wing became one of NPics’ reliable NFT lending providers. Blue-chip NFTs can be purchased with a minimum of 1.8 ETH, and 103% APY is waiting for you to unlock.
- Wing Finance has an in-depth and friendly cooperation with X2Y2. Wing Finance aggregated X2Y2 in the Down Payment feature, and invited X2Y2 as a guest to participate in the Wing Community Call. Similarly, X2Y2 also invited Wing Finance to participate in the AMA with the theme “The Development of AI and Art Generation”.
- Wing Finance participated in the Halloween airdrop event held by Ivy Market, interacting with multiple projects and expanding its influence.
7. Wing DAO Marketing Fund
According to the results of the 12th Wing DAO community vote, 35K out of 70K WING generated during the Wing Genesis Mining Multiplication Event, due to the rate adjustment, can be used for Wing’s marketing. In addition, according to the results of the 39th Wing DAO community vote, 50K WING from the community fund will be used for Wing’s marketing. According to the results of the 51st Wing DAO community vote, 80K of the WING from the community fund will be used for marketing initiatives and events.
Wing DAO October spending summary:
Community Activities: 536.93 WING
Total: 536.93 WING
8. Forecast
- The UI of the Wing Finance page will be completely revised. Please stay tuned! 🤩
- Wing Pools will support flash loans. Welcome to try it out! 💰
About Wing Finance
Wing is a cross-chain decentralized lending platform. As a DeFi platform dedicated to the digital asset lending market, Wing supports cross-chain interactions between a variety of DeFi products. Users are also able to unlock the stored value of NFTs via Wing’s innovative NFT Lending Pool. Combined with the Wing DAO (decentralized autonomous organization), the platform’s decentralized governance model and risk control mechanism aim to foster mutually beneficial relationships between borrowers, creditors, and guarantors. In addition, Wing offers an innovative credit evaluation module that rewards users for developing good credit on the blockchain.
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