Wing 2021 May Recap
May has been another exciting month at Wing Finance. Most notably, Wing successfully launched on OKExChain. Wing’s integration with OEC expands Wing’s unique supplying, borrowing, and insuring services to OEC users and dapps.
1. TVL
Since launching on the Ontology blockchain in September 2020, Wing has seen monumental growth. Its total value locked (TVL) recently surpassed $300 million and continues to grow. This month, Wing reached a peak TVL of $375 million! Wing’s TVL has since declined, reflecting a drop in value of the overall cryptocurrency market.
2. New Pools & Features
Wing’s OKExChain version of the Flash Pool launched on May 14, 2021. OKExChain users can now take advantage of Wing’s lending, borrowing, and insuring. A number of guides were published to help new users get started, including a Flash Pool mining tutorial and an ONTO/OKExChain beginner’s guide. New users can also watch the Wing Finance video tutorial, published last month.
3. Community Activities
- To celebrate Wing’s launch on OKExChain, Wing hosted multiple airdrop events for both WING and ONT/OKT. Wing Flash Pool’s (OKExChain) TVL reached $11.49 million on May 19, 2021, attracting 4,320 addresses to participate in Wing Flash Pool (OKExChain) in the first 7 days!
- More than 100 users participated in social media promotional activities and shared them with their friends.
- Wing hosted two community votes, WIP-37 and WIP-38; both proposals passed (see table for details).
4. Monthly Buyback
Wing’s eighth community auction and monthly buyback went smoothly, with all assets sold.
In line with the Wing DAO consensus, 50% of this month’s revenue was used for the buyback, with a total of 15402.755128895 WING bought back.
Repurchased WING has been transferred to the burn address: AFmseVrdL9f9oyCzZefL9tG6UbvhPbdYzM.
5. Ecosystem Collaboration
Support for WING is growing. Chainlink launched two new BSC-based price feeds, $WING/USD and $ONT/USD. WING was also added to SushiSwap’s (OEC) list of default assets on OKExChain. Finally, PolyNetwork now supports WING transfers between Ethereum, Ontology, and OKExChain.
6. Wing DAO Marketing Fund
Based on WIP-12, 35,000 WING was allocated for marketing.
May’s Wing DAO marketing expenses are as follows:
- Community: 509.99
- Media: 1755.41
- Campaign: 6521
- KOLs: 596.76
- Translations: 300
- MKT Materials Production: 500
- Total: 10183.16 WING
