Wing, Ontology’s Cross-Chain DeFi Lending Platform, Now Live On OKExChain
Reinforcing its status as a fully fledged cross-chain DeFi platform spanning multiple blockchains, our latest announcement follows the launch of Wing on Ethereum last month.
Wing, the credit-based cross-chain DeFi lending platform developed by Ontology, the public blockchain specializing in decentralized identity and data, is now live on OKExChain (OEC).
Join now: https://flash.wing.finance/okexchain/
Wing’s integration with OEC, the open-source trading chain known for safe and efficient decentralized finance architecture, will 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 million 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.
This month, further asset classes were added to Wing’s credit platform through the launch of “Any Pool,” which allows for the contractualization and lending of any asset. This innovative feature allows real-world assets such as real estate to be used as lending collateral. To facilitate this, Wing recently partnered with UPRETS, a company that digitizes real estate assets to make them tradable on blockchains.
