Wing Finance (WING) operates as a decentralized, credit-focused platform that facilitates crypto-asset lending and enables cross-chain interaction among decentralized finance (DeFi) initiatives. The project aims to broaden access to crypto lending by employing a credit assessment module that eliminates the requirement for substantial collateral. Structured as a decentralized autonomous organization (DAO), Wing permits its community to engage in governance, product development, and operational decisions.

By combining decentralized governance with risk management tools, Wing seeks to enhance interactions between lenders, borrowers, and guarantors. This approach has reportedly increased both the quantity and accessibility of DeFi projects using the system. A primary objective of the Wing DAO is to address the widespread DeFi challenge of over-collateralization.

The platform supports the launch of new blockchain ventures and centers its strategy on a self-governing, autonomous community. To counter problems encountered by other DeFi protocols, Wing DAO developed a credit-based DeFi framework hosted on the Ontology (ONT) blockchain. This protocol is entirely user-controlled and functions without third-party transaction verification.

The Ontology team supplied the technical backing for Wing, a credit-focused cross-chain DeFi platform that was built independently.

Wing stands out by letting users launch DAO proposals or invest without needing previous blockchain experience. Developers can secure crowdfunding by submitting proposals, while investors help guide decisions and receive a portion of future earnings via smart contracts.

The platform operates on the Ontology blockchain, chosen for its capacity to form collateral pools across various chains and digitize both new and existing assets. Ontology also provides OScore, a credit-scoring mechanism that assesses user borrowing history and digital asset data. Users maintain full account control and can privately access their OScore.

Because loans depend on OScore data, the necessary collateral is lower. Within Wing’s inclusive pool, maintaining a strong credit score is encouraged; timely repayments may lead to reduced interest rates. Other DeFi services comparable to Wing are AAVE and Uniswap.

As of February 2021, the circulating supply of WING stands at 976,314 tokens, while the total supply is 2,484,052. Serving as the governance token for the platform’s DAO, WING grants voting privileges to its holders.

You can purchase the WING token on a number of exchanges, such as: