Binance Launchpool, designed to bring the decentralized finance (DeFi) experience to Binance users, today announced its second project called Wing, a credit-based cross-chain platform.
Wing has launched a decentralized autonomous organization (DAO) initiative called Wing DAO for decentralized financial services that integrates elements of credit. Wing can support the construction of decentralized financial products that combine collateral value and credit assessment, as well as more decentralized social governance and autonomy.
Wing's first loan product, supporting conventional asset loans and innovatively introducing the Insurance Pool to reduce asset risks. Users can earn WING rewards at Flash Pool when Lending and depositing in the Insurance Fund. It can support assets including but not limited to ONT, ETH, BTC, USDT, and DAI, etc.
Next, Wing will launch IF Pool, which is a credit-based lending product in which users with an 'OScore' can deposit assets with a value of 80 percent or more than the assets loaned.
Wing is Binance Launchpool's second project and, with their participation in Launchpool, users will be able to bet (Lending (their BNB, BUSD or ONT tokens on three liquidity pools to cultivate WING tokens, starting 09/15/2020 at 08 : 00 am (UTC).
Binance will list the WING token on September 16 at 2:00 a.m. (UTC) and will open the trade for the WING / BTC, WING / BNB, WING / BUSD and WING / USDT trading pairs. Binance users who have previously deposited their BNB and BUSD to grow BEL tokens will automatically participate in the WING grow at the same time.
“The WING list shows the shared vision between both parties to drive DeFi to its full potential as a truly financially inclusive revolution. As an innovative, credit-based, cross-chain DeFi platform built on top of Ontology, Wing is honored to be recognized by the world's leading cryptocurrency exchange. It will be easier for users to get WING on Binance and access decentralized financial services without the need for excess collateral ”, said Andy Ji, co-founder of Ontology.
The CEO and founder of Binance, Changpeng Zhao, explained:
“Continuing to facilitate the growth and adoption of DeFi, we are pleased to welcome Wing to the Binance Launchpool. Wing is innovatively introducing a credit assessment module as a strong example of credit-based DeFi, and we would be delighted to contribute to the development of this project. ”