Credit score-based cross-chain DeFi lending platform Wing is now reside on the OKExChain (OEC). Wing was developed by Ontology and is a public blockchain specializing in decentralized information and id.
OKEx, a Chinese language change, launched in December 2020. It encompasses a decentralized governance system that offers shoppers the flexibility to impression the ecosystem’s future course. OKEx additionally permits shoppers to create and checklist personally designed cryptocurrencies on OKExDEX, a decentralized change. OKExDEX additionally options derivatives buying and selling for customers to make the most of.
The integration of Wing into the open-source buying and selling chain will support the decentralized finance (DeFi) platform in assembly the big demand for high-frequency transactions on its platform. With the collaboration, DeFi customers are actually in a position to make use of Wing’s borrowing, insuring, and lending companies.
Since Wing’s launch on Ontology in September of final 12 months, the platform has skilled a robust development interval which noticed its whole worth locked (TVL) eclipse $300 billion. The platform was initially designed to advertise mutually helpful relationships between crypto debtors, collectors, and guarantors by way of a decentralized governance mannequin.
Swaps and wallets
OEC locations emphasis on community-based ops, transparency for buying and selling guidelines, and the autonomy of customers. In alignment with this purpose, Wing debuted on ORC together with different initiatives comparable to SushiSwap (SUSHI) and Chainlink (LINK). These will ostensibly permit for good contract improvement sooner or later. The team-up additionally permits for the mixing of swaps and wallets.
To assist promote Wing’s OEC launch, Ontology’s decentralized cross-chain pockets ONTO will provide incentives for brand spanking new customers to the platform. Initially, property which might be supported for lending and borrowing are BTCK, ETHK, OKT, USDC, USDT, and WING. Of that group, solely WING customers are eligible for the insurance coverage pool. Moreover, ONTO will help all certified OEC dApps by way of a particular zone on its platform.
In April, additional asset courses have been added to Wing’s credit score platform. This was achieved by way of the launch of “Any Pool.” The decentralized lending pool permits for the contractualization and lending of any asset. The function affords customers real-world property like actual property to be put down as lending collateral. To perform this, Wing partnered up with UPRETS, a fintech firm that digitizes actual property property for commerce on blockchains.