Wing Finance (WING) price has increased today.
The price of Wing Finance (WING) is $5.70 today with a 24-hour trading volume of $3,168,917.08. This represents a 4.50% price increase in the last 24 hours and a 3.60% price increase in the past 7 days. With a circulating supply of 3.7 Million WING, Wing Finance is valued at a market cap of $20,912,352.
What is Wing Finance?
Wing Finance is a decentralized finance (DeFi) platform built by the team behind Ontology that supports cross-chain interactions between various protocols. The Wing team created an innovative credit valuation method designed to support its credit-based lending and to increase transparency. The project aims to create a fair and synergistic relationship between borrowers, creditors, and guarantors through decentralized governance and its own risk control mechanism – which opens doors to a larger range of DeFi projects accessible and implemented on the platform. Wing is a decentralized autonomous organization (DAO) that allows users to participate in decision-making, product design, and operations.
How does Wing work?
Though lending in DeFi is rampant, it is not as accessible to many as it was meant to be. Despite the openness and permissionless nature of platforms, over-collateralization requirements have restricted the ability to make loans to borrowers because borrowers needed to own a ton of digital assets in the first place. Essentially, Wing was created to solve the issue of over-collateralization that pervades the DeFi industry – to engender an inclusive ecosystem.
The project’s goal is to make lending services in DeFi more accessible. The Wing team’s credit evaluation system known as OScore removes the need for large collateralization.
OScore’s credit scoring mechanism examines the user’s balance and lending/borrowing history. It is able to support Bitcoin, Ethereum, and Ontology blockchain and automatically generates a quantifiable credit score for a user. So, since borrowers have to rely on their OScore data for loans, the collateral needed is lowered. Thus, Wing improves trust, transparency, and security within its own platform, and also taking the DeFi industry a step up.
As such, it is a credit-based DeFi platform that is able to support cross-chain interaction across the asset lending market. There are several functions in Wing:
- Flash pool: A collateral pool that supports asset lending, coupled with an Insurance Pool that aims to cover assets risk. Powered by Ontology, it can support various native cryptocurrencies rather than relying on the wrapped version.
- Borrowing: Any user can borrow from the flash pool, provided they meet the collateral and OScore requirement for their loan.
- Lending: Any user can supply their cryptocurrencies in the Flash pool which will then be used to lend to borrowers. Lenders receive interest in both the crypto supplied and WING.
- Community: Wing DAO allows community members to submit proposals for DeFi services on the platform, or become an investor on the platform, without the need to obtain prior interaction with the blockchain. The community also makes decisions independently on product launches.
Activities such as depositing, withdrawing, borrowing, repaying, insuring, surrendering, and other contracts on the Wing platform will cost 1-5 Ontology Gas (ONG) in handling fees, which ultimately depends on the complexity of the contract performed.
What is WING?
WING is the native token for Wing Finance. It serves three purposes:
- Governance: Holders of WING token can participate in the governance of the Wing DAO community. Participants can vote for the launch of new products, product application rules, allocation of funds within Wing DAO community fund and any other new governance proposals for the community.
- Incentives: WING can be earned by carrying out supplying, borrowing and insurance actions in Flash Pool and Inclusive Pool. These rewards are allocated based on the user's contribution to the DeFi projects on the platform.
- Release: 80% of the total supply of WING will be released regularly as a form of liquidity incentive and deposited-based incentive. The remaining 20% will be kept in escrow for the Wing DAO community fund with the purpose to ensure long-term community governance, risk control and emergency response actions.
How do I get WING?
You can browse through the various centralized and decentralized exchanges by heading over to our exchanges page.
Where can you buy Wing Finance?
WING tokens can be traded on centralized crypto exchanges. The most popular exchange to buy and trade Wing Finance is MEXC, where the most active trading pair WING/USDT has a trading volume of $113,775.21 in the last 24 hours. Other popular options include Bitget and Binance.
What is the daily trading volume of Wing Finance (WING)?
The trading volume of Wing Finance (WING) is $3,168,917.08 in the last 24 hours, representing a 114.90% increase from one day ago and signalling a recent rise in market activity.
What is the all-time high for Wing Finance (WING)?
The highest price paid for Wing Finance (WING) is $249.54, which was recorded on Sep 16, 2020 (about 3 years). Comparatively, the current price is -97.70% lower than the all-time high price.
What is the all-time low for Wing Finance (WING)?
The lowest price paid for Wing Finance (WING) is $2.07, which was recorded on May 12, 2022 (over 1 year). Comparatively, the current price is 175.50% higher than the all-time low price.
What is the market cap of Wing Finance (WING)?
Market capitalization of Wing Finance (WING) is $20,912,352 and is ranked #624 on CoinGecko today. Market cap is measured by multiplying token price with the circulating supply of WING tokens (3.7 Million tokens are tradable on the market today).
What is the fully diluted valuation of Wing Finance (WING)?
The fully diluted valuation (FDV) of Wing Finance (WING) is $28,448,504. This is a statistical representation of the maximum market cap, assuming the maximum number of 5 Million WING tokens are in circulation today. Depending on how the emission schedule of WING tokens are designed, it might take multiple years before FDV is realized.
How does the price performance of Wing Finance compare against its peers?
With a price increase of 3.60% in the last 7 days, Wing Finance (WING) is outperforming the global cryptocurrency market which is up 1.40%, while outperforming when compared to similar Decentralized Finance (DeFi) cryptocurrencies which are up 2.90%.
What is the market sentiment of Wing Finance today?
The community is bullish as more than 100% of users are feeling good about Wing Finance (WING) today.