This article was first published on OntologyNetwork - Medium
Wing, the first credit-based cross-chain DeFi platform built on the Ontology blockchain, has garnered a lot of attention since its launch in early September, laying the groundwork for the development of Ontology’s DeFi ecosystem and for the integration of Ontology’s decentralized identity framework, data, and credit evaluation systems.
Meanwhile, our team is delighted to have received feedback from the global Ontology community, including suggestions and recommendations for Wing’s future growth.
Now, as we celebrate one month since the launch of Wing, we can analyze the project’s performance so far and see what we can learn going forward. We hope this letter will also help keep community members updated on the milestones Wing has met to date, as well as what’s to come over the next few months.
Off To A Promising Start: High TVL and APY
Supported by Ontology’s blockchain infrastructure, Wing got off to a great start, offering lower transaction fees, faster transfer speed, and reduced costs overall. Wing’s TVL (total value locked) rose above 200 million USD on more than one occasion. At present, Wing’s TVL is around 150 million USD a very promising figure.
In addition to retaining a high TVL and providing higher returns to users in terms of APY (annual percentage yield), Wing also provides users with returns on borrowing and lending mainstream coins including ETH, USDT, DAI, and USDC, at some of the highest rates available on the DeFi market.
Currency — Wing Interest Rate
USDT — 11.97%
DAI — 11.96%
USDC — 11.97%
ETH — 11.97%
WBTC — 29.93%
TVL（Total Value Locked）/ — 134 Million USD
*Data Source: Borrow APYs of the above tokens are recorded from respective websites, as of 2:00 a.m. September 28, 2020 (UTC)
Further, Wing is among the very few DeFi lending projects that has completed cross-chain integration with Ethereum assets, which has the potential to provide high ...
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OntologyNetwork - Medium