Ontology’s Cross-chain DeFi Lending Platform Wing Launches on the Binance Smart Chain
Wing, the first credit-based cross-chain DeFi protocol created on the Ontology network, has received massive attention from mainstream media since its launch in September due to groundbreaking development on the Ontology‘s ecosystem, including its data identity structure and credit information systems.
Binance Smart Chain (BSC) is a famous blockchain delivering at high speed and cost-effective transactions. BSC will now include Wing as their lending platform that will offer borrowing, lending, and securing opportunities to many new DeFi users. The assets that will benefit from this partnership include WING, ETH, ONT, CAKE, USDT, BTCB, ADA, DOT, BCH, BNB, FIL, LINK, XRP, DAI, DOGE, USDC, and BUSD. Wing has performed progressively since it began on the Ontology blockchain, followed by its launch on Ethereum, OEC and the latest on BSC. Outstanding growth in total value locked (TVL) has been noticed in Wing, with a peak of $300 million.
Wing’s profound expansion will provide more liquidity to its users. It features a reputation system wherein the system will reward users for keeping a positive reputation on the blockchain and offering them available lending rates. WING rewards will be spread between Ethereum, BSC, Ontology, and OKExChain Flash Pools.
Wing opens the door of possibilities into bridging the Ontology blockchain and its DeFi ecosystem. At the same time, Ontology’s decentralized identity structure and decentralized data project will enable users to manage their own identities and data confirmation while integrating it with smart contracts to foster automatic verification of credit data and credit evaluation.
As Wing continues to improve the underlying framework of Ontology, Ontology will then prioritize its flourishing community around the world. This collaboration is expected to have more premium projects that will strengthen its DeFi ecosystem and will enrich the project’s worth and importance in the DeFi space.
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