Non-Ether Wing Project Possessed Two Unique Feature to Help Advance DeFi Ecosystem

By Warren Hayes | September 30, 2020

Wing – an Ontology blockchain-based lending protocol – is reportedly managing a total of $180 million equivalent in staked crypto assets – an adequate sum even by Ethereum (ETH) standards. 

Specifically, the project is shifting its concentration on cross-chain interoperability and on-chain credit scoring, to help develop the DeFi lending ecosystem.

Eric Pinos, Ontology’s ecosystem lead for the Americas and an advisor to Wing, reportedly shared that there are two main factors that help this DeFi project stand out from the rest – cross-chain interoperability with Ethereum, along with the credit-based nature of lending activities, enabling the under-collateralized status for loans. 

The system’s OScore will reportedly run analysis on every user’s on-chain behavior to come up with a credit score, and consequently finalize the required amount of collateral to post for a given loan. 

“So instead of everything being over-collateralized right now, you have to put up $10,000 if you want to borrow $8,000 with undercollateralized loans, you can show a credit score that’s built off of your on-chain transaction history and your DeFi interaction history.”

Pinos reportedly disclosed that this update is yet to be widely available, but integration will be completed into the next pool. 

Pinos reportedly look forward to the unique features of Wing will get more users and assets onboard with the system.

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