As stated in 2021 roadmap, Wing is going to launch an Ethereum version of Wing. The rules of Wing Flash Pool on Ethereum will be similar to that on Ontology but differ in some details. We’d like to post a discussion here first, so that our final version of the plan can be more complete.
Basic Flash Pool Rules can be found here.
Different Rules of Flash Pool on Ethereum
Initial Assets: wBTC, ETH, pONT, pWING, USDT, oneWING, mTSLA.
oneWING is a a WING-backed stablecoin. Find details.
mTSLA is the token of Mirrored Tesla, which is a tokenized stock. Find details.
All these assets will be eligible for Supply Pool and Borrow Pool, but only pWING/oneWING/pONT will be eligible for Insurance Pool.
Asset Collateral Factors:
wBTC (75%), ETH (75%), pONT (60%), pWING (40%), USDT (80%), oneWING (85%), mTSLA (60%)
wBTC (8%), ETH (8%), pONT (8%), pWING (8%), USDT (5%), oneWING (5%), mTSLA (8%)
Lock pWING when Borrowing:
When borrowing assets, it will be by default and not optional that borrowers have to lock pWING worth equivalent to 3% borrowed assets.
WING Incentives Distribution:
WING Incentives will be distributed to both Wing on Ontology and Wing on Ethereum. They will share the same WING from daily distribution, but distribution ratios, computing cycles and other details are open to discussion.
For the version of Wing on Ethereum, WING will be swapped to pWING and then distributed. Distribution ratios of pWING to Supply Pool, Borrow Pool, Insurance Pool will be 45%, 45% and 10% respectively. The distribution model of pWING within Flash Pool on Ethereum will be the same as that of WING within Flash Pool on Ontology.
Proposals & Votings:
Only WING will be eligible for initiating proposals or votings. pWING need to be swapped back to WING to participate Wing Governance.
Others rules not mentioned above will by default be the same as rules of Flash Pool on Ontology.
If you have any ideas, feel free to leave a comment.