From the RoadMap:
Through strategic partnerships with synthetic assets platforms, Wing will be able to, upon evaluation and risk assessment, expand into the lending/borrowing of:
** Synthetic derivatives of publicly-traded company stocks (TSLA, AAPL, MFST).*
** Synthetic derivatives of commodities (gold, silver, oil).*
** Synthetic derivatives of index funds (sDEFI, S&P 500).*
pc. Self-made, without partnerships with synthetic assets platforms. Classic Minter with a market-making robot.
It will be easy to do multi-cross-trading with the lowest possible spread.
Totally agree, with the risk assessment model, we can add as many assets as we want under a controllable risk.
MM + Minter pool for managing (+algo_senior_consensus) your own share/collateral for a profit. Built-in auto liquidation.
Managing: BuyPrice. SellPrice. Minter Stability Fee. Liquidation Ratio/Penalty…
Part of the profit would go to the WING burning!
And there should be trading. Leveraged, margined, like Fulcrum.trade
Good idea. It will attract users from other projects to participate in Wing‘s borrowing and supplying.
Go ahead!
Would you like to propose this for veresha? i would vote in favor just not sure if he has the capital free to propose this.
Before we have a proposal, we need to settle down the assets and parameters.
For stocks, we could choose from Synthetix and Mirror assets.
For commodities, I prefer PAXG.
For index funds, I don’t see any successful tokens so far.
It makse sense to add synthetic assets to Wing, which wil attract more users of their ecology to participate in Wing.
I’m worried about the safety of synthetic assets.
What, for example, makes you worry about DAI? How difficult is it to do the same for GOLD or s&p500.
Although, there are US regulations and Uniswap has already delisted many synthetic coins.
Obviously, the US regulators will only be satisfied with a real-dollar backed stablecoin to continue their worldwide emission, otherwise imagine ETH below $100 on the day when the US will ban crypto.
I don’t agree with you. Wing is a lending borrowing platform, which means all assets can be collateral for borrowing. Without a proper liquidity depth and price oracle, once the assets’ price is manipulated, the whole pool would suffer a huge loss. Even the assets are backed by strong tokens and could recover in a short time, damages could be taken by Wing and Wing users in that short time. A lot of recent attacks are flash loan attacks to change the price of tokens in a very short time.
I understand the safety issues. But just like any WING holder, I dream of expanding the functions to be something more than a lending-borrowing platform. Leverage trading, minting of some synthetic assets or a stablecoin - Chinese YUAN for example.
PAXG is good. Its market cap and trading volume are relatively high, so i suggest adding PAXG to Wing’s pool.
mTSLA needs to be considered, since the Mirror community is thinking of moving their liquidity to Sushiswap. There is a price risk during the transfer if they come to an aggreement.
I’m agree with you, we should be cautious.
Binance has stopped their stock tokens serveral days ago for some reason, the mAssets such as mTSLA are also removed from active token list by uniswap. We should know Mirror team’s plan on mTSLA at first.
Go ahead, more assets can attract more users from different ecosystem!