pAsset/xWING Bond Solution

Discussion
1

Hey everyone

As Wing continues to work through the aftermath of the Poly Network exploit, I want to propose a structured and sustainable solution for affected users that does two things:

  1. Provides a fair path to recover value over time
  2. Aligns long-term incentives between users and the Wing platform

The Recovery Mechanism: Introducing

xWING

Affected users will be able to swap their stranded pAssets for a new non-transferable token called xWING.

  • Each pAsset will be exchanged at 20% of its pre-hack value
  • xWING will not be tradable, but it gives you a real claim on Wing’s future

I’d consider this as a bond, not a bailout.

Option 1: Share in Wing Revenue (xWING-only)

If you hold xWING, you’ll automatically be eligible to receive a pro-rata share of Wing protocol revenue (e.g. fees collected in USDC).

  • No need to do anything fancy
  • Just hold your xWING and you’ll get your share
  • This ensures that everyone affected has a recovery path, regardless of whether they want to engage deeper

Option 2: Boost Rewards by Locking WING (xWING + WING)

For those who want to go a step further — and who believe in Wing long-term — we’re proposing a new WING rewards pool.

To tap into this, you can lock your xWING with an equal amount of WING (1:1 ratio). Think of this a bit like how some users insure WING today in that you’re signaling trust, and earning more in return.

  • Rewards from this pool will be distributed based on the TVL of xWING locked
  • You can choose your lock duration — longer commitments may earn more

This setup gives power to the user: you choose how much to participate, and how much upside you want.

Why This Approach Works

  • It uses real platform revenue, not printing tokens to patch over problems
  • It encourages active alignment with the protocol
  • It gives WING more utility — and helps support its value through demand
  • It offers a clear, fair structure for users at all levels

What’s Next?

This is the framework I’d like to put forward for community feedback. If there’s broad agreement, I believe we can move toward a DAO proposal and vote which would allow:

  • Finalizing smart contract design
  • Launching the xWING swap window
  • Activating the revenue and reward pools
  • Adding dashboard visibility for all lockups and payouts

I believe this strikes the right balance between responsibility and opportunity, helping impacted users while reinforcing the integrity of Wing as a platform.

Open to ideas, feedback, questions.

Geoff

3

​Geoff’s proposal for the xWING recovery mechanism presents a thoughtful and forward-looking approach to addressing the aftermath of the Poly Network exploit. By offering affected users a structured path to recover value over time, the proposal aligns user interests with the long-term success of the Wing platform. Notably, utilizing actual protocol revenue for compensation, rather than issuing new tokens, demonstrates a commitment to sustainable development.​

The design of xWING provides flexibility, allowing users to choose their level of participation based on their confidence and engagement with the platform. Whether passively holding xWING to share in protocol revenue or actively locking WING to earn additional rewards, users can tailor their involvement to their preferences. This adaptability caters to diverse user needs and fosters a more engaged community.​

We encourage community members to actively participate in discussions, share valuable insights, and collaboratively refine this proposal. Through collective input, we believe we can develop a solution that best serves the interests of the community and supports the continued growth of the Wing platform.​

4

I assume the pAssets discussed here excludes pWBTC and pUNI as they were not affected by the exploit. Those tokens were 100% returned by the polynetwork. Right?

5

Wing team must do it asap.

6

I’m with the majority of this proposal. But also encourage to make xWING tradeable and it’s essential to have a DEX to trade freely, even the pAssets. Unless the pAssets is cheap enough, people will buy it to repay their debts. Clearing all the debts should be the first priority.

7

Why is there no Ontology working through the aftermath?
This is the Ontology network ecosystem “rug pool”, not Wing alone

1 Like
8

I agree, pAsset also Ontology ecosystem.

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9

Who made the decision to use Poly as a bridge? Who decided that “Poly team” could safely store our assets?

10

yes I tend for version 1 with no Wing + xWing, as I would need to buy a huge amount of Wing then. What does 20% of pre hack value mean, is that the total which a xWing can get over time. lets say you lost 10000 USDC in the hack, then you get xWing which in theory if things go to plan and wing platform makes a comeback, over time can get back 2000 in USD value? Please implement it fast.

1 Like