The Flash Pool should accept WING as an interest fee payment method

Proposal:
We should consider to accept WING token as a lending fee payment method.

Benefits:

  1. Once WING could be used to pay lending fee, the utility of WING will increase
  2. When borrowers lock a given amount of WING when they borrow assets, the increasing borrowing fee won’t increase the liquidation risk of collateralized assets any more. (For example: currently, if Alice supplies $100 pETH and borrows $50 pUSDT, and the borrowing period generates $5 borrowing fee, then $55 will be counted as borrowed amount, which will be compared to the borrowing limit for liquidation. There could be some extreme circumstances in which the borrowing APR of pToken dramatically increases, resulting in liquidation in a short period).
  3. Suppliers could receive real-time borrow-related return as they need even though the borrowers have not paid back the assets. (the same example as Alice) In this case, suppliers can achieve higher yields by re-supplying the interests they earn.
  4. It’s potentially similar to WIP-04. But in this case, a new smart contract can be designed to automatically burn WING commissions in daily or hourly basis.
8 Likes

This is a great solution for dust as well, as that’s been a consistent issue on the platform. 100% support this proposal.

2 Likes

This is a great idea that official won’t need to buyback and save some transaction fee.

Even more, we can expand the usage of WING to pay all interest, so users won’t need to transfer or exchange it from ETH chain with a high price.

But we always need an option for users to pay interest and fee in old way.

1 Like

this is great idea !

I very agree. In fact, it is very difficult to pay interest on borrowed assets that are difficult to buy. This will certainly be one reason to buy Wing Coins. Today’s Wing Coin has nothing to do other than voting for governance. I think this will ensure more safety for the price stability of DeFi tokens. I don’t think it makes sense to buy and burn tokens or vote for individual gain.
I think you should stick to the basics.

Right. Accepting WING as interest payment method will make many things easy.

I would also like to see a “dust cleanup” feature similar to binance in which all assets that have dust interest can be “wiped up” with WING payments.

1 Like

That’s a good point. But Binance does this because they have huge liquidities in any assets. And Binance is centralized

Great idea, I also agree firmly on this …

Great idea, let’s vote for it!

i like it, anything to increase the utility of wing is good.

We should get this up for voting ASAP, :fire:

I’m all for it. Let’s get this on voting as soon as possible…

The question is, do suppliers agree with it? Since the interests are paid to suppliers, do suppliers accept receive WING as interest instead of the assets they supplied?
We already have Unifi as an Ontology DEX which could easily swap assets from Wing platform.