Wing supports supplying and borrowing the same currency

Discussion
1

According to data, in February 2021, 95% of the total revenue of the Compound platform came from revolving loans (Click here).

What is revolving loan？ It is deposit-borrow-deposit-borrow-deposit-borrow…recurring cycle, it will amplify the APR by amplify the principal. Among revolving loans, single currency revolving loan is a relatively simple and lower risk gameplay.

The single currency revolving loan means that both supplying and borrowing are the same currency. Even if the currency price fluctuates greatly, the fluctuations in the value of collateral and borrowing assets are the same, so the Borrow limit remains unchanged, reducing the risk of being liquidated.

To realize the single currency cycle, the DeFi project where you need to support the supplying and borrowing of same currency, it means that the users can supply and borrow the same asset from the same address. Now AAVE, Venus and Channels, etc. all supports the supplying and borrowing of same currency. It can reduce the liquidation risk of users due to asset price fluctuations. In fact, it also optimizes the user experience. Users of revolving loans do not need to use two addresses for revolving loan.

Supporting supplying and borrowing the same currency will help increase Wing’s TVL and market cap. So I suggest that Wing supports supplying and borrowing the same currency.

2

We don’t need to Fake our TVL and marketcap, that not make a sence. We shouldn’t help platform user abuse the protocol instead of marketing about Wing.

3 Likes
3

It is difficult to rely solely on the market. Without a good market cap and TVL, the attracted users may also be lost.

4

Supplying and borrowing the same currency will increase the borrow APY. High marketcap but low liquidity for borrowing. We are in Crypto Bear Market so what we should do is marketing about why we should use Wing platform, which advantage? Upgrade our platform for more usecase like Margin Borrowing for profit to increase Daily Volume

5

Margin Borrowing for Leveraged Trading. Like https://fulcrum.trade

6

I think both aspects should be done. The growth of TVL and the spread of Wing promote each other.

7

totally disagree with this proposal