By reintroducing WING as collateral, the utility of WING is increased.
Additionally, reinstating WING APY for WING lending, borrowing, and insuring would incentivize these actions.
WING should be treated the same as any of the other assets in the Wing lending platform.
This was the case during the promotion, and after the promotion ended, most lenders withdrew and spot sold their WING.
WING APY on top of regular APY for WING lending/borrowing/insuring increases demand to lock up WING in lending and insurance pools. Sure, this also would incentivize shorters, but a short sell is a guaranteed future buy. Whereas spot selling is potentially permanent.
It’s likely that if WING APY was reintroduced for WING, it would become the most popular asset on Wing by far. I think that is okay, as it makes sense that the WING token is the most popular asset on it’s own platform.
Awesome and Vesting is great idea
Yes please! I was really sad when Wing APY was removed on Wing
Many people expected something else when you said Wing was its own project.
So far it just benefitted the ONT holders and feels like a farm and dump coin for them.
I didn’t see this before I posted this Using WING to 'sweeten' Liquidation bonus
I think reintroducing wing as collateral is a great idea. What do you think about also being able to use it as a liquidation bonus multiplier as I described in my post?
will definitely find the right wing tokens after enough publicity
I would support using wing as collateral, but I’m not so sure about borrowing (shorting). Insuring I’m neutral about but would come with borrowing.
I def don’t think extra WING rewards should be reinstated, though. That was the original problem, and it did definitely incentivize shorters.
I strongly agree with this. Let’s use WINGs again.
The only thing is Flash Pool should restrict the borrowing limit of WING in the beginning.
Real governance token or more usages for WING? We can start a vote for that. Personally I feel more usages is more important.
Since WING price becomes more stable, we could set these parameters for WING:
set collateral factor as 40%;
set WING APY weight as 1;
turn on Insurance feature;
set Insurance lock time to 72hrs;
Can’t agree more, WING can definitely play a bigger role on Wing
still no governance right when supplying WING
Agree, WING should re-make itself an asset that can be mortgaged and borrowed, but should avoid some malicious short-selling
WING adds mortgage lending in addition to its governance function, which is one of the best options
We should start this at the earliest and as we already have pWing on ethereum, we should start finding opportunities by collaborating with Projects on Ethereum, where users can use pWing as collateral to farm on ETH projects, this will give holders an opportunity to earn and will be a solid use case of Wing. For Eg: Dodo has a current APY of 220% for there Token holders.
DODO APY is paid in DODO, so really DODO has an inflation rate of 220%, not an APY of 220%.
I accidentally voted when my wings were in supply and it counted as 0 votes. Then moved my wings out of supply then it did not allow me to vote again. Do you know how to fix this?
A possible solution will be transfer WINGs to another address and vote
The voting result is Yes, check voting detail at https://wing.finance/vote?anchor=wip06