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.
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 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?
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;
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.
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?