To further grow Wing, having a stable amount of good liquidity is helpful for ecosystem integrations with potential partners. In order to make this process more efficient, we have proposed to create a Liquidity Fund and added liquidity appropriately.
Last time we allocated 50k WING to Liquidity Fund through WIP-35 (Wing), Total 50k was used to provide liquidity. Following are the details of fund flow.
| Project Deposited | Chain | Pair | WING Amount |
|---|---|---|---|
| OpenOcean | Ontology | WING-ONTd | 10,000 |
| SushiSwap | Ethereum | pWING-pONT | 10,000 |
| SushiSwap | Ethereum | pWING-ETH | 10,000 |
| JSwap | OKC | WING-USDT | 5,000 |
| BabySwap | BNB Chain | WING-USDT | 5,000 |
| ApeSwap | BNB Chain | WING-BNB | 5,000 |
| ApeSwap | BNB Chain | WING-BNB | 5,000 |
It has performed well in providing convenience for users to swap WING in Ontology, Ethereum, OKC and BSC. Meanwhile, it expanded Wing’s ecosystem in these chains.
Now, in order to attract more new users and TVL, we are going to cooperate with cBridge. In our plan, WING can bridge to each other among Ontology EVM, Ethereum, BSC and OEC through cBridge. Therefore, we need to build a liquidity pool of WING on each chain. The pool in each chain needs about 10K WING for liquidity, and a total of 40K WING is needed.
There is no WING left in the Liquidity Fund now, So we propose to allocate another 50,000 WING from the unlocked community fund to the Liquidity Fund. The liquidity fund will only be used to provide liquidity to exchanges partnered with Wing Finance. If necessary, WING may be exchanged for other assets to provide liquidity.
The liquidity provided will be withdrawn at a later stage once there is enough community-provided liquidity. Given impermanent loss, the value of the funds once liquidity is withdrawn may be higher or lower than when it was initially provided. The funds will then be used to provide liquidity to a trading pair on another platform or returned back to the community fund address.
