WIP-57 Allocate 50K WING to Liquidity fund (For)

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
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The liquidity provided will be withdrawn at a later stage once there is enough community-provided liquidity. Given impermanent loss, the value of the funds once liquidity is withdrawn may be higher or lower than when it was initially provided.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.

Glad to hear that we are going to cooperate with cBridge. I support it.

I agree. If we need to provide more liquidity, it makes sense to add more funds.

Liquidity brings lots of convenience for users, it is necessary for promoting Wing’s ecology.

Yeah, the Categorized funds makes funds flow more clearly. Now that the liquidity fund has run out, I agree with this suggestion.

Not bad, we can use it to provide more liquidity and cooperate with more projects.

Should we provide more liquidity to DEXes then there will be sufficient depth for users to swap?

There may be losses in providing liquidity, but it is unavoidable, and the start of cooperation requires the support of liquidity. so I support.

I don’t think so, since there may be losses in providing liquidity. We need to allocate liquidity reasonably.

Nothing can be done without liquidity. Quite agree!

Rooting for it. :heart:

Agreed! any plan for onto EVM? and What is OpenOcean? I didn’t hear about that before in Wing Channel

WING-ONG pair is already listed on Unifi protocal and Ontology has supplied liquidity for all relevant pairs.

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