2021 is gearing up to be an exciting and promising year for Wing Finance. Our product, token and community have all grown tremendously over the past four months, and we expect the same moving forward. Below is Wing’s 2021 roadmap, which encompasses most of our developments currently in progress as well as new opportunities that could potentially be explored depending on the direction that the Wing DAO votes on and the partners we bring on.
New cross-chain launches
To achieve Wing’s vision of a cross-chain lending ecosystem, additional versions of Wing will be launched on different blockchains to onboard new users, new assets and new liquidity.
- An Ethereum version of Wing (“Ethereum Wing”) will be launched in Q1.
- We are in talks with Huobi to launch a version of Wing on the Huobi ECO chain (“Heco Wing”).
- Other chains being considered for future launches include Polkadot and Binance Smart Chain.
New multi-chain token listings
- Through the voting done by the community, the launch of Ethereum Wing will allow for the listing of any ERC-20 token for lending and borrowing.
- Additionally, voting can be done to list more tokens on Ontology Wing and Ethereum Wing from the different blockchains supported by the Poly Network, including tokens from Ethereum, Neo, Ontology and Binance Smart Chain.
- Other cross-chain protocols such as Ren could be utilized to list tokens from even more blockchains, including Zcash (renZEC) and Bitcoin Cash (renBCH) on Ethereum Wing.
Expansion into synthetic assets
Through strategic partnerships with synthetic assets platforms, Wing will be able to, upon evaluation and risk assessment, expand into the lending/borrowing of:
- Synthetic derivatives of publicly-traded company stocks (TSLA, AAPL, MFST).
- Synthetic derivatives of commodities (gold, silver, oil).
- Synthetic derivatives of index funds (sDEFI, S&P 500).
The first synthetic asset of a publicly-traded stock is expected to be listed on Ethereum Wing by Q2.
Wing is also evaluating the feasibility and risks of Liquidity Pool token lending markets — i.e., collateralize and borrow against your liquidity pool tokens received from providing liquidity on decentralized exchanges, such as Uniswap, SushiSwap, Unifi, etc.
Exploration into traditional assets markets
Depending on which partners we are able to secure in 2021, Wing will also be able to launch lending/borrowing markets for asset-backed tokens, including:
- Fractionalized real estate shares.
- Tokens backed by real-world reserves such as gold.
- NFTs, fractionalized NFT shards and wrapped NFT tokens.
The majority of activity on all major DeFi lending platforms comes from stablecoins. By creating Wing-backed stable coins, we will create a synergistic relationship between stablecoin farmers and Wing holders.
- oneWing, a Wing-backed stablecoin on Ethereum, is being developed by Ichi and will be launched in Q1.
- WUSD, a Wing-backed stablecoin on Ontology, is being developed by Wing and will most likely be launched in Q2.
Liquidity mining encourages locking up more Wing while reducing the circulating supply, and it makes it easier to trade in and out of Wing with low slippage.
- Liquidity mining for pWing-ETH on SushiSwap is currently ongoing through SushiSwap’s Onsen program and Wing’s own liquidity mining program.
- The Wing DAO could vote for liquidity mining programs on other DEXs that choose to list Wing liquidity pairs, including Uniswap, Unifi, Dodo, Thorchain and more.
Additionally, Wing will push further for listings on more centralized exchanges and host joint trading competitions with exchange partners.
- Wing is developing a new “Flash Liquidation” feature where users can participate in liquidation directly with their locked assets. Users will be able to avoid paying high gWei fees during busy periods and keep their assets in the Supply or Insurance Pools while taking out a flash loan to participate in a liquidation based on need.
- We will continue to innovate on credit-based lending through optimizing our Inclusive Pool. Expect a significant upgrade in UX/UI, as well as better lending rates and more benefits for those holding a high OScore.
- Another key feature to be added is undercollateralized lending, specifically applied to leverage trading — i.e., enabling supplied assets on Wing to be borrowed by users from other protocols for increasing leverage trading and mining.
- This will involve protocol-to-protocol integration of lending services and will be similar to CEX leverage trading features.
- However, this feature will be decentralized and open-sourced, and fees will be distributed to Wing users.
Faster and more involved governance
- We will seek to fast-track integrations and decision-making by introducing proposals that pre-approve community funds for specified types of engagements.
- We will also encourage more participation from community members in proposal discussion and voting through incentive programs.
- We will hold votes to utilize the unlocked community funds unlocked this year to grow Wing and the Wing ecosystem.
That’s it for now. Did we miss anything? Or is there something we should add to our 2021 roadmap? Feel free to join the Wing Dao Community and throw in your ideas.