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What Is Wing Finance?

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Aug 8, 2022
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4 min read
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This blog post will cover:

  • About Wing Finance (WING)
  • Where did Wing Finance (WING) come from?
  • What are the advantages of Wing Finance (WING)?
  • What are the disadvantages of Wing Finance (WING)?
  • How to buy Wing Finance (WING)?

About Wing Finance (WING)

Wing Finance is a DeFi project that was made to support different collaborations amid DeFi products. The concept’s decentralized governance system and the mechanism of risk management are aiming to stimulate profitable relationships among creditors, debtors and guarantors. Also, Wing delivers a unique credit estimation module rewarding people for evolving a fine credit on the blockchain.  

The WING is a governance token. It is designed to be used for voting in order to improve the proposals and decide what the future ways of the project will be. The additional use case is staking.   

Where did Wing Finance (WING) come from?

Wing Finance was launched in August 2020 by the members of the Ontology team, which is another quite popular crypto project. The main idea is to create a reputation based on credit which can help achieve financial freedom. 

What are the advantages of Wing Finance (WING)?

  • Tokenomics. The policy of Wing is called “buyback and burn”. The project is creating a monthly income, and the team members are spending half of it to purchase back WING tokens from the market to burn them later. This will not affect the TVL and profit model, but it will surely diminish the total circulating supply of WING in the market. It also helps make a more costly asset. 
  • Security. Wing operated for two years without any hack attacks (at least they were not revealed by the team). As for the DeFi projects, it appears to be an uncommon situation. 

What are the disadvantages of Wing Finance (WING)?

  • Young project. Wing Finance seems to be a green concept yet it was launched 2 years ago. However, not all the functions are doing their best as well as a small number of assets are maintained. 
  • High commissions. Some users claim the commissions for transactions with WING are too high. However, this point is quite subjective. 

How to buy Wing Finance (WING)?

Don’t own WING yet? In order to make a safe purchase, visit the SimpleSwap homepage. Follow our instructions on how to buy your own WING:

  • Choose the currency you want to exchange (e.g. BTC) in the first drop-down list. Enter the amount you would like to swap.
  • Select WING in the second drop-down list. You will see the estimated amount that you will receive after the exchange.
  • Click the Exchange button.
  • Enter the Recipient's Address. WING will be sent to this address. Be careful and make sure you use the correct address.
  • Create the exchange.
  • You will see the Bitcoin deposit address. You need to transfer the necessary amount of BTC to this address to start the exchange.

SimpleSwap reminds you that this article is provided for informational purposes only and does not provide investment advice. All purchases and cryptocurrency investments are your own responsibility.

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