ICHI shared details of oneWING V2

ICHI shared last Tuesday, December 7, through its Twitter account, the details about the launch of oneWING in V2. According to the company, Wing Finance DAO is now equipped with its own Decentralized Monetary Authority, so users can now mint and deposit in the ICHI app.

Image about ICHI’s post on Twitter

“OneWING (Legacy) was the first ICHI-backed stablecoin launched on ICHI V1 in February 2021. As of 11/13/2021, oneWING (Legacy) accounts for over 74% of stablecoin loans and loans in Ethereum Flash Pool at wing.finance. This is almost 5 times more than the other four stablecoins (USDT, USDC, DAI and UST) combined”, he said through an article published on the Medium platform.

The company indicated that the V2 release provides:

• A new user interface on ichi.org

• 80 +% less gas expenses when minting and redeeming

• One-step deposit for ICHI rewards (no LP provision required)

• A pluggable infrastructure that enables you to get performance through DeFi

• Uniswap V3 liquidity provided by the protocol for oneWING (new) and pWING

• Higher levels of ICHI rewards

• Audits by Quantstamp and Solidified

In addition, he highlighted that oneWING (new) in ICHI V2 to achieve the following goals by 1/30/2022:

• $ 500k pWING captured during minting of oneWING (new)

• 10M supplied and loaned oneWING (new)

• 2MoneWING (new) deposited on ichi.org and earning rewards from ICHI

• $500k protocol provided oneWING (new) -USDC liquidity on Uniswap V3

• $500k protocol provided pWING-USDC liquidity on Uniswap V3

About Wing Finance

Wing is a decentralized, cross-chain, credit-based l termination platform. As a DeFi platform dedicated to the digital asset lending market, Wing supports cross-chain interactions between a variety of DeFi products. Combined with Wing DAO (Decentralized Autonomous Organization), the platform’s decentralized governance model and risk control mechanism aim to foster mutually beneficial relationships between borrowers, creditors, and guarantors. Additionally, Wing offers an innovative credit assessment module that rewards users for developing good credit on the blockchain.

Also read: IoTeX announced partnership with Covalent

oneWING (new) governance

The company explained that Wing DAO can take any oneWING (New) governance action directly when approving a proposal, but a 4 out of 6 multi-signature scheme will be used for day-to-day operations. Two of the signers will be nominated from the ICHI DAO community, and four will be nominated from the Wing DAO community. Here are the initial nominations:

• Kendall (wing DAO): 0xbb10c53c82fd7e9A3232A2096447D0b4cbdcd071

• David (wing DAO): 0x63Aaf17A3DD63A0de5B7aD36f82Ea4054024d79c

• Cedric (wing DAO): 0x3A512A00DEc156D1fd86D4FaCCf35861c03328a7

• Yuki (wing DAO): 0x0110Af7736e7EA99Ff2EfC84960Acf245B2E5D45

• 37 Aces (ICHI DAO): 0x0dd4C0c16Fff6693e169Ef89235Cb92F9D8943EE

• Dhtal (ICHI DAO): 0xaD187f2D2e7957411475f7a66F1Fff273b38cAd5

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