🚨 Proposal to Shut Down the OKC Flash Pool 🚨 In response | Wing Finance on Binance Square

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🚨 Proposal to Shut Down the OKC Flash Pool 🚨
In response to unresolved risks from the 2023 Poly Network exploit, Wing is taking decisive steps to protect users.
🛠️ Step-by-step plan
🔒 Risk mitigation
🔁 Redemption proposal coming soon
Read & discuss: https://gov.wing.finance/t/okc-flash-pool-closure-plan/1248

Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.

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🚨 WING OKT Redemption Update 🚨 Following a recent security incident, WING redemptions on the OKT chain will bypass the regular bridge. A manual review process is now in place to protect holders. Here’s what you need to know 🧵👇 ✅ Snapshot Completed The snapshot of WING (OKT) holdings was taken at 8:10 AM (UTC+8), May 23, 2025. 📌 Only users who send from snapshotted wallet addresses will be eligible for WING refunds. 📲 Redemption Instructions 1.Import your wallet into ONTO Wallet (if not already). 2.Send your WING (OKT) to: 0xd71E1aC77d51eeA7e6d66eeDE350B3CF6080eCA8 🔒 This step is mandatory for redemption eligibility. 🔍 Manual Review & Refund Timeline Each request will go through manual verification. ⏳ If approved, WING (ORC-20) will be distributed within 30 days to the original wallet address. 🪙 View Tokens in ONTO Add the WING (ORC-20) contract manually to your ONTO Wallet: 0x6ea9f7b81bdeb047d63a023b1f28bea481a5785a 🔁 Convert to OEP-4 After receiving WING (ORC-20), convert it to WING (OEP-4) using the official Ontology Bridge: 👉 https://t.co/LC6jyEt84w 🙏 Thanks for your continued support. We’re putting security first and appreciate your patience.

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The TAC Bond Pool Testnet dApp is now live! We invite everyone to try out functionality and provide your feedback. This marks an important step forward in the creation of Wing 2.0. You can explore the features here: https://test.wing.finance/bondpool/issue

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The liquidation function on the OKC Flash Pool will resume around 09:00 UTC tomorrow. This follows a temporary suspension due to an emergency. Thank you for your patience and understanding.

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The latest vote is now live for Wing DAO. Another step along the road of progress. Make your vote count. https://wing.finance/votedetails/75

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📢 Important Update: Resetting WING Incentives to Restructure and Move Forward Given the current situation, we need to launch an emergency governance: we’re stopping all existing WING incentives and restarting them from zero. This isn’t a move made lightly. It’s a necessary reset to pave the way for a healthier protocol and stronger tokenomics. Here’s why: ❌ Why We’re Stopping Incentives Misaligned Rewards. We can’t keep rewarding users who only mine, withdraw and sell the WING tokens. That’s not what the protocol was built for. Limited Real Participation. Flash Pool activity is minimal. The data doesn’t lie. It’s time to reallocate resources where they matter. ✅ Why This Matters Better Token Supply Control. No more WING emissions means no more inflation. The token’s long-term value should be protected. We Take WING Seriously. There’s no team that has allocated token according to the original token distribution, all escrowed fund wallet addresses are publicly verifiable and used according to community voting. This move reinforces that we’re playing the long game. Revamped Tokenomics Are Coming. This is the first step in a broader overhaul. We’re building tokenomics that actually align with future growth, not just short-term participation. 🔜 What’s Next Proposal For pAssets Incoming. A new proposal will be introduced for all pAsset holders, offering a path forward in the form of bonds. OKTC WING Takes Priority. Bridging The OKTC WING token to the Ontology Network will be the first to proceed under this new strategy. New Product Direction. We are working for the Wing 2.0 and exploring more directions. All newly generated WING tokens will be escrowed in a public address and used later for incentives for new products under a stronger tokenomics model. This isn’t the end. It’s the beginning of something more sustainable, more transparent, and ultimately, more valuable for the community. Let’s fix what’s broken. Then let’s build.

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