Flash Pool (OKC)
Flash Pools are collateral based fund pools on the Wing DAO platform with different versions based on several popular blockchain networks. They bring down collateral rates by introducing an insurance pool mechanism. You can read more about Flash Pool mechanisms here.
Ontology and Ethereum based assets need to be converted into KIP-20 tokens before interacting with Flash Pool (OKC). OKC based assets are directly supported by the pool. Please find detailed trading guides here.
fTokens represent ownership of assets supplied to Wing Flash Pool which allow users to regain liquidity of the locked-up funds while earning interest at the same time.
Currently fTokens support 12 assets on OKC: WING, OKT, OKB, USDT, USDC, DAIK, BTCK, ETHK, LINKK, DOTK, UNIK and SUSHIK. Each asset has a corresponding fToken. Transaction details of each fToken are accessible via OKT Explorer with token addresses listed below:
Mint: Equivalent amount of fTokens are issued directly to your wallets when your funds are successfully supplied to Wing lending pools. You can view fToken balance on OKT Explorer by looking up your OKT addresses.
Redeem: You are able to redeem all or partial of their fTokens at any time by withdrawing funds you supplied to Flash Pool (OKC).
Transfer: Similar to the process of transfering other OKC based assets, you can transfer fTokens using a crypto wallet supporting OKC, for example Onto wallet. Transferring fTokens equals to changing the ownership of the underlying asset.
Earn interest: Assets supplied to Wing lending pools generate interest based on an Annual Percentage Rate (APR). The interest is reflected on fTokens exchange rate. I.e., fTokes balance remains unchanged, but fTokens appreciate over time. The longer you hold fTokens, the higher amount of underlying assets you can redeem from fTokens.