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ONX

OnX Finance  

#ONX

ONX Price:
$0.08
Volume:
$352.7 K
All Time High:
$7.41
Market Cap:
$828.8 K


Circulating Supply:
9,883,243
Exchanges:
3
Total Supply:
9,908,242
Markets:
4
Max Supply:
Pairs:
2



  ONX PRICE


The price of #ONX today is $0.08 USD.

The lowest ONX price for this period was $0, the highest was $0.084, and the exact current price of one ONX crypto coin is $0.08386.

The all-time high ONX coin price was $7.41.

Use our custom price calculator to see the hypothetical price of ONX with market cap of SOL or other crypto coins.


  ONX OVERVIEW


The code for OnX Finance crypto currency is #ONX.

OnX Finance is 1.8 years old.


  ONX MARKET CAP


The current market capitalization for OnX Finance is $828,788.

OnX Finance is ranking upwards to #887 out of all coins, by market cap (and other factors).


  ONX VOLUME


There is a medium volume of trading today on #ONX.

Today's 24-hour trading volume across all exchanges for OnX Finance is $352,728.


  ONX SUPPLY


The circulating supply of ONX is 9,883,243 coins, which is 100% of the total coin supply.

Note the limited supply of OnX Finance coins which adds to rarity of this cryptocurrency and increases perceived market value.


  ONX BLOCKCHAIN


ONX is a token on the Ethereum blockchain, and has digital contracts with 3 other blockchains.

See list of the ONX Blockchain contracts with 4 different blockchains.


  ONX EXCHANGES


ONX has limited pairings with other cryptocurrencies, but has at least 2 pairings and is listed on at least 3 crypto exchanges.

View #ONX trading pairs and crypto exchanges that currently support #ONX purchase.


  ONX RELATED


Note that there are multiple coins that share the code #ONX, and you can view them on our ONX disambiguation page.


  ONX RESOURCES


Websiteonx.finance
Whitepaperonx.finance/litepaper_en.pdf
TwitterOnXFinance
TelegramOnXFi
Discord2Nhf4p872a
Mediumonxfinance


  ONX DEVELOPER NEWS



OnX Alpha Vaults

OnX alpha vaults is the third and final core pillar of the OnX Finance product offering complementing OnX Lending and onSynthetics. As OnX Finance’s objective is to become a platform agnostic hub for Internet bonds and interest earning tokens, OnX alpha vaults are an essential piece to enable users to unlock the potential of composability of passive income in DeFi. What are Internet Bonds? A Bankless article from November 5th 2020 defines Internet Bonds as digital work agreements involving: 1) lending capital for the right to provide work and earn rewards (perpetual bond characteristic) 2) co-owning the Proof-of-Stake protocol (equity characteristic) 3) providing public infrastructure (node validators) by consenting to a set of rules in exchange of payment of rewards. The Internet Bond market potential The Proof-of-Stake staked value market accessible to Ankr was approximately $102bn mid-March, which was at the time 4 times larger that the Total Value Locked (TVL) in Decentralized Exchanges and almost 8 times larger than the TVL on lending platforms. OnX Finance started onboarding ETH2 bonds from Ankr (aETH) and will onboard additional ETH2 bonds from other platforms as an agnostic platform, but the current market size of ETH2 bond is still at the moment limited when compared to other proof-of-stake platform where most of the value is staked and not interoperable with DeFi without Internet Bonds. How to unlock the full value of Internet Bonds? Liquid staking through synthetic staked tokens is not only a way to provide liquidity to ETH staking, but also an essential element for staked tokens to earn additional passive income within the DeFi ecosystem through liquidity farming, bonus rewards and lending. Unlocking the composability of passive income potential from Proof-of-Stake staking rewards needs to be wrapped into an Internet Bond (synthetic staked token) to further interact within the DeFi ecosystem. Prime Brokerage is often referred as a package of services offered by banks to Hedge Fund managers. For example, those banking services enable Hedge Fund managers to use any bank as custodian for its assets, trade with any broker, and borrow funds with several banks at the same time in an open architecture. Retail investors often do not have access to the same variety of financial providers. Staking tokens with CeFi (e.g., Kraken, Coinbase) represent similar limitations than most retail investors face in traditional finance. Internet Bonds makes staked assets liquid and interoperable within DeFi, which allows investors to enhance their passive income potential. Proof-of-Work mining vs. Passive income in DeFi using Proof-of-Stake staking Most institutional investors currently consider Bitcoin mining as a safer strategy to generate passive income, which is perceived as a safer strategy during bear markets. However, Bitcoin mining becomes increasingly competitive, which requires miners to operate in countries with lower cost of electricity, which often have increased geopolitical risks (e.g., Kazakhstan, Russia, Georgia, etc.). On one hand, mining equipment required to mine Bitcoin is a depreciating asset, not very liquid and difficult to leverage. On the other hand, passive income in DeFi requires to stake assets that tend to appreciate over time, easy to leverage, accessible to a wider range of investors and provider higher returns than Bitcoin mining. OnX alpha offering The first series of OnX alpha will be ETH2 vaults using Liquidity Pool tokens to maximize the potential of composability of passive income, while offering low impermanent loss risk. The first vault will be a SushiSwap Liquidity Pool token with the aim to reinvest the Sushi farming rewards as well as xSushi farming rewards on OnX. The aim of OnX alpha ETH2 vaults is to provide compounded APY on ETH2 bond automated passive income strategies. The benefit for vault capital providers would be to split the gas fees cost related to reinvesting the periodical rewards across all vault capital providers, as well as automate the passive income strategy for greater conveniency. Our vision is that OnX alpha vaults should be perceived as ETH2 automated asset management investment modules that can be used to diversify across a wider range of ETH2 bond passive income strategies to mitigate liquidity risk in one single liquidity pool. Furthermore, as the impermanent loss of OnX alpha ETH2 vault strategies will be low, the objective would be to consider OnX alpha vault tokens as collateral to enable using OnX lending (borrowing ETH). Synergies among the three core pillars of OnX Finance product offering As OnX alpha vaults come to complete the core OnX Finance product offering, each product range — OnX lending, onSynthetics and OnX alpha — is intended to create demand for each other in line with the concept of composability of passive income. As such, the main vision short-term is that OnX vault capital providers should be able to use OnX alpha vaults (several weeks after initial launch) as collateral, which creates demand for OnX lending. Similarly, after upgrading onSynthetics to reach onEthereum (onE) price parity vs. ETH, onE borrowing should be enabled to allow users buying ETH2 bonds borrowing onE as an alternative to ETH. Next steps We expect to completion of the OnX alpha ETH2 vaults to occur during the month of May. More details will follow about the exact date of the release. The vaults will include:aETH/ETH SLP- stETH/ETH SLPThe aim of those strategies is to farm the SLP tokens on Sushiswap, as well as automate the following steps periodically:a) stake the Sushi rewards on SushiSwap,b) farm the xSushi tokens on OnX Finance, andc) stake OnX rewards Benefits:- The gas fee cost of these strategies is amortized among all vault capital providers, which makes the strategy more cost efficient- Automate reinvestment process- Higher APY through compounding farming rewards- Possible to collateralize OnX alpha ETH2 vaults in the future (e.g., aETH/ETH SLP, stETH/ETH SLP)




️Introducing the OnX Synthetic Assets Platform (onSynthetics)

With the recent emergence of the algorithmic stable coin space, the OnX platform is introducing the first ever synthetic assets platform for collateralized tokens to help the DeFi ecosystem. Starting with aETH (ankrETH) as the fractional reserve for the algorithmic Ethereum, this new synthetic assets platform will help unleash more potential in DeFi while creating new ways to manage wealth and even help enable future cross chain and layer-two solutions. By providing an asset stabilized to the value of Ethereum, DeFi users can safely allocate funds that will always match the ever rising value of Eth. There will also be a growing ecosystem that encourages users to participate in the health, equilibrium, and collateralization of the asset through a unique and innovative multi-token synthetics arbitrage hub. The platform will have 3 tokens: onE — onEthereum. The onE will constantly be pegged to 1 ETH, representing synthetic Ethereum. onE will be the first and only synthetic Ethereum asset partially backed by aETH (staked Ethereum certificate), and partially backed algorithmically. onS — onShares. The governance certificate on the OnX synthetic assets platform. onS holders will also receive benefits from the system in the form of seigniorage, and interest from aETH. onB — onBonds. The bond certificate of the OnX synthetic assets platform. More information on this below.💵 Presale onS + Minting onE To provide the initial reserve for the onSynthetics platform and add liquidity to the vault, there is going to be a pre-sale for 5000 onS at 0.1 aETH each, lasting for a maximum of 3 days or until the onS is sold out. There will be a maximum of 5 aETH buy allowed per person. The 500 aETH raised will be added directly into the incentivized aETH reserve vault, which is discussed more in detail below. The remint mechanism: there are 1 to 3 period windows open for the minting application. The system adjusts the minting amount dynamically and all applicants have equal chances to mint and swap proportionately. Minting onE can be done with aETH and onS during the minting timeframes: 0.9-ETH worth of aETH and 0.1-ETH worth of onS (0.45% transaction fee for onS burning)* 0.85-ETH worth of aETH and 0.1-ETH worth of onS with a 7-day lock-up (0.45% transaction fee for onS burning)* — V2.0 iteration 0.8-ETH worth of aETH and 0.1-ETH worth of onS with a 14-day lock-up (0.45% transaction fee for onS burning)* — V2.0 iteration⛏ onS Swap & Mining All the swapped assets for onS will be sent into the Vault. onS will be used for bond interest issuance, and aETH will be used for the liquidation of onB and onE. The total supply of onS will be set to 100,000 to start. However, due to the burning mechanic during the mint process of new onE — the onS token will be deflationary over time as the demand for onE increases naturally. 5,000 onS is reserved for the team to be distributed over the course of 10 months — on a monthly basis. > 80% of this is reserved for the team > 20% reserved for ONX holders. Will be distributed to ONX-ETH LP and the ONX Privilege pool. 5,000 onS is reserved for the initial swap and liquidity generation for the vault: with the price set at 0.1ETH per onS, from which the aETH value will go directly into the vault. 90,000 onS will be distributed through farming over the course of 12 months, with the distribution curve decreasing rewards by 25% per month. The LP pools to be able to start farming for onS will be: 6X: aETH-onE LP 3X: aETH-onS LP 1X: aETH-ETH LP — Mining onE. — There will be a 3-day minting period which will generate 100 onE to help early adopters and assist with initial liquidity of onE. The onE will be given out to the following pools: 5X: aETH 1X: ETH 1X: DAI 1X: ONX 1X: FRAX 1X: USDC🏛 onVaultDividends (onS) One incentivization for the vault will be for onS holders — as dividends. aETH is an interest bearing staking certificate for ETH2.0. All of the extra aETH in the vault will be used to reward onS holders. The dividend time and size will be ultimately decided by the community via governance.Bonds (onB) When the price of onE stays below 1ETH for more than three hours, onE will start to be swapped into onB. The onB holders can gain onS from the vault as interests by staking onB. 1% of the interest pool will be distributed per day and the interest will be calculated on a daily basis. When the price of onE increases above 1 ETH, onB will start to be swapped into onE and the interest will stop bearing. If onE stays below 1 ETH for 30 days, onB liquidation will be switched on with the following rules: onB holders enjoy the privilege to liquidate the vault security deposit in full first. However, if the security deposit is not enough, the system will swap for onB certificates.Liquidation (onE) onE liquidation will be switched on after the liquidation of onB ends. Holders can inject their onE into the burning pool and automatically get the proportionate aETH in the security deposit from the Vault as liquidation compensation via the following formula: aETH = (onE injected / onE in circulation) * total aETH in the Vault📅Schedule onS reserve vault sale with aETH: TBD —estimated to launch end of this week — pending Audit onE minting pools as described above will open after the presale. Will be after the onS presale Single token mining and LP token mining will launch after the pre-sale. In other ONX developments: - the lending contract has been completed and is also pending Audit. - ONX platform is exploring LP vaults and other strategies that will benefit ONX holders. Please send any ideas to @nightvaultking on telegram, our strategy manager! Please join our telegram or follow the OnX twitter for more information and announcements. Other news🌐 Social Website: https://onx.finance/ Telegram: https://t.me/OnXFi Telegram Announcement: https://t.me/OnXFiNews Twitter: https://twitter.com/onxfinance Medium: https://onxfinance.medium.com Github: https://github.com/OnXFinance




ONX Staking — Privilege Pool

ONX Staking — Privilege Pool The ONX Privilege Pool, located at OnX.Finance, allows you to stake your ONX and receive a share of platform fees. When fees are taken from products on the OnX.Finance platform, a portion of these fees are used to market buy ONX and distribute it to the Privilege Pool. For instance, with lending, a portion of the interest collected will be set aside to market buy ONX which will then be distributed to the Privilege Pool. To start the staking rewards, a 1X farming pool is going to be sending ONX to the staking contract every 12 hours.The user will be able to see their rewards increase in real time on the UI, and can withdraw it at any time with no fee’s. What is next? ONX Lending contract has been completed, and is currently undergoing testing. A community update will come by the end of the week with a tutorial and further detailed explanation of aETH lending. The official release will be after the contract has been audited. The development team is also currently working on the ONX collateral token swap, including LP tokens, yearn tokens, and ETH 2.0 staked tokens. A portion of all fee’s from the exchange will be paid out to ONX LP providers. More details to come.📱 Social Media Website: https://onx.finance/ Telegram: https://t.me/OnXFi Twitter: https://twitter.com/onxfinance Medium: https://onxfinance.medium.com Github: https://github.com/OnXFinance




OnX Lending Platform Update

Overview As the first product on OnX.Finance, our lending platform is set to empower the use of collateralized tokens in new ways, starting with aETH and ETH. By using aETH as collateral to borrow ETH, users of the lending platform can earn interest and ONX rewards for both providing ETH to lend as well as collateralizing their aETH. Among the immediate benefits of this process is the opportunity for aETH stakers to take advantage of an increased position through a relatively safe process with low chance of liquidation due to the intertwined nature of aETH and ETH. In addition, ETH holders will be able to earn a competitive apy on their assets. How it worksBorrowing Ethereum using aETH as collateral Borrowers can lock aETH as collateral on the platform and earn ONX rewards while also borrowing Ethereum. Up to 75% of the value of the aETH can be borrowed in ETH which can then be used to secure more aETH (or utilized in other ways). The borrower maintains the accrued interest and keeps the lending ratio below 90% to help avoid liquidation.Lending Ethereum for interest Lenders can add their ETH to the platform and earn ONX rewards as well as interest on their lent ETH. The loans will be collateralized with aETH as security against any possible liquidations. The earned APY from lending will be variable with demand to ensure competitive rates.Interest, Rewards, and platform fees 2/3rds of the interest generated will be paid to ETH lenders with the other 1/3rd going towards platform maintenance and a buyback and burn of ONX tokens. ETH Lenders will receive an additional 7X farming pool for staking their Ethereum as reward for providing the initial liquidity to the platform. Users collateralizing aETH will also receive a 7X farming pool for ONX rewards. Both of these parameters are subject to governance voting from ONX holders. Example: Bob deposits 10 aETH as collateral on the OnX lending protocol. He immediately begins receiving ONX rewards and is also now eligible to borrow up to 75% of his collateral value in Ethereum. Let’s also say that Alice has now put 10 ETH on the platform for lending. She will also immediately begin receiving ONX rewards and will be eligible to earn a share of the interest generated by the platform. Now let’s say that Bob is ready to borrow some ETH and decides to take 5 ETH on loan. He will now be accruing interest on his loan, 2/3s of which will eventually be paid to lenders like Alice. What’s under the hood? Borrowing rate = a + b*0.85*E*x Saving rate = (borrowing rate -a)*x a is the reward rate in ONX (starts at 0.5) b is an arbitrary number adjustable from number 0–1 (starts at 0.9) E is ETH 2.0 staking rewards (multiply by 0.85 for staker rewards) X is utilization rate *Note, variables a and b are subject to governance of ONX holders. What’s Next? At the moment, the development team is undergoing some more testing for the lending platform and will have the contract audited this week. The official release date announcement and tutorial for Lending will come shortly after the audit has been completed. Airdrop Update All of the participating exchanges have been sent the ONX amounts according to 1 ONX per 10,000 ANKR! Eligible users will receive their rewards according to the exchanges timeline if they have not already. All transfers going out from the Exchange Airdrop Wallet can be seen here: https://etherscan.io/address/0x44fb0d3ca750d056b892fe53e72d34361df5a173#tokentxns There was a remaining amount leftover of ~23,072.38 ONX from the 400 000 ONX reserved , which has been transferred over to the ONX Insurance Reserve address: https://etherscan.io/address/0x53d3b757af4d1b897d4a4f24a46769790b0052ba Social Website: https://onx.finance/ Telegram: https://t.me/OnXFi Telegram Announcement: https://t.me/OnXFiNews Twitter: https://twitter.com/onxfinance Medium: https://onxfinance.medium.com Github: https://github.com/OnXFinance




Farming Update

OnX.Finance Farming PageFarming Tutorial: Please follow the tutorial to learn how to get started with Farming for ONX: https://onxfinance.medium.com/staking-tutorial-for-onx-finance-baee518c7591How to get aETH Tutorial: Follow this guide to get aETH: https://onxfinance.medium.com/how-to-get-aeth-e5928ddb86bcNew Pool The team is adding a 5th pool with a 7X multiplier → aETH/USDC LP. This is to incentivize further liquidity for the aETH pairs. aETH is set to be one of the first integral collateralized assets OnX.finance will focus on, with aETH lending as one of the first products to launch on the platform.Multipliers The pool multipliers are as follows:ANKR → 1XankrETH → 2XankrETH/ETH LP on Uniswap → 7XankrETH/USDC LP on Uniswap → 7XONX/ETH LP on Uniswap → 10X The ANKR farming pool will open after the last exchange opens withdrawals following the snapshot. Happy Staking! 📱Social Links: Website: https://onx.finance/ Telegram: https://t.me/OnXFi Telegram Announcement: https://t.me/OnXFiNews Twitter: https://twitter.com/onxfinance Medium: https://onxfinance.medium.com Github: https://github.com/OnXFinance




How to get aETH

The team has noticed a lot of inquiries about the bond token of choice the OnX platform is using. Here is a small tutorial on using the stkr.io platform to stake your ETH: https://medium.com/media/8ea3379842c1b3b75470ebd61a7cd6a2/href Alternatively, aETH can also be swapped on uniswap using the aETH/ETH and aETH/USDC pairs. After receiving aETH, it can be staked directly to receive ONX in the 2X pool, or contribute towards liquidity on the aETH/USDC LP or aETH/ETH LP pairs — to be staked in the 7X pools. 📱Social Links: Website: https://onx.finance/ Telegram: https://t.me/OnXFi Telegram Announcement: https://t.me/OnXFiNews Twitter: https://twitter.com/onxfinance Medium: https://onxfinance.medium.com Github: https://github.com/OnXFinance




Staking tutorial for OnX.finance

Steps to stake on the ONX platform.“Launch App” from the main ONX.finance website or visit https://app.onx.finance 2. Connect Wallet and Select wallet provider 3. Click on Start Farming to find the pools and Enter the pool of choiceFor the tutorial we will use ANKR as an example 4. Approve the token 5. Enter amount of token to stake and click “Stake”. Then approve the action on metamask or trust wallet. 6. After entering any of the farming pools, all active pools will be displayed on the Dashboard:The staked ANKR is displayed here. And the Pending ONX which can be redeemed at any point. 7. To stake more ANKR, click the “+” in the dashboard. 8. To unstake ANKR, click the “ - “ in the dashboard. Enter the amount to withdraw and click the “Unstake” button. Then confirm. 9. To harvest ONX earned so far, click the down arrow key on the right side of the card, which will display “Harvest” on scroll.Confirm on metamask or trust wallet after clicking Harvest 📱Social Links: Website: https://onx.finance/ Telegram: https://t.me/OnXFi Telegram Announcement: https://t.me/OnXFiNews Twitter: https://twitter.com/onxfinance Medium: https://onxfinance.medium.com Github: https://github.com/OnXFinance




OnX.Finance: Announcing the first ONX Airdrop for ANKR Holders

🕳️OnX finance is pleased to announce the (ONX) token airdrop for ANKR holders with many of the major exchanges. All of the participating exchanges will be making their own official announcements on their channels. The list of participating exchanges will be updated here as they announce:UpbitCoinoneBithumbBinanceHuobiGate_io As the community support for Ankr’s Stkr Project, and the newly emerging Bond token market as a whole with aETH being at the forefront, we are incentivizing all ANKR holders with a complimentary ONX token airdrop to celebrate the launch of the OnX Decentralized Platform. The ONX token will play an integral part of the OnX finance protocol, with its use cases ranging from paying interest on OnX loans to earning a portion of trading fee’s on the platform, and governance. 📸 The Snapshot All exchange users will need to have their ANKR deposited to their desired participating exchange by December 23rd, 2020. The snapshot will take place on Ethereum block#: 11,513,500 https://etherscan.io/block/countdown/11513500 All users must hold at least 100 ANKR on most of the participating exchanges to be eligible to receive ONX. Users will receive 1 ONX for every 10,000 ANKR held. Some exchanges will have their own guidelines. Upbit will allow users to receive ONX for any amount of ANKR held in their wallets. Please stay tuned for specific announcements here. ⚓ANKR Withdrawal & Staking The staking pool for ANKR tokens to earn ONX will begin 4 hours after the last exchange enables withdrawals. More information will be confirmed on this post and in the announcement channel on telegram. After the withdrawals are enabled, users will be able to go directly to app.onx.finance, and stake their ANKR in the farming pool to earn more ONX. There is no locking period to farm for ONX tokens. This airdrop campaign will be part of the 4% pre-mint reserved for exchange airdrops. Should any amount not be utilized, it will be put towards the OnX governance treasury. Looking to become the go-to DeFi platform for collateralized tokens, we are excited to forleysmally introduce the DeFi community to the OnX platform! 🚜Farming The farming for aETH, aETH/ETH LP, and ONX/ETH LP tokens is set to begin on block # 11,497,800. The date was moved a few more days to coordinate with all participating exchanges for the snapshot date. This will allow some extra time for new users to learn more about the ONX platform in detail before farming begins. https://etherscan.io/block/countdown/11497800 - At approximately Monday, December 21st: ~930am EST | 230pm UTC 📑Updated Contracts ONX Token Contract: https://etherscan.io/address/0xe0ad1806fd3e7edf6ff52fdb822432e847411033 ONX Farm Contract: https://etherscan.io/address/0x168f8469ac17dd39cd9a2c2ead647f814a488ce9 Pre-mint Timelock: https://etherscan.io/address/0x5716749e23c94c0d03ed03b9ab951d6686d385e1 Token + Farming Contract Audit: https://onx.finance/Smart-contract-security-audit%20report--OnXFarm.pdf 📱Social Links: Website: https://onx.finance/ Telegram: https://t.me/OnXFi Telegram Announcement: https://t.me/OnXFiNews Twitter: https://twitter.com/onxfinance Medium: https://onxfinance.medium.com Github: https://github.com/OnXFinance




️OnX Finance: the first DeFi platform for collateralized tokens

✍ Motivation Over the last year we have seen tremendous growth on Ethereum for projects within the decentralized finance ecosystem, including Uniswap, Sushiswap, Aave, Curve, Compound, Yearn, and many others. The OnX team believes there is an important piece of the puzzle missing on top of the existing foundation: which is a DeFi hub specifically for collateralized tokens. These can be LP tokens, yield-earning tokens on projects like yearn, and even the newly-emerged Bond tokens. OnX will be the first project to build a DeFi platform specifically targeting collateralized tokens — including services such as an AMM, Lending, Yield Farming, and Insurance.💱Bond Tokens & ankrETH With the launch of ETH 2.0 around the corner, we have come across an evolutionary step in the direction towards Bond assets — Stkr (stkr.io). Created by the Ankr team, Stkr is a project which allows Ethereum stakers to participate in the beacon chain with as little as 0.5 ETH, and up to an unlimited amount of ETH with a single transaction. This allows users the opportunity to participate in ETH 2.0 staking without having to stake exactly 32 ETH and without having to manage node servers 24/7. More importantly, users receive an equivalent amount of the synthetic token ankrETH (aETH) in return for their Ethereum staked on the beacon chain until it is redeemable for the rewards, which can be at least 1 year with current estimations. This makes aETH the first large Bond token in DeFi, and OnX is looking to be the go-to platform for this emerging market.🚁ONX Airdrop to ANKR Holders With the support of major DeFi projects like Curve, we believe Stkr’s aETH will be the leader in ETH 2.0 staking as the go-to bond token. To encourage this further, we are starting with an exchange airdrop to ANKR holders on supporting major exchanges. An announcement will soon be made that will detail all participating exchanges and give a snapshot date. All ANKR holders on these exchanges will receive a portion of 1 ONX token for every 10,000 ANKR tokens. This will help with initial exposure for the OnX ecosystem as well as significantly benefiting all ANKR token holders. There will be a 4% pre-mint for this exchange airdrop campaign. Should any amount not be utilized, it will be put towards the OnX governance treasury.🌾 Yield Farming as Token Distribution Majority (93%) of the token supply will be distributed over the next year through yield farming pools. The release schedule will be based on the # of ONX per block until the maximum supply of slightly less than 10,000,000 ONX is reached. The following pools are initially planned for distribution:ANKR → 1XankrETH → 2XankrETH/ETH LP on Uniswap → 7XankrETH/USDC LP on Uniswap → 7XONX/ETH LP on Uniswap → 10XCurve ankrETH → TBD The initial pools are to stimulate the growth of the first large Bond token on Ethereum. These pools and multipliers are subject to change with the introduction of Governance (with ONX)💳Lending aETH will be the first Bond lending token on the OnX finance protocol. This will be the first of many as the DeFi collateralized token ecosystem matures. Bonds, LP tokens, and any other high liquidity collateral tokens will be added to OnX lending and borrowing.💱Collateralized-Token Swap (CTS) OnX will be creating one of the first collateral swaps on the Ethereum network. By providing incentive and opportunity to directly swap collateralized tokens such as LPs and Bonds. This will help provide arbitrage opportunities while also allowing the underlying assets to be kept working.💎ONX Token Benefits The $ONX token will be an integral part of the entire finance protocol. The token will be used as follows:To pay interest for OnX LendingTo receive discounts on the OnX platformTo receive a portion of trading fee’s from the CTSMore benefits as services and products are added to the protocolGovernance abilities — more information to come Tokenomics:4.00% Reserved for exchange airdrop campaign1.75 % Reserved for Liquidity and Marketing1.00% Reserve for treasury — timelocked93.25% reserved for distribution via yield farming * 2% of every harvest for insurance fund * 5% of every harvest for treasury The distribution phase of OnX is done in two separate phase: Bonus Month 1 — lasting 195,000 blocks. Each day on the Ethereum blockchain is approximately 6500 blocks, therefore the block rewards go down every 6500 blocks to start for 30 days (or 195,000 blocks). Starting from block 11485200, the rewards will be 22 ONX per block to start for 6500 blocks (143,000 ONX on day 1), and go down by 0.55 blocks per day. This means day 2 will have (21.45 * 6500 = 139,425), day 3 (20.9 * 6500 = 135,850), and so on until all 195,000 blocks (~30 days) are completed for Bonus Month 1. On Day 30, there will be (6.05 * 6500 = 39325 ONX). Months 2–12 — lasting 2,145,000 blocks. After the bonus month, ONX per block will drop by 0.55 per block monthly (every 195,000 blocks) instead of daily. This means Month 2 will have (5.5 * 6500 = 35,750 ONX daily) -> (35,750 * 30 = 1,072,500 ONX for the month). Month 3 will have (4.95 * 6500 = 32,175 ONX daily) -> (32,175 * 30 = 965,250 for the month). This will carry on until farming is finished. Farming will be completed on December 3rd, 2021 (end farming block 13825200).📅 Release schedule Exchange airdrop snapshot: All participating exchanges will receive 1 ONX per 10,000 ANKR as an airdrop. Block# to be confirmed in a separate post with all participating exchanges! OnX Farming begins on block# 11485200 —  https://etherscan.io/block/countdown/11485200 Dec. 19th: 10:30am PST | 6:30pm UTC📑Official Contracts ONX Token Contract: https://etherscan.io/address/0xe0ad1806fd3e7edf6ff52fdb822432e847411033 ONX Farm Contract: https://etherscan.io/address/0x168f8469ac17dd39cd9a2c2ead647f814a488ce9 Pre-mint Timelock: https://etherscan.io/address/0x5716749e23c94c0d03ed03b9ab951d6686d385e1 Audit: The token contract and farming contract has been officially audited by Beosin blockchain security. https://onx.finance/Smart-contract-security-audit%20report--OnXFarm.pdf📱 Social Media Website: https://onx.finance/ Telegram: https://t.me/OnXFi Twitter: https://twitter.com/onxfinance Medium: https://onxfinance.medium.com Github: https://github.com/OnXFinance



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