Topic: [ANN] ⚡ OnX Finance, The First DeFi Hub For Collateralized Tokens ⚡ (Read 891 times)
February 14, 2021, 09:35:33 AM
Despite not mauch marketing OnX Finance finished their onS token's Pre-Sale in just about 7 minutes, it means that token is popular even without advertising, good sign
February 06, 2021, 08:08:56 AM
Congratulations to everyone and thanks from the team for your support as OnX Finance just finished their onS token's Pre-Sale in just about 7 minutes even though there was a very little marketing. Astonishing commitment from the community! The team has reached the Hardcap of 500 ankrETH and the raised funds will now be added directly into the incentivized aETH reserve vaults. 5000 onS currently in circulation and it will start to rise until total supply of 100000 is reached in the next 12 months.
wow it's amazing in situation like now to be able to pre-sale in just 7 minutes I also saw the onE mining release in 4 hours, coingecko has also updated the max supply 
February 05, 2021, 03:26:44 PM
Congratulations to everyone and thanks from the team for your support as OnX Finance just finished their onS token's Pre-Sale in just about 7 minutes even though there was a very little marketing. Astonishing commitment from the community! The team has reached the Hardcap of 500 ankrETH and the raised funds will now be added directly into the incentivized aETH reserve vaults. 5000 onS currently in circulation and it will start to rise until total supply of 100000 is reached in the next 12 months.
February 05, 2021, 07:17:23 AM
Only 5 hours and 43 minutes left to the onS Pre-sale to go live on https://app.onx.finance. 5000 onS in total available for the sale round, 50 onS per wallet limit- lasting for a maximum of 3 days or until the onS is sold out. Users will be able to buy with only ankrETH. Good luck to everyone who are going to participate in it.
Countdown: https://countingdownto.com/?c=3446765
Countdown: https://countingdownto.com/?c=3446765
February 04, 2021, 03:40:50 PM
OnX.finance's token name is ONX, then what about onS? whether this token is also a part of ONX. Finance and what are the uses of this token?
It’s not just onS. For a decentralized seigniorage system it requires 3 tokens to balance and arbitrage. In onSynthetics case it is going to be onS, onE, onB. It’s one product with 3 tokens all under the OnX umbrella. onS, onE, and onB are a closed loop system, which is how seigniorage contracts have to work in order to maintain the balance and parity. I hope it helps. OnX remains the overall governance and income token for the OnX platform by the way! What is seigniorage?
Try these article:
1. https://blog.bitmex.com/wp-content/uploads/2018/06/A-Note-on-Cryptocurrency-Stabilisation-Seigniorage-Shares.pdf
2. https://insights.deribit.com/market-research/stability-elasticity-and-reflexivity-a-deep-dive-into-algorithmic-stablecoins/
February 04, 2021, 04:31:02 AM
OnX.finance's token name is ONX, then what about onS? whether this token is also a part of ONX. Finance and what are the uses of this token? I just heard about onS, I hope you help me to understand it.
Original article on onSynthetics: https://onx-finance.gitbook.io/docs/products/onsyntheticsThis ELI5 extracted from the onSynthetics should help you understand how onSynthetics is going to work: https://onx-finance.gitbook.io/docs/products/onsynthetics/onsynthetics-eli5 and
*You can have a look to the flow chart enclosed and try to understand the impact in onS price if aETH increases or decreases in value after going through those two articles. Please note that the price of ankrETH moved upwards since this flow chart was created. Infact, 1 ankrETH = 0.997377 ETH as of writing this. FYI. this flow chart is not from the team.
February 04, 2021, 01:22:44 AM
OnX.finance's token name is ONX, then what about onS? whether this token is also a part of ONX. Finance and what are the uses of this token? I just heard about onS, I hope you help me to understand it.
Original article on onSynthetics: https://onx-finance.gitbook.io/docs/products/onsyntheticsThis ELI5 extracted from the onSynthetics should help you understand how onSynthetics is going to work: https://onx-finance.gitbook.io/docs/products/onsynthetics/onsynthetics-eli5 and
*You can have a look to the flow chart enclosed and try to understand the impact in onS price if aETH increases or decreases in value after going through those two articles. Please note that the price of ankrETH moved upwards since this flow chart was created. Infact, 1 ankrETH = 0.997377 ETH as of writing this. FYI. this flow chart is not from the team.
February 03, 2021, 06:42:31 PM
Great news guys! onS Pre-Sale Date has been announced!
"Official Pre-Sale of onS will be on Friday, February 5 at 10am PST! Each onS will be priced at 0.1 aETH (ankrEthereum) to start, limit of 5 aETH per wallet! All $aETH reserved for vault."
Instruction:
Click the "Presale" tab under the onSynthetics header on http://OnX.Finance to access which will go live just before the launch of the Pre-Sale.
OnX.finance's token name is ONX, then what about onS? whether this token is also a part of ONX. Finance and what are the uses of this token? I just heard about onS, I hope you help me to understand it. "Official Pre-Sale of onS will be on Friday, February 5 at 10am PST! Each onS will be priced at 0.1 aETH (ankrEthereum) to start, limit of 5 aETH per wallet! All $aETH reserved for vault."
Instruction:
Click the "Presale" tab under the onSynthetics header on http://OnX.Finance to access which will go live just before the launch of the Pre-Sale.
February 03, 2021, 04:48:16 AM
Great news guys! onS Pre-Sale Date has been announced!
"Official Pre-Sale of onS will be on Friday, February 5 at 10am PST! Each onS will be priced at 0.1 aETH (ankrEthereum) to start, limit of 5 aETH per wallet! All $aETH reserved for vault."
Instruction:
Click the "Presale" tab under the onSynthetics header on http://OnX.Finance to access which will go live just before the launch of the Pre-Sale.
"Official Pre-Sale of onS will be on Friday, February 5 at 10am PST! Each onS will be priced at 0.1 aETH (ankrEthereum) to start, limit of 5 aETH per wallet! All $aETH reserved for vault."
Instruction:
Click the "Presale" tab under the onSynthetics header on http://OnX.Finance to access which will go live just before the launch of the Pre-Sale.
February 01, 2021, 02:04:34 PM
Yield Farming is one of the main aspects of this project as I see because 93% of the token supply will be distributed through yield farming pools
Please be more constructive with your comment in my thread! Yes, you are right about token distribution thing as it is almost totally different than other competitors such as IDLE Finance, Compound, Alpha etc. OnX's tokenomics is predictable, transparent and with fair token distribution! February 01, 2021, 10:39:54 AM
Yield Farming is one of the main aspects of this project as I see because 93% of the token supply will be distributed through yield farming pools
January 31, 2021, 11:25:15 AM
how frequent are they going to conduct the audit? is it quarterly or annual? not many defi projects can actually realise their objectives.
I just asked it to Mike and here's the reply he gave which makes a lot of sense when you think about it.Quote
There seems to be confusion about what an audit actually is amongst some people. In blockchain and defi, we are talking about CODE audits for the contracts. There would be no point in repeating this as the code can’t be changed without launching a new contract, which would get its own audit before launch.
I believe some people are confusing this with a financial audit, which is unnecessary in blockchain as all transactions are public so anyone can audit the finances any time they like, even in real time.
I believe some people are confusing this with a financial audit, which is unnecessary in blockchain as all transactions are public so anyone can audit the finances any time they like, even in real time.
January 31, 2021, 09:54:50 AM
the team seems working hard to cater defi supporters. audit is very important in any defi platform. but how frequent are they going to conduct the audit? is it quarterly or annual? not many defi projects can actually realise their objectives. look at how many defi sites are still in beta? looking forward to see this platform up and working.
I am myself also looking forward to seeing that but as you can realize like other DeFis they also started with farming and later introduced Privilege Pool AKA Staking. I had pretty insane APY from the LP in the first 25 days and now for Impermanent Loss's I have taken out my OnX/ETH from the pool as I was losing a lot of OnX due to its pump. They already had Beosin's audit publicly posted since the first day and now they sent out a couple of contracts to audit these and looks like we are right on schedule to launch onSynthetics that the team mentioned in the telegram group. FYI, they do not have any roadmap too! 
January 31, 2021, 05:28:18 AM
Quick Audits Update after getting back from the Beosin Audit farm--->
Link: https://t.me/OnXFi/33577
Quote
It looks like onSyn audit will be completed first. Currently they are just checking over the last parts. So it is expected that onSyn will be the first product to launch. Once the completed audit is in hand, the presale date will be set and announced with plenty of time for everyone to make arrangements.
The lending contracts are turning out to be quite a bit of work for the audit team. In order to ensure the highest level of safety they are proceeding with the highest level of caution and communication which means a lot of back and forth to understand all parts of the contracts and their interactions. This type of lending is a new concept and there aren’t really any similar enough contracts for an easy cross check. The price of innovation. But, there are no major issues to address and steady progress is being made. Thanks everyone for their patience as the team does their best to ensure the most secure experience possible.
The lending contracts are turning out to be quite a bit of work for the audit team. In order to ensure the highest level of safety they are proceeding with the highest level of caution and communication which means a lot of back and forth to understand all parts of the contracts and their interactions. This type of lending is a new concept and there aren’t really any similar enough contracts for an easy cross check. The price of innovation. But, there are no major issues to address and steady progress is being made. Thanks everyone for their patience as the team does their best to ensure the most secure experience possible.
Link: https://t.me/OnXFi/33577
the team seems working hard to cater defi supporters. audit is very important in any defi platform. but how frequent are they going to conduct the audit? is it quarterly or annual? not many defi projects can actually realise their objectives. look at how many defi sites are still in beta? looking forward to see this platform up and working.
January 31, 2021, 02:00:12 AM
Quick Audits Update after getting back from the Beosin Audit farm--->
Link: https://t.me/OnXFi/33577
Quote
It looks like onSyn audit will be completed first. Currently they are just checking over the last parts. So it is expected that onSyn will be the first product to launch. Once the completed audit is in hand, the presale date will be set and announced with plenty of time for everyone to make arrangements.
The lending contracts are turning out to be quite a bit of work for the audit team. In order to ensure the highest level of safety they are proceeding with the highest level of caution and communication which means a lot of back and forth to understand all parts of the contracts and their interactions. This type of lending is a new concept and there aren’t really any similar enough contracts for an easy cross check. The price of innovation. But, there are no major issues to address and steady progress is being made. Thanks everyone for their patience as the team does their best to ensure the most secure experience possible.
The lending contracts are turning out to be quite a bit of work for the audit team. In order to ensure the highest level of safety they are proceeding with the highest level of caution and communication which means a lot of back and forth to understand all parts of the contracts and their interactions. This type of lending is a new concept and there aren’t really any similar enough contracts for an easy cross check. The price of innovation. But, there are no major issues to address and steady progress is being made. Thanks everyone for their patience as the team does their best to ensure the most secure experience possible.
Link: https://t.me/OnXFi/33577
January 28, 2021, 02:00:46 AM
How do you think you will execute the life insurance? Claim would probably have to be paid out automatically, in the spirit of having a trustless environment. Otherwise there is no benefit over traditional insurance.
You have got a great question and that brings up a flaw that I see in this project so far because it looks like they should rebrand the "Insurance" term to replace it with "SAFU Fund". Kind of misleading imo. I will contact Mike to bring up this. I believe this is the wallet address which contains the "SAFU fund": https://etherscan.io/address/0x53d3b757af4d1b897d4a4f24a46769790b0052ba#tokentxns and the OnX holders being the holder of OnX platform's governance token holder will determine how the funds are going to be utilized in future. January 27, 2021, 10:06:58 PM
How do you think you will execute the life insurance? Claim would probably have to be paid out automatically, in the spirit of having a trustless environment. Otherwise there is no benefit over traditional insurance.
January 26, 2021, 02:39:37 PM
Quote
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.
To know more latest update on onSynthetics click here: https://onxfinance.medium.com/%EF%B8%8Fintroducing-the-onx-synthetic-assets-platform-onsynthetics-8a4cc4d8c6f2
This news has also pushed the price of $OnX too! Currently it is being traded at around $2.44! Yippee lol
January 23, 2021, 01:52:23 PM
Latest Update!
Quote
Hey guys quick update. The lending contract has been completed and is currently undergoing an official audit before it can be released.
While we wait on the audit we're continuing work on the front end integration, and making a new lending post with more details, so we're ready for a quick release. The lending to start will be collateralizing aETH (the real value of aETH, not based on uniswap), and borrowing ETH against it. All at the same time earning ONX from the farm. Think about the aETH farm right now, except you will also be able to borrow up to 75% of its ETH value if there is enough supplied. More details to come on this.
Additionally the design for onSynthetics is completed, and the contract for that is nearing completion as well. Internal tests (like for lending) are next for onSynthetics starting Monday.
We will keep everyone updated when we hear back from the auditors, which should be this week maximum. We are in priority.
While we wait on the audit we're continuing work on the front end integration, and making a new lending post with more details, so we're ready for a quick release. The lending to start will be collateralizing aETH (the real value of aETH, not based on uniswap), and borrowing ETH against it. All at the same time earning ONX from the farm. Think about the aETH farm right now, except you will also be able to borrow up to 75% of its ETH value if there is enough supplied. More details to come on this.
Additionally the design for onSynthetics is completed, and the contract for that is nearing completion as well. Internal tests (like for lending) are next for onSynthetics starting Monday.
We will keep everyone updated when we hear back from the auditors, which should be this week maximum. We are in priority.
January 20, 2021, 02:07:04 PM
good token distribution strategy, I realized that the OnX per block is shrinking, meaning that it will be very difficult to get it, nice to see Onx tokens have been listed on several good exchanges, by the way, when will the airdrop program be launched?
Hi there glad to see you all replying in such positive ways! The team is hard at working to finish up lending dapps which should be released before the end of the month along with a top secret feature that will be announced soon. About the airdrop, it has already occurred, ANKR holders in big exchanges like Binance, Okex, Houbi, Bithumb, Gate got 1 OnX by holding 10000 ANKR. But I have talked to the CEO about doing a bounty program on the forum, he sounded interested. Let's see! 
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