Topic: [ANN] ⚡ OnX Finance, The First DeFi Hub For Collateralized Tokens ⚡ - page 2. (Read 891 times)
January 20, 2021, 12:23:08 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?
January 20, 2021, 07:44:29 AM
ONX Lending contract has been completed and right now development team is working on the ONX collateral token swap and other. So team not sitting without business, good to hear that 
January 19, 2021, 08:27:45 AM
So almost all amount of the token supply will be distributed over the next year through yield farming pools - 93%. What will be with the rest 7%?
7% tokens pre-mined! Out of those 7% the following are the percentages of tokens kept for these purposes: - 4.00 % Reserved for exchange airdrop campaign - participating exchanges
- 1.75 % for OnX initial Liquidity and Marketing
- 1.00 % for dev team - timelocked
FYI, We are on the tail end of this bonus month distribution curve!
Timer: https://etherscan.io/block/countdown/11692800
January 19, 2021, 07:11:06 AM
i don't really understand how this privilege pool work, can you explain me with a simple explanations ?
regards
Privilege pool is basically OnX staking without any involvement of any other tokens. It is different from liquidity farming. When you stake your OnX, you get the equivalent in sOnX, which represents your shares of OnX in real time. As more time goes on, OnX is added to the privilege pool externally, either from the 1x pool (for now from farming pool), or in the future from the lending contract and other products! This makes the value of sOnX shares worth more, think of them like coupons that are not tradeable. You can only see the OnX increment in OnX number in the tab of https://app.onx.finance/staking. regards
Quote
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.
Reference: https://onxfinance.medium.com/onx-staking-privilege-pool-6e9dfb0b5c22 January 19, 2021, 04:55:09 AM
So almost all amount of the token supply will be distributed over the next year through yield farming pools - 93%. What will be with the rest 7%?
January 18, 2021, 05:55:21 PM
OnX should be the first DeFi project platform specifically targeting collateralized tokens, but many services is still under development. For example vault is not ready. So we need to wait to see the whole potential of this project
looking at the price movement in gate.io, the price is in upward movement after the drop. but still need to be alert for what's to come in this project. they are still in very early stage.
January 18, 2021, 04:14:44 PM
OnX should be the first DeFi project platform specifically targeting collateralized tokens, but many services is still under development. For example vault is not ready. So we need to wait to see the whole potential of this project
like most defi platforms, a lot of their features are still in beta. now, you just hope that they will indeed develop their platform. looking at the price movement in gate.io, the price is in upward movement after the drop. but still need to be alert for what's to come in this project. they are still in very early stage. one feature that they should have is the life insurance, now, let's see how far they will accomplish on that aspect?
January 18, 2021, 04:00:16 PM
Privilege Pool sounds interesting, basically scheme is well known - you simply stake your ONX and receive a share of platform fees
what make this Privilege pool interesting my friend?
i don't really understand how this privilege pool work, can you explain me with a simple explanations ?
regards
January 15, 2021, 07:28:21 AM
OnX should be the first DeFi project platform specifically targeting collateralized tokens, but many services is still under development. For example vault is not ready. So we need to wait to see the whole potential of this project
January 15, 2021, 02:14:50 AM
A bit of teasing by the team as they just introduced this OnSynthetics which will be released soon as the CEO said. Can't find anymore details on it though now. Will update the community when they announce what is this OnSynthetics!
Meanwhile let's take a look at OnX price as of posting this,
Meanwhile let's take a look at OnX price as of posting this,
January 13, 2021, 02:30:23 PM
we all know that trading fees in the eth network are very burdensome, like myself making transactions with a small nominal value is very meaningless, whether in the future we will not join other networks, even though it is also not very important but meaningful to interested people
From my understanding OnX privilege pool will have less transaction fees or not at all when you withdraw OnX reward. But can't confirm it as of now because reward emission starts will start in a couple of hours. To answer you second concerns, I have heard that there is also a talk about publishing a Layer 2 version of OnX. They are looking at Polkadot Interoperability. they are currently exploring various parachains to build on top of as well to expand the ONX platform. If it is true then that will spread out OnX's utility on various cross-chain registries and cross-chain computation. Let's wait for further confirmation.
January 13, 2021, 09:49:40 AM
Community asked the team has listened or was it just one of their plans all along to introduce a OnX Privilege Pool? Well, it sure looks like a great implementation. The next big update should be the announcement of the Lending product! 
"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."
To know more: https://onxfinance.medium.com/onx-staking-privilege-pool-6e9dfb0b5c22
we all know that trading fees in the eth network are very burdensome, like myself making transactions with a small nominal value is very meaningless, whether in the future we will not join other networks, even though it is also not very important but meaningful to interested people "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."
To know more: https://onxfinance.medium.com/onx-staking-privilege-pool-6e9dfb0b5c22
January 13, 2021, 03:38:16 AM
Community asked the team has listened or was it just one of their plans all along to introduce a OnX Privilege Pool? Well, it sure looks like a great implementation. The next big update should be the announcement of the Lending product!
"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."
To know more: https://onxfinance.medium.com/onx-staking-privilege-pool-6e9dfb0b5c22
"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."
To know more: https://onxfinance.medium.com/onx-staking-privilege-pool-6e9dfb0b5c22
January 07, 2021, 06:34:59 AM
Even though onx token has pretty good supporters in the telegram group, and is already listed on many exchanges, but since the first time of being listed on coinmarketcap, until now the price has continued to decline, what happened there?
Product brings value, as of now only staking is available in a couple of pools which is resulting in whales harvesting their farmed OnX and swapping on Uniswap for other assets which is very much acceptable for a month old project. Being listed on CEX or CMC doesn't mean it is top notch attraction for those who are looking for values in product. In this case we have to wait a few more weeks to see the release of Lending service. Then price of OnX should react to it hopefully. January 06, 2021, 04:51:44 PM
Even though onx token has pretty good supporters in the telegram group, and is already listed on many exchanges, but since the first time of being listed on coinmarketcap, until now the price has continued to decline, what happened there?
I would like to let some more time pass... People know to act strange and seeing it coinmarketcap can sometimes be a bad thing at the begining. Some people expect too much and sell when they see that the coin is not in top20 or something similar. January 06, 2021, 04:23:59 PM
Even though onx token has pretty good supporters in the telegram group, and is already listed on many exchanges, but since the first time of being listed on coinmarketcap, until now the price has continued to decline, what happened there?
January 05, 2021, 04:30:55 PM
aETH/ETH LP, aETH/USDC LP rewards are over. Meanwhile it is a good news that the increase of the multiplier in eth/OnX LP!
Happy Farming!
Happy Farming!
January 05, 2021, 09:39:11 AM
The first product's testing phase is now going on and here's the official update on how Lending on OnX dApp: https://onxfinance.medium.com/onx-lending-platform-update-bf2517cd5355
Also Binance has announced that it has completed OnX distribution for the ANKR holders on theor exchange's wallets!
Link: https://www.binance.com/en/support/announcement/2127a89b19364e3c97d9bb0c7d1027f3
Also Binance has announced that it has completed OnX distribution for the ANKR holders on theor exchange's wallets!
Link: https://www.binance.com/en/support/announcement/2127a89b19364e3c97d9bb0c7d1027f3
December 29, 2020, 03:07:47 PM
As I read on the website there will be more future use cases as new services and products are added to the platform. How soon it can be possible?
A more detailed roadmap plus release of the first product announcement will be coming after the holidays. The team is already in product testing phase for the Lending and Vault products for certain types of collateralized assets. Subscribe to their announcement channel to get updated. Here is the link: https://t.me/OnXFiNews December 29, 2020, 12:46:35 AM
Great news as OnX is going to be listed on Gate.io which is the first official CEX listing by the team. There is a timer for gate listing on their website for onx/eth and onx/usdt pairs as well.
Announcement link: https://www.gate.io/en/article/18765
Announcement link: https://www.gate.io/en/article/18765
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