Bitcoin Forum

ONYX Futures Exchange - Commission-Free Crypto Futures Trading With Zero Trading Fees and Decentralized Account Balances
 
Don't miss out on this great opportunity. We have amazing plans for the ONYX Futures Exchange Platform
 
What Is The ONYX Futures Exchange
The ONYX token presents a commission-free Futures exchange that covers operational costs by yearly coin offerings based on the number of contract created for the previous year and the current years’ token value, instead of charging fees for each trade. The increase in demand for ONYX tokens from traders who are fond of commission-free futures markets will help the ONYX token increase in value. The exchange is developed using a smart contract. This means your funds are in your control and not ours. The Ethereum blockchain will hold all the account balances. This unique model will provide transparency, speed, and enhanced security for the ONYX platform.
 
The ONYX Token
All account balances on the ONYX Futures Exchange are denominated in ONYX tokens and the tick value of every futures market is 1 ONYX. By using ONYX tokens (Ethereum based) as the native currency on the OYNX Futures Exchange, all transaction fees are eliminated. Traders must own ONYX tokens to participate in the commission-free, trustless market on ONYX. All profits, losses, margin requirements, and account balances are denominated in ONYX tokens. By ONYX tokens being the currency of the exchange and being required by all traders, this creates demand for the token, therefore increasing the value. Revenue is generated, by introducing more ONYX tokens on yearly basis by coin offerings at a 10% discount based on the previous year's new contracts created and the current year's token value.
 
ONYX Token Sale Starts February 19th
ONYX will need funds to launch this revolutionary futures exchange. The Exchange is planning to launch its Initial Coin Offering on February 19, 2018 12:00PM UTC in order to get sufficient funds for successful completion and operation of this Exchange. Only 600M ONYX tokens will be sold in the ONYX Token Sale and 120M will be set aside for bonuses. Buyers will exchange ETH for ONYX tokens at an equivalent price of USD $0.01 per ONYX token as there is a maximum hard cap of $6M that can be raised. 20% of the Team's (100M) tokens will be vested yearly beginning in February 2019, ensuring the team has strong incentives to create a stable, self-perpetuating business model that provides ongoing and consistent demand for ONYX. Below are the ICO token details:
 
•              Name of the Token: ONYX
•              Representation: ONYX
•              Total number of tokens: 720,000,000
•              Accepted Currency: Ethereum
•              Soft Cap: $200,000
•              Hard Cap: $6,000,000
•              Price for one token: $0.01
 
During the ICO we will have the following bonuses:
Day 1-6            20%
Day 7-13             15%
Day 14-20         10%
Day 23-30          0%
 
 
 
Commission-Free Futures Trading - How Is It Possible?
ONYX uses its own cryptocurrency, called the ONYX token, as the native currency of the ONYX Futures Exchange. Your account balance on the ONYX Futures Exchange is denominated in ONYX tokens and all your trading profits and losses are in ONYX tokens. ONYX eliminates transaction fees on trades and covers operational costs by creating and selling a small number of new ONYX tokens each year.
 
 
Main Features & Benefits of ONYX
It links interests of investors, traders, and ONYX
Zero Trading Fees
Decentralized Account Balances
Highly Liquid Futures Markets
Automated Market Stabilizers
Token Issuance Revenue Model
Bitcoin, Ethereum, Bitcoin Cash, Dash, Monero, Litecoin, Ripple, NEO, Cardano, and Stellar Futures
More cryptocurrency pairs will be available in near future and ONYX will continue adding additional pairs.
The optimum tick sizes provide a perfect balance between profit percentage and risk level.
High Leverage
No Auto Deleveraging
The Best Technology
Off-Chain Price Discovery, On-Chain Settlement
Decentralized Governance by [Suspicious link removed]plete Privacy
Blockchain Driven
 
 
 
Zero Trading Fees
There are no transaction fees of any kind on the ONYX Futures Exchange. Traders can submit Maker orders or Taker orders at any time under any circumstances and pay 0% commissions on all trades forever. ONYX’s revolutionary token issuance model makes commission-free trading fully sustainable indefinitely, and it actually thrives as the exchange gets busier, ensuring the long term success of the ONYX Futures Exchange.
 
Decentralized Account Balances
Traders do not need to trust ONYX with holding their account balance in order to trade on the exchange. Your account balance is held by a decentralized, independent smart contract on the Ethereum blockchain, not by the exchange. ONYX cannot freeze/mismanage/lose your funds because we physically don’t have access to your money. And in the unlikely event that ONYX is hacked there are no funds for the hackers to steal.
 
Highly Liquid Futures Markets
When you remove the constraints of transaction fees you get highly liquid markets because traders engage in high volume, single tick trading strategies that are not viable on other exchanges due to commissions. Liquidity is further enhanced by the presence of automated market stabilizers, funded with 20% of the total supply of ONYX tokens, that are programmed to break even whilst keeping spreads tight at all times, even in volatile market conditions.
 
Automated Market Stabilizers
ONYX market makers are automated trading bots with algorithms that are programmed to break even. With their highly active trading strategy and a large trading bank of 18% of all tokens in circulation (180M ONYX), they help create liquid futures markets that have tight bid and offer spreads, even in volatile market conditions, giving traders the confidence of always being able to enter and exit positions which further enhances liquidity.
 
ONYX Native Currency
The ONYX Futures Exchange has its own native cryptocurrency, called the ONYX token. The tick value of each ONYX futures market is 1 ONYX token, meaning that all trading profits and losses are denominated in ONYX tokens. Margin requirements are payable in ONYX tokens and traders account balances, deposits and withdrawals are denominated in ONYX tokens. Therefore, traders must own ONYX tokens to trade on ONYX’s commission-free, trustless futures markets, which creates demand for the ONYX token.
 
Token Issuance Revenue Model
We will start creating new ONYX tokens in the middle of 2020. The new tokens will cover the costs of operating the ONYX Futures Exchange. These costs will include software development, servers, staff, premises, marketing, support and all other associated costs. The number of new tokens created will be based on the number of contracts created for the year and the token value.
 
Bitcoin, Ethereum, Bitcoin Cash, Dash, Monero, Litecoin, Ripple, NEO, Cardano, and Stellar Futures
ONYX has 10 futures markets: BTC/USD, ETH/USD, BCH/USD, DASH/USD, XMR/USD, LTC/USD, XRP/USD, NEO/USD, ADA/USD, and XLM/USD. Each futures contract has a large tick size, which eliminates a lot of noise, even in volatile market conditions. The Tick value of each futures contract is 1 ONYX token, meaning that all trading profits and losses are settled in ONYX tokens.
 
Large Tick Sizes
A distinctive feature of ONYX futures markets are their large tick size. In futures trading, a tick is the minimum price increment that a futures contract can move up or down. For example, the tick size on the BTC/USD futures contract is $5.
 
High Leverage
ONYX futures markets offer traders very high leverage of up to 100x, allowing them to realise large percentage gains (and losses) from relatively small price movements. But unlike other
Bitcoin futures exchanges, ONYX does not cancel your winning trade to protect itself from losses if your counterparty’s losing position gets stopped out because he was too highly leveraged.
 
No Auto Deleveraging
Unlike other Bitcoin futures exchanges that offer high leverage, ONYX will not close you out of a winning position to protect itself from losses when your counterparty’s losing trade is stopped out because he was too highly leveraged. It’s out of your control whether the counterparty to your trade is at maximum leverage or not and you shouldn’t miss out on a profitable move that you correctly predicted because the exchange canceled your winning trade.
 
Off-Chain Price Discovery, On-Chain Settlement
ONYX is a hybrid futures exchange that combines the speed and reliability of a centralized order matching engine with the trustless security of decentralized account balances on the blockchain. This offers traders the best of both worlds when it comes to speed of execution and the safety of their deposits. Traders enjoy the benefits of real time trading on a blazing fast order matching engine without needing to trust the exchange with their money.
 
Complete Privacy
Traders on ONYX can start trading immediately without needing to submit their name or any identifying documents of any kind. As an offshore exchange that accepts only ONYX tokens, ONYX is not bound by intrusive, ineffective and pointless KYC/AML regulations that intrude on our users privacy and which put them at risk of identity theft by making the exchange a target for hackers seeking personal information. The best way to protect our users personal data is not to collect that data in the first place.
 
Blockchain Driven
ONYX is driven by blockchain technology. From the use of its own cryptocurrency to eliminate transaction fees, to storing account balances trustlessly in a decentralized smart contract, and allowing its traders to determine the rate of new token issuance, everything that makes ONYX revolutionary is only made possible by embracing the disruptive power of new blockchain technology that until very recently didn’t even exist.
 
Roadmap
ONYX Token Sale & Onyx Exchange Development - Feb 2018
Onyx Exchange Beta Release &  Onyx Tokens Listed on Exchange - April 2018
Onyx Futures Alpha Release & ETF Futures Development - July  2018
ETF Futures Beta Release - September 2018
 
ETF Futures (July 2018)
Beginning in July 2018 we will begin developing the ETF Futures contracts. The ETF futures operate much the same as a normal futures contract. These contracts never take possession of the asset, but keep the capital moving from one basket of futures to another. This means investors don't have direct exposure to the underlying assets and must deal in cash terms. Most ETF futures track the commodity and currency markets as is the case for normal futures contracts. Commodities invite speculative trades on the future price movements of raw materials used to produce various products. We will be offering ETF Futures contracts in 3 crypto categories; transactional, platform, and utility.
 
For more information please contact info@onyxfutures.io or visit www.OnyxFutures.io
Follow us on social media at the following links:
Telegram: https://t.me/joinchat/AAAAAFBa49m6V_pcQIqR1g
Twitter: https://www.twitter.com/OnyxFutures
Reddit: https://www.reddit.com/user/OnyxFutures/
Bitcoin Talk: https://bitcointalk.org/index.php?topic=2900544.new#new

Hello,

Can you tell us more about your team?

Sorry, it's very long and I really can't force myself to read all of your ann. But one sentence caught my interest, you cover your operational cost with yearly coin offering. What do you mean by this?

Decentralization is key to the success of this project.

Each year we will mint more coins to raise funds to cover the cost of operating the exchange. This is how we not charge commission fees on the exchange to include no maker/taker fees as well. The number of newly created tokens will be based on the number of newly created contracts for the year and the token's value. These tokens will be offered at a 10% discount.

Please quote me so I know that your post is to reply me.

Would it mean your coin will have unlimited total supply? As you keep minting each year. For earlier part of the project, when there were not many coin circulating, you can easily maintain the price. But, as you progressing, with the last year total supply still circulating out there, and you keep minting new coins, wouldn't it mean you slowly reducing the value of your own coin?

Russian and Polish translation reserved.

@Miiike the number minted will be based on the number of newly created tokens and the token value. The most newly created tokens that we will be able to mint in a year will be 1% (no more than 10 million). This will not have an affect on the token value as all. These newly minted tokens will only go towards the operating cost of the exchange, which will prevent us from charging transaction fees to the traders.

@Ted Kin are you requesting the post on Bitcoin Talk to be translated or our entire website?

Well, 10mln max yearly is quite low, I think that will do, it's still reasonable.

When you're finally operating, do we have to have only *insert coin name here* and ONYX pair or we can have other pairs? Like, we can only have ETH-ONYX, BTC-ONYX or we can have ETH-BTC?

@Miiike in order to trade on our exchange, traders will need ONYX tokens. All profits and losses will be denominated in ONYX tokens.. We will be listing on external exchanges within 3-4 months of the ICO completing. We are expecting investors during the ICO to make huge profits due to the number of traders who will want ONYX tokens to trade on the commission-free exchange that includes over 10 markets. We will have the following futures markets:

• BTC/USD
• ETH/USD
• BCH/USD
• DASH/USD
• XMR/USD
• LTC/USD
• NEO/BTC
• XRP/USD
• ADA/USD
• XLM/BTC

https://vimeo.com/254863967 (https://vimeo.com/254863967)
A brief video describing Onyx Futures Exchange.

@Miiike The hybrid model of ONYX combines both centralization and decentralization concepts to come up with a unique solution. ONYX model contains a centralized server and decentralized smart contract. ONYX will only provide the user-interface for the trading and regulate the market through a centralized server. The centralized server will speed up the transaction process and make the system more reliable. On the other hand the decentralized smart contract will eliminate the need to transfer funds to broker’s accounts. Smart contract will evaluate the available balance of the trader and will keep it updated. The exchange will interact with the smart contract to find the current financial situation of the trader. The assets of the trader will remain in the chain and the trader will have his/her own private key. The assets will be locked for an ongoing trade with the help of the smart contract. In this way, traders will be able to do margin trading instantly while keeping funds in their control.

So we still can trade pairs as how "usual" market is (that is, eth-btc, and so on). But the value of our profit and loss will be denominated in ONYX? Or we will have an option to show them in "usual" currency? Won't it be a huge learning curve and double effort if we have them displayed in ONYX?

@Miiike You won't be able to trade pairs such as cryptocurrency-cryptocurrency. Let me first start by explaining a futures market:
A futures market allows traders to buy and sell commodity and futures contracts for delivery on a specified future date without purchasing the underlying commodity or financial instrument. In addition, a futures market is pretty much a legalized way to bet against a market. We will offer the follow future markets:
• BTC/USD
• ETH/USD
• BCH/USD
• DASH/USD
• XMR/USD
• LTC/USD
• NEO/BTC
• XRP/USD
• ADA/USD
• XLM/BTC

We will have tutorials on the entire process. Let us know if you want us to explain further in details by providing an example.

. . . . .

Oh.... Ohh...

Ok, now I feel really stupid. Sorry. Yes, I know what futures and future market are. It just... when I read the "future" word, I thought you refer to "we are a next generation exchange" instead of futures. My bad.

I think it's all quite clear now. I think I'll try your platform once it is fully functioning in a few months.

@Miiike no worries. Our ICO will begin on February 19th at 12:00PM UTC. Tokens will be selling for $0.01 USD each. We will be accepting ETH and everything will be controlled by the smart contract. Don't miss this opportunity as we will be the first Futures Exchange to launch on the blockchain and the demand will be very high for those traders to looking for commission free exhanges.

SCAM ALERT!!! They are not first Futures Exchange and it is complete copy of other project: https://bitcointalk.org/index.php?topic=2649724.0

Show us your team!!!

STAY AWAY!!!

Looks like a blatant rip of Digitex. You dont have a single team member listed on the site either. Definetely looks a scam,

This is the site they've copied - digitexfutures.com (http://digitexfutures.com)

@runrightnow we are not a scam. We are taking what Digitex is doing and making it much better. We are a legitimate exchange and you will see in due time. It's on you if you wish to miss out on this great opportunity!!!!!.

@JohnChanna this is not a scam. Decentralizing is the key to our company. We are taking what Digitex is doing and make it better. Check out our whitepaper for more details. If you choose to nor participate then don't. But do not call us a scam.

If you are not a scam can you answer the following:

1: why did you copy&paste the digitex terms and conditions word for word?
2: why is there no team information on your website?
3: why does your white paper not make grammatical sense, or is that cos you took the digitex one and rehashed it and now it reads wrong , as it doesn’t quite fit you slight change to the digitex model?
4: why no company information where we can send you a letter from our lawyers?

@runrightnow

1) We have the same similarities, and this is standard for all platforms.
2)Decentralization is the key to the success of this project; rest assured that everything will control by the smart contract and not by us.
3)To someone that knows about Futures market it makes complete grammatical sense.
4)Cryptocurrency was founded on the basis of decentralization.If you need a lawyer to participate in an ICO or cryptocurrency, then this is not for you.

You can believe what you want to believe. We've stated we are a legitimate company. If you wish to not participate in our ICO, it's your decision.  We will definitely launch our live platform before Digitex. Let the customers decide.

I will indeed not be investing. Because who in their right mind invests in something which doesn’t have a single team member listed.

@3bdellal and @JohnChanna the purpose of cryptocurrency is for decentralization and anonymity. As mentioned before, the smart contract will handle everything and we will never hold your private keys. The funds will be in your control at all times. Thanks for visiting our post.

That is just an embarrassing answer. The point of crypto is anonymity but this is not the thing we’ve asked or mentioned. The point of crypto is not for the ‘team’ of the project to stay anonymous. Clearly though given it’s obviously a scam and has copied digitex almost word for word, I guess it makes sense to stay anonymous for you. No one in their right mind is investing in something where there is no actual people mentioned. Good luck with your scam.

@JohnChanna thanks for visiting our post. Belief what you want to. Nobody is asking you to join our ICO. Our name is Alex and Blaine. Digitex is our competitor and was the first platform to have an ICO for Futures trading on the blockchain. However, we are taking what they are doing to another level by offering more Futures Market as well as plans to have our exchange operational by the end of Q2 2018.

No worries - Alex and Blaine sound great actually so I’ll definitely be investing now.

Time to stop this. SCAM confirmed.

https://gyazo.com/a229b5d80b9104294958e662f231f0cd

https://gyazo.com/8535feb80cb335b9413671e59cfa63d3

https://gyazo.com/88da8e711629eae8f4537023030efa24

@runrightnow this is FUD. We have checked our server logs and this conversation doesn't exist. In addition, the channel this was reported from is not the official telegram channel for Onyx Futures. In addition our profile name does not have the Onyx logo. This is our competitor seeing competition and does not want to see Onyx Futures succeed.

Dont worry I believe you guys! Go Onyx. The greatest copycat in history. With such an innovative team called Alex and Blaine, how could this not be successful. God bless.

Can you explain this business plan please? We are supposed to buy your tokens for $0.01 in 6 days and then go back in time to June 2012 to get our profits? (This is in your whitepaper)

see image
https://gyazo.com/5a85b7413c07bf52092e611637e824ee

How did you manage to check the server logs of Telegram?!

@runrightnow and @JohnChanna. We aren't sure if you and Lee Mayne are the same people, but the links you provided regarding someone from our team reaching out to you is complete FUD. We asked for the transcript and you have not been able to provide it. In addition, our user account on telegram does not have a logo and our group chat is private. I have provided screenshots for the world to see that there are individuals or fictious accounts out there that is trying to run competition. I'm not sure what you have against our company, but we wish you the best. As mentioned several times, we do have similarities to Digitex. We never denied that. We are taking what Digitex is doing and taking it to another level. In addition, we never claimed to be the first site doing what we are doing, we are claiming that we will be the first site to launch the actual live platform "Q2 2018 vs Q4 2018" for our competitor. I have included screenshots of a user on telegram that might or might not be you two that has threatened us.
https://imgur.com/a/pHZLp
https://imgur.com/zqKAy4X
https://imgur.com/a/F8iyx
https://imgur.com/a/2rrqd
https://imgur.com/a/s4fTW
https://imgur.com/a/EPMZj
https://imgur.com/a/NOynx
https://imgur.com/a/oZYZx
https://imgur.com/a/aNEAj

@JohnChanna that was a typo in our original whitepaper.

You're looking to raise millions of dollars and you have a 'typo' in your whitepaper? I cant trust you to spell so how can we as potential investors trust and invest in a faceless company?

I'm not involved in digitex, I've asked valid questions and you've brushed them off as if I'm the moron. Where is the team? 'alex and blaine' - that sounds legit.

There are people impersonating ONYX Futures Exchange. If an email or post did not come from admin@onyxfutures.io or info@onyxfutures.io it is fake. No business is conducted through any media platforms which includes: Twitter, facebook, Telegram, Reddit, and Bitcoin Talk. #onyxfutures

One minute its fud by the 'competition'(you dont copy your competition word for word as this 'Lee' says), next minute someone is impersonating you. So which is it? You don't seem to have much a clue - huge redflag. I strongly urge everyone not to invest - I doubt they will anyway without a single team member on the site, no matter how amazing the idea may or may not be. And trying to raise millions of dollars with a pretty big typo.

@JohnChanna there was a typo in our whitepaper. We aren't asking you to invest in our ICO. That decision is ultimately up to you. As far as the twitter post goes, there was a screenshot sent to us from Lee Mayne who apparently works for "Digitex". He provided us a screenshot of a business conversation that some apparently from my team had which was completely not true. We wanted to make it known that business is only conducted by @onyxfutures.io domains. We just wanted people to know whats going on. Social media is marketing not business. No-one from our team is doing what "Lee Mayne" is saying we did. As stated several times before, it's your decision whether or not you invest in the ICO. Have a great day.

Lee has even said in the screenshots you've provided that someone is either a rogue employee from you or impersonating you. So I'm not sure what you're proving. But good luck with your project. It's obviously a scam but all the best to you too.

@JohnChanna that's not possible as all of our accounts are locked down and we have checked the logs on our servers. Also no transcripts have been sent to our admin account. In addition, immediately following the post we were contacted immediately by Lee asking if the post can be removed. There were attacks about spending marketing funds against us, and I feel like Lee knew he was wrong and hence he wants those taken down. No other comments will be answered regarding that issue.

You seem to have missed the part where Lee also says someone may be impersonating you so actually he gave you the benefit of the doubt did he not? In any event whether these posts stay up or not is irrelevant. It adds to the clear immaturity and dodgy nature of onyx but its not the nature of those posts that make onyx look like a scam. No other genuine non scammy ICO in history has created an ico without team members being listed on the site - this is nothing to do with 'decentralisation' before you say that again - decentralisation is something which benefits the customers and users, not to hide the true identity of the creators so they can make fake products which are copied from what look like genuinely great ideas and run off with the money they might raise.

On the transcript thing - I have no idea what you're on about - does that mean your screenshots also havent proven the transcript thing either? I dont understand. Attempting to reason with you is like attempting to reason with a child.

@JohnChanna. Thanks and have a nice day.

Per our advisors, we are moving our ICO launch date to February 23 2018 at 12:00PM UTC. This will allow more time for marketing and allow more people to know about this great investment.

1. No team. Instant red flag and nobody should invest in a ICO where the team doesn't show its face/history. This is not about decentralization or anonymity, it's about trust. The fact they're trying to use those two words as excuses to not reveal themselves is ridiculous. Even with just this point alone no one should invest in this, but I will go on just for the sake of it.

2. Blatantly copied whitepaper from digitex. Slightly changed so they can argue that it's just similar, but not exactly the same. Seriously? This is so sad of an attempt at a scam. Are you guys middle school students?

3. Exactly same business model as digitex. Even the ICO details are almost the same.

4. Claims to be better than digitex but I don't see where it can possibly be better, since whitepaper is a complete copy.

5. Claims they are better because they have more markets. More markets doesn't mean anything in futures trading, if they had any experience in crypto futures they would know why. Just go to Bitmex and see if any other markets other than BTC/ETH are even close to active.

6. Users cannot post on their reddit page.
-> After this post they made it possible.

7. Telegram more dead than OW players think TF2 is. At the time of writing the post (1 week before ICO) there were 18 people.


DO NOT INVEST. DO. NOT. INVEST.

YOU MIGHT AS WELL BUY BITCONNECT COINS.

Dev team, it will be nice if you change your policy of anonymity by informing us your team. I mean, if you have nothing to hide, why not? It can be considered as fulfilling investor's demand, and I should agree that a project without clear team background is a huge red flag.

This time next week our #ICO will be live and rocking. It's time to buckle down and continue striving to make #OnxyFutures the best #Futures #Markets Platform of 2018. Join us today at http://www.OnyxFutures.io  #ONYX #eth #btc #dash #neo #crypto #stellar #ripple #dash #cardona #BCH

@Miiike if investors want names released, we will meet with advisors tomorrow morning and update you on the details.

@Memory942. We see that you are another person who just created a profile that is spreading FUD .

1. Decentralization is the key to the success of this project. The smart contract will handle everything and we won't' have control of anyone's private keys.

2. The similarities in the WhitePaper is that we have the same idea. We are much better because we are offering 10 Futures Markets as well as planning to launch our trading engine in Q2 2018. We aren't asking you to invest.

3. All Futures Markets will have the same business model; just as all lending sites do.

4. We will be much better than Digitex. It's only your problem if you miss out; once again we aren't asking you to invest.

5. Just wait to see.

6. Users can post on our Reddit page.

7. We are doing things the natural way. We aren't paying for our word to e put out; its organically growing.


Thanks for visiting our site.

tldr; Don't invest. Below are the points they are making. I will copy paste them here in case they edit anthing.


@Miiike if investors want names released, we will meet with advisors tomorrow morning and update you on the details.

@Memory942. We see that you are another person who just created a profile that is spreading FUD .

1. Decentralization is the key to the success of this project. The smart contract will handle everything and we won't' have control of anyone's private keys.

2. The similarities in the WhitePaper is that we have the same idea. We are much better because we are offering 10 Futures Markets as well as planning to launch our trading engine in Q2 2018. We aren't asking you to invest.

3. All Futures Markets will have the same business model; just as all lending sites do.

4. We will be much better than Digitex. It's only your problem if you miss out; once again we aren't asking you to invest.

5. Just wait to see.

6. Users can post on our Reddit page.

7. We are doing things the natural way. We aren't paying for our word to e put out; its organically growing.


Thanks for visiting our site.


===================================


1. Decentralization is the key to the success of this project. The smart contract will handle everything and we won't' have control of anyone's private keys.

->This is the reason they are giving for not revealing themselves. If you have any common sense, you can see that this is complete bullshit. By their logic, I guess every other coin whose developers are known are all centralized? Decentralization has nothing to do with revealing the developers.

At this point, even if they reveal themselves, I advise not to invest since the team will be probably fake. They are probably making fake profiles at this very moment.



2. The similarities in the WhitePaper is that we have the same idea. We are much better because we are offering 10 Futures Markets as well as planning to launch our trading engine in Q2 2018. We aren't asking you to invest.

-> See my point #5 on the post i made earlier. Anyone with futures trading experience knows that more markets mean nothing in futures trading.
Also they are keep saying "We aren't asking you to invest" kind of bullshit. They're desperately trying to make themselves look more legit by acting confident. Don't fall for this.



3. All Futures Markets will have the same business model; just as all lending sites do.

-> Yeah, sure. Just look at this and decide for yourself.

onyx : https://imgur.com/a/g0KoS

digitex : https://imgur.com/a/U5xby

This is only an example of how similar the whitepapers are. Blatant ripoff.

Btw, their ICO page says 720,000,000 tokens are available. Their graph says 700,000,000. They're not even proof reading.



4. We will be much better than Digitex. It's only your problem if you miss out; once again we aren't asking you to invest.

-> Once again, acting confident to look legit. "It's only your problem if you miss out" - trying to build FOMO. Is that the way legit companies talk to their investors? No. Never fall for this bullshit.



5. Just wait to see.



6. Users can post on our Reddit page.

-> Only after I made my previous post they made it possible. Also, their reddit page is a joke.



7. We are doing things the natural way. We aren't paying for our word to e put out; its organically growing.

-> But when they have 18 people in telegram group 1 week before ICO, I think it's time they start paying for marketing. If they even have a marketing team, that is.



Seeing how unknown this ICO is, I don't think I need to even make these posts since nobody's gonna give a shit about ONYX anyway. But I'm just doing this because I'm a digitex investor and I'm mad at the fact that they're trying to use digitex team's hard work to commit fraud.

I would be disappointed if this ICO raises anything above 0 ETH.

@memory942 why do you continue to post FUD. We see that your account was created on February 16. The same day you started spreading FUD. We know who you are. The same guy from earlier in the week. Comments on Reddit have always been allowed. Check the message history. A user was able to comment 2 days ago.

FUD, what a magic word. Just say FUD and expect everyone will disregard every red flag this scam has. Yep, that's how it works.

And yes, I did create this account just to post here. So what? Doesn't change the fact that my arguments are valid.

@memory942 we know that you are the same guy that works from Digitex that threatened us via telegram. All can see the post on twitter.

Our code has been released to the public on Githib for everyone to view.

Our CEO, Co-Founder, and code has been listed on our website. Join #OnyxFutures today at https://www.OnyxFutures.io  #ICO starts February 23 at 12:00PM UTC.

lol two random guys you found called alex and blaine. well tell 'alex and blaine' to change their linked in to show their involvement. Oh wait you cant. At least choose two random guys who have experience in building or coding or trading

@JohnChanna our smart contract developer as well as designing company will be added to our website today. We will post on here once completed.
@WilliamPerkins70 thank you. We will review.

Our team has come to an agreement to reveal their identities. Our Smart Contract Developer and Design Developers have been added to the website. Visit us today at www.onyxfutures.io

While the team's linkedin profiles are real, their relation to onyxfutures isn't mentioned anywhere on their profile even to the slightest degree, which means these scammers just used random profiles, which just by itself is a crime anywhere in the world. Unless Alex and Blaine mention anything about onyxfutures on their linkedin pages, this is 100% guaranteed to be a scam.

Reserved spanish translation. Please confirm if you need it

You have 3 member in your team? And this people dont have any solid experience. And worked in different niches without good position. Its not causes trust. How about advisors? Do you have some?

Great project. I hope you can form a huge community for the popularization of your project. Good luck!

This scam will disappear after you send them money, good luck.

I hope no one still thinks that there's even 1% possibility of this being legit.

This is a scam twice as more obvious than bitconnect. Don't even think about sending ETH to this ICO.

BTW the countdown timer on their homepage just added 7 more days 2 hours before their scheduled ICO. They are postponing their ICO by a week for the second time for no good reason. I do not understand why they are still sticking to this failed scam, just give up already. At least come back later with a more credible one. Onyx was pathetic and embarrassing even for a scam project.

Good Afternoon Investors,

 

We would like to update you on the changes being made to our ICO per the crypto community. The crypto community requested that we add a signup bonus as well as a bounty referral bonus. Due to these changes we have decided to push our ICO start date to March 2, 2018 at 12:00PM UTC. We are making changes to our website that will be seen in the next few days. The first 1000 registered users will receive 1000 ONYX tokens. The users will have to include their sending/receiving ETH Wallet address they plan on using for the ICO. The signup bonuses will be paid immediately upon the updates being made to our website. The bounty referral will work in a similar fashion. The bounty referrals will be paid out in ETH. You will receive 5% of your referrals total investment at the conclusion of the ICO. Anyone found using multiple accounts will forfeit all signup bonuses as well as the bounty referral bonuses.

 

See you on launch day :)

@memory942 Thanks for continuing support of spreading FUD and putting the word out. Free marketing is always nice. There is now law that states any person involved with ONYX must be mentioned in their linkedin or social media profile. Once again nobody from ONYX ask you to invest in our company. We would appreciate if you would stop spreading FUD on our page or you will be blocked. Thanks and have a great day. As far as teh countdown read our latest post; we are doing what the crypto community requested.

@junforever Thanks, but we don't need a Spanish transalation right now.

@gembria Our team consists of more than 3 members. Several of our members and advisors have asked to remain anonymous as they reside in the United States. In addition, please keep in mind that the Smart Contract will hold all funds. Checkout our contract on GitHub.

@Hestnomes Thanks for the support

@runrightnow Thanks for visiting our page.

I’m gonna invest 1000eth in this on the 2nd March. Although if it’s delayed again I won’t ever be buying anything, delaying it constantly is suspicious so let’s see.

@JohnChanna we have implemented a 25% bounty referral that will be rewarded after the ICO as well as signup bonuses of 1000 ONYX that will be paid to the first 1000 individuals that signup.

Hey, why is your CEO said you are scam and he is not your CEO?

This screenshot from your website and the second screenshot from your CEO ;D


https://gyazo.com/f3a1993dd772d9c6e654f1e7c94e258d


https://gyazo.com/a15f116f3992106b8c1c1a2c4ac6e1b3


So sad, @JohnChanna almost invested 1000 ETH  :D

OH MY GOD ITS TRUE! I can't believe it!!!!
I was just about to send 1000eth in on the ico date but not anymore. This is a total SCAM! They are using someone elses linked in on their site pretending that he's their CEO!

This link shows the site with 'Alex' - url leading to the linked in at the bottom left
https://ibb.co/fsWzDH

This image shows that profile on linked in!
https://ibb.co/h6rS0x

So clearly a scam.. Thank god i checked the team pages today!

Alex Pruitt has been terminated from ONYX for undisclosed reasons.

ROFLCOPTEEEEEEEEEERRRRRRRRRRRRRRRR

CEO was fired? Alright, cool  ;D ;D ;D

How can you fire someone who has never heard of you ?

Will let you know when the other "team members" reply to my requests...


https://gyazo.com/cb443eea66af1725e8f3cc1b11b211d7

You guys are trying to sabotage our project and should go find something better to do with your time.

Possible scenarios:

1. Alex Pruitt was your CEO, and someone higher than the CEO fired him 3 days before your ICO.
2. Alex Pruitt never had ties with you, was never your CEO, you got caught, and removed him from your site.

If it is #1, who is above a CEO and can fire a CEO? The guy with the hat?  How can we have confidence in your ICO if you fired the CEO 3 days before the ICO?

If it is #2, the fact that this is a possibility is why I won't invest in your ICO, and hope others see this too.  

I hope that Alex Pruitt finds a new job.

@DiegoM82 another sign on FUD. Why do you guys keep creating new profiles and spreading FUD? Please go do something better with your time. We understand that some don't like competition, but let the customers decide the best Futures Market themselves. DO things the right one. Have a nice day.

Actually, in several scenarios, a CEO can be fired. One of the scenario being the CEO is 'just an employee' that's hired to be the executively-super-head-manager but didn't quite meet the company's best interest. Hence, fired.

A CEO can be fired by board of directors or founders or shareholders. Given that your 'shares' is not yet started, it is safe to assume that those bodies didn't responsible for this firing incident.

In one perspective, if we shall assume that scenario above is what happened, this whole incident is caused by another, with the first one was the decision to make the identity of your team extremely well hidden, poor decision of keeping essential things that should be revealed sooner.

Try to imagine how this complication can be avoided if you announce his dismissal before his tweet.

However, as the water already under the bridge, I can only imagine two ways of proving the legitimacy of your project to those (you said and I borrow your term) FUD spreader(s).

1. Requesting Mr. Pruitt's clarification, either by lawsuit (by the charge of spreading false accusation of your company a scam by not acknowledging his employment, if such charge exist) or by countering his dispute by publishing his employment contract (I am sure most people here will be satisfied enough with some essential part being censored if your company sees such thing is needed). Surely, an employment contract for a project, even if the project is a crypto-related and specifically requested by the board to be anonymous, will still essential. Thus, you can easily provide the copy (censored or not) from your archive.

2. Revealing the identity of your board of directors or whoever that pull this decision, and ask them to publicly and officially state that it is true that they once employ Mr. Pruitt and fire him few days ago due to some reason.

Both of the options above, although quite troublesome, are effective to prove the legitimacy of your project. I wouldn't want to say that your project is a scam, not if I can, but if neither of what's above can be fulfilled, well... I must admit that Mr. Pruitt's statement is a checkmate.

So you are telling me that your inexperienced team is going to develop an entire exchange in just one month? Impressive.

DigitexFutures is a complete scam. Alex has left our company because they offered him a bigger stake. How do you raise over 6 million USD when Ethereum price is high and then make an announcement that you are having another ICO when the price drops. They claim they bought 100,000 million tokens from a whale. This is a complete fabrication. They sold the investors 100,000 million tokens and now have 17 million USD of your money. The sad part is they don't have a dev team yet, and how can it take 11 months to build a trading platform. Think about it...Also for more proof read out Twitter page on the threats Lee Mayne made us.

They're also going to fly to the moon and cure cancer in that one month.

Even if a single part of what you were saying is true, They made 5.2million in the first ico. Lets also just assume they didn't buy back from the whale too(even though the transactions can be seen on the blockchain), they sold those 100million tokens for around 2 million. Forgive me but how does that make 17million? You can't do basic maths but yet you can create and run an exchange within a month? Ok. You can keep passing this off as 'FUD' but you can create a random figure of 17million dollars from thin air?

A third party ico rater posted this about you(I suggest anyone who enters this thread reads this link before anything else) - https://www.icotokennews.com/icos/onyx/

Are you now going to suggest this is FUD by Digitex too? And that they have hacked into this site and put the scam warnings up? Please let me know, I'm almost bursting with excitement to hear more of your lies.

My final thought to you morons. What has happened here is you have stolen Alex's identity, you have been found out and caught and are now making things up for damage control.

If Digitex was a scam - why would Lee even contact you? He doesn't need to surely if they've made '17million usd' from the sale already. I suggest you read some more books and then you will be able to fabricate a better story than the one you are giving. I have a nephew who is 7 years old who could make up a more credible story within 6 seconds than you can in a month. God bless you.

I have been keeping an open mind, giving Onyx the benefit of the doubt even though it does seem a lot sketchy; but duplicating an idea if it can be brought to market faster is not necessarily a scam.  Yes, I am a Digitex investor, and I also own Onyx tokens now as well.  I am not convinced Digitex isn't a scam either, but that's a whole other discussion and definitely not related to anything you've said above.

This post here definitely seems to cross the line.  I watched the Digitex ICO, and the Reverse Auction closely.  

• During the ICO when ETH was about $1300, they raised $5.2 million with the sale of 700 million tokens.  Not over 6 million.
• I saw the whale purchases.  There was a 10 ETH purchase followed by a 940 ETH purchase after the first one came through clean.  This is consistent with other ICOs that wallet has been involved in.
  https://etherscan.io/tx/0x6d1be99e064b31f3b877b04d65c12cebeeca5e7668183584c7c542ca05365d07
  https://etherscan.io/tx/0xe243a654a09e2c1df036d2f144f1364131dedd92698ddd5b8820546959649fd1
• Those transactions purchased just over 148 million tokens.  Not 100,000 million (100 trillion)
• Going on your assumption the whale was internal, that means the ICO raised $4 million, if the $1.2 million from the whale was fake
• 100 million of those tokens were sold at a price about $0.0197.  Therefore raising about another $2 million
• That means they have raised $6 million, if the whale story was fake.  If the whale story was real, then they paid about $3 million to buy back the tokens, made $2 million on it, and therefore are at $4.2 million in funding raised

So either way it's about $4 million raised, not 17 million.  It's 500 million tokens, not 100 trillion.

To me, a development schedule of 11 months for such a product seems perfectly reasonable. Your one month claim to do such a thing is the real issue here.

You are very bad at maths dear OnyxFutures ;D

The Smart Contract in Gethub has a token supply of 720m, whereas the whitepaper states 600m for sale, 120m for bonuses, and has the stages starting Feb 23rd.  Albeit the contract was uploaded a week before the referral bonus was announced; however it's not yet been updated in Gethub.

The 1b token creation was distributed to 3 wallets; 720m in one, 100m in another, and 180m in a third.  This appears to be somewhat in line with the whitepaper, although one would think the transfer of the 720m from one wallet to another would have been separating the 120m bonus tokens from the 600m ico tokens; but it was a full transfer of all 720m.

• https://etherscan.io/address/0x53e4dcc9205d2ae9cf6525a97d040e3b828d2f19#tokentxns
• https://etherscan.io/token/0xa7f5e7f241051386a7f671da5487f8ab41f0c008?a=0xecfb0e0017f3edde694af3aaff4bafa3478b809a

Boring; except for two things:
The 100m presumably for the team reserve at a 5 year, 20% vesting schedule is the ones sitting in the following wallet:

• https://etherscan.io/address/0x9a1ac704dc69f28dd3f584c44167f22e367ca963

However, there is not a smart contract locking those up per the vesting schedule.  And furthermore, which is the part that I do find a little disturbing, is that is the wallet that the 1000 token sign-up bonus tokens were paid out of.

So it appears as if the bonus tokens were paid out of what should have been locked up in a smart contract controlled vesting schedule and the wallet where the tokens should have come from still has 720m in it, in line with the smart contract on gethub for a hard cap of 720m.  Additionally, the smart contract in gethub shows a soft cap (although it's not used) of 400,000,000 tokens, not 20,000,000 as the white paper suggests.

DYOR

Ok since you are telling us you are not a scam, can you please answer these questions for your investors?

What are your margin requirements?

What is the relationship between Bitcoin futures and the underlying spot market?

What are the contract specifications?

When is the last day of trading in each contract?

What are the spot position limits?

How will the Bitcoin futures daily settlement price be determined?

What is the maximum order size for Bitcoin futures on Onyx?

Will there be a cap on clearing liability for Bitcoin futures?

How do you negate the volatility of the Onyx Token during trading?

Can we see an explanation of each of the features you show in your platform?

Can you give us a walk-through of the platform as it stands now?

Please supply us details of how your "market stabilisers" operate!
Please supply us details of members of your team who have knowledge of Trading Futures or Financial Markets!

Are you following an American-style or European-style options contract? And please expand on why you picked on over the other.

Are your contracts on or off chain?

What jurisdiction will you operate your futures platform from?

ONYX Futures Contract
Contract Tick
Size
Tick
Value
Taker/
maker
fee
Funding
cost
Initial
Margin
Maintenance
Margin
Contract
type
Contract
Duration
Settlement
Time
(Everyday)
BTC/USD $5 1 ONYX 0% 0% 20 ONYX 10 ONYX CFD* 24 Hours 00:00 GMT
ETH/USD $1 1 ONYX 0% 0% 20 ONYX 10 ONYX CFD* 24 Hours 00:00 GMT
BCH/USD $1 1 ONYX 0% 0% 20 ONYX 10 ONYX CFD* 24 Hours 00:00 GMT
DASH/USD $0.5 1 ONYX 0% 0% 20 ONYX 10 ONYX CFD* 24 Hours 00:00 GMT
XMR/USD $0.25 1 ONYX 0% 0% 20 ONYX 10 ONYX CFD* 24 Hours 00:00 GMT
LTC/USD $0.25 1 ONYX 0% 0% 20 ONYX 10 ONYX CFD* 24 Hours 00:00 GMT
XRP/USD $0.25 1 ONYX 0% 0% 20 ONYX 10 ONYX CFD* 24 Hours 00:00 GMT
NEO/USD $0.01 1 ONYX 0% 0% 20 ONYX 10 ONYX CFD* 24 Hours 00:00 GMT
ADA/USD $0.01 1 ONYX 0% 0% 20 ONYX 10 ONYX CFD* 24 Hours 00:00 GMT
XLM/USD $0.01 1 ONYX 0% 0% 20 ONYX 10 ONYX CFD* 24 Hours 00:00 GMT

* Contract for difference
All future contracts are settled after 24 hours.
Settlement Price: The spot price of Coin Market Cap (ww.coinmarketcap.com) at 00:00 GMT
will be used as settlement price. This price will be rounded up or down to nearest $5, $1, $0.50,
$0.25, or $0.01 depending on the contract.

Pages 26-29 of our Whitepaper shows our Futures Contracts. We will be operating in  Seychelles

@JohnChanna go get a life and continue to create fake profiles so you won't be exposed.

Very professional behavior from someone who is expecting millions in investments.  :-*

If dedicating a small part of my day to helping innocent people not get scammed by a bunch of criminals constitutes not having a life then I’m more than happy to not have a life.

In the meantime go find another LinkedIn profile that you can put on your site to pretend you’re actually legit when you’re not.

And here’s that link again - https://www.icotokennews.com/icos/onyx/

Their replying algorithm :

Does the comment point out any suspicious red flags that anyone with common sense would ? -> reply with FUD.


@CaveSpectre
Thanks for the nice analysis on their smart contracts. I was 100% before, and now i am 120% confident this is a scam. Although I would still have had no trouble marking this as a scam without it.

Dear Admin,

Kindly find my post on previous page as I still believe it is the best solution for this problem. It'll be more efficient than blindly replying people with repetitive and classic answers

It’s a scam. Don’t know what else needs to be said really. - https://medium.com/coinmonks/whats-happening-with-onyxfutures-another-ico-scam-2cc03b398863

Yeah looks like game over, scam confirmed.

Their sale contract is posted and the countdown to the end of the token sale is clicking down.
The 720,000,000 tokens sit in that wallet (not the 600,000,000 as should be).
There smart contract isn't there.

https://etherscan.io/address/0xd5a881bbfeb821f83aef3a4e170baaa236312859

I can't even play devil's advocate anymore.

A little advise, you'll need to start building your post history and quality from as early as you can. You'll need merit to rank up. And this kind of post is clearly made in seconds without reading carefully. Read this page, and you'll get the idea of what is currently happening

This project looks promising.  Just finished reading about that project.

During what time your token will be presented on the exchange to participate in the auction?

I really hope that this coin can grow rapidly, cuz I see that this coin is very promising for a long time, after the coin is widely known to general public.