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Gitbook for documents. Interesting method. Good idea, i`ll try too  :) What`s about roadmap? Not found it

I am currently farming. Provided OnX/ETH LP. It has been going great, but APY is currently going down as more users are farming. About roadmap, the project itself is only a two weeks old and they want to release the roadmap after this holiday period. Farming is enabled already and also they have concluded their OnX airdrop for ANKR holders on big exchanges just 4 days ago.

Well DeFi is on fire in the last couple of months and Ive been watching all of them closely..
It says there will be no sales for ONX, we need to follow price movements then.

Well, OnX airdrop for ANKR will be from existing tokens. But farmers are dumping their staking tokens now which is understandable also marketing stuff has not started yet fully hence the price dump for now. https://www.dextools.io/app/uniswap/pair-explorer/0x62f22a47e5d2f8b71cc44fd85863753618312f67

https://i.imgur.com/GlnqSXt.png

OnX Finance currently only have 'Farming'. Everything else is 'Coming Soon'.
In my eyes this is pretty Ann + pretty site and ZERO real value, just some people trying to make quick bucks around the DeFi hype.

There are a lot of projects that are similar, but none of them focus on LP tokens and Bond tokens like aETH. Projects like Aave, Curve, Compound and Yearn aren't too different from this one, but each focus on different aspects of decentralized finance. If a token has no utility other than being farmed and sold at almost no price by farmers sounds worthless tbh as it can be reflected in the current price. The value of OnX are in lending, collateralized token vaults, Automated Asset Management, Automated market maker, insurance which are very unique concept for a DeFi project though.

Roadmap and along with their first priority of launching lending platform will be released in the coming weeks hopefully. It's not just empty promise from my point of view. Those who are farming from the start ae getting good APY, also bear mind that it is also being helped more by the multiplier weight of each farming pool of farmers. Happy farming!  :)

ONX.finance has a pretty comfortable application for staking and farming. Also there is a staking tutorial for OnX.finance :)

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.

https://i.imgur.com/c6JkO49.png
Announcement link: https://www.gate.io/en/article/18765

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

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

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!

https://i.imgur.com/eV2fiXh.jpg


Happy Farming!

https://media.tenor.com/images/c219dc259012d0280e536e02097f43d3/tenor.gif

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.

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.  :)

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!  8)

"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

https://i.imgur.com/qmHG9fK.jpg

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.  :)

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!

https://i.imgur.com/jN7Mqcg.jpg

Meanwhile let's take a look at OnX price as of posting this,

https://i.imgur.com/w0xGjAZ.jpg

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

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

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?

https://i.imgur.com/UpgaFMl.png

The price is quite good, although it is still far below the price when it was first listed on the exchange, yeah based what I see on CMC. They indeed in early stage since most of their service is still stated on their website as coming soon. It just over $24 Million TVL that they have is interesting thing to see.

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%?

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.

Reference: https://onxfinance.medium.com/onx-staking-privilege-pool-6e9dfb0b5c22

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

Reference: https://onxfinance.gitbook.io/onx-finance/getting-started/tokenomics

FYI, We are on the tail end of this bonus month distribution curve!

https://i.imgur.com/ZWTzl5Y.png

Timer: https://etherscan.io/block/countdown/11692800

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 :)

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!


https://i.imgur.com/zTN0Omo.jpg

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

https://i.imgur.com/4ND7Sij.png

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.

Quick Audits Update after getting back from the Beosin Audit farm--->


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.

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!

I just asked it to Mike and here's the reply he gave which makes a lot of sense when you think about it.

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!

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.

https://i.imgur.com/VN7mWEm.jpg

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/onsynthetics
This 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.

https://i.imgur.com/Vafbugy.jpg

Thank you for the two articles that you have provided, it really helped me understand about OnS, and increased my understanding of OnE and OnB. The total supply of OnS token is very small, only 100,000 OnS and there will be a token burning program, this is very interesting. looks like the sale of OnS tokens will be short, and only 5000 ONS will be sold

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/

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

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.

https://i.imgur.com/bMJzKQH.png

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

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 ;)