[ANN][ICO] ONYX Futures Exchange - Commission-Free Crypto Futures

[Onyx Futures]

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

[_ATOmix_]

Hello,

Can you tell us more about your team?

[Miiike]

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?

[Onyx Futures]

Decentralization is key to the success of this project.

[Onyx Futures]

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.

[Miiike]

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?

[Ted Kin]

Russian and Polish translation reserved.

[Onyx Futures]

@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.

[Onyx Futures]

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

[Miiike]

@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.

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?

[Onyx Futures]

@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

[Onyx Futures]

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

[Onyx Futures]

@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.

[Miiike]

@Miiike in order to trade on our exchange, traders will need ONYX tokens. All profits and losses will be denominated in ONYX tokens..
--snip--

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?

[Onyx Futures]

@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.

[Miiike]

@Miiike You won't be able to trade pairs such as cryptocurrency-cryptocurrency. Let me first start by explaining a futures market:
--snip--

. . . . .

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.

[Onyx Futures]

@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.

[runrightnow]

@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!!!

[JohnChanna]

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

[Onyx Futures]

@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!!!!!.