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

[JohnChanna]

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

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

[JohnChanna]

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.

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?

[JohnChanna]

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.

[JohnChanna]

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.

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.

[CaveSpectre]

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.

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.

[farore]

The sad part is they don't have a dev team yet, and how can it take 11 months to build a trading platform.

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.

[runrightnow]

You are very bad at maths dear OnyxFutures

[CaveSpectre]

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

[runrightnow]

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]

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.

[farore]

@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. 

[JohnChanna]

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/

[memory942]

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.

[Miiike]

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

[JohnChanna]

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

[runrightnow]

Yeah looks like game over, scam confirmed.

[CaveSpectre]

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.

[Miiike]

I am interested in this project as well after reading the available information on page first. Total maximum supply also is very reasonable if all the tokens get sold.

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

[chesthinkcasga]

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

[knowextiti]

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