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Author Topic: [ANN]🔥🔥🔥 INTRODUCING 🖤 ONYX USD 💙 ONYX S&P 500 ❤️ ONYX S&P 500 SHORT🔥🔥🔥  (Read 65 times)
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Onyx Investments
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October 03, 2019, 01:32:20 AM
Last edit: December 11, 2019, 08:18:24 PM by Onyx Investments
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What is Onyx?

Onyx is a token provider that provides ETF-like, ERC-20 tokens to the crypto masses in order to invest in, or short, crypto or non-crypto assets such as the S&P 500, Gold, Bitcoin, or Nasdaq 100. We plan on being just like Vanguard, iShares, or ProShares of the crypto world.



Our Mission

Currently, Defi can trade and hold stable money, borrow and lend that money, gamble it, invest it, have futures, options, and even leveraged trades. But all of that is meaningless if you can't do it to real world assets and you can only do it to tokens. Our mission is to fill the final missing piece of DeFi, and enable the community to trade and hold real world financial indices and commodities. Finally, you can have your entire financial life completely decentralized on the blockchain. Buy and hold the S&P 500, or short it, or convert it to bonds or stable money, all on the blockchain, completely decentralized. Never have a bank or broker ever hold your wealth ever again.



Onyx USD
Our flagship token, Onyx USD is an ERC-20 token whos price is pegged to the US Dollar.



Onyx S&P 500
The Onyx S&P 500 is a token whos price is pegged to the S&P 500 index.



Onyx S&P 500 Short
The Onyx S&P 500 Short is a token whos price is pegged to the inverse of the S&P 500 index.




How to buy?
      

To buy any of our tokens, check out the list of exchanges they are trading on.



How does it work?

Onyx tokens are traded on regular crypto exchanges but their price is pegged to the underlining asset they represent by price arbitrage opportunities made available by the token’s contract. If the price of the token trading on exchanges is too low, arbitragers can buy the discounted token on the exchange, and sell it to the contract for profit, decreasing the supply and increasing the price. This will continue until the price of the token is equal to the underlying asset. If the price of the token is too high, arbitragers can buy the token from the contract and sell it on the exchange for the elevated price for a profit, increasing the supply and decreasing the price. This will bring the price down to the correct level.



What if I have some questions?

Write a comment and we'll get back to you!


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