🕳️Introducing the OnX Synthetic Assets Platform (onSynthetics)

💵 Presale onS + Minting onE

⛏ onS Swap & Mining

All the swapped assets for onS will be sent into the Vault. onS will be used for bond interest issuance, and aETH will be used for the liquidation of onB and onE.

Mining onE

There will be a 3-day minting period which will generate 100 onE to help early adopters and assist with initial liquidity of onE. The onE will be given out to the following pools:
5X: aETH
1X: ETH
1X: DAI
1X: ONX
1X: FRAX
1X: USDC

🏛 onVault

  1. Dividends (onS)
    One incentivization for the vault will be for onS holders — as dividends. aETH is an interest bearing staking certificate for ETH2.0. All of the extra aETH in the vault will be used to reward onS holders. The dividend time and size will be ultimately decided by the community via governance.
  2. Bonds (onB)
    When the price of onE stays below 1ETH for more than three hours, onE will start to be swapped into onB. The onB holders can gain onS from the vault as interests by staking onB. 1% of the interest pool will be distributed per day and the interest will be calculated on a daily basis.
    When the price of onE increases above 1 ETH, onB will start to be swapped into onE and the interest will stop bearing. If onE stays below 1 ETH for 30 days, onB liquidation will be switched on with the following rules: onB holders enjoy the privilege to liquidate the vault security deposit in full first. However, if the security deposit is not enough, the system will swap for onB certificates.
  3. Liquidation (onE)
    onE liquidation will be switched on after the liquidation of onB ends. Holders can inject their onE into the burning pool and automatically get the proportionate aETH in the security deposit from the Vault as liquidation compensation via the following formula:
    aETH = (onE injected / onE in circulation) * total aETH in the Vault

📅Schedule

onS reserve vault sale with aETH:
TBD —estimated to launch end of this week — pending Audit

🌐 Social

Website: https://onx.finance/

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