🕳️OnX Finance: the first DeFi platform for collateralized tokens

✍ Motivation

Over the last year we have seen tremendous growth on Ethereum for projects within the decentralized finance ecosystem, including Uniswap, Sushiswap, Aave, Curve, Compound, Yearn, and many others. The OnX team believes there is an important piece of the puzzle missing on top of the existing foundation: which is a DeFi hub specifically for collateralized tokens.

💱Bond Tokens & ankrETH

With the launch of ETH 2.0 around the corner, we have come across an evolutionary step in the direction towards Bond assets — Stkr (stkr.io).

🚁ONX Airdrop to ANKR Holders

With the support of major DeFi projects like Curve, we believe Stkr’s aETH will be the leader in ETH 2.0 staking as the go-to bond token. To encourage this further, we are starting with an exchange airdrop to ANKR holders on supporting major exchanges.

🌾 Yield Farming as Token Distribution

Majority (93%) of the token supply will be distributed over the next year through yield farming pools. The release schedule will be based on the # of ONX per block until the maximum supply of slightly less than 10,000,000 ONX is reached. The following pools are initially planned for distribution:

  1. ankrETH → 2X
  2. ankrETH/ETH LP on Uniswap → 7X
  3. ankrETH/USDC LP on Uniswap → 7X
  4. ONX/ETH LP on Uniswap → 10X
  5. Curve ankrETH → TBD

💳Lending

aETH will be the first Bond lending token on the OnX finance protocol. This will be the first of many as the DeFi collateralized token ecosystem matures. Bonds, LP tokens, and any other high liquidity collateral tokens will be added to OnX lending and borrowing.

💱Collateralized-Token Swap (CTS)

OnX will be creating one of the first collateral swaps on the Ethereum network. By providing incentive and opportunity to directly swap collateralized tokens such as LPs and Bonds. This will help provide arbitrage opportunities while also allowing the underlying assets to be kept working.

💎ONX Token Benefits

The $ONX token will be an integral part of the entire finance protocol. The token will be used as follows:

  1. To receive discounts on the OnX platform
  2. To receive a portion of trading fee’s from the CTS
  3. More benefits as services and products are added to the protocol
  4. Governance abilities — more information to come
  • 1.75 % Reserved for Liquidity and Marketing
  • 1.00% Reserve for treasury — timelocked
  • 93.25% reserved for distribution via yield farming
    * 2% of every harvest for insurance fund
    * 5% of every harvest for treasury

📅 Release schedule

Exchange airdrop snapshot:

📑Official Contracts

ONX Token Contract: https://etherscan.io/address/0xe0ad1806fd3e7edf6ff52fdb822432e847411033

📱 Social Media

Website: https://onx.finance/