OnX Lending Platform Update

  1. Borrowing Ethereum using aETH as collateral
    Borrowers can lock aETH as collateral on the platform and earn ONX rewards while also borrowing Ethereum. Up to 75% of the value of the aETH can be borrowed in ETH which can then be used to secure more aETH (or utilized in other ways). The borrower maintains the accrued interest and keeps the lending ratio below 90% to help avoid liquidation.
  2. Lending Ethereum for interest
    Lenders can add their ETH to the platform and earn ONX rewards as well as interest on their lent ETH. The loans will be collateralized with aETH as security against any possible liquidations. The earned APY from lending will be variable with demand to ensure competitive rates.
  3. Interest, Rewards, and platform fees
    2/3rds of the interest generated will be paid to ETH lenders with the other 1/3rd going towards platform maintenance and a buyback and burn of ONX tokens.
    ETH Lenders will receive an additional 7X farming pool for staking their Ethereum as reward for providing the initial liquidity to the platform. Users collateralizing aETH will also receive a 7X farming pool for ONX rewards. Both of these parameters are subject to governance voting from ONX holders.

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