What Is Onx?
Onx Finance is a yield aggregator hub focused on bringing utility to Internet Bonds1 in DeFi by automating and simplifying available yield farming strategies. They believe that Internet Bonds are set to become one of the main pillars of the up-a Finance adds the missing link on top of the existing DeFi foundation: a platform specifically targeting collateralized tokens, such as LP tokens (Uniswap, Sushiswap), yield earning tokens (YFI) and the emerging bond tokens asset class (Liquid staking tokens like ankrETH and stETH) will be the first project to build a DeFi platform specifically targeting collateralized tokens
Onx Storage Key Points
|Circulating Supply||10,000,000 ONX|
|Source Code||Click Here To View Source Code|
|Explorers||Click Here To View Explorers|
|Twitter Page||Click Here To Visit Twitter Group|
|Whitepaper||Click Here To View|
|Official Project Website||Click Here To Visit Project Website|
Onx Coin Most new DeFi projects provide farming rewards to incentivize usage on their platform, as well as farming rewards to provide liquidity to their token in decentralized exchanges. Farming rewards to provide liquidity on new altcoins must usually be high enough to compensate for the risk of impermanent loss. As such, one common yield farming strategy is to use a new DeFi platform (invest ETH in a vault), receive farming rewards and then reinvest those farming rewards in a liquidity pool
Bond Staking Rewards
Staking rewards from Internet Bonds depend on the amount of staked tokens from validators in a Proofof-Stake network. The amount of stake tokens can only increase for ETH2 until phase 1.5, but it can either increase or decrease most of the time for other Proofof-Stake networks. The market conditions in DeFi may have some influence over the amount staked, but it fluctuates less than staked tokens from validators, who usually have a longer investment horizon and focus on harvesting yield from the Proof-of-Stake network. As a result, staking rewards.
Onx Coin Any user has the possibility to provide liquidity to a decentralized exchange (DEX). In return, the liquidity provider receives a Liquidity Pool token (LP token), representing the liquidity deposited in the DEX’s smart contract operating as an automated market market (AMM) for the DEX. The liquidity provider also receives the trading fees generated by the liquidity pool (generally 0.30%; depends on each DEX and token pairs).
OnX Finance Platform OnX
Lending platform provides lending services for collateralized tokens, starting with aETHc and ETH. By using aETHc as collateral to borrow ETH, users of the lending platform can earn interest and rewards for both providing ETH to lend as well as collateralizing their aETHc. Among the immediate benefits of this process is the opportunity for aETHc stakers to take advantage of an increased position through a relatively safe process with a low chance of liquidation due to the intertwined nature of aETHc and ETH. In addition, ETH holders will be able to earn a competitive APY on their assets.
OnX alpha vaults is the third and final core pillar of the Finance product offering complementing Lending and onSynthetics. The aim of alpha ETH2 vaults is to provide compounded APY on ETH2 bond automated passive income strategies. The benefit for vault capital providers would be to split the gas fees cost related to reinvesting the periodical rewards across all vault capital providers, as well as automate the passive income strategy for greater convenience.
Onx alpha vaults should be perceived as ETH2 automated asset management investment modules that can be used to diversify across a wider range of ETH2 bond passive income strategies to mitigate liquidity risk in one single liquidity pool. Furthermore, as the impermanent loss of alpha ETH2 vault strategies will be low, the objective would be to consider OnX alpha vault tokens as collateral to enable using lending (borrowing ETH).