XCN
XCN is used to pay for services within the Onyx Protocol ecosystem, such as transaction fees and platform access.
Tags:Cryptocurrencies ETH TOKENCoin ETH tokenOnyxcoin (XCN) is a decentralized digital asset that serves as the governance and utility token for the Onyx Protocol. This protocol is a decentralized platform that facilitates peer-to-peer lending and borrowing of various digital assets, including non-fungible tokens (NFTs).
Key Features:
Decentralized Governance: XCN holders have voting rights on the platform’s development and decision-making processes.
Utility Token: XCN is used to pay for services within the Onyx Protocol ecosystem, such as transaction fees and platform access.
Staking: XCN holders can stake their tokens to earn rewards and participate in network security.
Peer-to-Peer Lending: The Onyx Protocol, powered by XCN, enables users to lend and borrow digital assets directly from each other, bypassing traditional financial intermediaries.
How Onyxcoin Works:
Token Creation: Users can create tokens representing various assets on the Onyx platform.
Lending and Borrowing: Token holders can lend their assets to others in exchange for interest, while borrowers can obtain loans against their collateral.
XCN Utility: XCN is used to pay transaction fees and access platform services.
Governance: XCN holders participate in the platform’s governance by voting on proposals.
Benefits of Onyxcoin:
Decentralization: Removes intermediaries, offering greater control and transparency.
Financial Inclusion: Provides access to financial services for those traditionally excluded.
Diverse Asset Support: Allows for lending and borrowing of various digital assets, including NFTs.
XCN | |
Total supply: | 48,402,437,326 XCN |
Contracts: Ethereum
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0xA2cd3D43c775978A96BdBf12d733D5A1ED94fb18 |
X: | @OnyxProtocol |
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Relevant Navigation
Market Volatility: The DeFi market is highly volatile, which can impact the performance of Harvest. Smart Contract Risks: As with any DeFi platform, there's a risk of vulnerabilities in smart contracts. Competition: The DeFi space is competitive, with numerous yield farming platforms available. Regulatory Uncertainty: The regulatory environment for DeFi is evolving, which could impact Harvest.
Pegging mechanism is based on the ‘NAV of 1’ policy (“Net Asset Value”), i.e. market value of assets equals the amount of OVNs in circulation. This is achieved by Conservative risk management aiming to avoid daily losses by building a diversified portfolio of highly conservative DeFi Investments Daily distribution of profits in the form of aidrops to OVN holders