> For the complete documentation index, see [llms.txt](https://onyxmoney.gitbook.io/onyx-cronos-dao/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://onyxmoney.gitbook.io/onyx-cronos-dao/introduction.md).

# Introduction

welcome to Onyx Cronos network's DAO, pegged to the price of $CRO

![](https://2511923002-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F4QtImZ4KvlvFXXGGdN5K%2Fuploads%2FdF9AvTvX4kYHZ47wzr5t%2Fpng-transparent-crystal-healing-drawing-mineral-art-floating-stones-watercolor-painting-miscellaneous-purple-removebg-preview-modified-removebg-preview.png?alt=media\&token=b099e110-97b2-4959-b20d-08a6a8ba19fa)

\
Onyx Finance is an algorithmic stable coin protocol pegged 1:1 to CRO on Cronos chain. Much like Basis Cash our protocol uses three tokens (ONYX, OSHARE, OBOND) to incentivize a stable 1:1 peg to CRO. 

The protocol's underlying mechanism dynamically adjusts ONYX's supply, pushing its price up or down relative to the price CRO.

## The Big Picture

The $ONYX algorithmic token serves as the backbone of a rapidly growing ecosystem aimed towards bringing liquidity and new use cases to the Cronos network.\
\
The protocol's underlying mechanism dynamically adjusts $ONYX supply, pushing its price up or down relative to the price of $CRO.

Inspired by the original idea behind Tomb Finance as well as its predecessors (Basis, bDollar and Soup), Onyx.Money is a multi-token protocol which consists of the following three tokens:

\
**-Onyx ($ONYX)**\
**-Onyx Shares ($OSHARE)**\
**-Onyx Bonds ($OBOND)**

One of the primary shortcomings of past algorithmic tokens has been a lack of use cases, leaving no good reason for users to use or hold them. In order to successfully maintain the peg in the long-run, the Onyx Money team will maintain a focus on innovation around enhanced functionality and use cases.

##