Introduction

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

Last modified 1yr ago