ONYXPrice

(ONYX)

Onyxcoin (XCN) is a Web3 project centered around the Onyx Protocol, a decentralized finance platform built on the Ethereum blockchain. The XCN token itself is an ERC-20 asset designed to serve as the primary utility, gas, and governance token within the Onyx ecosystem. Onyxcoin was previously known as Chain. The Onyx Protocol is an infrastructure that aims to create a more efficient and interconnected financial ecosystem by leveraging cryptographic ledgers. It focuses on offering secure and efficient solutions for lending and borrowing digital assets, supporting a variety of asset types including Ether, ERC-20, ERC-721, and ERC-1155 tokens through decentralized smart contracts. Technologically, Onyx is described as a modular Layer 3 blockchain designed for financial-grade applications, prioritizing speed, scalability, and security. It utilizes Arbitrum Orbit, and leverages Coinbase's Base Layer 2 for settlement, enhancing scalability while maintaining Ethereum's security. Within the Onyx ecosystem, XCN token holders can actively participate in the project's governance through the Onyx Decentralized Autonomous Organization (DAO), voting on protocol upgrades and community initiatives. The token also provides practical utility such as covering gas fees, offering discounts on premium services, and enabling node deployment. The total supply of XCN is fixed at 48,470,523,779 tokens. Key features of the ecosystem include Onyx AI, a blockchain agent for autonomous on-chain tasks, and Superbridge, a cross-chain protocol for asset transfers. It is important to distinguish Onyxcoin (XCN) from JPMorgan Chase & Co.'s private enterprise blockchain platform, also named Onyx, which is geared towards wholesale financial services. Learn more

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