ONX Staking — Privilege Pool
The ONX Privilege Pool, located at OnX.Finance, allows you to stake your ONX and receive a share of platform fees.
When fees are taken from products on the OnX.Finance platform, a portion of these fees are used to market buy ONX and distribute it to the Privilege Pool. For instance, with lending, a portion of the interest collected will be set aside to market buy ONX which will then be distributed to the Privilege Pool. To start the staking rewards, a 1X farming pool is going to be sending ONX to the staking contract every 12 hours.
The user will be able to see their rewards increase in real time on the UI, and can withdraw it at any time with no fee’s.
What is next?
ONX Lending contract has been completed, and is currently undergoing testing. A community update will come by the end of the week with a tutorial and further detailed explanation of aETH lending. The official release will be after the contract has been audited.
The development team is also currently working on the ONX collateral token swap, including LP tokens, yearn tokens, and ETH 2.0 staked tokens. A portion of all fee’s from the exchange will be paid out to ONX LP providers. More details to come.