OnX Finance
  • What is OnX Finance?
  • Getting Started
    • Litepaper
      • Litepaper (English)
      • Litepaper (Korean)
    • Token Distribution
    • Token Utility
    • Voting and Gauge Weights
    • Tokens, Bridge & Contract address
    • OnX Liquidity Pools
  • Products
    • OnX Staking
    • OnX Farming
      • Ankr & Liquid Staking
      • SushiSwap Liquidity Pool Tokens
      • Farming Tutorial
    • OnX Lending
    • OnX onStable
      • onETH
      • onDOT
      • onSynthetics (legacy)
    • OnX Vaults
    • OnX Insurance Fund
    • Governance
  • Audits and Contracts
    • Token and Farming Contract Audit
    • onSynthetics Audit
    • Lending Audit
    • Alpha Audit
    • Official Contracts
  • Promotions
    • NFT Series 0 Farm for OnX Stakers
    • NFT Alliance Series
  • Frequently Asked Questions (FAQ)
  • Articles
    • Benefits of using OnX Finance Lending
    • Evolution to onSynthetics v2
    • OnX Alpha Vaults
      • OnX Alpha Vaults (Korean)
      • OnX Alpha Vaults (Chinese)
    • 🕳️Introducing the OnX Synthetic Assets Platform (onSynthetics)
    • ONX Staking — Privilege Pool
    • OnX Lending Platform Update
    • Farming Update
    • How to get aETH
    • Staking tutorial for OnX.finance
    • OnX.Finance: Announcing the first ONX Airdrop for ANKR Holders
    • 🕳️OnX Finance: the first DeFi platform for collateralized tokens
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  1. Getting Started

Token Utility

There are two main tokens in OnX Finance platform: OnX token (ONX) and onStable token (ONS)

OnX token utility:

  • Governance token of OnX Finance, excluding onStable

  • Required to access future premium products (e.g. margin lending)

  • Vote on OnX Finance's platform fee redistribution

ONS token utility:

  • Governance token of onStable

  • Medium of payment of pay minting/redeeming fees of onETH (0.45% fee)

  • Incentivize usage of onETH (e.g. provide liquidity, attract other users likely to consider using onETH through farming rewards)

onETH is an ETH stablecoin backed by ETH liquid staking tokens. Its main utility is to serve as an alternative source of financing to ETH for lending (e.g. borrow onETH instead of ETH) and liquidity pools.

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Last updated 3 years ago

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