# 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.