Hi, Onyx Community!
As the Onyx Protocol now is the Onyx DAO, we will work together with XCN stakers and community members to finalise the Onyx V3 plan. The items are listed below of plans and we will aim to finalise the onchain proposal upon community feedback
Onyxchain & OnyxSwap
Onyxchain will be a Layer 3 protocol launched on top of Base chain. Its goal is to create a native burn mechanism through EIP-1559 as well as create a blockchain with fees denominated in XCN. The chains primary purpose will be to support the Onyx ecosystem and add a native dex into the Layer 3 chain.
MUSD
After feedback from the community, MetaUSD will be called Virtual USD and it will be designed to comply with regulatory standards. This will be a unique name and via a unique ticker, VUSD. Virtual USD will aim to be a compliant and regulated stablecoin that can be issued only through reserve and bond based issuance, thus removing fiat currency backing and instead based on transparent reserves. Reserves will only be based on digital assets that are on the blockchain such as Ethereum, Bitcoin, stablecoin and more. Since Onyx is a DAO, we will aim to partner with a third party company to facilitate this. Onyx would support this via a vault on the Money Markets to generate yield and a subsequent airdrop to XCN stakers as previously announced.
Items from V2 Roadmap to be Added to V3
• RWA Asset Lending
• Isolated Markets
The DAO would like to solicit public comments on this before putting onchain proposals for voting. Once the voting is complete, plans will be finalised and announced.
