Onyx DAO Token Facility Update

Updates
1

As of December 12, 2023, the Onyx DAO was notified that it no longer has access to the previously announced $40 million token decision due to business reasons from our counter party.

Onyx DAO is notifying our community of such news to keep the community updated.

Onyx DAO, to date, has not itself utilized this this token facility due to the economic reality of the utilization causing sell pressure into the market and at a discount to spot.

Onyx DAO continues to commit to the protocol without the token facility and this does not hinder any of its plans.

2 Likes
2

Thanks for the prompt update @alex

3

you mean lda token facility ?

4

Hey,

Yes, it’s about earlier agreement with LDA facility. It’s not available anymore.

Still, the reimbursement plan Recovery Proposal 5: Onyx v2 Launch targeting the primary markets is

2 Likes
5

ok great . thanx for making it transparent

6

how did you decided to use LDA during recovery plan ?

7

Ok. Thanx for that

8

Okay, Have took it into account🙂

9

Whats left in the treasury?

10

i believe @alex would be happy to share detail on it

11

anyway it was never a great deal . we understood it later .

12

Great , thanks for the transparency!

13

Thank you for not affecting the plans and for keeping the community informed.

14

In this way, the possibility of selling pressure is eliminated and I think it will definitely have a positive impact on the price.

15

yes that’s what he means buddy

16

yes that’s exactly what he means and the deal no longer exists

17

It was just an offer man and the community rejected it

18

A proposal was submitted to the community and the community did not approve it, other proposals were published

19

They are working hard to launch their onyx market. I’m sure they will give more details, let’s give it some time.

20

They will definitely share more details with us after the work is completed.