Onyx Protocol will launch the v2 contracts for its NFT and crypto money markets with the passage of OIP-27.
For clarity purposes, there is no change to the XCN token smart contract, nor any action required for XCN stakers, holders, and exchanges.
Onyx Protocol v2 will be the re-launch of the v1 markets, except that there will only be a few digital assets to start.
CryptoPunks
BAYC
MAYC
ETH
USDC
USDT
DAI
WBTC
There will be no changes to the XCN staking and governance modules or smart contracts. All of the v2 contracts will be controlled by governance and the DAO once deployed on the Ethereum blockchain.
The Onyx Protocol v2 liquidity incentives will be adjusted to reduce protocol reward inflation so that no Onyx NFT Money Market incentive APY is greater than 50% and other markets will be no greater than 75%. The actual APY with the native assets for the crypto markets will continue to be based on utilization curves. The v2 market launches will also ensure no rounding errors as previously exploited in the v1 markets.
Onyx DAO will vote to begin winding down the rewards and functionality of the v1 markets. The moment that is complete, the v2 markets will launch. XCN staking and Uniswap farming remain unaffected.