Proposal: Budget allocation for current operations: November–January 2024

Governance
1

Hey, dear Onyx Community,

I am ready to continue driving Onyx Protocol to the leading DeFi platform and propose a budget.

Abstract

The Onyx DAO proposes to allocate a budget for operational costs and marketing and promotional development.

Discussion

The Onyx Team did many tasks with the previous budget, successfully overcame challenges, and established new partnerships.

  • Integrated TheGraph into the Onyx app both for History and Governance
  • Added WalletConnect 2.0 support
  • Launched a Zealy campaign
  • Developed and successfully accepted the new Onyx Design and Band Book through on-chain voting
  • Many small changes in the Onyx app
  • Updated documentation
  • Added Turkish language support in the Onyx app
  • Agreed on Strategic Partnership with KriptoBi
  • Listed on Ampleswap DEX and run the XCN/USDT pool on BSC
  • Started the Ambassador programme
  • Listed XCN on the Coinstore and Azbit exchanges
  • Onboarded the MarketMaking.app company
  • Fulfilled XCN exchanges with liquidity
  • Proposed the PEPE integration in the Onyx Protocol

In the next three months, we will pay more attention to developing the Protocol and also level up marketing activities.

Development and Infrastructure support

After establishing the Onyx development, we are ready to work on new features, including new coins and NFTs support; and research other chains to add to the Protocol.

  • Developers ~20,000 USD/month
  • System administrator and security engineer — $6,000 USD/month
  • Infrastructure support. Includes servers, IPFS, blockchain nodes ~10,000 USD/month

Total for 3 months: 108k USD ~150m XCN.

Marketing and Management

The Onyx team has shown its promotional efficiency and aims to continue this path.

  • Community Leader ~25,000/month

  • Head of BD ~5,000/month

  • Head of BD Assistants ~4,000 USD/month

  • Designer ~3,000 USD/month

  • Community managers ~8,000 USD/month

  • Ambassadors ~5,000 USD/month

  • Social promotions and visibility ~3,000 USD/month

  • Publications ~5,000 USD/month

  • Influencers and external AMAs ~5,000 USD/month

  • Marketing campaigns and partnerships ~10,000 USD/month

Total for 3 months: 219k USD ~ 310m XCN.

Additionally, we’ll allocate 200m XCN for team and collaborator bonuses and community initiatives paid in XCN.

Total for marketing and management: 510,000,000 XCN.

Summary

Total is 660m XCN.

This budget is for 3 months—November, December, and January. The team has chosen a short planning period because of an ever-evolving landscape. It will be reviewed quarterly, and the next budget will be proposed before the end of January 2024.

We will pay more attention to developing the Protocol and also level up marketing activities.

We are opening a discussion of the proposal within the community and expect to deploy it in a few days for an official vote.

2 Likes
2

Whats the process of converting XCN to Stables for all these works you mentioned ? you sell them on exchanges

3

Its a lot : ) Ngl But we gonna support you if you will keep working with more energy and make onyx great .

4

I am looking forward to the next 3 months of operation, thankfully it Might likely going to fall into the bull phase, I guess, it would be productive, LG Oxyicians

Let’s keep building

1 Like
5

bull run before the btc halving ?

6

Hi,

Yes, we sell XCN on the market.

Thanks to the “Liquidity” proposal, we hired a market-making company which provides advantages over other alternatives:

  • Sells XCN at a market price or higher, compared to -12% prices offered by others
  • Buys XCN at a lower price
  • Fills order books and provides liquidity to the market
  • Meets the exchanges’ requirements

As a result, there are no price dumps, and it’s at least 5% more profitable than OTC offers we have.

3 Likes
7

Great progress on the marketing and management ,Kudos to the Team for their great effort & transparency

8

This is the reason why you guys ditched LDA Capitals ?

9

Hi,

Yes. The LDA offer comes expensive for Onyx.

2 Likes
10

so i dont know why still people fuds about this lda issue everytime

11

A bull phase, not a bull run :slight_smile:

12

Çünkü ,insanlara bu yapılan açıklama gibi daha önce açıklama yapılmadığından olabilir mi?

Could it be because people have not been given an explanation like this before?

13

English please ? sorry

14

how it is differnt thing / term ?

15

Please encourage more people to vote in votes :saluting_face:

16

This is an appropriate budget allocation as this would contribute greatly to the projects growth

2 Likes
17

Let’s keep soaring higher
2024 seems promising for the Onyx protocol

1 Like
18

asking for bonuses again after no TVL increase and you just got hacked. Go look at the price of this coin. Its pointless for anyone to hold. I’m sure the exchanges will delist ASAP because you are destroying people livelihood. You give crypto a bad name with this rugpull

1 Like
19

Hacking is something what team cant control if the hacker are smart enough . even compound / aave / curve also hacked . the thing is team should learn lessons and move with better attitude

1 Like
20

Hello,

We are working to compensate the losses: The OnyxProtocol experienced an exploit - #5 by alex

2 Likes