Recovery Proposal 5: Onyx v2 Launch targeting the primary markets

Hi Onyx Community,

This proposition maintains the staking rates to incentivize XCN stakers who govern and control the protocol and DAO.

Launching the Onyx v2 markets will redeploy the NFT money market but focus on risk controls on assets and support. The 3 NFTs will continue to be supported, and the only lending markets that will be available will be ETH, WBTC, USDC, DAI, and USDT. As mentioned, a snapshot will be taken as the v1 winds down to capture user balances and create an ongoing recovery plan. These high-revenue building assets can help with the ongoing recovery plan.

The plan of action would be as follows.

  1. Vote to close the v1 markets on the Ethereum blockchain and capture the current suppliers’ balances;

  2. Launch the v2 markets with CryptoPunks, BAYC, MAYC, ETH, WBTC, USDT, USDC, and DAI markets;

  3. Implement a fix on the rounding errors for all markets from the v1 exploit;

  4. After the launch of v2, create a streaming recovery plan to help the v1 community.


Hi, so what would be the recovery plan consist of and how would it be done?

It may be something like using v2 revenue, LDA, or a combination.
The idea is not to argue on this question now.

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How can we vote on this without details on what the recovery plan will be?
As 20% of the deposits are gone. I would like to propose to recover 10% via selling from the treasury and the other 10% via vested XCN tokens.

I see so how and when will it be confirmed?

No details regarding the staking apr ?

Staking apr will be same as of now Most probably .

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thats good . and what about lda funds ?

It’s a great offer and also one of the most likely to be accepted. The community should review these proposals and vote

The team definitely thinks the best and will do their best

If you do not vote, the process will take longer. We must trust the team and evaluate and vote on the proposals. Everyone’s goal is to help shape Onyx.

I’m sure more details will be released in due course. This proposal looks very good for the project

I’m sure this is being worked on. The team is more experienced and we have no doubt they will do their best.

Instead of being prejudiced from the beginning, we should trust the team. I’m sure they weighed up all the details.

I think it will be so. All details cannot be published at once, there will definitely be additions.

The fact that the team is more experienced than the community allows us to be more advantageous in the search for solutions. They will do their best

true and we need now urgent action on this and make the user whole

I hope the plan of actions would be followed strictly

Absolutely with great decision

let’s vote now