Can the community get an explanation on why we kept these certain; specific assets.
From what I have seen over the year of following the onyx market, only 1-3 people have used
CryptoPunks
BAYC
MAYC
Are we making the most money off of these NFTs? I would like to know the onyx income of all of the following assets that were kept in the V2 launch. (Please provide the year to date revenue numbers)
CryptoPunks
BAYC
MAYC
ETH
USDC
USDT
DAI
WBTC
To summarize,
If you have any background information on the protocol in general, you know why these 3 NFTs are being kept on the ONYX protocol. There is a humongous conflict of interest going on here.
@alex tell us why we kept these. I want to see numbers that justify the reason on keeping these assets. And I don’t want to hear “because they are NFTs”. Does the income in the protocol justify keeping them?
There are many other NFTs we can add. I know the reason why they were kept. And if you understand the history of the project, you know the answer too. It’s time we actually become decentralized.
The whole innovative solution of protocol and following the white papers mission is this is a NFT-based lending protocol that is different from the competition. Onyx currently has the 3 most liquid and valuable NFTs available in its money market.
While usage has been low, the available number of users who can use these assets is extremely high. There is no cap on users using it. Indeed, utilization is not optimal even with high interest rates. Therefore, these floating rates will be capped to much lower percentages in v2.
The protocol generates income primarily when users place NFTs into the protocol and borrow other assets. That’s how the protocol creates optimal revenue. The protocol also earns revenue from overall borrowing of other markets. The other assets were chosen due to focusing the concentration of liquidity and revenue in highly liquid assets so that a recovery plan can be more ascertainable.
You keep using multiple alts throughout telegram and the forum to shout “conflict of interest”. Indeed the original founder has supplied these coins into the protocol, however, he has not collected any rewards, and from my understanding is he plans to burn the rewards he earned and withdraw his assets from the protocol. There is no “conflict of interest”. It would not be practical at this time to add other NFTs as they are not as liquid and lucrative. If the community suggests adding other NFTs and there is enough support the DAO will support it without any doubt.
There will not be any instance where we remove these assets. It would not make any sense too from a logical business decision. I am open to adding more NFTs based on the demand and needs of the community.
