Experience seamless earning with Onyx (XCN) staking pools on Earn Network. Get started quickly with our user-friendly step-by-step guide.

The partnership with Earn Network will see Onyx launch dedicated decentralized staking pools for XCN on BNB Smart Chain. Each user will have the opportunity to stake their XCN tokens using two formal staking processes, Flexible or Locked.

Flexible Staking describes a staking pool in which users can deposit and withdraw tokens at any time without any restrictions or lock-up periods. It offers flexibility and liquidity, with rewards distributed on a regular basis. Users can choose to compound their earnings by leaving their rewards in the pool or withdraw them.

Locked staking, also known as fixed-term or time-locked staking, involves staking tokens for a specific lock-up period. Onyx will offer two options here: 15-day and 30-day set staking periods. Users cannot withdraw their staked tokens until the lock-up period expires. In return for committing their tokens for a longer duration, participants typically receive higher staking rewards compared to flexible staking.

All of the ETH fees collected for bridging XCN from ERC20 to BEP20 will be refunded as part of the ongoing gas refund initiative. Onyx recently published an in-depth bridging article and will presently share further details regarding the staking process via Earn Network.

Onyx’s partnership with MyCointainer will also see a dedicated profile dashboard launched. This will serve as a central hub for all Onyx-related products on the platform. Other products under development include wallet integration, facilitating deposits and withdrawals of XCN processed on BNB Smart Chain, and a staking mechanism based on smart contracts operated by Earn. This will enable XCN rewards on the platform for thousands of potential users.

Onyx also intends to introduce ‘Buy XCN with card’ functionality, providing a MasterCard and Visa onramp for XCN, an XCN trading service offering pairs in EUR, USDT, and BTC, and extensive marketing activities. Keep an eye on the Onyx’s socials for the latest updates!

About Onyx Protocol

Onyx Protocol represents a decentralized liquidity protocol that supports multiple token types with aggregated and unified capital access. This protocol solves the capital efficiency trilemma and eliminates the single points of failure inherent in centralized protocols. Unlike other lending protocols, Onyx Protocol offers transparency and trustless lending, making it a better choice for digital asset holders to access and earn liquidity.

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About Earn Network 

Earn Network provides smart contract infrastructure to connect liquidity providers and pool creators in a completely non-custodial manner.

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About MyCointainer

MyCointainer’s goal is to enable easy access to various rewarding crypto mechanisms for all. They want everyone to equally benefit from a changing financial landscape and speed up global crypto adoption.

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SOURCE: ONYX BLOG

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The deal consists of acquiring the Measurable Data Token (MDT), the native digital utility token powering a decentralized data ecosystem, as well as its blockchain applications RewardMe and MeFi.

Investment Deals

The MDT ecosystem aims to empower data rewards for individual users while accelerating blockchain adoption in everyday life through various innovations.

Chain will be acquiring RewardMe, a cashback app. Whereby users get rewards automatically in cryptocurrencies and digital gift cards for their daily purchases. With this acquisition, Chain will launch Chain Rewards. Its vision is to be a flagship consumer-facing crypto super app. Connecting individual users and merchants across the globe through the Chain ecosystem. The app will also rebrand as Chain Rewards in the coming months and the utility token will become XCN.

Chain will also be acquiring MeFi, a blockchain oracle that bridges capital market data with DeFi, to bring traditional finance data into oracle-power data streams. This will power ChainFi, Chain’s oracle system designed for Sequence clients to get access to trustless data and will have XCN become its native utility token.

Over 200,000 RewardMe users will now become part of the Chain ecosystem. An additional 30,000+ on-chain MDT holders on Ethereum and BNB Chain, as well as tens of thousands of off-chain MDT exchange users, will become XCN holders.

With this acquisition, there will be a sunset of the Measurable Data Token (MDT) which will be burned and swapped for the XCN token. MDT token holders will receive the benefit of the swap. It will also expect to receive a $0.08 MDT token value for the swap. Furthermore, the details of the swap discussing with the relevant parties the swap intends to occur in the next few weeks.

The structure of the swap will be for every one (1) MDT token. The user will receive $0.08 of XCN based on a fourteen-day time-weighted average price (TWAP). Fifty (50) percent of the swap, which represents $0.04, will be provided immediately upon the swap. In addition, the remaining $0.04 is to distribute to participating MDT holders via an airdrop. Nevertheless, over 4 quarters ($0.01 per quarter based on a TWAP for each release).

“We are anxious to see our product transform and merge with Chain’s full suite of services. We believe that joining the Chain ecosystem will continue our mission of accelerating blockchain adoption into everyday life.”—Heatherm Huang, director of MDT

Furthermore, Heatherm Huang, director of MDT, has been invited to join Chain as Chief Product Officer. Alongside other members of MDT currently working on the two ecosystem products (namely RewardMe and MeFi) following the acquisition. In addition, as Chain proceeds to expand its team, the mission to build forward-thinking products, and improve its services continues. The MDT team are veterans of consumer apps and blockchain innovations. MDT’s expert engineers, product designers, and marketing professionals will integrate into Chain’s current operations.

“I am deeply excited to announce that Chain will be acquiring MDT, and will have the opportunity to work alongside the company’s brilliant team. We look forward to continuing to scale our products and reach new heights,” — Chain CEO Deepak Thapliyal

ABOUT Chain

Chain offers builders in the Web3 industry services that help streamline the process of developing, and maintaining their blockchain infrastructures. Furthermore, Chain implements a SaaS model for its products that addresses the complexities of overall blockchain management. Chain offers a variety of products such as Ledger, Cloud, and NFTs as a service. Companies who choose to utilize Chain’s services will be able to free up resources for developers. Cut costs so that clients can focus on their own products and customer experience.

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ABOUT Measurable Data

Measurable Data Token (MDT) aims to provide a blockchain base data economy. Where data providers and data buyers can exchange data securely and anonymously.

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RESOURCES

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