The information about the Onyxcoin (XCN) token is gathered from various websites and posts on X. Onyxcoin (XCN) is an ERC-20 token launched on the Ethereum blockchain, serving as the native utility and governance token for the Onyx Protocol, a decentralized platform focused on enhancing financial services through Web3 infrastructure. Originally known as Chain, the project rebranded to Onyxcoin in March 2022, transitioning its token from CHN to XCN at a 1:1,000 ratio. The Onyx Protocol, founded in 2014 by Adam Ludwin, aims to provide organizations with tools to build robust financial solutions, leveraging scalable and user-friendly smart contracts. XCN powers a variety of functions within the ecosystem, including governance through the Onyx Decentralized Autonomous Organization (DAO), where token holders vote on protocol improvements and community-driven initiatives. It also serves as a utility token for accessing premium services, paying fees for products like Onyx Cloud and Sequence, and staking to secure the network and earn rewards.

The total supply of Onyxcoin is capped at approximately 48.47 billion tokens, with an initial distribution that included allocations to the foundation (15 billion) and the DAO (10 billion), alongside mechanisms for gradual unlocking and community involvement. The protocol operates as a Layer 3 blockchain, built on Ethereum and enhanced by integrations with Arbitrum and Base, offering full EVM compatibility and native bridging capabilities. A notable feature is its implementation of EIP-1559, which enables on-chain $XCN burns to manage supply, drawing inspiration from Ethereum’s fee-burning mechanism. Onyxcoin supports a broad range of digital assets, including Ether (ETH), ERC-20 tokens, ERC-721 NFTs, and ERC-1155 tokens, facilitating peer-to-peer lending, borrowing, and liquidity provision within a decentralized framework. The platform’s smart contracts have been audited by firms like CertiK, emphasizing security and transparency. Beyond finance, Onyxcoin’s modular design allows developers to create interoperable blockchain networks, connecting independent systems under shared standards, making it a versatile infrastructure for both consumer and enterprise applications.