The easiest way to invest financial indexes, such as the S&P 500, completely decentralized, on the ethereum blockchain.
Target price: $1.00
Our flagship token, Onyx USD is an ERC-20 token whose price is pegged to the US Dollar.
The Onyx S&P 500 is the first token whose price is pegged to the S&P 500 index.
The Onyx S&P 500 Short is the first token whose price is pegged to the inverse of the S&P 500 index.
Currently, Defi can trade and hold stable money, borrow and lend that money, gamble it, invest it, have futures, options, and even leveraged trades. But all of that is meaningless if you can't do it to real world assets and you can only do it to tokens. Our mission is to fill the final missing piece of DeFi, and enable the community to trade and hold real world financial indices and commodities. Finally, you can have your entire financial life completely decentralized on the blockchain. Buy and hold the S&P 500, or short it, or convert it to bonds or stable money, all on the blockchain, completely decentralized. Never have a bank or broker ever hold your wealth ever again.
Onyx does not rely on one exchange to maintain the price of the tokens. The price in maintained by decentralized arbitrage, and the tokens are traded on multiple exchanges.
The Onyx ecosystem can add infinitely many different tokens without any loss in stability. As a matter of fact it will only make it more stable.
You will experience zero price slippage when interacting directly with the contract.
The price of the token will always follow the price of the underlining asset and only grow more stable as the ecosystem grows.