Introducing Onyx

The easiest way to invest financial indexes, such as the S&P 500, completely decentralized, on the ethereum blockchain.

Buy one of our tokens

= OUSD
= OSPV
= OSPVS

Dollars:

What is Onyx?

Onyx is a token provider that provides ETF-like, ERC-20 tokens to the crypto masses in order to invest in, or short, crypto or non-crypto assets such as the S&P 500, Gold, Bitcoin, or Nasdaq 100. We plan on being just like Vanguard, iShares, or ProShares of the crypto world.

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.


Our Mission

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.

Decentralized

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.

Scalable

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.

Infinite Liquidity

You will experience zero price slippage when interacting directly with the contract.

Stable

The price of the token will always follow the price of the underlining asset and only grow more stable as the ecosystem grows.

Want to make free money?

Check out our developer page to see how to make money with price arbitrage opportunities interacting with our contract, keeping our token prices stable.


How does it work?

Onyx tokens are traded on regular crypto exchanges but their price is pegged to the underlining asset they represent by price arbitrage opportunities made available by the token’s contract. If the price of the token trading on exchanges is too low, arbitragers can buy the discounted token on the exchange, and sell it to the contract for profit, decreasing the supply and increasing the price. This will continue until the price of the token is equal to the underlying asset. If the price of the token is too high, arbitragers can buy the token from the contract and sell it on the exchange for the elevated price for a profit, increasing the supply and decreasing the price. This will bring the price down to the correct level. For a more detailed look of the inner workings, check out our litepaper.


What if I have more questions?

You can ask us a question on Reddit or tweet us @Onyx_finance.

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