Onyx Protocol operates a cross-token decentralized liquidity platform that lets users borrow and supply both NFTs and cryptocurrencies within a single money-market-style interface. The protocol is powered by Onyxcoin (XCN), which functions as the platform’s utility and governance token and grants holders participation in the Onyx DAO. Onyx presents a decentralized money market across blockchains and emphasizes developer and ecosystem growth. The company plans to expedite its product roadmap, enhance adoption of lending-market tools, and expand its ecosystem. To support those plans, Onyx DAO (in collaboration with Chain Global) secured a major commitment intended to accelerate developer activity and platform adoption. The partnership with institutional backers is presented as validation of Onyx’s strategy and technology amid a growing DeFi market.

Total raised

$40M

Funding rounds

1

Latest round

Equity

Latest activity

Mar 2023