OnyxCoin latest updates

(Source:OnyxProtocol)

Recently, Onyx Protocol has shown remarkable technological progress and ecological expansion, whether it is the opening of governance mechanisms, the launch of Onyx AI, or the launch of the new Onyx Points reward system, all indicating that the project is steadily advancing towards new heights in blockchain technology.

OIP-56 governance mechanism open

Onyx Protocol recently officially passed the OIP-56 proposal, initiating the initial OIP voting mechanism and further opening up governance participation for $XCN. This governance update marks Onyx’s entry into a new stage of decentralized governance, aiming to enable community members to participate more directly in the decision-making process and enhance the transparency and democracy of the entire protocol. With the implementation of OIP-56, Onyx has also simultaneously promoted the following core functions:

• $sXCN Liquidity Mining
• Layer 3 #XCN Ledger
• Ambassador & Zealy Plan
• Gas-free wallet (coming soon)
• Preview of new features such as Goliath

(Source:OnyxDAO)

These innovations not only enhance the decentralization of the Onyx protocol, but also significantly strengthen the participation of its ecosystem, and the future development potential should not be underestimated.

Onyx AI: The Future of On-Chain Automation

(Source: blog.onyx.org)

Another breakthrough for Onyx Protocol is the birth of Onyx AI, a blockchain-native automated agent designed specifically for the XCN Ledger, aiming to combine the deterministic execution of blockchain with the adaptive computation of artificial intelligence, achieving true decentralized automation. The main functions of Onyx AI include:

• DeFi task automation: Smart contract execution, staking, borrowing, yield optimization, and liquidity management can all be automated.
• Token management: supports automated minting, burning, airdrops, and asset restructuring.
• Cross-chain interoperability: Through multi-chain logical modules, achieve seamless interaction between different blockchain networks.

Onyx AI operates entirely dependent on XCN as a medium for computing, transaction execution, and value transmission, and operates under a decentralized framework to ensure secure and efficient transactions. This design not only strengthens the technological barriers of the Onyx protocol, but also further consolidates the core position of XCN in the ecosystem. More importantly, the architecture of Onyx AI can connect to the deterministic operation of the EVM (Ethereum Virtual Machine) compatible environment and incorporate the reasoning ability of artificial intelligence, enabling it to understand on-chain and off-chain data, evaluate complex operations, and automatically execute multi-step operations.

Onyx Points reward system

(Source: blog.onyx.org)

Onyx Protocol also introduces a brand new Onyx Points reward system, aimed at expanding ecosystem activity by incentivizing token holders and protocol participants.

How to earn Onyx Points?

• Passive rewards: Holding whitelist assets automatically earns points.
• Activity rewards (coming soon): Earn higher rewards through liquidity provision or DeFi operations.
• App Rewards: Participate in decentralized applications (dApps) in the Onyx ecosystem, and have the chance to receive additional rewards.

All Onyx Points will be recorded in the form of NFTs, and users can verify their point holdings on-chain and participate in future airdrops and ecosystem feedback. The design of Onyx Points follows a decentralized governance model, where all reward calculations, asset verification, and distribution are automatically executed through smart contracts, overseen and managed by Onyx DAO to ensure system transparency and security.

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Summary

Onyx Protocol is continuously pushing the boundaries of decentralization through diverse technological innovations and strengthened governance mechanisms, from the implementation of OIP-56, on-chain automation of Onyx AI, to the reward ecosystem of Onyx Points. Each step signifies the growth and maturation of this protocol. The development of Onyx is not just about technological advancement, but also a commitment to and practice of decentralized ideals. As an emerging on-chain ecosystem, OnyxCoin (XCN) may become the cornerstone of the next generation of technology, reshaping our imagination of blockchain applications.