OnX Finance
Crypto Overview
Overview
OnX Finance is a decentralized perpetual exchange protocol built on Arbitrum that offers decentralized leveraged trading. The platform allows users to trade perpetual futures contracts with up to 100x leverage.
Purpose and Utility
The ONX token serves as the protocol's governance token, allowing holders to participate in decision-making regarding protocol parameters and development. It also provides fee-sharing mechanisms where token holders can earn a portion of the trading fees generated on the platform.
Business Model Analysis
The core business model revolves around facilitating leveraged trading and derivatives trading, which inherently involves elements of margin trading and interest-based mechanisms. The platform generates revenue through trading fees and liquidation fees.
Development and Adoption
The protocol shows active development on GitHub and maintains regular updates to its platform. The team appears to be consistently working on improving the trading infrastructure and implementing new features.
Token Distribution
The token distribution includes allocations for the team, early investors, and community incentives. Specific vesting schedules are in place for team and investor tokens.
Crypto Impact
To assign a comfort level investing in OnX Finance from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to OnX Finance.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.