ONYXCOIN (XCN) tokenomics

The token economics of Onyxcoin (XCN), the native token of the Chain Protocol, are designed to support a blockchain-based cloud infrastructure and promote decentralized governance and community involvement.

The available information provides details on the token's supply, allocation, usage, and a general locking mechanism for the DAO-controlled supply.

Issuance and Allocation Mechanism

The total supply of Onyxcoin (XCN) has been reduced to 48,470,523,779 units. As of early 2025, approximately 23 billion XCN were in circulation.

Initial Distribution

The initial distribution of XCN tokens was conducted through airdrops targeted at non-US and non-sanctioned users.

DAO Control and Treasury

A significant portion of the total supply is controlled by the Onyx DAO, which manages approximately 25 billion XCN. This DAO-controlled supply is further divided:

• 10 billion XCN are allocated to the DAO Treasury.
• 15 billion XCN are subject to a gradual unlocking mechanism via a time-locked smart contract.

This controlled release of tokens is intended to ensure trustworthy inflation and long-term value preservation.

Usage and Incentive Mechanism

Onyxcoin (XCN) functions as the native token of the Chain Protocol, a blockchain-based cloud infrastructure. Its utility is centered around governance, network services, and passive income generation.

Core Utility

• Governance: XCN grants holders the right to vote on protocol improvements and participate in the development of the Onyx DAO. This active community involvement is seen as a factor that can increase demand for XCN and influence its price.
• Payment for Services: XCN is used to pay for services across the Chain Protocol ecosystem.
• Discounts and Premium Services: Holders can gain access to discounts and premium services within the ecosystem.

Incentives and Rewards

• Staking and Lending: Users can earn passive income by staking or lending their Onyxcoin. Staking encourages active community participation and allows users to influence the protocol's development.
• Network Support: Users can operate their own network nodes and use their computing power to support the platform networks, contributing to a decentralized and robust ecosystem.

Locking Mechanism and Unlocking Time

The primary locking mechanism detailed for Onyxcoin relates to the supply controlled by the Onyx DAO.

• DAO-Controlled Supply: The 15 billion XCN controlled by the Onyx DAO are subject to a time-locked smart contract that facilitates their gradual unlocking. This mechanism is designed to ensure a controlled release of tokens into circulation, supporting long-term value preservation.

Specific details regarding the precise schedule, duration, or cliff dates for the unlocking of the 15 billion XCN from the time-locked smart contract were not available. Similarly, information on locking mechanisms for individual token holders (beyond general staking/lending options) or the vesting schedules for team, investors, or other initial allocations was not disclosed in the available data.

Summary of Onyxcoin Tokenomics Components

Information regarding the specific, detailed unlocking schedule (e.g., cliff dates, linear release rate) for the 15 billion XCN controlled by the Onyx DAO was not available.