Onyx Protocol: Initiating a proposal to shut down the ETH-based lending market and planning to fully compensate stolen user funds

DailyNews

2024-09-27 08:47:33

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Odaily Star News: Onyx Protocol published proposal OIP-46 on the X platform, suggesting to restart Onyx’s Open Source licensed financial network, Onyx Core, as the main product to ensure the governance of Onyx Core and the rewards of Onyx Staker, in response to the recent hack. According to the proposal, Onyx Protocol will operate as a closed lending protocol on the Onyx Core, allowing users to package and lend non-fungible tokens and real world assets (RWA), while supporting encrypted assets from multiple chains. This move will close the lending market based on Ethereum and fully compensate all affected users, paying their provided assets at a ratio of 1:1.

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