Onyxcoin

Onyxcoin (XCN) is the token of the Onyx ecosystem; it was previously known as Chain. Onyx presents itself as a blockchain infrastructure that aims to offer speed and regulatory compliance for banks and financial institutions; the ecosystem also includes a lending application called Onyx Protocol. XCN has token contracts on Ethereum, Base and BNB Chain, while on the Onyx network itself it is used as the native asset.

According to the project, XCN is the gas token used to pay transaction fees on the Onyx network, the staking token used to contribute to network security and the governance token in the Onyx DAO. The XCN contract on Ethereum has long been used for staking and governance functions. According to the official website, the Onyx network runs on proof of stake, validators are selected based on staked XCN, the network is EVM-compatible, and part of the transaction fees paid in XCN is burned.

The XCN price may be affected by whether the Onyx network is actually used by institutions, new supply created by staking rewards, the token's distribution across multiple chains and the movements of large holders. The Onyxcoin page on Lzzo.com uses DefiLlama's US dollar reference price and a chart drawn from this source's historical series.