ONYX

Our token, and everything about it.

$ONYX is a bToken powered by Baseline Markets, with each token backed by an underlying reserve of $ETH, which creates a max drawdown price known as the BLV. $ONYX has a hard-capped total supply of one million (1,000,000) tokens.

The initial distribution of $ONYX occurred through a private mint event for Passport holders only. Participants of the pre-sale were able to mint 500 $ONYX tokens for each Passport held, at an initial value of 0.001 $ETH per token — meaning 0.5 ETH per passport. $ONYX tokens that weren't minted during this event were used to provide liquidity.

Liquidity

Every $ONYX token is backed by $ETH, establishing the Baseline Value. For more information on how this $ONYX backing operates, check out the Baseline Markets docs.

Staking and Fees

$ONYX fees

$ONYX-side fees generated from the Baseline LP will be redirected to LPs who provide liquidity to the $ONYX–$INIT pool on Initia L1. This is designed to accelerate growth of the $ONYX–$INIT L1 pool and support our push to have it whitelisted for Enshrined Liquidity.

Snapshots of eligible LP wallets will be taken every hour. To qualify for rewards, a wallet must maintain its LP position continuously throughout an entire Initia VIP epoch. At the end of each epoch, 33% of the total $ONYX fees collected to date will be distributed among qualifying wallets, weighted based on the number of hourly snapshots each wallet has participated in. This distribution process will repeat indefinitely.

Once $ONYX–$INIT is approved for Enshrined Liquidity, LPs will also be able to stake their LP tokens with Initia validators. This unlocks dual incentives:

1. $ONYX rewards from the Baseline pool

2. $INIT rewards via Initia’s EL program

You can join the pool here: INIT/ONYX Liquidity Pool.

$ETH fees

• 50% to Baseline Markets

• 50% to Asphodel

Use In-Game

$ONYX Bridge

$ONYX can be bridged into Kamigotchi World using the Token Portal. The token portal is opened from the button in the top left of the menu. In the Token Portal, $ONYX can be deposited into the game, where it transforms into ONYX Shards. ONYX Shards can also be withdrawn for $ONYX. Deposits are available instantly, while withdrawals generate a pending receipt which can be claimed after a delay. Import and export taxes apply, these are non-refundable and subject to change. The latest information regarding taxes and delay times can be viewed by hovering over the in the Token Portal.

Re-Rolling Kami

Players are able to Re-roll their Kami at the Vending Machine. Re-roll tickets are auctioned for ONYX Shards at the Vending Machine and are priced via a Gradual Dutch Auction.

Trading ONYX Shards in the Marketplace

As with any in-game item, ONYX Shards can be traded at the Marketplace (KWOB) in the top left of the map. This allows operators to exchange between MUSU and ONYX Shards.