Onyxdao
Onyxdao: XCN Holding and Liquid Staking
Onyx DAO participants can keep native XCN available for Onyx Mainnet transactions or deposit it into liquid staking and hold stXCN. Native XCN covers gas and transfers; stXCN represents a staked position with variable rewards and snapshot-based governance eligibility. Holding unstaked XCN alone gives no voting power in the native Onyx Chain governance system.
Native XCN and stXCN Compared
| Function on Onyx Mainnet | Unstaked Native XCN | Liquid Staking Position Represented by stXCN |
|---|---|---|
| Transaction Use | Native XCN pays network gas and can be transferred directly. | stXCN is a transferable representation of a stake. Network gas remains payable in native XCN. |
| Liquid Staking Rewards | The unstaked balance earns no rewards from Onyx liquid staking. | The staking position earns variable rewards. APY is not guaranteed. |
| Native Governance Eligibility | Unstaked XCN has zero voting power in the stXCN-based system. | Eligible stXCN supplies voting weight at a proposal snapshot, including accrued staking rewards. Native voting requires the proposal's finalized snapshot and an open voting period. |
Rewards, Transferability, and Contract Controls
stXCN can be held or transferred while the staking position earns rewards. Further use in another application depends on the integration support available for that token; transferability alone does not establish compatibility with every Onyx market or application.
The APR displayed in the Onyx App can change. Liquid staking also introduces smart-contract risk: the protocol owner can adjust reward rates and fees, pause staking, or upgrade contracts. Transferability does not remove these contract risks.
Ethereum Balances and Legacy Staking
Onyx App records OIP-71: Layer 1 Governance Adoption as executed on October 6, 2026. Its listed operations include setting the legacy Ethereum staking reward emission rate to zero. The proposal preserves previously earned rewards as claimable and eligible staked principal as withdrawable under existing contract rules. Ending new legacy emissions does not end those claims or withdrawals.
XCN remains an ERC-20 token on Ethereum. Onyx Mainnet liquid staking accepts native XCN on chain ID 327, and an Ethereum staking position supplies no voting weight in the separate native Onyx Chain system.
For XCN starting on Ethereum, Onyx Bridge provides a documented route to Onyx Mainnet when operational. XCN transfers are supported in both directions, with fees and minimums depending on direction and current application settings. Bridge charges are separate from network gas; transactions submitted on Ethereum incur Ethereum gas separately.
A Partial Staking Budget
A split allocation can preserve native XCN for transactions while setting aside funds for a staking position. For this hypothetical comparison, assume an available balance of 4665 native XCN on Onyx Mainnet and a reserve of 285 XCN for transaction costs and later transfers. Both amounts are hypothetical; the reserve is a planning choice, not a quoted gas fee.
The allocation is
4665 - 285 = 4380
, leaving a staking budget of 4380 XCN. Keeping the entire 4665 XCN unstaked would preserve the full native balance before transaction costs, with zero stXCN-based voting weight. The split instead assigns 4380 XCN to staking and retains a 285 XCN budget for gas and transfers. Actual transaction costs consume part of that reserve, so it is not a promised balance after execution.
Increasing the reserve reduces the staking budget by the same amount. The subtraction does not determine how much stXCN the staking contract issues or what rewards the position will earn. Any governance weight comes from the resulting eligible stXCN at the relevant finalized proposal snapshot; the unstaked reserve contributes none.
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