FAQ
Who is Onyx for?
Founders of small to medium businesses that are pre-token. Onyx can help tokenize and make your business liquid. Non-web3 businesses are welcome to tokenize with Onyx, but cash flows and assets will have to be migrated onchain.
Can I raise VC money if I'm already on Onyx?
Yes, Onyx is a tokenization platform. After listing on Onyx you still have full control over the tokens and you can issue more tokens as needed (for example to issue more equity to investors).
What is a multisig?
A multisig (short for multi-signature wallet) is a secure type of digital wallet that requires approval from multiple parties to authorize transactions. Think of it like a joint bank account that needs two or more signatures before any assets can be moved.
For example, if your company sets up a 2-of-3 multisig, it means any two out of three designated members must approve every transaction. This prevents any one person from moving funds unilaterally and adds an extra layer of security and accountability.
With Onyx, your business treasury is set up using a multisig (via Safe), ensuring that your tokenized equity and funds are protected by shared control. You decide who the signers are - co-founders, executives or board members - and keep full custody over your on-chain assets. By default, we set the threshold to n-1.
Who are multisig signers?
A multisig signer is a person (or entity) authorized to interact with transactions on a multisig wallet.
On Ethereum, each signer uses their personal Ethereum account — known as an externally-owned account (EOA) — to approve or reject transactions.
When setting up your business on Onyx, you designate the initial signers by providing their EOA addresses. These signers are responsible for managing the company’s on-chain treasury. Over time, tokenholders can vote to add, remove, or replace signers, giving shareholders a direct role in treasury governance.
Do I need to have a multisig to list on Onyx?
Upon creating a new listing, Onyx will automatically create a new multisig treasury for you. Businesses can afterwards add more signers to the multisig treasury and move their business funds accordingly. Eventually, tokenholders will be able to perform onchain governance and are eligible for automatic streaming of distributions.
How does my listing get Onyx Verified?
Listings that meet the high-level standards set by Onyx may receive the “Onyx Verified” badge, signaling a high level of trust and transparency. The Onyx verification is granted only to listings with a proven track record, clear ownership structure, and full compliance with Onyx’s disclosure and governance requirements. By earning this status, listings benefit from increased credibility, investor confidence, and visibility.
What are sniper bots?
Sniper bots are automated programs that monitor the launch of new tokens and instantly buy them the moment they become available. These bots are designed to gain an unfair advantage by exploiting speed, usually buying large amounts of a token at a very low price and then quickly selling them once the price goes up, which can manipulate the market and leave investors with losses. In order to prevent sniping, Onyx gives businesses the tools to set protective measures, e.g. the option to set a valuation floor, to ensure a fair and stable launch environment.
If there's already Echo and Legion, why Onyx?
Onyx is not a replacement to those platforms, but an extension. Onyx is for projects that have already raised funding via Echo and Legion and are ready to launch a token.
Is the idea new?
No, protocols and projects in web3 have been issuing tokens for years now. However, every project has a different standard for their governance and distributions. They also have complicated, opaque structures for managing their cash flows even though it's all onchain. Onyx is about bringing it all under one, easily issueable standard.