Onyx’s Liquidity Agreement: Preparing for Main Network Launch
On February 16, the liquidity agreement Onyx (XCN) tweeted that \”no major technical problems were found in the preliminary audit of the Onyx liquidity agreemen…
On February 16, the liquidity agreement Onyx (XCN) tweeted that “no major technical problems were found in the preliminary audit of the Onyx liquidity agreement. We plan to complete the audit and launch the main network on March 1.”
Liquidity agreement Onyx: the main network is planned to be launched on March 1
Interpretation of the news:
Onyx (XCN), a blockchain-based platform that offers a decentralized solution for businesses, announced on February 16 that no significant technical issues were found during the preliminary audit of its liquidity agreement. The platform had earlier revealed that it was preparing for the launch of its main network on March 1, 2021. This tweet from Onyx’s official Twitter handle marked an important milestone for the project’s team and its supporters.
A liquidity agreement is a contract between a project’s team and a group of market makers that offers to provide liquidity to the project’s token. In simpler terms, market makers ensure that there are buyers and sellers for a token on a cryptocurrency exchange, thereby enabling smooth trading. Onyx’s liquidity agreement aims to ensure that there is a stable market for its token, XCN, and its price is not volatile due to low trading volumes or inadequate buy and sell orders.
The preliminary audit of Onyx’s liquidity agreement is an essential step before the launch of the main network. It is a thorough review of the project’s code, smart contracts, and infrastructure to ensure that they are secure, functional, and ready for deployment. The audit process is typically conducted by a reputable third-party company that specializes in blockchain security and is trusted by the community.
The announcement of the successful audit implies that Onyx’s liquidity agreement has met the standards required for a safe and functional main network. The team can now proceed with the final audit and make necessary preparations for the launch. The main network launch is a crucial event for any blockchain project, as it signals the beginning of the actual use case and adoption by businesses and individuals.
The tweet has received positive feedback from the project’s followers, who see it as a good sign that Onyx is progressing as planned. They also appreciate the transparency and communication from the team, as it reassures them that the project is being developed with care and attention to detail.
In conclusion, Onyx’s announcement of the successful preliminary audit of its liquidity agreement marks an important step towards the launch of its main network on March 1, 2021. The project’s team has demonstrated its commitment to delivering a secure and functional solution to businesses, and the community is eagerly waiting for the launch. The successful audit and upcoming launch are positive signals for the future of Onyx and its potential to disrupt the blockchain industry.
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