In the roadmap to convert ONUS Token to ONUS Coin, ONUS will burn off ONUS Tokens that do not need to use (on the Polygon network, KardiaChain, Ethereum, and BNB Chain) and leave only a small part to serve the needs of the community.
ONUS on other Chains only acts as a mapping token (Only redeemable for ONUS) and does not generate additional circulation.
Burning transactions:
- Burning ONUS Token on the Ethereum network: https://etherscan.io/tx/0x283ad7705d47b462d4be385f9220addd64d6a6b9267b5f516999770a399b77f7
- Burning ONUS Token on the BNB Chain network: https://bscscan.com/tx/0x2ac6622fdc74d6497c6fb32728321db4636247617954f04b723a6713ffc722b1
- Burning ONUS Token on the Polygon network: https://polygonscan.com/tx/0x2481bb16008096ff1a319e6ffbc076a92eb6777e51bf3355806a65354265292b
- Burning ONUS Token on the KardiaChain network: https://explorer.kardiachain.io/tx/0x0fbfea914d6240104ac00dcf88e6cba9b4c93bdea89943fe55d9384874b4efd2
In addition, ONUS Coin will apply the vesting policy according to the Whitepaper in the smart contract in the coming days.
About ONUS Coin
ONUS is the native token on the ONUS Chain. ONUS is used to secure the network through validators’ staking, governance, payments, and transaction fees. ONUS acts as both a utility token and a governance token of the ONUS ecosystem.
ONUS Coin’s Use Cases
- Network security: Validators need to deposit a large amount of ONUS Coin to have the right to validate transactions to ensure the accuracy, transparency and security of the ONUS Chain.
- Payment of transaction fees: ONUS is used to pay transaction fees, smart contract deployment fees, or new network creation fees.
- On-chain Governance: ONUS Holders can propose and vote on significant changes to the ONUS Chain network.
ONUS Coin tokenomics details: https://docs.onuschain.io/onus-coin/tokenomics
