Onyx Protocol: Plans to shut down the Ethereum-based lending market and intends to fully compensate users for stolen funds

ChainCatcher news, Onyx Protocol posted on platform X stating that in response to the recent theft incident, Onyx Protocol has released proposal OIP-46, suggesting to restart Onyx's open-source licensed financial network Onyx Core as the main product, ensuring the governance of Onyx Core and the rewards for Onyx Stakers alongside XCN Staking.

According to the proposal, Onyx Protocol will operate a closed lending protocol on Onyx Core, allowing users to wrap and lend NFTs and real-world assets (RWA), while supporting crypto assets from multiple chains. This move will shut down the Ethereum-based lending market and fully compensate all affected users, paying them at a 1:1 ratio for the assets they provided.