Review on Onix by gregori cordova
A project that claimed to offer many solutions but abandoned its original roadmap
For nobody is a secret that the economic situation in Venezuela in recent years has presented a resounding decline and today the inflation is practically unsustainable. There are some projects that are taking advantage of this situation to create cryptocurrency projects that aim to provide a solution.The ONIX project was the first cryptocurrency project carried out in Venezuela, and it promised in its white paper, a series of very tentative advantages for the entire Venezuelan market especially. but it all seemed too good to be true and in the next few months after its release, this was proven.
In their roadmap that was even presented in January 2019 at The North American Bitcoin Conference, they had the following objectives: to solve the serious problem of cash shortages in the country, to control inflation, to facilitate payment with Onix in most of businesses in the country, all this under an effective blockchain, and with a lot of scalability. They also promised to have a system of loans and aid to encourage scientific projects in the country.
All this was presented under the framework of the announcement in 2018 of the legalization of the use of cryptocurrencies as a method of payment in the country, which made them gain the trust of many followers
Pros
- This project had a very good marketing campaign in the country at the beginning, and they promoted workshops in many universities on the use of cryptocurrencies, thus gaining the trust of a community that expected a change in the country.
- It was the first cryptocurrency created in Venezuela
- reached a historic total of $ 15 million in market capitalization
- They offered a reward of 60 onix with downloading their wallet and a referral system with which you would get 15 onix for each referral
Cons
- Their market cap was extremely low for everything they wanted to achieve and they took advantage of the euphoria with the rise of bitcoin to make a profit and then abandon the project
- The project is abandoned, and its social networks since mid-2019
- There is no current type of traffic on any exchange in this cryptocurrency and it is among the last places in coinmarketcap
- More than 100 million coins were pre-mined at the beginning and most were under the power of the developers, which would affect the value in the future.
- their data appeared to be tampered with as it did not match the reality that was displayed on various arbitrage sites
- The user community is still waiting for responses from the team but they have never offered any statements.
