XCN began as the evolution of the original Chain ecosystem, rebranding into Onyxcoin (XCN) to support a broader, DAO-driven vision. Built as an ERC-20 token on Ethereum, it retains deep compatibility with the Ethereum ecosystem while signaling a shift toward decentralized governance and infrastructure ownership.
XCN plays an active role in powering the Onyx protocol stack, including usage as a gas and utility token for the Onyx Ledger, a higher-throughput blockchain that ultimately settles back to Ethereum. Its design emphasizes infrastructure use cases—access, permissions, and protocol-level coordination—rather than passive functionality.
At its heart, XCN is a governance token, enabling holders to propose and vote on upgrades, parameters, and ecosystem decisions through the Onyx DAO. This structure gives the community direct influence over the protocol’s evolution, aligning long-term development with token holder participation.
