Onyxcoin

XCN did not begin as a fresh 2022 blank slate. Chain’s earlier CHN became the input to a conversion contract and exchange migration: one CHN was surrendered for 1,000 XCN. The code burned the CHN and issued the larger number of units, so a chart spanning the change must not read the unit jump as organic issuance.

The canonical Ethereum contract still calls itself “Chain” and records delegated vote checkpoints. It minted 21,537,311,000 XCN at deployment and exposes a migration mint path capped by a Solidity constant. Onyxcoin is therefore a later public identity wrapped around code whose internal name remembers Chain.

A Bittrex notice updated February 1, 2023 reports its completed change from Chain (XCN) to Onyxcoin (XCN), with wallets and trading enabled and no holder action required. This documents completion at that exchange by that date, not the first rename date across all markets. Unlike the CHN conversion, it kept the asset.

Onyx Protocol then used the name for a Compound-style lending product. Its 2023 v2 plan was unusually explicit: new money-market contracts did not alter XCN, staking or governance. Borrowing risk belonged to those markets, not automatically to every token balance.

OIP-35 connected Base by lock-and-mint accounting: Ethereum XCN was locked and an equal amount minted on Base; return burned the Base representation before releasing Ethereum collateral. The proposal also directed 100 million XCN to Base DEX liquidity.

That makes chain labels operational. The Ethereum address 0xa2cd…fb18 is canonical in the bridge docs, while Base 0x9c63…5e0c represents locked Ethereum units. A balance on one network cannot silently be treated as the governance balance on another.

On Ethereum, governance weight came from staked XCN. The published path ran through a Governor, a 200 million affirmative-vote requirement and a Timelock that waited two days. A Guardian wallet could cancel before execution, meaning a vote was powerful but did not erase the emergency key.

The August 18, 2026 OIP-2 announcement made the change in participation concrete: it invited stXCN holders to vote through the Onyx Layer 1 app. That extended the documented route beyond legacy Ethereum staking, but the public proposal page did not reveal its result or execution payload. The announcement establishes who was invited and where, not that the proposal was carried out.

Older documentation and the 2025 white paper describe an L3 and Ethereum-only governance; the current product presents XCN as an Onyx Layer 1 asset. Naming stXCN made the new participation route concrete, but did not prove that every old parameter carried across. Advertised staking rates and fee burns remain adjustable program conditions.

A September 2, 2026 community announcement linked an Onyx proposal to acquire Chain technology and intellectual property and said voting would open in about 24 hours. That is the dated announcement, not proof that the purchase closed. The linked blog was access-blocked in this review and the vote result was not independently obtained.

Chain’s separate corporate history dates to 2014, followed by the reported Stellar acquisition and Interstellar formation in 2018 and reacquisition in 2020. XCN does not itself document company equity, treasury redemption or software title. The proposed technology purchase would therefore be another product decision to judge on its terms, after a history in which the unit, the brand, lending contracts and voting network changed at different times.