Another Airdrop – What You Need to Do
Onyx is a pro-level trading terminal that brings advanced tools to the Hyperliquid ecosystem. The platform is running an active points farming program where users can earn rewards through trading and referrals.
In this guide, you will find clear step-by-step instructions on how to participate in the Onyx points program, earn points, and claim a share of the $10,000 weekly CASH rewards. We also explain the risks and give our honest evaluation of the project. This guide is written for beginners – all terms are explained in simple language.
🚀 What is Onyx and why is it giving away rewards
Imagine you are trading cryptocurrencies, but you want better tools, more order types, and access to more assets than a typical exchange offers. That is Onyx – a pro-level trading terminal built on top of Hyperliquid.
Onyx enhances Hyperliquid's native interface with advanced features like stop-market, stop-limit, TWAP, and scale orders, allowing users to execute sophisticated trading strategies with precision.
The platform offers perpetual trading with leverage up to 100x and access to over 100 assets, including major tokens, HIP-3 pairs, and emerging altcoins. Onyx taps directly into Hyperliquid's liquidity, benefiting from a permissionless listing system that removes reliance on centralized approvals.
The project has raised $3.4 million in investment from reputable funds including Castle Island Ventures, Archetype Ventures, and Matrixport.
💡 Why is Onyx giving away rewards
It is not charity. The points program is a marketing strategy to attract early users and reward the community. By trading on the platform and referring friends, you help promote the platform and provide liquidity. In return, you earn points that can be converted into weekly CASH rewards. This is how many Web3 projects build their community and generate buzz around a new platform.
📊 Key metrics
Reward
$10,000 in CASH rewards distributed weekly
Points system
Earn through trading and referrals
Investors
$3.4M from Castle Island, Archetype, Matrixport
Blockchain
Built on Hyperliquid, deposits on Arbitrum
Leverage
Up to 100x on perpetual trades
Assets
100+ trading pairs available
🎯 Step-by-step instructions
Prepare your wallet. Onyx works with wallets like MetaMask that support the Arbitrum network. If you do not have a wallet yet, download MetaMask from the official website and create a new wallet. Save your seed phrase in a safe place – never share it with anyone. You will need some funds on the Arbitrum network to trade and earn points.
Go to the Onyx platform. Visit the official Onyx website at app.onyx.live.
Connect your wallet. Click the Connect Wallet button and approve the connection. Important: connecting a wallet is safe – you are not giving anyone access to your funds.
Deposit funds. Click Deposit and add funds on the Arbitrum network. You will need funds to start trading and earning points.
Start trading. In the Trade section, choose a market and trading pair, set your parameters, and open a position. Build up trading volume to earn more points.
Earn additional points. In the Earn tab, you can deposit funds to earn APR on your holdings. You can also earn referral points by inviting others to join the platform.
Track your points and rewards. Monitor your points and stats in the Portfolio and Points sections.
Claim your rewards. Points are converted to weekly CASH rewards. The distribution happens weekly to participants based on points earned.
⚠️ Important nuances and pitfalls
- KYC: No KYC is required to participate.
- Geo-restrictions: Some countries may be restricted from participating. Always check the official rules.
- Gas fees: Transactions on the Arbitrum network require a small gas fee in ETH. Make sure you have a small amount of ETH on Arbitrum for transactions.
Risk disclaimer: Trading with leverage involves significant risk. Only trade with funds you can afford to lose.
Scam risk: Always double-check that you are on the official Onyx website (app.onyx.live). Never share your seed phrase or private keys. No one from the project will ever ask for them.
💡 Editor's tips
- Use a separate wallet for airdrops to keep your main funds safe.
- Double-check all links manually before clicking – scammers often create fake websites.
- Start with small trades to understand the platform before committing larger amounts.
- Follow Onyx's official channels for the latest news and updates.
- Remember that leverage trading is risky – consider using a delta-neutral strategy to hedge positions.
📊 Project evaluation (Trust Score and Potential Score)
Trust Score
75/100
Onyx is a legitimate project built on Hyperliquid with a clear product and strong backing from reputable investors including Castle Island Ventures, Archetype Ventures, and Matrixport. The platform has raised $3.4 million and has an active points system. However, no official token has been announced yet, and the project has not undergone public security audits.
Potential Score
78/100
Onyx operates in the growing DeFi and perpetual DEX space, building on Hyperliquid's liquidity and ecosystem. The points program is a smart way to build a community before a potential token launch. The project has strong investors and a clear value proposition for traders. However, competition in the DEX space is fierce, and the project is still relatively early.
✅ Conclusion
The Onyx points program is a low-risk way to get involved in a promising DeFi trading platform. The reward is a share of $10,000 in weekly CASH rewards distributed based on trading activity and referrals. The project has strong fundamentals, including $3.4M in funding from top-tier investors. If you are interested in DeFi trading and want to earn rewards, this is worth your time.
❓ FAQ
How much can I earn?
$10,000 in CASH rewards is distributed weekly among participants based on points earned from trading and referrals.
Can I use Trust Wallet?
Yes, Trust Wallet can be used if it supports Arbitrum, but MetaMask is recommended.
What is a snapshot?
A snapshot is a record of wallet balances or activity at a specific moment. Onyx uses a snapshot-based system to capture wallet balances of whitelisted assets.
Can I catch up on missed steps?
The points program is ongoing, so you can still participate.
Is this project safe?
Onyx is a legitimate project with backing from reputable investors. However, always do your own research and never share your private keys.