AMA with Onion Mixer

Welcome to the recap of our AMA with Onion Mixer

Our vibrant and enthusiastic community had a lot of questions to ask. To those who want to know quickly what is Onion Mixer about, we are sure this recap is gonna help you. So without further ado, continue reading.

• Introduction with Onion Mixer

I AM | Chris:
Q1. So, firstly Can you guys introduce yourself and also please tell us how did you come up with this project?

Onion Mixer:
Hello everyone, I am an Onion! You can think of me as a person or as a team, and we’re made up of a group of geeks, experienced defi players and developers who admire and advocate true decentralized world and privacy protection in DEFI!

Onion Mixer is the first decentralized protocol for anonymous cross-chain transactions on BSC.

I AM | Chris:
cool! So how many of you are working as a developer to the project?

Onion Mixer:
The core members of our team is around 10

The word “mixer” vividly describes the working mechanism of Onion Mixer, that is, to mix transactions in the contract so that the links between deposit addresses and withdrawal addresses are cut off.

In this way, Onion Mixer manages to deliver private transaction services for users.

I AM | Chris:
Q2. Can you elaborate on how is the anonymity maintained when someone deposits or withdraws their assets to and from an address ?

Onion Mixer:
yes, of course

By combining CoinJoin coin mixing scheme and zkSNARK zero-knowledge proof, Onion Mixer splits the linkage between the deposit address and the withdrawal address, thus enabling transaction privacy protection for all DeFi components.

For specific, Onion Mixer is a smart contract mixer. When a user with token shuffle needs sends an encrypted asset to the smart contract, the smart contract will generate a string of zero-knowledge proof codes.

The proof then functions as a transaction voucher but contains no valid information about the user. When the user wants to withdraw assets from the smart contract, he/she only needs to provide the corresponding zero-knowledge proof code and a new address.

The smart contract will automatically transfer the asset to the new address. As these addresses are not linked in any manner, no one can connect addresses with transactions when users withdraw assets. In this way, Onion Mixer manages to provide users with complete transaction privacy.

I AM | Chris:
looks very easy way to transact there😃

Q3. How does holding the native token benefit the user ?

Onion Mixer:
OMT is Onion Mixer’s governance token.
It serves the following purposes:
1. reward users
2. improve functions in the protocol
3. deployed on new public chains
4. adjust protocol fees
5. community governance

There are 100 billion OMT issued in total. The distribution plan is as follows:
1. Anonymous mining 70%: to reward users use Onion Mixer for coin mixing.
2. Liquidity mining 10%: To reward users who provide liquidity for OMT transaction pool from a third-party platform.

3. Team rewards10%: To rewards the team and products improvement as well as development, The probability of staying locked is high.

4. Presale investors 7%: To reward Onion Mixer’s early investors and TVL partners. 5% unlocked upon listing. The rest 95% will be released on a daily basis for 6 months.

5. Airdrop and marketing 2%: To support the ecosystem development and external collaboration. Unlocked as needed.
6. IDO crowdfunding 1%: For users participating in OMT crowdfunding.

5. Airdrop and marketing 2%: To support the ecosystem development and external collaboration. Unlocked as needed.
6. IDO crowdfunding 1%: For users participating in OMT crowdfunding.

5. Airdrop and marketing 2%: To support the ecosystem development and external collaboration. Unlocked as needed.
6. IDO crowdfunding 1%: For users participating in OMT crowdfunding.

5. Airdrop and marketing 2%: To support the ecosystem development and external collaboration. Unlocked as needed.
6. IDO crowdfunding 1%: For users participating in OMT crowdfunding.

5. Airdrop and marketing 2%: To support the ecosystem development and external collaboration. Unlocked as needed.
6. IDO crowdfunding 1%: For users participating in OMT crowdfunding.

In addition, unlike traditional transaction mining, Onion Mixer's "anonymous transaction mining" incorporates an exit penalty mechanism to effectively curb the speculative behavior of short term traders and further guarantee the safety of transaction mining.

I AM | Chris:
very well said @OnionMixer

Onion Mixer:
This penalty mechanism also contributes to maintaining a stable market performance of OMT, guiding users to rational and sustainable investment, and guaranteeing the continuous and steady revenue growth of investment. The design of penalty mechanism is to better feedback our holding users.

I AM | Chris:
Q4. What are the next big updates in the pipeline for Onion Mixer ?

Onion Mixer:
We just finished INO with Dego yesterday, and we are glad over 1500 users applicate to get INO whitelist though there are only 100 quotas.

And in June, besides working closely with Dego, we will also enter into deep cooperation with DODO. We expect to launch IDO on Dodo on June 15th and release 1100 whitelist quotas . For more details, check out our official Twitter and community.

And, our contract has been audited at https://www.certik.org/, and have a really good grade! Audit report of Onion Mixer will be published soon!

In the future, we may add NFT and stablecoin exchange and lottery functions!
Detailed can look here: https://onionmixer.gitbook.io/onion-

• Community ask questions from Twitter

I AM | Chris:
Twitter Questions

Q1. I saw that Onion Mixer recently introduced an incentive mechanisms to attract more users. Can you give us more information about this mecanisms and how they will work? What do people need to do in order to receive incentives and what can they do with them?

from @meml97

Onion Mixer:
Our economic model is more reasonable, and we have designed this model very philosophically. We are not a short-term shitcoin combined with the punishment mechanism of community consensus. We’ll cross more chains. More convenient and varied.

Our mixing effect is better, because our anonymous transaction mining reward = users’ daily transaction amount/total transaction volume.

In order to increase the share, users will repeatedly swipe transactions, which will help increase fee income.

Onion Mixer’s anonymous transaction mining mechanism is similar to the one in traditional exchanges. That is, every transaction made by a user on Onion Mixer will be rewarded by percentage of OMT tokens.

After each coin mixing service, Onion Mixer will charge a fee of 0.1% to 1% per transaction depending on the chain. 50% of this fee will go to the team, and the remaining 50% will be injected into the OMT transaction pool.

I AM | Chris:
you have a huge total supply , will there be an expectation for token burning?

Onion Mixer:
Anonymous transaction mining will encourage users to use Onion Mixer protocol more often for coin mixing. For a mixing protocol, high-frequency transactions mean higher anonymity; the fees charged from high-frequency transactions will be reinjected into the mixing pool, which contributes to improving the depth of the mixing pool and enhancing the anonymity effect.

I AM | Chris:
I see

Onion Mixer:
In addition, unlike traditional transaction mining, Onion Mixer’s “anonymous transaction mining” incorporates an exit penalty mechanism to effectively curb the speculative behavior of short term traders and further guarantee the safety of transaction mining. This penalty mechanism also contributes to maintaining a stable market performance of OMT, guiding users to rational and sustainable investment, and guaranteeing the continuous and steady revenue growth of investment.

I AM | Chris:
Q2. Onion Mixer has what it calls anonymous transaction mining which is said to be similar to "transaction mining" on traditional exchanges, how does this anonymous transaction mining work, and how they get imbalanced or earning from this anonymous transaction mining.

from @alamsya15372512

Onion Mixer:
In the Onion Mixer protocol, any user can earn rewards by adding liquidity to OMT transaction pool. Liquidity mining creates a really powerful incentive for Onion Mixer's early users who are encouraged to actively add liquidity and participate in the protocol. In this way a "flywheel effect" forms.

Onion Mixer's liquidity mining is similar to other DeFi projects': in Onion Mixer's Tokenomics, 10 billion (10%) OMT will be used to reward liquidity providers. When the Onion Mixer protocol is launched, OMT tokens will be unlocked from the "liquidity mining" reserve on a daily basis by blocks as a liquidity incentive to reward liquidity providers in PancakeSwap and other DEXs.

Users who provide liquidity to the OMT transaction pool will receive a corresponding share of tokens, i.e., LP Token which can be staked on the liquidity rewards page. Users then will receive a corresponding share liquidity rewards (staked LP Token / total staked LP Token). The staked LP Token can be retrieved at any time.

OMT tokens for liquidity bonus will be released per block and will go directly to the OMT staking pool. Users can enjoy the dividends from the staking pool immediately. There is no lock-up requirement. OMT can be withdrawn at any time, but the withdrawal will trigger a "penalty mechanism", i.e. users will be charged 10% of OMT when withdrawing from the staking pool, of which 4% will be used to reward other "loyal users" holding OMT in the staking pool.

I AM | Chris:
Q3. Is it only inspiration that is derived by Onion Mixer from Tor Network or you have a relationship with them as well in some form ?

from @static_current

Onion Mixer:
Yes, the name Onion Mixer is inspired by TOR (The Onion Router)--the origin of cyber anonymity.
TBH, we are deeply engaged in privacy transactions, so the partner is not particularly important for us, we need to let more people know about us, because we are solving the privacy transaction problem of hundreds of billions of dollars per year.

However, what I can disclose at present is that we have contacted the top DEFI platforms in BSC, such as DODO, DEGO, Pancake, etc., and have reached in-depth cooperation with them and they are very optimistic about our development and planning.

We are going to do a series of interesting market movements, please follow our official channels on Twitter and Telegram, so you don’t miss a lot of interesting events.

• Community ask questions from Website

I AM | Chris:
Website Questions

Q1. Onion Mixer adopts a coin mixing approach combining “CoinJoin” and “zero-knowledge proof”. Can you explain this to us a little more? What are these two things? Why did you decide to combine these two concepts? What are the benefits of this decision?

Telegram Username: @Crypto_FansS2

Onion Mixer:
Onion Mixer not only follows CoinJoin's core principle of cutting the connection between transaction input and output addresses but also has made some improvements.

Because of the connections between transaction addresses, certain private information can be inferred by analyzing the content of the public ledger. An intuitive protection solution is to use an intermediate mixer to obfuscate the relationship between input and output addresses.

For short, the intermediate mixer server shuffles the multiple inputs and then sends outputs in an order generated by random sorting.

As for Zero-knowledge proof, it is a cryptographic proof that allows one party to prove it possesses certain information (or assets) without revealing that information. For Onion Mixer, it is to prove that the user has deposited an asset in the smart contract and has never withdrawn the asset, and the proving process will not reveal the specific asset.

By comning this two technology, Onion Mixer can achieve true anonymous trading.
These super idea comes from our Onion members, who are mainly senior programmers from Funderclub, Personal Capital, Xapo, Blockai, Microsoft and other well-known blockchain enterprises. They are really talent and experienced.

I AM | Chris:
Q2. You will launch the INO, Initial NFT Offering with DEGO on June 8th. Why did you decide to partner with DEGO? How does this partnership benefit both ecosystems and communities?

Telegram Username: @emidm28

Onion Mixer:
Thank you for asking. Yes, Onion Mixer will launch INO on dego on June 8th, and will do IDO on DODO on June 15th.

we are glad to have long-term relationship with both dego and DODO. Because both of them have a very mature and thriving ecosystem on BSC, and their products are highly innovative and safe. This is also the characteristic of Onion products and reflect the core value we stressed in DEFI.

As the leading platform of NFT platform, our cooperation with Dego will bring more diversified development space for Onion.

And he in-depth cooperation between the DEFI platform represented by DODO and Onion represents their recognition of our products.

Privacy protection and anonymous trading will be the next hot spot for DEFI. We hope to have the opportunity to carry out all-round and deeper cooperation with our partners in technology, operation and so on.

I AM | Chris:
Q3. What happens when there’s an accidental leakage of the content of a transaction voucher to a third party? Will users still be safe??

Telegram Username: @Kerzy_F

Onion Mixer:
Currently, our contract has been audited by Certik
In addition, we will set up a security reward when we go online,
These rewards will come out of our marketing partner budget, which can be followed by our announcements and community.

We are absolutely safe, and I say this with confidence because we have had a very successful experience.
Our code is tested by practice and time!

We have a lot of technical experience in previous projects, and we once launched an experimental product that reached $500 million in trade in two weeks without any publicity.

This experimental product has never encounter any problems, and we have all taken multi-signature wallets
It is difficult for hackers to steal assets

Follow Us On Our Various Social Media Communities For More Update;
Website: https://t.me/OnionMixerOfficial
Website：https://onionmixer.com
Twitter：https://mobile.twitter.com/onionmixer
Medium：https://medium.com/@onionmixer
Telegram：https://t.me/OnionMixerOfficial
Discord: https://discord.gg/Kw44Rxg4
GitHub: https://github.com/Onion-Mixer
Gitbook: https://onionmixer.gitbook.io/onion-mixer/

• Telegram Live Questions answered by Onion Mixer

Onion Mixer:
Thank you for interesting! First, We have mixing pool.The anonymous pools on the Onion Mixer protocol are called "mixing pools".
The mixing pool is characterized with three distinctive advantages.
(1) Higher anonymity efficiency
(2) More types of crypto assets supported
(3) Customized incentives scheme to attract more users

Third, Liquidity mining
In the Onion Mixer protocol, any user can earn rewards by adding liquidity to OMT transaction pool. Liquidity mining creates a really powerful incentive for Onion Mixer's early users who are encouraged to actively add liquidity and participate in the protocol. In this way a "flywheel effect" forms.

Forth, In order to enhance the value consensus of OMT tokens, Onion Mixer has set up the OMT pstaking pool, which functions as a "revenue aggregator" on the Onion Mixer protocol. Users can continuously receive dividends from the staking pool as long as they deposit their OMT tokens into the pool, i.e. "holding mining".

1.Jamun Da:
🔰Q.Have you met all your goals in the roadmap till now? And were there any difficulties that you didn’t expect and were not prepared for?

Onion Mixer:
First, we have a clear roadmap

Q1:
Create the coin mixer on BSC to give full play of its large user base, low transaction fees, fast transaction speed and well-developed ecology
😝 Q2:
After accumulating sufficient transaction volume, we will support users to trade their assets on other public chains anonymously, including but not limited to ETH, HECO, TRON, POLKADOT, etc.
🤩 Q3: ‌
Improve the protocol to make it friendly to DAPP ecology. Users can mix their coins immediately after joining in Onion Mixer and receive deposit credentials that are generated in a timely manner. They will also be earning benefits from transaction mining anonymously.‌
😍 Q4:‌
Become the technological infrastructure for anonymous cross-chain transactions in the blockchain and be the leader in this field‌
Become the underlier protocol for anonymous cross-chain transactions and be compatible with all DeFi projects.

Up for now, everything goes really well, and we believe we can achieve all goals step by step

2.ÇRYPTÖ DÜDË:
For a great project development first of all main priority is having enough fund. Does Onion mixer team financially capable to run this project? Do you have enough fund for Onion Mixer developement Can you tell us that how Onion Mixer generate the profit

Onion Mixer:
First, team members went to a lot of money in this industry
At least everyone has millions of dollars of assets
Second, our project has just finished private sale and will launch IDO, it is not only for money, but more resources
Finally, we believe that all people involved in this project, for privacy, not for money
We will keep our initial vision and complete our mission

3.Rita:
Does your foundation only peoply of your own country or all over the World?

Onion Mixer:
We are a global team, most members of our team comes from Germany, France, America and China

Now, the tele group of Onion Mixer has more than ten thousand members,

and besides English group, we also have a Chinese group and other local group

https://t.me/OnionMixerOfficial

You can join us to learn more about Onion Mixer