Gate News message, April 27 — Onyxcoin (XCN) began trading on a major South Korean cryptocurrency exchange on April 27 at 4 PM KST, available in Korean won (KRW) and Tether (USDT) pairs. Deposits and withdrawals for XCN became available approximately 1 hour and 30 minutes after the listing.
Only the Ethereum network is supported for XCN transfers; deposits from other networks will not be accepted. The exchange implemented temporary trading restrictions: buy orders were limited for the first 5 minutes, sell orders below 10% of the previous day's closing price were prohibited during the same period, and only limit orders were valid for the first two hours. Trading start time could be delayed if liquidity proves insufficient.
Onyxcoin is a Layer 3 blockchain solution built on Arbitrum Orbit infrastructure, utilizing the AnyTrust data access solution for consensus via the Base network. The XCN token serves multiple functions including transaction fees, staking, governance, and service payments.
