# Onyx Overview Onyx (by Enzyme Protocol) is a set of EVM-compatible smart contracts to tokenize on- and off-chain value. The purpose of this document is to provide a high-level overview of the aims, architecture, governance, and idiosyncrasies. What it does: * creates an ERC20 tokenized representation of shares * supports arbitrary deposit and redeem mechanisms, e.g., async queues * supports customizable fees * supports customizable tracking of credits and debts What it does NOT do: * monitor, track, or restrict what actually happens with the tokenized value i.e., the on-chain component of Onyx is only concerned with Shares on/off-boarding, fees, and misc accounting; not asset management itself. ### Example FooBar has wallets spread across Arbitrum, Ethereum, and Solana, and holds US Treasuries off-chain. FooBar deploys "FBAR" shares on Arbitrum via Onyx. They add a management and performance fee. They add an async deposit requestor and a first-come, first-served redeem queue.\ \ FooBar adds a line-item expense of $12,000 for an account administrator, to be written-down linearly over 12 months.\ \ After 1 month, FooBar's administrator totals the value of all asset holdings across all on- and off-chain accounts, and posts the total value of holdings. The linear debt simulates a $1,200 (10%) write-down, and then fees are run against the net value. The final NAV share value is stored on-chain. In the meantime, depositors and redeemers have made requests to their respective deposit and redeem handlers. An administrator executes all requests at the lastest NAV share value. --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://docs.enzyme.finance/onyx-protocol/onyx-overview.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.