Dear Osmosis fam,
NOM was listed on Osmosis Frontier in January of 2023 to stand up the IBC channels and test successful transfers. As NOM has been listed on leading CEXs, the community wants to expand Onomy’s footprint into the Osmosis community.
The Onomy DAO would now like to move off Fronter and into the main Osmosis front-end, and to this end, sponsor external incentives paid out in NOM that would be matched in OSMO via swap fee subsidies.
Matched liquidity incentives for NOM/OSMO
Onomy’s contributors have deployed a gauge of 20K NOM incentives over 84 days beginning July 31.
In addition, Onomy’s DAO will be deploying 10K NOM incentives that would be bolstered by the Osmosis matching program if this proposal passes to provide OSMO incentives. Based on popularity and community feedback, these incentives will be adapted long-term via future governance votes. Hence, this proposal requests Osmosis to match the following in OSMO:
- 10K NOM
- Gauge will be loaded by 2nd August 15:00 UTC
- 13th August 15:00 UTC start time
NOM’s existing listings
As a Cosmos app-chain, Onomy has been natively integrated and listed by exchanges like KuCoin, Bitfinex, Gate, Bitget, MEXC, and others, totalling an average of $1M daily volume, and a peak of $66+ million in daily volume.
Osmosis is the first DEX Onomy’s NOM is listed on, and suffice to say, the nomad community is excited about the opportunity these incentives will provide, further decentralizing the means to trade NOM.
What is Onomy?
Onomy is a Cosmos-based, vertically-integrated ecosystem designed to converge Forex and decentralized finance.
The DAO has deployed:
- The Onomy Network: Cosmos-based layer-1 provider chain secured by Cosmos-native validators like Cosmostation, Chorus One, Citadel One, and others. Integration of Replicated Security is intended to host Onomy’s Exchange and other products as consumer chains to Onomy - not a general purpose competitor to the Cosmos Hub.
- Arc Bridge Hub: bridging solution integrating the IBC and many EVM chains like Ethereum, Polygon, Avalanche, Fantom, and more, designed to bring extensive liquidity into Cosmos as upcoming products outlined in the Onomy Improvement Proposals are launched.
Onomy is integrated in:
- Ledger Live
- Cosmostation Extension wallet
- IBCWallet on Mobile
- Leap Wallet
Validators include Cosmostation, Chorus One, Citadel.One, Pendulum, and is in preparation for a validator set expansion.
Onomy’s Improvement Proposals include:
- The Onomy Exchange: novel hybrid cross-chain DEX fusing an on-chain orderbook UI with AMM liquidity pools creating a powerful, zero-fee approach to trading that supports market, limit, stop loss orders, and advanced charting.
- The Onomy Reserve: Onomy’s solution for decentralized stablecoins, in development alongside the brightest minds in the industry.
NOM is Onomy’s native coin, used for securing the network through staking, governance + on-chain treasury management in the Onomy DAO, transaction fees, and upcoming utility as highlighted in the OIPs. $NOM stakers are to receive rewards from consumer chains.
Onomy and Cosmos
The Onomy DAO subscribes to the app-chain thesis, is working closely with key Cosmos contributors, is soon deploying public goods to the ecosystem, and has provided tons of educational content about Cosmos, the IBC, and the interchain.
Here’s a few to go with your morning tea!
Onomy’s DAO contributors are excited to hear your thoughts, address questions, and do everything in their power to facilitate ongoing partnerships as both ecosystems grow and flourish.