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Home All Events Onomy Bonding Curve Offering Launch

Date

Dec 06 2022
Expired!

TimeUTC

3:00 pm

Your Time

  • Timezone: America/New_York
  • Date: Dec 06 2022
  • Time: 10:00 am

Status

Active

Onomy Bonding Curve Offering Launch

Launch of the token distribution mechanism (Bonding Curve Offering) for Onomy’s native token (NOM) on Ethereum.

DETAILS
  • Launch Details
    • The Bonding Curve Offering (BCO) is the initial distribution mechanism of $NOM (native Onomy Protocol token) — DEX and CEX listings will follow shortly thereafter
    • BCO provides an instant market with liquidity before exchange listings, rather than a static-priced sale — the cost to buy the tokens is determined by the supply
    • The BCO is deployed on Ethereum, where bondingNOM ($bNOM) may be purchased and sold
    • $bNOM may then be bridged 1:1 for $NOM on the Onomy Network; burning the $bNOM in the process
    • A fee of 1% is applied per trade with the bonding curve
    • How to participate;
      • Access the Bonding Curve platform, here
      • Connect your Ethereum wallet (Metamask/Coinbase supported)
      • Buy $bNOM with ETH — the exchange rate will be displayed
      • bNOM can also be sold back to the Bonding Curve
      • Bridge bNOM to Onomy network via the platform (Note: you will need a Keplr Cosmos wallet)
      • Swap $bNOM for $NOM on the Onomy network
      • Select a validator and delegate (stake) your $NOM tokens to earn staking rewards — when undelegating, there is a unbonding period of 3 weeks before your tokens will be reflected in your Cosmos wallet
      • $NOM will be listed on DEX/CEX for trading later
  • About Onomy
    • Onomy is an interoperable layer-1 blockchain ecosystem built to converge Forex and decentralized finance
    • The ecosystem consists of;
      • Onomy network (ONET) – application-specific Cosmos-based layer 1 blockchain
      • Arc bridge – cross-chain bi-directional bridge between integrated Cosmos chains – such as Near, Aurora, Avalanche, Polygon, etc.
      • Onomy Exchange – DEX that combines AMM liquidity pools with an orderbook UI
      • Onomy Access – non-custodial multi-chain mobile wallet app
      • Onomy Reserve – governs minting of Onomy’s stablecoin; named Denoms. Denoms may be used for FX trading, payment, remittance, lending, and settlement
    • $NOM is the native governance and utility token of the Onomy ecosystem
    • $NOM utility includes;
      • secure the Onomy network through Proof-of-Stake
      • participate in governance of Onomy
      • pay for bridge fees
      • collateral for Denom stablecoins
    • $NOM holders can choose to become validators, or delegate their NOM to a validator to earn staking rewards minus a validator fee
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