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Onomy has inspired a global set of contributors and community members across the globe to launch an ecosystem that will be decentralised from day one, inclusive of an on-chain DAO-governed treasury. After a highly-successful testnet with 800,000+ transactions, Onomy has now launched mainnet.

$NOM, as the native coin, will underpin the Onomy ecosystem, so here’s everything you need to know.

Onomy’s Bonding Curve launches Tuesday, the 6th of December, at 3pm UTC.

The only official link is: https://bco.onomy.io/

What Does $NOM Do?

In short — transaction fees, bridge fees, rewards for helping to secure the network via PoS staking, governance, collateral, and multiple tie-ins within Onomy’s products.

As part of Onomy’s Layer-1 network and Arc Bridge Hub, $NOM is used to cover the fees associated with transactions occurring within the ecosystem. As a Tendermint BFT based chain via the Cosmos SDK, fees are minuscule most of the time, aiding scalability.

$NOM is staked to secure the Onomy Network, which uses Proof-of-Stake consensus. By bridging tokens from the bonding curve and bonding them with validators, delegators are able to earn rewards for securing the network. Staking rewards are programmatically adjusted depending on the staking ratio and inflation rate, which are pre-determined before launch and can only be changed post-launch by DAO-vote. See more about Onomy’s expected staking rewards here.

$NOM will also confer governance rights to holders who can vote on proposals about the direction of the protocol in the Onomy DAO. Possible proposals include the deployment of new features, funding community initiatives, marketing and developer teams, changing the blockchain and/or product parameters, and more.

$NOM is further integrated into products, such as the Onomy Exchange. The Onomy Exchange uniquely does not charge static fees to users who trade — instead, the AMM still collects fees by capturing the spread between the bid and the ask, as a normal market maker does. These earnings are then shared with LPs and used to programmatically buy and burn $NOM and deflate the overall supply over time without any central management whatsoever.

$NOM will also play a central role in bringing Forex markets on-chain.

$NOM Markets and Availability

$NOM will first be obtainable by swapping $ETH for bNOM via the Onomy Bonding Curve, then bridging to the Onomy Network for mainnet $NOM, with the $bNOM being burned.

$NOM can then be used for all of its utility described, and users may bridge $NOM to various blockchains integrated into the Arc Bridge Hub.

The token will also be available on centralised and decentralised exchanges outside of Onomy’s ecosystem in due time.

$NOM Tokenomics

The Onomy Network has a genesis supply of 100M NOM, distributed as such:

• 45% in on-chain Treasury managed by DAO
• 20% Ecosystem to support market makers, validators, exchange listings, incentives, and more
• 20% to Early Backers and Partners
• 15% Team and Advisory

Backer, team, and advisor tokens are vested for 24–36 months, with a 12 month cliff, whereas DAO tokens are only usable following successful DAO governance votes, with the system programmatically funding proposals when approved, with no central key management by any Onomy contributor.

The $NOM supply will increase from inflationary rewards and bridges from the bonding curve.