Search…
Introduction
The NOM Token
Architecture
Validators & Staking
Run a Full Node
Governance
Founding Philosophy
Contributors
What Is NOM?
NOM is Onomy Protocol's native coin that provides users with significant utility across Onomy Network's ecosystem of applications.
Staking
When NOM holders delegate their NOM to a validator, they are staking. Staking provides rewards in return for delegating to validators who support the security and operations of a blockchain network.
Collateral
NOM is the single collateral to Onomy's Denom stablecoins. Upon locking the token into the Onomy Reserve, users may easily mint Denoms pegged to the world’s major currencies.
Properties of NOM as Perfect Collateral
- Malleable: Ability to mint any denomination of a stabilized virtual currency
- Scarce: Predefined release into circulating supply and burning of supply
- Transferable: Transactions on the Onomy Network finalize near instantaneously
- Durable: Secure decentralized system capable of self-stabilizing from attacks
- Verifiable: Anonymous accounts are publicly verifiable on the network
- Fair: Transactions are ordered by which arrives at the most nodes first
Governance
DAO (Decentralized Autonomous Organization) is an organization represented by rules encoded as a transparent computer program, controlled by the organization members, and not influenced by a central government. As the rules are embedded into the code, no managers are needed, thus removing any bureaucracy or hierarchy hurdles.
Onomy will be governed by the Onomy DAO, providing NOM holders with the opportunity to guide the decision-making process through NOM-weighed votes.
AMM Keeper Bots
NOM is programmatically purchased and removed from supply by Keeper bots observing AMM liquidity pool rewards from the Onomy Exhange (ONEX). This provides perpetually growing deflationary pressure on NOM as exchange volumes grow.
Additional documentation to come.
Copy link
Edit on GitHub