Cosmos-based DeFi protocol Onomy announced that it would officially launch its native token NOM. 
The NOM token will be launched on December 6 at 15:00 UTC. It is used for transaction fees, cross-chain fees, staking, governance, collateral, etc.
$NOM is coming. Here's everything you need to know! 6th of December, 3pm UTC. https://t.co/aSjIGh5jxA
— Onomy Protocol (@OnomyProtocol) December 2, 2022
The genesis supply of NOM is 100 million, 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.
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 can 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.
Backer, team, and advisor tokens are vested for 24–36 months, with a 12-month cliff. In contrast, 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.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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