What is Onomy Protocol (NOM)? The Future of Secure and Efficient Blockchain Transactions

Check Today's Crypto Market:

Bittime - The world of blockchain is growing rapidly with new projects emerging every day. Among these projects, Onomy Protocol (NOM) is attracting attention as a platform specifically designed for decentralized finance (DeFi) and Web3 applications .

What is Onomy Protocol (NOM)?

Onomy Protocol is a Layer 1 blockchain designed specifically for decentralized finance ( DeFi ) and Web3 applications. Built with the Cosmos SDK, Onomy offers high scalability, security, and interoperability, making it an ideal platform for a variety of blockchain applications.

Onomy Protocol (NOM) Key Products & Features

• Onomy Network: A secure and scalable Layer 1 blockchain for DeFi and Web3.
• Arc Bridge: An interoperability bridge that connects Onomy Network with various other blockchains.
• Stablecoins: Onomy provides stablecoins that are pegged to fiat currencies, such as USD and EUR.
• Onomy DEX: Decentralized exchange (DEX) for safe and efficient trading of digital assets.
• Onomy Staking: Stake NOM to earn rewards and help secure the network.

Also read: What is Dymension? Future Networking for Innovative RollApps

What is NOM Token?

The NOM token is the native token of the Onomy Protocol which has several important functions:

• Security: NOM staking helps secure the Onomy network through Proof-of-Stake ( PoS ).
• Governance: NOM holders can participate in the governance of Onomy DAO and vote on important proposals.
• Fees: NOM is used to pay transaction fees on the Onomy Network.
• Collateral: NOM can be used as collateral to borrow stablecoins.

Tokenomic Token NOM

• Total Supply: 100,000,000 NOM
• Distribution:
  • 30% - Onomy Team
  • 25% - Public sale
  • 20% - Staking rewards
  • 15% - Onomy Ecosystem
  • 10% - Reserve fund
• Deflationary: NOM has a deflationary mechanism where 0.1% of each NOM transaction is burned.

Also read:

Onomy Protocol (NOM) Fundamental Analysis

• Team: Onomy has an experienced team with backgrounds in blockchain, finance, and technology.
• Technology: Onomy uses the latest blockchain technology to deliver high scalability, security and interoperability.
• Community: Onomy has a thriving community with many enthusiastic developers and users.
• Roadmap: Onomy has a clear roadmap with many new features and products planned for launch in the future.

Comparison of Onomy Protocol (NOM) & Competitors

Onomy Protocol (NOM) Price Prediction 2024

Accurately predicting cryptocurrency prices is impossible, as they are influenced by a variety of complex external and internal factors. However, based on data processing by Bard Google from CoinMarketCap and CoinGecko, the following is the estimated price of Onomy Protocol (NOM) in 2024:

Optimistic Scenario:

• Highest Price: IDR 8,000 - IDR 10,000
• Supporting factors:
  • Widespread adoption of Onomy Protocol in the DeFi and Web3 sectors
  • Launch of innovative new products and features
  • Increased investor interest in blockchain projects

Neutral Scenario:

• Average Price: IDR 5,000 - IDR 6,000
• Supporting factors:
  • Steady growth of the Onomy community
  • Continuous development of blockchain technology
  • Stable global economic conditions

Pessimistic Scenario:

• Lowest Price: IDR 3,000 - IDR 4,000
• Supporting factors:
  • Competition is fierce in the blockchain industry
  • Negative market sentiment towards cryptocurrencies
  • Regulatory uncertainty regarding cryptocurrencies

Keep that in mind

• This prediction is only an estimate and cannot be used as an investment reference.
• Conduct in-depth research and analysis before making an investment decision.
• Consider risk factors and portfolio diversification to minimize losses.

Factors that may influence the price of NOM in 2024

• Onomy Protocol Adoption: The more users and developers that use Onomy, the higher the demand for NOM tokens, and potentially the price.
• New product and feature launches: Onomy has an ambitious roadmap with many new features and products planned for launch. A successful launch can increase investor confidence and drive up the price of NOM.
• Global economic conditions: If the global economy experiences a recession, it is possible that NOM prices will fall.
• Cryptocurrency regulation: Regulatory uncertainty may make investors hesitant to invest in cryptocurrencies, including NOM.

Conclusion

Onomy Protocol is a promising blockchain project with a lot of potential. With a focus on DeFi and Web3, Onomy has the opportunity to become a leading platform in the future.

Cutting-edge technology, an experienced team, and a fast-growing community make Onomy an attractive investment option for crypto investors.

How to Buy Crypto on Bittime

You can buy and sell crypto assets in an easy and safe way via  Bittime .  Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

To be able to buy crypto assets on  Bittime ,  make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into  your wallet . For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. 

Learn  Complete Guide How to Buy Crypto on Bittime .

Monitor price chart movements  for Bitcoin (BTC),  Ethereum (ETH ),  Solana (SOL)  and other cryptos to find out today's crypto market trends in real-time on Bittime.

Also read:

What is Victory (VIC)? New Opportunities in the Blockchain World

What is Phoenix (PHB)? A Financial Revolution

What is BENQI (QI)? Changing the Way of Staking AVAX in the Web3 Era

DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.