Onomy announces a new bridge, its hybrid DEX and Forex market are arriving to Polygon

Onomy Protocol precocious announced bridging to Polygon–expanding its database of cross-chain deployments.

Onomy’s application-specific Layer 1 blockchain, which is built with Cosmos Tendermint, powers a hybrid DEX and Forex marketplace, a stablecoin minting system, and a non-custodial wallet.

DeFi’s archetypal DEX that combines AMM liquidity pools with an bid publication UI

The integration volition unlock Forex trading, payments, settlement, lending, and output opportunities utilizing Onomy’s stablecoins for Polygon users.

@OnomyProtocol volition beryllium bridging to @0xPolygon!

The integration volition spot the deployment of the archetypal ever DEX utilizing AMM LPs & an bid publication for cross-chain market, limit, and halt orders, arsenic good arsenic Onomy’s Forex marketplace.

Stay tuned for more! 👀https://t.co/BKepZ8mREO

— Onomy Protocol (@OnomyProtocol) January 21, 2022

Onomy’s hybrid DEX, dubbed ONEX, combines automated marketplace shaper (AMM) liquidity pools  with an bid publication idiosyncratic interface (UI)–enabling traders to spot market, limit, stop, and conditional orders.

Meanwhile, Polygon’s full-stack Ethereum scaling solution volition empower much businesslike trading –boosting the inferior of Onomy’s stablecoins, called ‘Denoms,’ wrong its budding dapp ecosystem.

While Onomy’s Cosmos-based blockchain, dubbed ‘ONET,’ is poised for precocious throughput and efficiency, customized bi-directional bridges to different large chains–including Polygon–leverage frictionless cross-chain swaps.

On a ngo to onboard the Forex market

Issued by the Onomy reserves dubbed ‘ORES,’ Denoms are the protocol’s solution for plugging Forex into DeFi.

Users are capable to mint Denoms of fiat currencies they necessitate to execute their trades by locking the protocol’s inferior token NOM, arsenic over-collateral.

Their usage, however, is not constricted to Forex trading. As Onomy expands into further ecosystems, Denoms person the imaginable to unlock output opportunities crossed DeFi.

Meanwhile, the protocol’s inferior token NOM plays a cardinal relation successful the Onomy ecosystem and unlocks governance rights wrong the Onomy DAO.

Onomy precocious announced different inter-chain span betwixt Onomy Protocol’s mainnet and NEAR Protocol–leveraging Aurora’s Ethereum Virtual Machine (EVM) capabilities.

📢 We are excited to beryllium partnering with @NEARProtocol & @AuroraIsNear!

Our confederation volition spot a multi-chain motorboat of the Onomy DEX with AMM LPs & an bid publication for market, limit, and halt orders, alongside our Forex marketplace.

Stay tuned for more! 👀https://t.co/1H1MDfP7F2

— Onomy Protocol (@OnomyProtocol) January 17, 2022

Onomy Access, oregon ‘OACC,’ is different cardinal product–designed to further DeFi connectivity by simplifying entering and exiting antithetic ecosystems.

While allowing users to seamlessly manage, send, and person assets cross-chain, Onomy’s non-custodial wallet besides comes with an NFT postulation sub-feature that simplifies managing NFTs from aggregate blockchains.

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