{"id":1323,"date":"2022-01-22T20:30:31","date_gmt":"2022-01-22T20:30:31","guid":{"rendered":"https:\/\/cryptoheretostay.com\/?p=1323"},"modified":"2022-01-22T20:30:32","modified_gmt":"2022-01-22T20:30:32","slug":"onomy-announces-a-new-bridge-its-hybrid-dex-and-forex-market-are-arriving-to-polygon","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=1323","title":{"rendered":"Onomy announces a new bridge, its hybrid DEX and Forex market are arriving to Polygon"},"content":{"rendered":"<p> <script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"crypto\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<\/p>\n<p>Onomy Protocol recently announced bridging to Polygon\u2013expanding its list of cross-chain deployments.<\/p>\n<p>Onomy\u2019s 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.<\/p>\n<h2>DeFi\u2019s first DEX that combines AMM liquidity pools with an order book UI<\/h2>\n<p>The integration will unlock Forex trading, payments, settlement, lending, and yield opportunities using Onomy\u2019s stablecoins for Polygon users.<\/p>\n<p lang=\"en\" dir=\"ltr\">@OnomyProtocol will be bridging to @0xPolygon!<\/p>\n<p>The integration will see the deployment of the first ever DEX utilizing AMM LPs &amp; an order book for cross-chain market, limit, and stop orders, as well as Onomy\u2019s Forex marketplace.<\/p>\n<p>Stay tuned for more! \ud83d\udc40https:\/\/t.co\/BKepZ8mREO<\/p>\n<p>\u2014 Onomy Protocol (@OnomyProtocol) January 21, 2022<\/p>\n<p>Onomy\u2019s hybrid DEX, dubbed ONEX, combines automated market maker (AMM) liquidity pools\u00a0 with an order book user interface (UI)\u2013enabling traders to place market, limit, stop, and conditional orders.<\/p>\n<p>Meanwhile, Polygon\u2019s full-stack Ethereum scaling solution will empower more efficient trading \u2013boosting the utility of Onomy\u2019s stablecoins, called \u2018Denoms,\u2019 within its budding dapp ecosystem.<\/p>\n<p>While Onomy\u2019s Cosmos-based blockchain, dubbed \u2018ONET,\u2019 is poised for high throughput and efficiency, custom bi-directional bridges to other major chains\u2013including Polygon\u2013leverage frictionless cross-chain swaps.<\/p>\n<h2>On a mission to onboard the Forex market<\/h2>\n<p>Issued by the Onomy reserves dubbed \u2018ORES,\u2019 Denoms are the protocol\u2019s solution for plugging Forex into DeFi.<\/p>\n<p>Users are able to mint Denoms of fiat currencies they require to execute their trades by locking the protocol\u2019s utility token NOM, as over-collateral.<\/p>\n<p>Their usage, however, is not limited to Forex trading. As Onomy expands into further ecosystems, Denoms have the potential to unlock yield opportunities across DeFi.<\/p>\n<p>Meanwhile, the protocol\u2019s utility token NOM plays a key role in the Onomy ecosystem and unlocks governance rights within the Onomy DAO.<\/p>\n<p>Onomy recently announced another inter-chain bridge between Onomy Protocol\u2019s mainnet and NEAR Protocol\u2013leveraging Aurora\u2019s Ethereum Virtual Machine (EVM) capabilities.<\/p>\n<p lang=\"en\" dir=\"ltr\">\ud83d\udce2 We are excited to be partnering with @NEARProtocol &amp; @AuroraIsNear!<\/p>\n<p>Our alliance will see a multi-chain launch of the Onomy DEX with AMM LPs &amp; an order book for market, limit, and stop orders, alongside our Forex marketplace.<\/p>\n<p>Stay tuned for more! \ud83d\udc40https:\/\/t.co\/1H1MDfP7F2<\/p>\n<p>\u2014 Onomy Protocol (@OnomyProtocol) January 17, 2022<\/p>\n<p>Onomy Access, or \u2018OACC,\u2019 is another key product\u2013designed to further DeFi connectivity by simplifying entering and exiting different ecosystems.<\/p>\n<p>While allowing users to seamlessly manage, send, and receive assets cross-chain, Onomy\u2019s non-custodial wallet also comes with an NFT collection sub-feature that simplifies managing NFTs from multiple blockchains.<\/p>\n<p><em><strong>Disclaimer:<\/strong> CryptoSlate holds a financial position in Onomy and was given the opportunity to participate in the presale of this project in exchange for news, analysis, and other types of coverage. CryptoSlate was <strong>NOT<\/strong> paid to publish this article.<\/em><\/p>\n<p><h2>CryptoSlate Newsletter<\/h2>\n<\/p>\n<p>Featuring a summary of the most important daily stories in the world of crypto, DeFi, NFTs and more.<\/p>\n<h2>Get an edge on the cryptoasset market<\/h2>\n<p>Access more crypto insights and context in every article as a paid member of CryptoSlate Edge.<\/p>\n<p>  <strong>On-chain analysis<\/strong><\/p>\n<p>  <strong>Price snapshots<\/strong><\/p>\n<p>  <strong>More context<\/strong><\/p>\n<p> Join now for $19\/month Explore all benefits<br \/>\n<br \/><script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"bitcoin\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/><a href=\"https:\/\/cryptoslate.com\/onomy-announces-a-new-bridge-its-hybrid-dex-and-forex-market-are-arriving-to-polygon\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Onomy Protocol recently announced bridging to Polygon\u2013expanding its list of cross-chain deployments. Onomy\u2019s 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\u2019s first DEX that combines AMM liquidity pools with an order book UI The integration will unlock [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1324,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[3],"tags":[],"class_list":["post-1323","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum-news"],"_links":{"self":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/1323","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1323"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/1323\/revisions"}],"predecessor-version":[{"id":1325,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/1323\/revisions\/1325"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/1324"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1323"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1323"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1323"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}