Onomy Protocol (NOM) is a token that is used as collateral for stablecoin mining, management and remuneration. It also provides network security through staking. The token belongs to the Cosmos chain of the first level for a multi-chain and intuitive DEX. The project combines traditional with decentralized finance, simplifying the migration of foreign currency to the chain with the help of crypto-backed decentralized stablecoins, which will be used for trading, profitability and payments.

Onomy Protocol news today, NOM crypto latest news of coin ticker

Onomy Protocol

We're honored to be part of the burgeoning @NEARProtocol ecosystem, with @proximityfi just announcing $350M in #DAO #grants for #DeFi projects. #Onomy is building a hybrid cross-chain #DEX, allowing users to #trade $NEAR and other native #assets across prominent #blockchains. twitter.com/proximityfi/st…

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We're excited to be part of the burgeoning NEAR Protocol ecosystem, with Proximity Labs announcing $350M in DAO grants for DeFi projects.

Onomy is building a hybrid cross-chain DEX, allowing anyone to seamlessly trade cryptocurrencies across prominent blockchain economies. This will facilitate simpler trading of NEAR assets outside of their native blockchain, and thus further open the DeFi market to users globally. 

https://twitter.com/OnomyProtocol/status/1451180584932315143

For more information, kindly read: 

https://www.bloomberg.com/news/articles/2021-10-21/a16z-backed-blockchain-gets-350-million-grants-vehicle-for-defi

https://medium.com/nearprotocol/announcing-a-350m-grants-dao-for-near-defi-projects-186668ed427a