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Technical Analysis

Why We Are Removing NOM: Onomy Protocol Review

Published: Aug 8, 2024
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The original thesis for the Onomy protocol was that it could bring the FOREX market on-chain by implementing a reserve system that would back a basket of on-chain fiat derivatives.

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Why are we removing NOM?

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Simply put, they're taking far too long to implement what they set out to do. Additionally, when not backed by a working product, the bonding curve token release schedule has been detrimental to price action. This is a clear-cut invalidation we outlined in the initial report.

Disclaimer: This is not financial or investment advice. You are responsible for any capital-related decisions you make, and only you are accountable for the results.

 

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