Technical Analysis

Why We Are Removing NOM: Onomy Protocol Review

Published: Aug 8, 2024

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.

Why are we removing NOM?

image7-1

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.

Get started for free

Create your free account or log in to read the full article.

I agree to receive onboarding links and appointment reminders from Cryptonary via SMS.

By signing up, you agree to our Terms & Conditions

Recommended from Cryptonary

This Week's Setup: Fed Hawkish Cut Ahead?

PRO

Market Updates

This Week's Setup: Fed Hawkish Cut ...The market is preparing for a big announcement from the Fed. It sounds complicated, but the idea is ...

8 min read

Dec 8, 2025

BTC, ETH and More: Key Levels Are Being Rejected

PRO

Market Direction

BTC, ETH and More: Key Levels Are B...With volatility compressing and major assets colliding with critical zones, the market is setting up...

10 min read

Dec 5, 2025

Market Update: BTC Relief Rally Faces Resistance

PRO

Market Updates

Market Update: BTC Relief Rally Fac...Markets are moving fast, and every data release seems to shift the narrative. Weak labour prints, so...

8 min read

Dec 5, 2025