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Onomy Protocol to Spearhead Institutional Adoption of DeFi
Casper, Wyoming–(Newsfile Corp. – December 2, 2021) – Onomy Protocol has announced the creation of a financial infrastructure designed to further connect and advance the decentralized finance (DeFi) space after recent months have unveiled how decentralization is improving the world’s financial system by enacting code-governed protocols that empower communities worldwide. Building on the trustless nature of blockchain to increase yield opportunities, while reducing counterparty risk and operational inefficiencies, DeFi is rapidly onboarding institutional and retail users. Adoption is now expanding beyond the crypto-natives and entering mainstream audiences, with hedge funds, banks, VCs, and retail customers deploying their assets on-chain.
In light of this ‘great financial migration’ – a term used to define the crystallisation of assets in the on-chain environment, Onomy Protocol is mending the current pain points and building a financial ecosystem to spearhead DeFi’s journey. As a layer-1 blockchain network powering a hybrid decentralized exchange, a stablecoin minting system, and a DeFi access wallet, Onomy plans to become the de-facto gateway to intuitively enter and exit any asset ecosystem, while serving as the world’s decentralized reserve bank.
Onomy’s hybrid DEX employs an Automated Market Maker (AMM) and decentralized order book system to facilitate simple cross-chain trading between the crypto assets and Forex pairs. This creates significant opportunity for institutions to exchange currency within a secure environment that does entail surrendering asset custody to a third party, while still retaining the advanced functionality once limited to centralized exchanges, like interoperability between blockchain economies, limit orders, stop loss orders, and advanced charting.
To meet the needs of the institutions trading at volume and pace internationally, blockchains need to have the fast throughput and settlement finality to keep up. It’s well known that 1st generation blockchains like Ethereum, at least in their current guise, don’t have the operational capacity to handle international finance at a grand scale. Onomy Protocol’s Cosmos-based blockchain is built specifically for high throughput and efficiency. By plugging into the Inter-Blockchain Communication Protocol and building custom bridges to other chains including Ethereum, Near, Avalanche, Cardano, and others, cross-chain swaps become simple to everyone.
Onomy Protocol has announced plans to on-board the $6.6 trillion per day Forex market into DeFi, by enabling anyone to mint their own fiat representations on-chain. These decentralized stablecoins are minted into circulation by locking Onomy’s utility token NOM, as collateral, with rebalancing mechanisms enacted to maintain the peg. Financial institutions, enterprises, and individuals may therefore diversify their fiat portfolio, issue payments, settle international balances, and engage with DeFi yield opportunities without exposure to volatile assets.
Through Onomy’s DeFi access wallet, assets deployed on multiple chains may be managed via a single interface, simplifying ease of use and adoption whilst facilitating more complex operations like governance voting or staking.
Aiding institutional adoption of decentralized finance, Onomy’s products are compliant with regulatory frameworks and remain secure through multiple third-party audits and formal software certification conducted by Informal Systems and IBM’s RedHat.
Media Contact:
Daniel Dob
Email: [email protected]
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/106373
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eWTP Arabia Capital’s Technology Fund I Recognized as Top Performing VC Fund in the Preqin League Tables
RIYADH, Saudi Arabia, May 19, 2024 /PRNewswire/ — eWTP Arabia Capital Technology Fund I (“Techology Fund I”), managed by eWTP Arabia Capital (“eWTPA”), one of the leading private equity firms in the Middle East, was listed in the Preqin League Tables as the the fifth top-performing VC funds in the US$250 Million to US$499 Million category by net Internal Rate of Return (IRR) for vintages between 2015-2020.
“We’re delighted by the recognition of our Technology Fund I as a top-performing VC fund in our sector,” expressed Jessica Wong, Founder and Managing Partner of eWTPA. “This milestone underscores the commitment of our team and the robustness of our investment strategy. It also underscores the significant growth potential of the Middle East and North Africa market, particularly in Saudi Arabia, warranting attention. As a pivotal driver of technological advancement in the region, we’re steadfast in our mission to empower entrepreneurs and deliver value to our investors.”
“Being recognized by Preqin validates our hard work and dedication to supporting and actively contributing towards building the Saudi digital ecosystem,” said Jerry Li, Founder and Managing Partner of eWTPA. “As eWTPA continues to grow and expand its investment portfolio, it remains committed to fostering innovation and driving positive change in Saudi, the GCC and the global emerging markets ecosystem.”
eWTPA has demonstrated exceptional performance, solidifying its position among industry leaders. This recognition underscores eWTPA’s commitment to identifying high-potential market opportunities and generating returns for its investors.
The Preqin League Tables are regarded as a comprehensive and authoritative ranking system for private equity and venture capital performance. Preqin, a leading data provider in the alternative assets industry, compiles these league tables based on various performance metrics, including net Internal Rate of Return (IRR) and other key indicators.
eWTPA’s success reflects its strategic approach to investing high-growth sectors in the MENA region. The firm’s portfolio includes a diverse range of companies poised to make a significant impact on their respective industries.
Acting as a bridge between Asia and the Middle East, eWTPA’s Technology Fund I has achieved significant success since its inception in 2019. The Fund has invested in over 18 companies, several of which have successfully established themselves in KSA, like J&T Express, Raha, Sahm and COFE.
About eWTPA:
Founded in 2019, eWTP Arabia Capital is an investment firm based in Saudi Arabia and China. Backed by marquee regional and international Sovereign Wealth Funds, Institutional investors, and family offices, eWTPA helps create robust local digital ecosystems in the MENA region by partnering with market-leading international businesses and providing a gateway for these companies to establish a strong and sustainable presence in the region. To date, eWTPA has invested in over 18 companies, 13 of which have already established themselves successfully in KSA.
Media contact:
Haile Liao
+966 0530868568
[email protected]
Photo – https://mma.prnewswire.com/media/2416426/eWTP_Preqin.jpg
View original content:https://www.prnewswire.co.uk/news-releases/ewtp-arabia-capitals-technology-fund-i-recognized-as-top-performing-vc-fund-in-the-preqin-league-tables-302149554.html
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