Latest News
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
Powered by WPeMatico
Latest News
ICEYE, a Finnish Earth observation company, has successfully raised $93 million in a growth funding round led by Solidium Oy, a Finnish state-owned investment company.
Latest News
Ramp has recently secured an impressive $150 million in its Series D-2 funding round, solidifying its valuation at a robust $7.65 billion.
Latest News
RepTrak Announces 2024 Global RepTrak® 100 Report
BOSTON, April 18, 2024 /PRNewswire/ — The RepTrak™ Company, the world’s leading reputation data and insights company, released its annual Global RepTrak 100 report. Utilizing its advanced reputation monitoring software, RepTrak gathered data from more than 243,000 survey responses across 14 major economies to rank the world’s 100 most reputable companies. They share that ranking alongside a full analysis of global corporate reputation trends and corresponding public sentiment in the 2024 report.
After two years of consecutive Reputation Score declines, this year’s Score is back up with an increase from 73.2 in 2023 to 73.8 in 2024. It’s a small increase after 2023’s full one-point drop. However, it’s an encouraging sign that companies have begun to recover from reputation falls driven by many challenges: macroeconomic issues, workplace difficulties, product problems, and corporate responsibility skepticism.
“This year’s report underscores a pivotal shift in the corporate landscape, spotlighting the remarkable adaptability and dedication of the Top 100 companies in responding to the dynamic needs of stakeholders,” states RepTrak CEO Mark Sonders. “The companies featured in our report are not just riding the wave of change; they are the ones steering it, proving that the best approach to business is one that embraces evolution and champions progress.”
RepTrak’s report explores how people thought, felt, and acted toward companies over the past year. Findings include notable increases in Conduct and Citizenship efforts, stakeholders’ rising willingness to invest, culturally resonant brand communications, and ESG Scores that soared despite skepticism around the acronym.
To read the full 2024 Global RepTrak 100 report, please visit: www.reptrak.com/globalreptrak
About RepTrak
The RepTrak™ Company is the world’s leading reputation data and insights company. We help companies by organizing and grading a variety of reputational elements, offering a real-world report card on their corporate reputation. Subscribers to the RepTrak program use our predictive insights to protect business value, improve return on investment, and increase their positive impact on society. RepTrak’s pairing of advanced metrics and dedicated reputation advisors offers clients an actionable analysis of their reputation data, aligning business objectives with stakeholder sentiment across different markets and sectors.
Established in 2004, The RepTrak Company owns the world’s largest reputation benchmarking database, gathering over 1 million company ratings per year used by CEOs, boards, and executives in more than 60 countries worldwide. For more information, please visit: www.reptrak.com
Logo – https://mma.prnewswire.com/media/2391550/RepTrak_Logo_Logo.jpg
Photo – https://mma.prnewswire.com/media/2391551/2024_GRT_Spreads__Instagram_Post.jpg
View original content:https://www.prnewswire.co.uk/news-releases/reptrak-announces-2024-global-reptrak-100-report-302121513.html
-
Latest News6 days ago
DEMAND AT ASIAN FACTORIES RISES AT STRONGEST RATE IN OVER 2 YEARS, IMPROVING NEAR-TERM GROWTH OUTLOOK FOR MANUFACTURING WORLDWIDE: GEP GLOBAL SUPPLY CHAIN VOLATILITY INDEX
-
Latest News7 days ago
Bitrue Gears Up for 2024 Bitcoin Halving with Trading Competition
-
Latest News7 days ago
Global Airlines Appoints New Head of Finance from KPMG
-
Latest News5 days ago
“The Hainan FTP and Me”: Looking at Hainan’s Transformations
-
Latest News6 days ago
Spendesk combines procurement with spend management through Okko acquisition
-
Latest News7 days ago
BtcTurk Organizes Half Marathon in Istanbul to Celebrate Halving Period
-
Latest News4 days ago
Millions of people unite around doing good on the 18th International Good Deeds Day held yesterday worldwide
-
Latest News7 days ago
Bitget to Take Center Stage at Blockchain Life and Token2049 Dubai