Blockchain
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]
bybit lucky
Blockchain
Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin)
Blockchain technology continues to drive innovation across industries, reshaping finance, infrastructure, and philanthropy. Today’s news roundup explores exciting developments in blockchain ETFs, tokenization funding, quantum-resistant chips, public blockchain initiatives, and impactful social projects. Here’s a deep dive into the latest blockchain headlines:
BlackRock ETF Embraces Blockchain with First Muni Bond Purchase
BlackRock’s blockchain-focused ETF has made its first foray into municipal bonds, signaling increased confidence in integrating blockchain technology with traditional finance. The ETF’s strategic investment demonstrates how blockchain can enhance transparency and efficiency in bond markets.
By tokenizing municipal bonds, BlackRock aims to simplify trading and settlement processes while reducing associated costs. This development underscores the growing role of blockchain in transforming financial instruments and fostering greater market accessibility.
Source: Yahoo Finance
Plume Secures Funding for Tokenization Platform
Blockchain fintech company Plume has raised significant funding to advance its tokenization platform. The company’s innovative approach enables businesses to convert real-world assets into digital tokens, streamlining asset management and unlocking liquidity.
Tokenization is rapidly gaining traction as a game-changer in sectors such as real estate, art, and commodities. Plume’s success reflects a broader trend of investment in blockchain solutions that bridge the gap between traditional assets and decentralized technologies.
Source: Fortune
SEALSQ and Hedera Partner for Quantum-Resistant Blockchain Chips
SEALSQ and Hedera have announced a groundbreaking collaboration to develop quantum-resistant chips designed to secure blockchain infrastructure. These advanced chips will provide robust protection against future quantum computing threats, ensuring the integrity of blockchain networks.
As quantum computing capabilities evolve, safeguarding blockchain ecosystems becomes increasingly critical. This partnership highlights the importance of proactive measures in maintaining the resilience and trustworthiness of decentralized systems.
Source: The Quantum Insider
Deutsche Bank’s Public, Permissioned Blockchain Initiative
Deutsche Bank’s Layer 2 blockchain solution is set to go public and operate as a permissioned network, according to its tech partner. This initiative aims to strike a balance between accessibility and security, leveraging blockchain to streamline financial services and enhance operational efficiency.
The decision to adopt a public, permissioned model reflects a growing trend among enterprises seeking to harness the benefits of decentralization while maintaining control over sensitive data. Deutsche Bank’s approach could serve as a blueprint for other financial institutions exploring blockchain adoption.
Source: CoinDesk
KuCoin’s “Light Up Africa” Initiative Brings Hope to Thousands
Cryptocurrency exchange KuCoin has made a significant impact through its “Light Up Africa” donation ceremony in Ghana, benefiting 36,000 children across the continent. The initiative combines blockchain technology with philanthropy to address energy poverty and support education.
By leveraging blockchain for transparency in charitable contributions, KuCoin sets an example of how the crypto industry can drive meaningful social change. The project demonstrates the potential of blockchain to empower communities and foster sustainable development.
Source: PR Newswire
Industry Implications and Key Takeaways
Today’s developments highlight the transformative potential of blockchain across multiple domains:
- Integration with Traditional Finance: BlackRock’s ETF underscores the synergy between blockchain and established financial systems.
- Tokenization Trends: Plume’s funding success reflects the growing demand for digital asset solutions.
- Quantum-Resistant Technologies: SEALSQ and Hedera’s partnership addresses emerging cybersecurity challenges.
- Enterprise Blockchain Adoption: Deutsche Bank’s public, permissioned network showcases the adaptability of blockchain in financial services.
- Social Impact: KuCoin’s philanthropic efforts illustrate blockchain’s capacity to drive positive societal outcomes.
The post Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin) appeared first on News, Events, Advertising Options.
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