DeFi protocol Onomy will officially launch native Token NOM on December 6

According to BlockBeats, December 3rd, the Cosmos based DeFi protocol Onomy announced that it will officially launch its native Token NOM on December 6th, which can be used to pay for transactions, cross-chain and other fees, as well as for pledges and governance votes. And maintain the operation of the Onomy network and other functions. In addition, the Onomy Exchange will use some of the fees collected to buy back and destroy the NOM. The initial supply of NOM is said to be 100 million, with 45% allocated to an on-chain Treasury managed by the DAO, 20% to support market makers, validators, coins on trading platforms, incentive plans, etc., 20% to early backers and partners, and 15% to teams and advisers. Supporters, teams, and consultants' Token shares are locked in for 12 months, followed by a linear release for another 24 to 36 months. As previously reported by BlockBeats, on November 23, the company announced a $10 million funding round from Bitfinex, GSR Markets, Ava Labs, CMS Holdings and DWF Labs, Funding will be used to expand the team.