OIP-8: Repurpose the Bonding Curve Platform into a NOM-powered Onomy Ecosystem Launchpad

Onomy Improvement Proposals (OIPs)
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OIP-8: Repurpose the Bonding Curve Platform into a NOM-powered Onomy Ecosystem Launchpad

Introduction

This OIP proposes to repurpose the current bonding curve platform into an ecosystem launchpad that uses NOM as a pair with new consumer chain coins. The objective of this proposal is to foster ecosystem expansion, provide additional utility to NOM as a utility token in Onomy’s Ecosystem, drive engagement of NOM holders, and facilitate the early distribution of new consumer appchain utility coins in a manner that prioritizes NOM holders.

Motivation

The recent upgrade to the Onomy Network introduced Replicated Security, allowing developers to deploy new appchains into the Onomy ecosystem, secured by Onomy’s Validator Set. This significant feature has the potential to drive ecosystem expansion and foster the development of innovative projects on the Onomy Network.

However, to fully leverage this opportunity and provide a way to bootstrap new consumer appchains, we propose to repurpose Onomy’s bonding curve platform into an ecosystem launchpad. The use of NOM as the pair with the new consumer chain coin would enable NOM holders to participate in the early distribution of a new consumer appchain, driving engagement and incentivizing ecosystem participation. The intention is to provide a means of active participation in the ecosystem’s growth. It is optional for NOM holders to participate, and each consumer chain is independent of the others and that success or failure of one does not necessarily impact the others.

Proposed Changes

  1. Repurpose Bonding Curve Platform: The existing bonding curve platform will be transformed into a launchpad platform for new consumer appchains leveraging Onomy’s infrastructure… The updated platform would serve as a venue for the initial distribution of new consumer chain coins.
  2. Pair NOM with New Consumer Chain Coins: The new consumer chain coins should be paired with NOM in the Bonding Curve. This pairing would not only offer additional tangible utility for NOM but also allow NOM holders to participate in the early stages of new projects.
  3. Create a Mechanism for Participation: The specifics of the mechanism for NOM holders to participate in the early distribution of new consumer chain coins should be developed and implemented. This mechanism will be designed to be fair, transparent, and accessible to all NOM holders.

Benefits

Implementing these changes would result in several potential benefits:

  1. Increased Utility for NOM: The proposed changes would give NOM additional utility as the pairing currency for new consumer chain coins, thereby increasing its intrinsic value and potential demand.
  2. Incentivized Participation: By allowing NOM holders to participate in the early distribution of new consumer chain coins, active participation in the Onomy ecosystem would be incentivised.
  3. Ecosystem Expansion: The launchpad would encourage the development and launch of new Onomy-based consumer appchains, fostering ecosystem expansion.
  4. Any remaining bNOM holders may always interact with the smart contract to obtain ETH without the need for anyone to host the platform by interacting directly with the Ethereum blockchain.

Conclusion

This proposal aims to seize the opportunity provided by the recent upgrade to the Onomy Network and the introduction of Replicated Security. By repurposing the bonding curve platform into an ecosystem launchpad, ecosystem expansion is obtained, increasing the utility of NOM, and incentivizing active participation in the Onomy ecosystem.

The multi-chain era of Onomy has arrived and the DAO should use all tools available to enhance the success of the ecosystem and its potential consumer appchains.

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First! Also good proposal, onex + replicated sec + launchpad= big profits.

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Just saw this new prop - as natives we are well aware Crypto moves fast and has gut wrenching cycles so being prepared to pivot, leveraging new Intel and innovations is a feature not a bug in DeFi as it evolves. Knowing where crypto is in the shorter term business cycle and understanding it is part of a larger longer term secular bull cycle, we are less than a year away from the halvening narrative and we are seeing very interesting adoption of web3 / DeFi / crypto by large trad-fi players globally and many Asian / middle eastern and U.K. jurisdictions are openly regulating. It seems going on the offensive and driving adoption and use cases is now the right timing and applaud the core contributors for their initiatives and adaptive vision. The best DeFi protocols are willing to experiment and build on lessons learned I hope this remains in the DNA of the Onomy DAO.

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This repurposing for a launchpad is a great idea. Combined with ibc and replicated security will open onomy’s exchange for loads of posibilities and capital flowing in and out.

Hope to see on onex many tokens at launch😎

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I believe it’s a great idea to repurpose the BC, when will it be open for voting?

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Create a Mechanism for Participation: The specifics of the mechanism for NOM holders to participate in the early distribution of new consumer chain coins should be developed and implemented. This mechanism will be designed to be fair, transparent, and accessible to all NOM holders.” I’m curious, what will this look like? How can we guarantee it not only fair, accesible, etc, but also equitable?

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Very good proposal :+1:

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When first engineering the Bonding Curve, did you already have this idea in mind? Or rather it was born from necessity?

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Nothing left to say but bravo. I’m all in for this update

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Like others said. This is pretty straightforward, i hope we get to vote soon. To see more tesnet and eventually in the full launch, to see how all this will look like and how many people will use it

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I propose that we get this to vote asap. I see no reason to delay further. It’s one of the best proposals that I’ve seen.

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Hello there:)

I am new to the forums, i hope this community grows and this proposal is very good imo. Should be up for voting soon hopefully

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Without BC, the only way to get some NOMs would be CEXs and DEXs ? Thanks to BC I thought that NOM would a be ETH backed coin, also indirectly ETH backing DENOMs (ETH >NOM >DENOMs). So we will quit this feature?