Onomy Network Introduction for Validators & FAQs

The place for focused discussions surrounding Onomy Protocol’s validator community. Introduce yourself, ask questions, get help, offer feedback, and network with other validators.

Current Network Status

We’ve just deployed our first iteration of the public testnet. This is the time when we bootstrap the initial community of validators, report bugs, and improve the system for efficient transaction processing.

What is the Onomy Network?

The Onomy Reserve (ORES) and Onomy Exchange (ONEX) are powered by the Onomy Network (ONET), a Cosmos Tendermint-based chain which is used for processing transactions — thus, value transfers are conducted quickly, securely, and perhaps most importantly, irreversibly.

The ONET is secured by a network of validators, each of which is required to bond a fixed minimum amount of NOM either directly or through delegation in order to participate in network consensus. Validators and NOM stakers are incentivized in the form of inflation rewards.

Why validate for Onomy Protocol?

The primary network security of the Onomy Network is assured by a Proof of Stake model that bonds NOM to validators either by the validators themselves or through delegation. Network security depends on the bonding to create both incentives for good behavior and disincentives for bad behavior.

NOM tokens may be staked by the validators or delegated to them, thus earning yield in exchange for securing the network.

Joining the ONET Testnet Documentation

Will there be an incentivised testnet?

The next version of our testnet to be deployed once the system passes its first critical testing will be incentivised. Details on this are being worked out at the moment.

Can any validator join the testnet?

Yes! However, the mainnet will initially feature a set of permissioned validators, decided based on the contributions provided during the testnet period and their . Later on, as the Onomy DAO is formed, token holders will vote on the validator groups to work with.

GitHub Validator Documentation
Validator Staking Documentation