Nomads - Assemble!!
Pendulum’s journey since the last grant has been marked by significant milestones and relentless pursuit of progress. As the largest validator for Onomy, we stand at the cusp of another leap forward and invite you to be a part of the next phase of our contributions to Onomy, spearheading the Venetian upgrade built alongside a global set of developer contributors that we hope validators and DAO members will ratify as a leading interface for the Onomy Ecosystem.
Review of Our Journey Since Last Funding
After almost one full year, we have diligently worked towards the advancement of Onomy, achieving critical milestones:
- Implementation of OIP-5: Supported reduced inflation rate to the 7-20% range as per Cosmos SDK standards, enhancing the stability of Onomy’s ecosystem.
- Replicated Security Integration (OIP-4): Onomy mainnet became the 2nd ever provider chain within Cosmos, enabling an ecosystem of products that advance Onomy’s core mission of building the Internet’s Financial System. Onomy’s flagship products, as well as sovereign, independent app-chains may all leverage Replicated Security so that the Onomy Validator Guild secures all consumer chains.
- ONEX Development: Contributed alpha and beta versions of ONEX, Onomy’s novel hybrid (AMM + orderbook) DEX, leading up to the upcoming Venetian upgrade consisting of a production UI release. This critical development includes a full suite of user-centric features like TradingView Charts, improved liquidity management, and a robust user interface.
- Validator Set Expansion: Supported Ledger and Chorus One as new validators.
- Wallet Integration Expansion: Supported additional wallet native integrations of NOM in Ledger Live for use with Ledger cold wallet devices and Leap Wallet.
- Exchange Listings and other BizDev: Supported major CEX listings and other strategic partnerships.
Proposal for Continued Growth
Building on our progress, we are now poised to embark on the next phase of our growth. To achieve this, Pendulum is requesting a grant of 10 million NOM tokens. The allocation of these funds will be used to further our multi-year journey as a leading contributor to Onomy’s ecosystem and be dedicated to operations, business development, strengthening network security and decentralization via additional validator relations, continuing pursuit of strategic partnerships, ecosystem integrations, and development contributions to Onomy, as well as grant programs for community members running competitions such as the Trade Wars, Zealy tasks, liquidity incentives matching such as the one done with Osmosis, and related activities.
Commitment to Transparency
We understand the importance of responsible and transparent use of protocol funds and assure the Nomads that the requested funding will be used solely for the purpose of advancing Onomy’s Ecosystem. We are confident that the results for the Onomy community will include improved user experience, accessibility, community engagement, liquidity provision and ecosystem growth as has been evidenced from Pendulum’s contributions since the previous funding request.
If granted, Pendulum will not use the granted tokens to influence future governance proposals, that way we do not have any increased influence over DAO vote outcomes. Pendulum is excited about the future and grateful for the opportunity to continue contributing to Onomy.
With appreciation and commitment,