Joining the Onomy Validator Guild (OVG)
The Onomy Network (ONET) represents our layer-1 blockchain, built with Cosmos SDK / Tendermint BFT proof-of-stake (PoS) consensus engine for efficient throughput and efficiency.
Its purpose is to power our core products — the Onomy Exchange (ONET), Onomy Reserve (ORES), and Onomy Access (OACC).
Together, these components provide the foundation to a fully cross-chain ecosystem facilitating seamless, yet advanced trading of Forex pairs and crypto assets deployed across multiple blockchains.
The Onomy Exchange will be deployed to the Onomy Network as well as EVM chain partners like Avalanche, NEAR’s Aurora, and others TBA. Efficient bridging will be offered to and from ONET and partner chains.
Joining the Onomy Validator Guild (OVG)
In a bid to optimize network-wide performance, maintain decentralization, and ensure security, the OVG maintains a high standard in operational performance and sustainability. This standard is met by all OVG members, of which uphold cutting-edge hardware specifications for the bettermint of Onomy Protocol.
The number of eligible validator partners for Public Testnet 2 will therefore be limited to 10 OVG members in the active set to attain sustainability, low latency, high throughput, and 24/7 uptime throughout testing and beyond. Additional information to increase the active validator set will be provided at a later date.
You can apply to become part of the OVG by filling out this form.
Please keep in mind that only an initial 10 OVG members will become part of the active set. All other OVG members will remain on the OVG reserve list and may be contacted as the ONET expands.
We understand the appeal of the upcoming incentives promised to ONET validators. On this note, we would like to inform you that delegating NOM to the active OVG members is fully permissionless and open to anyone who would like to get involved, but is unable to run their own system.
Current Hardware Requirements for Validators
Validators interested in applying must hold servers that match or exceed the following criteria:
- 32 core EPYC, 256GB of RAM, 5TB enterprise SSD
- 10 GBPS dedicated internet connection
Minimum NOM Stake for Validators
Given the high demand expressed by partner groups (with over 150+ active validators on testnet 1), our plans for long-term collaboration, and the inherent performance needs of the Onomy Network, the minimum NOM stake per validator group is 250,000 NOM.
Early adopters will obtain a significant stake in the network at an early stage, with the minimum stake amount to grow in value as Onomy Protocol gains traction. Additionally, validators may receive grants from the Onomy Foundation to assure the latest system specs are used.
NOM Staking Incentives
Primary staking rewards are given based on a dual-regime model with an initial hyper-inflationary period that rewards staking participants with up to 100% APY followed by an indefinite stabilization period with a goal of 50% of NOM staked with nodes.
The goal of the hyper-inflationary period is to build a strong network by heavily loading inflation for early adopters that participate in staking.
Understanding NOM, the Proof of Stake Token
NOM serves as the single collateral to our fiat-pegged stablecoins and is the go-to token for PoS staking, while granting governance rights and rewarding those who support the network.
To learn more about Onomy Protocol, kindly read our Litepaper, CoinMarketCap deep tech dive, Medium blog, and protocol documentation.
