Onomy Protocol has signed a partnership with Harmony, adding the highly scalable, low-energy blockchain based on a “sharding architecture” to an expanding formation of cross-chain deployments. Onomy’s hybrid DEX, multi-currency stablecoins, and a bidirectional bridge will be deployed as part of the integration.
Onomy’s strong infrastructure consists of an application-specific Layer 1 blockchain developed using Cosmos Tendermint, a hybrid DEX and Forex marketplace, a stablecoin minting system, and a non-custodial wallet.
As soon as the integration is complete, Harmony’s users will be able to access Onomy’s planned hybrid DEX, called ONEX, the protocol said on Twitter.
We are excited to be partnering up with @HarmonyProtocol! 📢
Harmony’s community will natively access Onomy’s upcoming hybrid DEX, bringing AMM LPs and an order book for market, limit, and stop orders, alongside FX markets.
Let’s dive deeper 👇
1/3https://t.co/cVP1cLMIIj pic.twitter.com/8FuPNUmsAR
— Onomy Protocol (@OnomyProtocol) February 2, 2022
Harmony’s high-throughput, low-fee infrastructure will enable more efficient trading. ONEX combines AMM liquidity pools with an order book UI that allows limit, stop, and conditional orders to enable frictionless cross-chain trading between crypto assets and Forex pairings.
Users will be able to connect Harmony native assets to the Onomy Network and vice versa after the integration. This would open up more liquidity channels, allowing for seamless trade between ecosystems and allowing Harmony users to engage in Forex trading, payments, settlement, lending, and yield possibilities utilising Onomy’s stablecoins, known as ‘Denoms.’
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