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Nomad

Nomad

Nomad is a cross-chain protocol

OverviewStructured DataIssuesContributorsActivity
Contents
Introduction

Nomad is a novel approach to blockchain interoperability that leverages an optimistic mechanism to increase the security of cross-chain communication. Using Nomad, developers can securely build cross-chain applications (or xApps) and bridge assets between chains. Nomad channels and the flagship xApp, the Nomad token bridge, are live on Ethereum and Moonbeam, with more chains coming soon.

Philosophy

What we found through connecting the dots backward is that there is a consistent philosophy that informs Nomad’s design. Specifically, there are three core tenets that our decisions anchor to. By leaning on this backbone anytime we encountered a hard decision, we ensured that we developed Nomad in a way that adhered to our values and prioritized delivery over yak shaving.

We thought that these tenets could be useful for other teams working on gnarly problems, and could serve as a guidepost the way it does for us. Without further ado, the three tenets behind Nomad:

Users Over Systems

Tech matters. Users matter most.

The ability to build solutions to problems that real people experience is what gets us out of bed in the morning. Prioritizing the system can easily distract us from providing great products users want. System design should serve this end; it is not the end itself.

• We value human-facing utility more than interesting primitives.

• If we must choose between applications and mechanisms, we choose applications.

• Our success is measured in the wild, not in the lab.

Simple Over Complex

Complexity is the death of innovation.

We strive to build solutions that are no more complex than they need to be. We avoid new cryptography, and love reusing others’ libraries. Interoperability is inherently complex. Our goal is to make it simple for any developer.

• We value approachable and maintainable code more than minimal code.

• If we must choose between documentation and optimization, we choose documentation.

• Our success is measured in the bazaar, not in the cathedral.

Safety Over Formalism

Real harm is more important than theoretical harm.

We strive to take advantage of every tool that protects users. We aim to minimize the probability and impact of security issues. Our security practices are informed by formal analysis, but not centered on it.

• We value the real-world safety of users and funds more than crypto-economic models.

• If we must choose between smart contract security and a new whitepaper, we choose smart contract security.

•Our success is measured in mainnet attacks, not arXiv attacks.

Advantages

Nomad is an optimistic interoperability protocol that enables secure cross-chain communication.

Using Nomad:

• Users can bridge tokens between chains

• Asset issuers can deploy tokens across chains

• DAOs can facilitate cross-chain governance proposals

• Developers can build native cross-chain applications

The goal of Nomad is to provide the connective tissue to enable users and developers to interact

securely in a multi-chain world.

How does Nomad work?

Nomad enables applications to send data between chains and rollups. Applications interact with

Nomad core contracts to enqueue messages to be sent, after which off-chain agents verify and

ferry these messages between chains.

In order to ensure that message-passing is secure, Nomad uses an optimistic verification

mechanism, inspired by fraud-proof based designs like optimistic rollups. This makes Nomad more

secure, cheaper, and easier to deploy compared to validator / proof-of-stake based interoperability

protocols.

Timeline

July 28, 2022
Nomad raises a $22,400,000 seed round from Coinbase Ventures, Crypto.com, Gnosis, OpenSea, Polychain Capital, Polygon and Wintermute.
April 12, 2022
Nomad raises a $22,000,000 seed round from 1kx, A&T Capital, Amber Group, Archetype Ventures, Breyer Capital, Circle, Continue Capital, Ethereal Ventures, Figment, Hack VC, Hypersphere Ventures, Lattice Capital, LedgerPrime, Polychain Capital and Robot Ventures.

Funding Rounds

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Patents

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Further Resources

Title
Author
Link
Type
Date

Bridging with Nomad | Nomad

https://docs.nomad.xyz/bridge/index.html

Web

Nomad Raises $22M Seed Round for Security-first Interoperability

Nomad

https://blog.nomad.xyz/nomad-raises-22m-seed-round-for-security-first-interoperability-5d6b15c96007

Web

April 12, 2022

The Nomad Design Philosophy - Nomad - Medium

Nomad

https://blog.nomad.xyz/the-nomad-design-philosophy-6fc0eacf3263

Web

February 7, 2022

The Past & Future of Bridging with Special Guest, Nomad

https://www.youtube.com/watch?v=jLTW8Byfh_o

Web

January 31, 2022

References

app.nomad.xyz
nomad.xyz
Is a
Organization
Organization
Company
Company
Cryptocurrency
Cryptocurrency
Funding round
Funding round

Company attributes

Industry
Blockchain
Blockchain
Blockchain and cryptocurrency
Blockchain and cryptocurrency
Location
United States
United States
B2X
B2B
B2B
Investors
Monashees
Monashees
Range VC
Range VC
Avalanche
Avalanche
Circle (company)
Circle (company)
Breyer Capital
Breyer Capital
Hack VC
Hack VC
Archetype Ventures
Archetype Ventures
Robot Ventures
Robot Ventures
...
Email Address
gm@nomad.xyz
Total Funding Amount (USD)
44,400,000
Latest Funding Round Date
July 28, 2022
Competitors
Layerswap
Layerswap
Swim Protocol
Swim Protocol
Axelar
Axelar
Across
Across
Bungee
Bungee
Via Protocol
Via Protocol
Orbiter Finance
Orbiter Finance
Allbridge
Allbridge
...
Latest Funding Type
Seed round
Seed round

Funding Round attributes

Funding Type
Seed round
Seed round
Funding Round Amount (USD)
22,000,000
Funding Round Date
April 12, 2022

Other attributes

Medium URL
blog.nomad.xyz
Partner Organizations
Evmos
Evmos
zkSync
zkSync
StellaSwap
StellaSwap
Funding Round Investor
Coinbase Ventures
Coinbase Ventures
Blog
blog.nomad.xyz
Strategic Partnerships
Diffusion
Diffusion
Connext
Connext
Milkomeda
Milkomeda
Company Operating Status
Active
Latest Funding Round Amount (USD)
22,400,000
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