Omm product update | October 2021

2 min readOct 8, 2021


Read this post on the Omm blog.

What have the Omm contributors accomplished, and what are they working on next? Going forward, we’ll share a roadmap update with the community each month, so the answers to those questions are never far from reach.

In September, we:

  • Designed, built, and released the Omm governance functionality (check it out the Vote page or preview the changes in the Omm demo)
  • Designed and released the Omm governance forum
  • Added the ability to cancel OMM unstaking requests
  • Reconfigured the airdrop so eligible sICX/ICX liquidity providers could claim it
  • Fixed some minor front-end glitches
  • Updated the OMM description on Coinmarketcap

We also researched and submitted an ICE airdrop preparation proposal on the forum, which consists of 3 main actions:

  • Remove the OMM rewards for the sICX borrow market
  • Deactivate the sICX borrow market
  • Increase the sICX borrow interest to a fixed rate of 120%

Omm governance

We released the Omm forum last week, so the community now has a dedicated place for governance discussions. This was an important step, as with ICON’s ICE airdrop pending and the snapshot date unknown, OMM holders need to decide how to handle the sICX borrow market.

We published the rest of the governance functionality this week, so it’s now possible for OMM holders to submit and vote on proposals. The proposed changes for the ICE airdrop will go to a vote in around 24 hours (early morning on October 9, UTC)— make sure your OMM is staked in advance, or you won’t be able to vote.

Check out the ICE airdrop proposal discussion, and learn how to participate in governance on Omm.

Omm in the media

A few weeks ago, the Monks Academy hosted a discussion with some of the early Omm contributors. In case you missed it, you can listen to the talk on YouTube.

And Hashoshi published a video about Omm, courtesy of an ICON grant: ICON ICX + Omm delivers true user-friendly DeFi for the masses!.

Roadmap for October

In October, we plan to:

  • Integrate dark mode
  • Enhance the mobile UI
  • Prepare for the ICON 2.0 migration
  • Test the smart contracts/front-end on the Sejong testnet
  • Set up a custom Omm blog

If there’s something else you think we should work on, let us know on the forum or in Discord.




A money market where anyone can lend and borrow assets, earn interest, and earn OMM for doing so. Coming soon to the ICON Network.