Ask about Nomad
Logo of NomadNomad
Total Value Locked$356,110.95

TVL by Chain

Ethereum$356,110.95

Milkomeda C1$0

Evmos$0

Moonbeam$0

Key Metrics

Total Raised$22m

Apr 12, 2022$22mRound: SeedInvestors: Polychain Capital, Coinbase Ventures, A&T Capital, Amber Group, Wintermute Ventures, Robot Ventures, Polygon, Ethereal Ventures, Hypershere, Circle Ventures, Figment, Lattice Capital, Dialectic, Continue Capital, 1kx, Hack VC, Archetype, Lattice, Breyer Capital, Wave Financial Group, Open Web Collective, Ledger Prime

Protocol Information

Nomad is an interoperability protocol for generalized message passing. We leverage an optimistic mechanism. There are no validators, and there is no blockchain. We're deployed as smart contracts between two chains, and has a lightweight off-chain component. This allows us to have less overhead and be more cost-efficient than other interoperability protocols.

Category:Bridge

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Methodology

TVL: counts the total amount of assets locked in the Nomad token bridge.View code on GitHub

Hacks

Date: Aug 1, 2022

Amount: $190m

Classification: Protocol Logic

Technique: Trusted Root Exploit

Chains: Ethereum

Bridge Hack

Language: Solidity

Target Type: DeFi Protocol

Competitors

Multichain ($37.62m)Connext ($23.7m)Axelar ($130.12m)cBridge ($13.47m)Knit Finance ($383,875.61)LayerZero V2 ($6.676b)USDT0 ($3.388b)CCIP ($1.669b)Portal ($1.485b)Unit ($523.62m)

Frequently Asked Questions

What is Nomad?

Nomad is an interoperability protocol for generalized message passing. We leverage an optimistic mechanism. There are no validators, and there is no blockchain. We're deployed as smart contracts between two chains, and has a lightweight off-chain component. This allows us to have less overhead and be more cost-efficient than other interoperability protocols.

What is Nomad's TVL?

Nomad currently has $356,110.95 in total value locked. TVL has increased 8.2% over the past 30 days.

What chains does Nomad operate on?

Nomad operates on 4 chains: Milkomeda C1, Evmos, Moonbeam, and Ethereum. Ethereum holds the largest share at 100%.

How does Nomad's TVL compare to similar protocols?

Among Bridge protocols tracked by DefiLlama, Nomad ranks #84 by TVL. The category holds $45.017b across 150 protocols, and Nomad accounts for <0.1% of that total. Other leading protocols include WBTC, LayerZero, and Coinbase Bridge.

Has Nomad ever been exploited?

Nomad has 1 recorded security incident. The most recent incident occurred on Aug 1, 2022 and involved $190m. It was classified as Protocol Logic.