Will OMNI Explode Like Ethena After Its Binance Listing?
Will OMNI Explode Like Ethena After Its Binance Listing?
NOIDA (CoinChapter.com)— Another day, another Binance Launchpool project. This time, it’s Omni Network, a layer-1 blockchain that integrates Ethereum’s rollup ecosystem into a single platform.
There’s no pricing information available for the OMNI token as of now. However, users can stake BNB and FDUSD tokens to farm OMNI tokens from April 13 to April 16, 2024. Binance will list OMNI on April 17, 2024, with trading pairs including OMNI/BTC and OMNI/USDT.
The Launchpool will distribute 3.5% of OMNI’s maximum supply of 100 million tokens as farming rewards. Moreover, the project will have an initial circulating supply of over 10 million OMNI tokens.
OMNI Network Developments and Potential for Token Rally
The Omni Network has garnered significant attention and investment, reminiscent of the launch of the Ethena blockchain project.
A pivotal development is the substantial $600 million delegation deal with Ether.Fi, which aims to enhance the security of the OMNI network through the EigenLayer ecosystem.
Omni and Ether.Fi have committed to EigenLayer’s pooled security model and will restake the ether on EigenLayer.
Moreover, Omni Network will whitelist Ether.Fi’s liquid token, eETH, and select Ether.Fi’s node operators to run its Actively Validated Service (AVS). The staked ether will serve as security to protect against security breaches and asset depegs.
Moreover, strategic partnerships and backing from prominent firms in the blockchain space, such as Pantera Capital and Two Sigma Ventures, enhance the project’s credibility and market presence.
Additionally, the Omni Network announced the OMNI Genesis airdrop to support the rollout of its mainnet, rewarding early contributors and stakeholders within the Ethereum ecosystem.
The event will distribute 3 million OMNI tokens, 3% of the total supply, to community members, early testnet users, EigenLayer restakers, Ethereum Beacon Chain stakers, and select NFT holders.
The initiative aims to encourage participation and support for Omni’s platform. Users can check their eligibility and claim their tokens within 45 days of activating the claim functionality.
OMNI Tokenomics
The OMNI token is the native token of the Omni Network, with a total supply of 100 million tokens. 3% of the total supply has been allocated for Genesis airdrop to early contributors and stakeholders.
The OMNI tokenomics emphasize participation and security contributions, with special rewards allocated for participants in the Ethereum Beacon Chain and various NFT holders.
Moreover, the Omni Network team has designed the system to ensure the project remains secure and decentralized while also encouraging active participation and investment from the community.
Though little information is available about the price of OMNI tokens during launch, listing on a major exchange like Binance is likely to help push the token higher. Yet profit booking from early adopters and airdrop recipients remains a threat to the token’s price action.
The combination of strategic financial backing, a thoughtful token distribution plan, and a clear vision for scalability and interoperability suggests that OMNI Network has the potential to experience significant growth and success akin to major projects like Ethena once it fully launches.
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Filed under: Bitcoin - @ April 13, 2024 4:23 pm