Binance Launches Omni Network Launchpool with Exclusive Token Listing

Binance Launchpool introduces Omni Network (OMNI), a layer 1 blockchain consolidating Ethereum's rollup ecosystem. Binance will list the OMNI token for trading on April 17, 2024, and the Launchpool event starts on April 13, 2024, where users can stake BNB and FDUSD to farm OMNI tokens.

Binance Announces Omni Network Launchpool with Exclusive Token Listing

Binance, the world's leading cryptocurrency exchange, has introduced the Omni Network (OMNI) as the 52nd project on its Launchpool platform. Omni Network emerges as a cutting-edge layer 1 blockchain designed to unify Ethereum's rollup ecosystem into a cohesive and seamless network.

Anticipating the Launchpool event, Binance has announced the launch of its official webpage approximately five hours before the scheduled commencement. The exchange takes pride in being the first platform to list the Omni Network token (OMNI), with trading set to begin on April 17, 2024, at 12:00 UTC. Binance advises investors to exercise caution against any premature offerings of the token, as claims of selling before the official launch date are deemed illegitimate.

To ensure the security of users' investments, Binance strongly recommends thorough research before making any commitments.

Introducing Omni Network $OMNI on #Binance Launchpool!

Farm $OMNI by staking #BNB and $FDUSD.

https://t.co/SYfSgA3ZsJ

pic.twitter.com/x1TuWmXBz9

Staking, Launchpool, and Rewards

Commencing on April 13, 2024, at 00:00 UTC, users are presented with the opportunity to stake their BNB and FDUSD into designated pools to farm OMNI tokens. This farming period will span four days. The highly anticipated new listing will facilitate trading with multiple pairs, including OMNI/BTC, OMNI/USDT, OMNI/BNB, OMNI/FDUSD, and OMNI/TRY. OMNI is categorized as a Seed Token for this launch.

The Omni Network Launchpool allocates a total of 3,500,000 OMNI tokens as rewards, constituting approximately 3.5% of the maximum token supply. The initial circulation will encompass over 10 million OMNI tokens. Binance mandates KYC compliance for participation, and the staking terms incorporate an hourly hard cap per user to ensure equitable distribution. Notably, participants in the BNB pool are eligible to accumulate up to 3,098.95 OMNI, while those in the FDUSD pool can acquire 546.87 OMNI.

Reward Distribution

The rewards are predominantly distributed in the BNB pool, with a substantial 85% allocation, while the FDUSD pool receives the remaining 15%. Each pool's APY and total balance undergo dynamic updates, fostering transparency. Binance engineers the reward accrual and claims processes, along with staking and unstaking functions, for enhanced user flexibility and efficiency.

Access to Resources

Binance grants access to a comprehensive research report and an array of resources encompassing the official website, whitepaper, blog, and Telegram channel. Additionally, the Launchpool mechanism employs real-time snapshots for meticulously calculating rewards and enables instant participation in alternative pools upon unstaking.

Geographical Restrictions

Certain jurisdictions, including the USA, Canada, and Japan, are subject to restrictions on participating in OMNI farming due to diverse local regulations. This list may experience updates, and users are advised to verify their eligibility based on their geographical location. Binance emphasizes that standard benefits associated with holding BNB will continue to apply to those staking in the Launchpool.

Tags: Binance