Binance Launchpad Lists Omni Network (OMNI): Layer-1 Blockchain with Ethereum Roll-ups Integration

Binance's Launchpool announces the addition of Omni Network (OMNI), a layer-1 blockchain project integrating Ethereum's roll-up, as its 52nd project. Trading of OMNI tokens is scheduled to commence on April 17th, with users eligible to stake BNB and FDUSD for OMNI rewards from April 13th. The project's native token, OMNI, has a maximum supply of 100 million and will have an initial circulating supply of approximately 10.4 million at listing, representing 3.5% of the maximum token supply allocated to Launchpool rewards.

Binance Launchpad Welcomes Omni Network (OMNI): A Layer-1 Blockchain Integrating Ethereum Roll-ups

Binance, the world's leading cryptocurrency exchange, has announced the listing of Omni Network (OMNI) on its Launchpad platform, marking the 52nd project to join the exclusive launchpad. Trading for OMNI is scheduled to commence on April 17, 2024, at 12:00 UTC.

Omni Network, a layer-1 blockchain project, aims to integrate Ethereum's roll-up technology into a unified and seamless system. Roll-ups, which consolidate multiple transactions into a single block before posting them to the main chain, enhance scalability and reduce transaction costs on Ethereum.

As an Ethereum-native interoperability protocol, Omni Network establishes low-latency communication channels between various Ethereum roll-ups. This architecture offers a secure, high-performance, and globally compatible foundation, presenting Ethereum as a single, unified operating system for users and developers alike.

The addition of OMNI to Binance Launchpad reflects the exchange's commitment to supporting innovative blockchain projects poised for growth. Binance Launchpad is a platform designed to enable users to stake supported crypto assets in exchange for new tokens from promising projects.

Launchpad Details

Launch Date: April 17, 2024, at 12:00 UTC

Official Webpage: Estimated to be available 5 hours before Launchpad commencement

Staking Pools:

• Stake BNB Pool: 2,975,000 OMNI rewards
• Stake FDUSD Pool: 525,000 OMNI rewards

Trading Pairs:

• OMNI/BTC
• OMNI/USDT
• OMNI/BNB
• OMNI/FDUSD
• OMNI/TRY

Token Details

• Maximum Circulating Supply: 100,000,000 OMNI
• Launchpool Token Reward: 3,500,000 OMNI (3.5% of max token supply)
• Initial Circulating Supply: 10,391,492 OMNI (10.39% of max token supply)
• Smart Contract (Ethereum): 0x358dA2838c467a848056272c19bA108400257e71

KYC Requirement: Staking requires Know-Your-Customer (KYC) verification.

Eligibility Restrictions:

Binance Launchpad eligibility is subject to the user's country or region of residence. The following countries are ineligible:

• Australia
• Canada
• Cuba
• Crimea Region
• Iran
• Japan
• New Zealand
• Netherlands
• North Korea
• Syria
• United States of America and its territories (American Samoa, Guam, Puerto Rico, the Northern Mariana Islands, the U.S. Virgin Islands)
• Any non-government controlled areas of Ukraine

OMNI Token Utility

OMNI, the native token of the Omni Network, plays a pivotal role in the protocol's functionality:

• Universal Gas Protocol: OMNI serves as the universal gas token for all transactions and computations within the network.
• Gas for Omni EVM: OMNI powers the execution of smart contracts on the Omni EVM (Ethereum Virtual Machine).
• Network Governance: OMNI holders have the ability to participate in network governance and vote on proposals that affect the protocol's future development.
• Staking: OMNI tokens can be staked to earn rewards and contribute to the security and stability of the network.

Funding and Circulating Supply

Omni Network has successfully raised approximately $18.1 million through two rounds of private token sales. In the first round, 9.1% of the total token supply was sold at 0.18 USD/OMNI, while 11% was sold at 1.50 USD/OMNI in the second round. The total token supply stands at 100,000,000, with an initial circulating supply of 10,391,492 OMNI upon listing.

As Binance Launchpad prepares to welcome Omni Network, users are encouraged to carefully review the eligibility criteria and staking details. The addition of OMNI to the platform signifies Binance's ongoing commitment to fostering innovation and providing access to promising blockchain projects.