Binance Introduces Omni Network (OMNI) to its Launchpool Platform

Binance, the largest crypto exchange in the world by trade volume has introduced the Omni Network (OMNI) into its Launchpool marking a major shift in the project milestone. The latest addition has triggered conversations among the crypto community with many wondering about the potential impact of the move on the crypto community.

Binance adds Omni Network (OMNI) as the 52nd project on its Launchpool

The crypto exchange giant made this announcement earlier today on its official website. According to the statement, Binance has introduced Omni Network (OMNI) as its 52nd addition to its Launchpool. For context, Omni Network is a layer 1 blockchain solution that is designed to incorporate Ethereum’s rollup ecosystem into a single system. It is a low-latency interoperability network that integrates Ethereum rollups through restaking.

Binance further disclosed that the webpage will be available about 5 hours before the start of the Launchpool. Once live, users will be able to farm OMNI tokens by staking their BNB and FDUSD into separate pools. Additionally, users will be able to stake for over four days as the farming will start from  2024-04-13 00:00 (UTC).

Binance Launchpool is a platform that enables users to store their tokens in a liquidity pool. The platform allows members to stake their crypto assets to earn new tokens from new projects. So far, it has introduced 52 projects to this platform.

Binance to list OMNI in coming days

Meanwhile, Binance has said that it will list the OMNI token as a tradable asset on April 17 at 12:00 (UTC). The exchange warned users to disregard any claims to offer the token before the stated time. Upon listing, investors will be able to trade OMNI against other assets like BTC, USDT, BNB, FDUSD, and TRY.

According to tokenomics, OMNI has a maximum supply of one hundred million tokens with 3.5% or 3.5 million tokens allocated to Binance Launchpool rewards. The initial circulating supply is set at 10.39% or 10,391,492 OMNI tokens.

As Binance gears up to list OMNI on its platform, investors keenly keep an eye on the price movement of the token as several projects have exhibited exponential movements following listing on major exchanges.