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Cryptocurrency News Articles
Binance Announces Launch of Omni Network (OMNI) on Binance Launchpool
Apr 12, 2024 at 05:38 pm
Binance introduces its 52nd Launchpool project, Omni Network (OMNI), a blockchain intended to integrate Ethereum's rollup ecosystem. Users can stake BNB and FDUSD in dedicated pools to earn OMNI tokens from April 13th. Binance will list OMNI on April 17th, enabling trading against BTC, USDT, BNB, FDUSD, and TRY.
Binance Announces Launch of Omni Network (OMNI) on Binance Launchpool
Binance, the leading global cryptocurrency exchange, has announced the launch of its 52nd project on Binance Launchpool: Omni Network (OMNI). OMNI is a layer 1 blockchain designed to seamlessly integrate Ethereum's rollup ecosystem into a unified system, enhancing scalability and efficiency.
Binance Launchpool Details
The OMNI token farming event will commence on April 13, 2024, 00:00 (UTC) and conclude on April 16, 2024, 23:59 (UTC). During this period, participants can stake their BNB and FDUSD tokens into separate pools to earn OMNI rewards.
Binance has allocated a total of 3,500,000 OMNI tokens (3.5% of the maximum token supply) for distribution through Binance Launchpool. The following staking pools will be available:
- Stake BNB: 2,975,000 OMNI in rewards (85%)
- Stake FDUSD: 525,000 OMNI in rewards (15%)
Token Economics
The maximum token supply of OMNI is set at 100,000,000 OMNI, with an initial circulating supply of 10,391,492 OMNI (10.39% of the maximum token supply).
Listing on Binance
Following the conclusion of the farming event, Binance will list OMNI on April 17, 2024, 12:00 (UTC). Trading pairs will include OMNI/BTC, OMNI/USDT, OMNI/BNB, OMNI/FDUSD, and OMNI/TRY.
KYC and Hourly Hard Cap
Participation in the OMNI farming event requires KYC verification. Additionally, an hourly hard cap of 3,098.95 OMNI in the BNB pool and 546.87 OMNI in the FDUSD pool will be enforced to ensure fair distribution.
Other Binance News
Binance remains active in expanding its reach and offerings. Recent news highlights include:
- Binance Launchpool Announces Portal as 47th Project (February 21, 2024)
- Binance Continues to Increase Its Market Share (March 10, 2023)
- Binance Sets Up Blockchain Hub in Georgia (April 7, 2023)
- Binance Acquires Japanese Crypto Exchange Sakura Exchange BitCoin (December 5, 2022)
- Binance to Launch Operations in Japan (May 5, 2023)
- Binance and Royal Thai Police Unite to Dismantle Crypto Scam and Recover Over $270 Million (October 7, 2023)
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