Binance Launches Omni Network with BNB and FDUSD Staking

Apr. 13, 2024
Binance Launches Omni Network with BNB and FDUSD Staking

Binance, one of the world’s leading cryptocurrency exchanges, announced that Omni Network (OMNI) is the latest project to be added to the Binance Launchpool. Notably, the spotlight shines on Omni Network (OMNI), offering investors a chance to delve into a novel blockchain architecture.

Binance introduces the Omni Network (OMNI)

Binance Launchpool, the breeding ground for promising projects, has introduced Omni Network (OMNI) as its 52nd venture. Touted as Ethereum’s integrated rollup layer, Omni aims to revolutionize decentralized applications (dApps) by unifying Ethereum’s scaling solutions into a cohesive system.

You can earn OMNI on Binance Launchpool between April 13 (12:00 AM UTC) and April 16 (11:59 PM UTC). The token rewards you earn will depend on how many coins you stake.

Binance plans to distribute 3.5% of the total OMNI token supply to users on Launchpool. This translates to 3.5 million OMNI tokens out of a total supply of 100 million tokens.

85% of these rewards will be distributed to BNB stakers, while the FDUSD staking pool will receive 15%. However, this doesn’t necessarily mean you will earn more OMNI if you stake BNB rather than the stablecoin. It all depends on how big your stake is relative to the size of the entire staking pool.

In addition to featuring the OMNI coin on its Launchpool platform, Binance will also list the token for trading on the Binance exchange. The token will be available for trading starting on April 17 at 12:00 PM (UTC) in trading pairs against BTC, USDT, BNB, FDUSD, and TRY.

Understanding The Project

In the Ethereum scalability debate, OMNI Network (OMNI), in a simple language, is an innovation hub that can change. OMNI’s double staking integrates Ethereum’s security with rapid cross-rollEthereum verification to boost system efficiency and reliability. For example, Binance’s lBinance’souncement has triggered debates among cryptocurrency enthusiasts.

According to Binance, this project matters because it integrates Ethereum’s system and offers developers a global platform for creating applications. Moreover, with its previous testnets boasting noteworthy transaction volumes and user engagement, Omni raises the bar toward wider acceptance by the masses.

Meanwhile, as listed on the leading crypto exchange often catalyzes price movements, the community eagerly anticipates market debut. Past instances, such as Ethena (ENA), have witnessed significant price rallies post-Binance listing. This hints at the potential impact on OMOMNI’salueOMOMNI’salun.

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Rida Fatima

News writer
An ardent wordsmith with a rich five-year background in delving into the realms of finance and cryptocurrencies. Alongside curating captivating blogs, Unique's talents extend to crafting imaginative and engaging content.