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Binance, a top cryptocurrency by trading volume, is introducing Omni Network (OMNI) as its 52nd Launchpool project, per an update on April 12.
The Launchpool platform has played host to a number of major token launches in recent years, including big names like Pendle Finance (PENDLE).
To participate in the token launches, users must stake BNB or FUSD to farm OMNI coin.
Here’s the Omni Network – OMNI Launchpool Details
BNB stakers will be able to participate for their share of 2,975,000 OMNI, or 85% of the allocated amount, during this period.
For fairness, a maximum hourly hard cap per user has been set to 3,098.95 OMNI in this pool. Over 60,000 BNB holders have already staked.
Meanwhile, FUSD stakers will share 525,000 OMNI, or 15% of the total supply. A user can receive a maximum of 546.87 OMNI every hour – from data, more than 43,000 FUSD holders have staked so far.
875,000 OMNI will be distributed daily for four days starting on April 13. Once this farming period elapses, Binance will list OMNI for trading on April 17 in a highly anticipated token launch.
However, not everyone can participate. BNB or FUSD holders from the United States, New Zealand, Japan, and five other countries are among those not eligible to farm.
Why OMNI Launchpool Participants Will Benefit
(Popular Binance Launchpool Tokens)
Omni Network developers are opting to use the Binance Launchpool, following the route taken by other successful projects like Sui Network (SUI) – with the Launchpool benefiting supporters as follows:
- Launchpool participants effectively become early adopters. All those stakers receive OMNI before listing on Binance, where prices are expected to rip higher due to the huge volumes on the exchange.
- Users can diversify their crypto portfolio by staking without purchasing new tokens. This can be a preferred choice for users wishing to expand using available resources.
- Unlike some fundraising means, Launchpool generally doesn’t have high entry barriers. All you have to do is stake what’s available and earn tokens from a pre-audited and safe project – enabling a fair participation mechanism.
Will Omni Network (OMNI) Find Success in the Market?
Omni Network is building a layer-1 blockchain similar to Ethereum or Solana. It aims to resolve the challenges faced by leading networks.
The platform offers built-in access to Ethereum’s vast user base and liquidity while connecting all rollup networks through restaking for higher scalability.
By integrating all roll-ups, Omni prevents fragmentation, considering how quickly layer-2 solutions using rollups are finding adoption.
Omni has over 400,000 users, and more than 30 projects are being built on its rails.
Explore: What Is Saga Crypto? Top Exchange Binance Reveal 51st Launchpool Project – Over $2Bn Staked
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital
