On April 11th, the Ethereum interoperability protocol Omni Network announced the details of the token airdrop. The airdrop targets include the Omni community, EigenLayer re-staking users, beacon chain Solo stakers, Milady Maker and Redacted Remilio Babies NFT holders, Pudgy Penguin NFT holders, Ninjas NFT holders, and strategic cooperation agreements.
Subsequently, major exchanges including The First, Binance, and OKX announced the launch of Omni Network. On April 17th, The First officially announced that it will list the OMNI/USDT trading pair in the spot area at 0:00 (UTC + 8) on April 18th. So why has Omni Network received so much attention from the market, and can Omni Network solve the current situation of Ethereum's second-layer liquidity fragmentation? We will now provide a detailed interpretation of Omni Network to help everyone understand this Ethereum ecosystem project.
1. What is OMNI (Omni Network)?
Omni Network is a first-layer blockchain that aims to integrate Ethereum's Rollup ecosystem into a unified system. Using Omni, developers can build local global applications that can access all Ethereum liquidity and users by default. It is supported by a novel blockchain architecture that supports sub-second-level final determinism and obtains security from Ethereum by re-staking.
By providing a unified execution environment - Omni EVM, it allows developers to manage and deploy decentralized applications (DApps) across multiple Layer 2 networks in a central location. Omni Network emphasizes security and adopts an Ethereum-based re-staking model, which not only uses ETH but also its own OMNI token to ensure that the security of the network matches the first layer of Ethereum.
Omni Network uses the CometBFT consensus mechanism to handle communication between Rollups, and achieves sub-second message verification through pre-determination and transaction insurance mechanisms, thereby accelerating the speed of cross-Rollup transactions. In addition, Omni Network supports backward compatibility, allowing deployed applications to directly access Omni Network without modification. At the same time, Omni proposes a unified Gas market solution to solve the problem of inconsistent Gas tokens between different Layer 2 networks.
2. Omni Network Token Economics
OMNI plays a very important role in the Omni Network protocol.
Total supply: 100 million pieces
Initial circulation: 10391492 pieces
Ecosystem Fund: 29.5%
Team: 25.25%
Private equity investors: 20.06%
Community Fund: 12.67%
Publicly published distribution: 5.77%
Binance Launchpool: 3.50%
Consultants: 3.25%
OMNI Token Airdrop Plan:
Omni Network announced the Genesis Airdrop on April 11th, using 3% of the total token amount for the airdrop, totaling 3 million tokens. The following are the token distribution criteria for the airdrop
Subsequently, major exchanges including The First, Binance, and OKX announced the launch of Omni Network. On April 17th, The First officially announced that it will list the OMNI/USDT trading pair in the spot area at 0:00 (UTC + 8) on April 18th. So why has Omni Network received so much attention from the market, and can Omni Network solve the current situation of Ethereum's second-layer liquidity fragmentation? We will now provide a detailed interpretation of Omni Network to help everyone understand this Ethereum ecosystem project.
1. What is OMNI (Omni Network)?
Omni Network is a first-layer blockchain that aims to integrate Ethereum's Rollup ecosystem into a unified system. Using Omni, developers can build local global applications that can access all Ethereum liquidity and users by default. It is supported by a novel blockchain architecture that supports sub-second-level final determinism and obtains security from Ethereum by re-staking.
By providing a unified execution environment - Omni EVM, it allows developers to manage and deploy decentralized applications (DApps) across multiple Layer 2 networks in a central location. Omni Network emphasizes security and adopts an Ethereum-based re-staking model, which not only uses ETH but also its own OMNI token to ensure that the security of the network matches the first layer of Ethereum.
Omni Network uses the CometBFT consensus mechanism to handle communication between Rollups, and achieves sub-second message verification through pre-determination and transaction insurance mechanisms, thereby accelerating the speed of cross-Rollup transactions. In addition, Omni Network supports backward compatibility, allowing deployed applications to directly access Omni Network without modification. At the same time, Omni proposes a unified Gas market solution to solve the problem of inconsistent Gas tokens between different Layer 2 networks.
2. Omni Network Token Economics
OMNI plays a very important role in the Omni Network protocol.
- Universal Gas Resource: OMNI is used as a payment mechanism to compensate relayers who submit transactions to the target Rollup.
- Omni EVM's Gas: OMNI is the native currency used to process transactions on Omni EVM.
- Network governance: OMNI stakeholders will be responsible for various governance decisions, such as protocol upgrades and other developer functions.
- Staking: The Omni protocol implements a dual staking model to ensure economic security. Security is a function of staking the total value of OMNI and re-staking ETH.
- External Rollup: The source network and target network of the cross-Rollup message.
- Omni validator nodes: a permissionless network of nodes that use CometBFT consensus to validate cross-rollup messages and transactions on Omni EVM. These nodes are protected by staking the total value of OMNI and re-staking ETH.
- Omni blockchain: A single source of truth for all cross-Rollup messages and Omni EVM transactions processed by Omni validator.
- Repeater: An unlicensed entity that submits the final cross-Rollup message from the Omni network to the target Rollup network.
Total supply: 100 million pieces
Initial circulation: 10391492 pieces
Ecosystem Fund: 29.5%
Team: 25.25%
Private equity investors: 20.06%
Community Fund: 12.67%
Publicly published distribution: 5.77%
Binance Launchpool: 3.50%
Consultants: 3.25%
OMNI Token Airdrop Plan:
Omni Network announced the Genesis Airdrop on April 11th, using 3% of the total token amount for the airdrop, totaling 3 million tokens. The following are the token distribution criteria for the airdrop
- Omni community allocated 1.50 million OMNI, accounting for 50%;
- EigenLayer re-pledged users allocated 400,000 OMNI, accounting for 13.3%.
- Beacon chain Solo pledger allocated 300,000 OMNI, accounting for 10%;
- Milady Maker and Redacted Remilio Babies NFT holders were allocated 380,000 OMNI, accounting for 12.7%.
- Pudgy Penguin NFT holders were allocated 170,000 OMNI, accounting for 5.7%.
- Ninjas NFT holders are allocated 75,000 OMNI, accounting for 2.5%.
- The strategic cooperation agreement allocated 175,000 OMNI, accounting for 5.8%.
