Introducing OMNI NETWORK ($OMNI) the 52nd project on Launchpool. #OMNI is a Layer 1 blockchain which plans to integrate all Ethereum Rollups into a single system. $OMNI is an ERC-20 token which will be used to pay for gas fees, network governance and staking.

First, what is a "Rollup"?

Ethereum network (L1) is facing a number of challenges right now including slow transaction (txn) processing, high gas fees, and so on. To overcome this problem, Layer 2 (L2) scaling solutions were developed, called ROLLUPs, which combine multiple Ethereum txns into a single form of data, then submit them all to the blockchain. This results to saved block space, reduced txn cost, and faster txn speed.

So basically, OMNI plans to integrate all these fragmented rollups (which degrades network performance), into a single, interoperable network. Their goal as per their whitepaper is to enable "Ethereum to return to its role as a unified network for decentralized applications".

What does it mean by "interoperable"? Simply put, OMNI provides developers a cross-rollup messaging mechanism (using CometBFT consensus) to allow diverse rollups to communicate with each other, and integrate Ethereum's liquidity and users into their applications.

OMNI uses validators, and also has a dual-staking model similar to #EtherFi to secure the network.

They launched last Q2 of 2023 and the mainnet is about to be launched Q2 of 2024. So this is an exciting moment for their roadmap, which could potentially pump the price.

TOKENOMICS

Token Supply: 100M

Token Sale: 20M (20%)

Launchpool Total: 3.5M (3.5%)

Circulating Supply upon listing: 10.39M (10.39%)

Their token sale price was $1.50 and with the small amount of supply, I estimate its listing price to be $3 - $5.

If this project is adopted by existing L2 solutions, it will bring great impact on the Ethereum ecosystem. This can have a bright future ahead similar to $ETHFI and $ENA once listed.

NOTE: You may find posts from other users almost similar to this original post of mine which are rewritten using AI without giving credit to me. - @futurbnk