Today Binance officially announced that the Omni Network crypto, OMNI, is coming to its Launchpool.
Introducing Omni Network $OMNI on #Binance Launchpool!
Farm $OMNI by staking #BNB and $FDUSD.
https://t.co/SYfSgA3ZsJ pic.twitter.com/x1TuWmXBz9
— Binance (@binance) April 12, 2024
This is the 52nd project launched by Binance’s Launchpool, and the ninth launched in 2024.
The OMNI crypto coming to Binance’s Launchpool
OMNI will be the native cryptocurrency of Omni Network.
Omni Network will in turn be a Layer 1 blockchain designed to integrate the Ethereum rollup ecosystem into a single unified system.
The project should not be confused with Omni Layer, a protocol created in 2012 and famous mainly because it was the first chain on which the stablecoin USDT was launched.
Omni Network and Omni Layer have nothing to do with each other, despite the identical name.
Moreover, Omni Layer also has its own cryptocurrency, called OMNI, already present on the crypto markets since 2013.
The two cryptocurrencies unfortunately have the exact same name, and therefore can be easily confused with each other.
The new OMNI cryptocurrency from Omni Network does not yet exist on the markets, and will be launched for the first time by Binance Launchpool.
They will be distinguishable from the network, because the new OMNI will exist on the new Omni Network, while the old OMNI exists only on the network that has been existing for years on Omni Layer.
There are at least two other tokens with the same name, one from Omniswap and one from OmniCat, both of which have nothing to do with the new OMNI from Omni Network.
The launch of the crypto on Binance after the Launchpool
Binance Launchpool will start the farming of the new OMNI on Saturday, April 13, 2024, allowing its users to stake BNB or FDUSD in separate pools and receive OMNI tokens in exchange for free. The farming will last only 4 days.
On Wednesday, April 17th, Binance will list OMNI, starting trading with the pairs OMNI/BTC, OMNI/USDT, OMNI/BNB, OMNI/FDUSD, and OMNI/TRY. The new token will have the Seed Tag applied.
Out of a maximum supply of one hundred million OMNI tokens, Binance’s Launchpool will distribute 3.5 million in rewards to farmers, equal to 3.5% of the maximum supply.
The initial circulating supply will be a total of 10,391,492 tokens, equal to 10.39% of the maximum supply.
OMNI will be a token on the Ethereum network.
Other launches on the Binance Launchpool
A few days ago another crypto was launched on Binance’s Launchpool, namely SAGA.
The first day of listing the price immediately soared from $4.9 to $7.6, setting a new all-time high. In the following three days, however, the price has only been decreasing, returning to the initial levels of $4.9.
The crypto previously launched by Binance’s Launchpool, ENA by Ethena, has instead followed a different trend.
Indeed, it debuted at $0.6, then exceeded $1.2 the following day. After dropping back to $0.8 two days later, it started to rise again, so much so that the current all-time high of $1.5 was recorded yesterday. Now it is $1.4, which is a higher figure than the maximum of the day following the launch.
At this moment, the ENA token is currently the cryptocurrency launched by Binance’s Launchpool with the highest market capitalization, the only one worth over 2 billion dollars in total.
In second place there is SUI, launched in March of last year, with about 1.9 billion dollars, and in third place there is SEI, launched in August of last year.
The other OMNI tokens
Since the new OMNI cryptocurrency of the new Omni Network has not yet been listed on any exchange (the first will be Binance), upon the news release the other OMNI tokens have recorded significant price gains.
This simply refers to mistakes made by those who were unable to distinguish the old OMNI tokens from the new one, leading them to unintentionally purchase another token in the hope of a price increase.
The original OMNI from Omni Layer has surged by 314% in the last few hours, although it remains down by -99% from the 2013 highs, the year of its launch.
OMNI by Omniswap does even better, with a +522% in just a few hours which still doesn’t allow it to go beyond the -97% from last year’s highs.
OMNI by OmniCat instead today stops at +19%, but at least from last year’s highs it “only” loses 85%.
These are three tokens that have now run their course, and therefore had very low trading volumes. For example, on OMNI by Omniswap, the trading volume does not exceed $6,000 daily, which is practically irrelevant for the crypto markets.
OMNI by Omni Layer does not exceed $19,000 in trading volumes, while at least OMNI by OmniCat exceeds 5 million. It is precisely for this reason that the latter has not experienced such an exaggerated price spike.
