What Is Omni Network (OMNI) Coin: Something You Need Know About It
Omni Network (OMNI) is the 52nd Launchpool project of Binance. The project is a groundbreaking cross-over Rollup protocol for Ethereum that aims to improve user interaction by securely connecting all Rollups using remortgages, expand market access and consolidate liquidity across the Layer 2 ecosystem. Rollups is Ethereum’s current and future scaling solution.
Then, in this article, we will explore what the Omni Network and OMNI coin are, and analyze the possibilities for the future of OMNI coin.
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Omni Network (OMNI) Price Analysis
Omni Network (OMNI) Price Prediction
Is Omni Network (OMNI) a Good Investment in 2024?
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What is the Omni Network?
The biggest existential threat to Ethereum is fragmentation caused by Rollup. As Rollup continues to grow in popularity, Ethereum’s users and their capital are increasingly dispersed into isolated ecosystems, reducing the global network effect. While Omni Network solves this problem by consolidating all Rollups into a cohesive, interoperable network.
Omni Network is Ethereum’s integrated rollup and Layer 1 blockchain designed to enhance Ethereum cross-rollup interoperability. It allows developers to integrate the Omni network into their dApps without any changes to the code and send cross-rollup messages through the network. In short, the Omni Network combines the security of Ethereum with the flexibility and scalability of Cosmos.
The Omni Network’s operating model can be considered as a Layer 1 platform, where the blockchain built on the Omni Network is the Rollup Chains. However, the Omni Network operates differently from Ethereum and current Layer 2 solutions. The main difference is that the Omni Network’s target platform is built around cross-rollup applications.
Cross-rollup applications can easily interact with each other, process and transmit messages, thus creating synchronization and connectivity within the Omni Network ecosystem. This also means that cross-chain solutions are not required to transform assets within the cross-rollup application ecosystem.
Overall, the Omni Network aims to be the “Ethereum interoperability infrastructure,” providing interoperability for Rollup networks such as Optimism, Arbitrum, zkSync, and Starkware to become the core infrastructure for all Rollup networks and modular applications on Ethereum, enabling a seamless and secure cross-Rollup user experience.
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How does Omni Network Work?
Omni Network will be operated by the Ethereum network’s restakes, acting as a verifier to ensure security.
By using Tendermint’s consensus mechanism and the flexibility of the Cosmos SDK, Omni Network validator can confirm the Rollup’s status faster than Layer 1, making Omni a fast information transfer layer for other Rollup or Layer 1. Omni is EVM-compatible, allowing developers to build applications across multiple chains using Solidity and EVM, and Omni’s execution layer is compatible with EVM supported by Evmos Ethermint.
The following sets forth the key features of Omni Network:
- Benefits for Developers and Users: the unified environment fostered by Omni Network unlocks a treasure trove of advantages for both developers and users:
- Unified Applications: developers can design dApps that operate seamlessly across the entire Ethereum rollup landscape, eliminating the need for separate versions for each rollup.
- Upgraded Assets: token issuers can enhance their tokens by granting them access to the global liquidity and application integrations available across all rollups.
- Expanded Applications: existing applications can expand their reach beyond a single rollup’s user base and liquidity, without requiring code modifications.
- Innovation for Developers: Omni unlocks a new frontier for developers, empowering them to create a new generation of global applications that tap into the full potential of the Ethereum rollup ecosystem.
- Seamless User Experience: with gas abstraction, users no longer need to hold native tokens for each network they interact with. They can pay fees with a single token, simplifying cross-chain transactions.
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What is OMNI Token?
OMNI is the native token of Omni Network and plays the following roles in the protocol:
- Universal Gas Resource: OMNI is used as the payment mechanism to compensate relayers submitting transactions to destination rollups.
- Gas for Omni EVM: OMNI is the native currency for processing transactions on the Omni EVM.
- Network Governance: OMNI stakeholders will be responsible for various governance decisions such as protocol upgrades and additional developer features.
- Staking: The Omni protocol implements a dual staking model for economic security. Security is a function of the combined value of staked OMNI and restaked ETH.
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OMNI Tokenomics
According to the Omni Network Token Economics published by Binance, the total supply of OMNI tokens is 100 million and the initial circulation is 10,391,492 (accounting 10.39% of the total number of tokens).
The initial distribution of OMNI token is as follows:
- Private Sale Investors: 20.06%
- Public Launch Allocation: 5.77%
- Binance Launchpool: 3.50%
- Team: 25.25% (with a vesting schedule)
- Advisors: 3.25% (with a vesting schedule)
- Ecosystem Fund: 29.50%
- Community Fund: 12.67%
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Omni Network (OMNI) Price Analysis
According to the announcement from Binance on April 12, Omni Network (OMNI) will debut as Binance’s 52nd Launchpool project.
Omni’s unique approach to Ethereum Rollups interoperability will soon be available to all users and developers. The Omni Labs team recently deployed its final test network, Omni Omega.
In the second quarter, Omni will be the first AVS to launch on the mainnet, bringing secure, high-performance interoperability solutions to Ethereum’s decentralized Rollup environment. Just as Rollups was established as the core infrastructure for transaction processing, Omni is expected to become the standard for interoperability within the Ethereum ecosystem.
As of writing the article in June 12, Omni Network (OMNI) is traded at a price of $15.39, up 6.80 % over the past 24 hours. Meanwhile, Omni Network (OMNI) records a market cap of $125.053 million and a 24-hour trading volume of $29.604 million.
The following sets forth the OMNI to USD Price Chart.
For more information about OMNI coin, please visit BTCC OMNI quote page.
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Omni Network (OMNI) Price Prediction
Omni Network (OMNI) Price Prediction 2024
As for Omni Network (OMNI) price prediction for 2024, market indicators suggest that Omni Network (OMNI) is estimated to trade within the range of $$16.50 on the lower end and $65.977 the high end by the end of year 2024.
Omni Network (OMNI) Price Prediction 2025
In terms of Omni Network (OMNI) price prediction for 2025, it is currently predicted that Omni Network (OMNI) would be traded between $ 14.55 on the lower end and $ 68.34 on the high end. Compared to today’s price, Omni Network could gain 348.57% by 2025 if OMNI reaches the upper price target.
Omni Network (OMNI) Price Prediction 2030
As for long-term price prediction for 2030 on Omni Network, it is currently projected that Omni Network (OMNI) would be traded at a minimum price of $ 36.24 and a maximum price level of $ 58.77 by the end of 2030. Compared to today’s price, Omni Network could gain 285.72% by 2030 if it reaches the upper price target.
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How to Buy OMNI Coin?
OMNI coins were scheduled to be traded securely on Binance, the world’s largest cryptocurrency exchange by trading volume. Binance launched OMNI at 20:00 on April 17, and opened OMNI/BTC, OMNI/USDT, OMNI/BNB, OMNI/FDUSD and OMNI/TRY trading pairs.
Note: BTCC supports OMNI token trading for the time being with a leverage up to 20Χ. If you are interested in this, you can click the button below to enter the trading page.
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Is Omni Network (OMNI) a Good Investment in 2024?
As a relatively new coin emerged in crypto market, OMNI token has shown massive growth potential. As the Omni Network continues to push the boundaries of Ethereum-native interoperability, embedding itself as a key player in the blockchain evolution, it opens up unprecedented opportunities for investors and developers alike. Despite the large fluctuation of this coin, investors are still very optimistic about its future outlook, believing Omni Network (OMNI) would emerge as a good investment option in 2024.
However, as a cryptocurrency, OMNI is quite volatile in price, which can easily be affected by many factors like platform development, adoption and user growth, market sentiment, institutional adoption and political regulations, etc. As any investor carries both opportunities and risks, investors are advised to pay close attention to market dynamics and make cautious decisions.
That’s all information about Omni Network (OMNI). If you want to know more information about Omni Network (OMNI) coin and other cryptocurrencies, please visit BTCC Academy.
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