Omni Network (OMNI)

Let’s dive deeper into the question: “What is the Omni network?”

The 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.

At the heart of the protocol’s security lies the dual Proof of Staking mechanism, powered by the security of the restaked ETH through EigenLayer and the platform’s native token $OMNI.

Token utility: The $OMNI token, while playing a crucial role in powering the network’s PoS mechanism, is also used for granting access to Omni’s governance votings, paying fees for utilizing the network, and rewarding node runners.

On the 11th APR 2024, the network announced the launch and airdrop $OMNI, followed by the $OMNI IEO on Binance the next day after announcement. 

Considering all the courage and different narratives around the Omni network token, airdrop and IEO, here are some major pros and cons related to the Omni network crypto project:

Omni network pros:

• Highly demanded product that aligns with "bullish L2 and liquid restacking narratives" across the crypto community
• Relatively low Initial Market Cap/Fully Diluted Valuation ratio (10.39%)
• Low token inflation rate (0.948%)
• Strong performance in PR, Growth, and Social Media Marketing.
• Listing and IEO on Binance
• Presence of tier 1 funds and partners supporting the project
• Experienced team with a relatively strong track record.

Omni network cons:

• There's no mainnet launch announcement yet
• Security audits have not been announced despite the mainnet is yet to be launched
• Lack of transparency in private round investment conditions: there are hardly any details on the project's Seed and Series A round.
• Weak marketing infrastructure
• Below-the-average Influencer marketing performance.