Last week, the Omni Foundation announced the $OMNI Genesis Airdrop, a key milestone in Omni’s journey to a fully decentralized web. Today, the Omni Foundation expanded on the supply and tokenomics of $OMNI. $OMNI is an ERC-20 token issued on Ethereum L1 with a maximum supply of 100,000,000. In the initial phase, the circulating supply of $OMNI is 10,391,492 (or 10.39% of the total supply). $OMNI will play a key role in the Omni protocol, and here’s a breakdown.
$OMNI Genesis Airdrop
Claims for the $OMNI Genesis Airdrop will go live on the Genesis Claim Portal at 11:00 UTC on April 17, 2024. Community members will also be able to stake $OMNI through the Claim Portal to receive additional rewards. We strongly encourage community members to remain vigilant and beware of potential scams.
Token Allocation and Release Plan
$OMNI will be allocated to the following categories:
Public Launch: 9.27% of the total supply (9,270,000 $OMNI) will be used for the public launch. Last week, the Omni Foundation released details of the $OMNI Genesis airdrop. Early testnet users, community members, and protocol partners can begin claiming their $OMNI Genesis rewards at 11:00 UTC on April 17. 3,000,000 $OMNI will be allocated as a recognition of the community's contribution in launching Omni and the broader Ethereum ecosystem, and the remaining public launch tokens will be used for the public launch pool and liquidity.
Ecosystem Development: 29.5% of the total supply (29,500,000 $OMNI) will be used for ecosystem development. Developers are key to driving a new generation of globally accessible applications on Omni and all Ethereum rollups. Omni is committed to cultivating a thriving community of developers developing applications based on the Omni EVM and Ethereum rollup ecosystem. Initially, $OMNI tokens will be used at the discretion of the Omni Foundation, with this responsibility shifting to token holder governance in the future. During the initial phase, 496,492 $OMNI will enter the circulating supply for early validator rewards and network launch.
Future Plans: 12.67% of the total supply (12,666,667 $OMNI) will be used for future initiatives such as grants and other related projects that are critical to the growth and adoption of Omni. Initially, these community growth tokens will be used at the discretion of the Omni Foundation, with this responsibility shifting to token holder governance in the future.
Core Contributors: 25.25% of the total supply (25,250,000 $OMNI) will be allocated to current and future contributors to the protocol. Token allocations to individual contributors will have a 4-year vesting period (from the date of joining the project), with 1/4 of the tokens unlocked after 1 year, and the remaining 3/4 of the tokens unlocked gradually every 6 months. All tokens allocated to core contributors will be unlocked within 3 years after the token generation event, including 1/3 of the tokens unlocked after 1 year, and the remaining 2/3 of the tokens will be unlocked gradually every 6 months.
Key Functions of $OMNI
$OMNI will play a variety of key roles in the Omni Protocol, including but not limited to:
Network Governance: Token holders will be able to participate in the governance decisions of the network and determine the direction of the ecosystem.
Staking Rewards: By staking $OMNI, community members can receive additional rewards and increase the number of tokens they hold.
Ecosystem Incentives: $OMNI will be used to incentivize developers and other participants to drive the development of the Omni Protocol and the broader Ethereum ecosystem.
Security and Community Warnings
Community members should remain highly vigilant when claiming and staking $OMNI to avoid potential scams. Official channels are the only way to get the latest information and participate safely. We recommend that community members regularly visit the Omni Foundation’s official website and social media platforms for the latest announcements and security tips.
Conclusion: The Omni Foundation has demonstrated its commitment to a fully decentralized network through the $OMNI Genesis airdrop and detailed token economics plan. $OMNI is not only a token, but also an important part of the Omni protocol, which will play a key role in future development. We look forward to seeing the active participation of community members and jointly promote the growth and maturity of the Omni protocol.