A brief analysis of the past and present life of Binance’s new currency OMNI

The market keeps falling, and the only hope in the near future is OMNI. Although the number of airdrops found so far is less than expected, the fact that OMNI can be launched on Binance is indeed far beyond expectations.

The total number of OMNI tokens is 100 million, with only 10,391,492 in initial circulation, of which 3.5 million can be mined by Binance Lanchpool, with less than 3 days left: https://launchpad.binance.com/ zh-CN

I am really familiar with the OMNI project. Their predecessor was Rift, a DAO liquidity provider. In February 2022, they announced the completion of 18 million in financing. Pantera led the investment and Coinbase participated. Last year, they transformed into L1 and simultaneously changed their name to OMNI.

I started the CX project in February 2022 and participated in almost all activities, including MOD, contributor, AMA/deposit POAP. Later, the project was transformed, and the MOD and contributor status were removed, leaving only OG (a total of 162 in the community).

According to common sense, OMNI airdrops will be weighted for OG and POAP holders, but the currently announced rules do not take into account both. Fortunately, the current airdrop plan does not seem to be the final version. We look forward to the team listening to the community’s opinions and focusing on taking care of them. Excluding OG and POAP holders, after all, we are the real old friends who have been with the project for 3 years.

What is gratifying is that with my repeated CX, many group members have obtained $OMNI. Some members of the group made a temporary raid with multiple accounts and easily picked up hundreds of them. Congratulations in advance.

Through the OMNI airdrop, I would like to emphasize two points: you think the payment is less, but in fact there are more people carrying the burden forward, such as me; for those with a history of transformation If you continue to be optimistic about the project, you will treat it as if it were a new project.

Complaints are complaints, but you still can’t forget why you set out in the first place, just like you have worked hard to lick a goddess for many years, but the goddess gets married and has children with someone else. All you can do is wish her happiness. Next, let’s take a closer look at the “goddess” of OMNI:

①Project Overview

Omni was formerly Rift. It is currently working on an interoperability layer based on Ethereum, allowing developers to Program global applications spanning the entire Rollup ecosystem on Ethereum.

The official adopts the dual pledge mode of re-pledged ETH and its own OMNI token to protect its validator set through re-pledged ETH, making its security consistent with Ethereum L1, thereby achieving higher stability .

②Team Background

The core members of OMNI all have Harvard backgrounds and are top-notch in the entire Web3 field.

@0xASK: CEO, graduated from Harvard University and Stanford University, worked at Ripple and Microsoft

@ttarsi_: CTO, graduated from Harvard University, and later served as a teaching assistant in the Harvard Mathematics Department

@MattPoreda: COO, graduated from St. Petersburg State University and Harvard Business School, worked at IBM and Harvard Kennedy School

As the earliest contributor to OMNI, I sincerely give some advice to several bosses: The airdrop scope takes as much consideration as possible to community OGs and POAP holders, who are the earliest supporters.

As one of the earliest contributors to OMNI, I sincerely make a suggestion to the bosses: the airdrop scope should take into account community OGs and POAP holders as much as possible, who are the earliest supporters.

③Financing situation

According to the Binance research report, Omni raised US$18.1 million through two rounds of private token sales, with a total of 20.1% of the total token sales. The unit prices of the two rounds were respectively US$0.18 and US$0.18. $1.50.

Omni has good investors, including large institutions such as Pantera and Coinbase, as well as the founders of Ma Xie and Aave/Lens.

④Project Highlights

Referring to the Binance research report, Omni has the following four major highlights:

Double pledge model: Omni is a proof-of-stake network, consisting of re-staking The total value of ETH and OMNI staked provides protection.

Sub-second verification: Omni nodes use CometBFT consensus to process cross-aggregation messages and Omni EVM transactions within one second, using alternative finalization mechanisms such as pre-confirmation and transaction insurance, which can provide sub-second level for cross-aggregation messages Final confirmation.

Diverse rollup support: Omni is designed with minimal integration requirements to ensure compatibility with any rollup virtual machine, programming language, and data availability architecture.

Backwards Compatibility: Applications can integrate Omni without modifying existing smart contracts. Instead, applications can use modified front-end instructions to send cross-aggregation messages through Omni.

⑤Airdrop Rules

According to the official genesis airdrop rules previously announced, 3% of the total token supply is used for airdrop, and the distribution plan is as follows↓

·Omni community distribution : 1.5 million pieces, accounting for 50%

·EigenLayer re-staking users: 400,000 pieces, accounting for 13.3%

·Beacon chain Solo pledgers: 300,000 pieces, accounting for 10 %

·Milady Maker and Redacted Remilio Babies NFT holders: 380,000 pieces, accounting for 12.7%

·Pudgy Penguin NFT holders: 170,000 pieces, accounting for 5.7%

·Ninjas NFT holders: 75,000, accounting for 2.5%

·Strategic cooperation agreement allocation: 175,000, accounting for 5.8%

After reading this rule, I am both happy and sad. I am happy that my fat penguin can receive dozens of coins, which is more than many users who have participated in the test from beginning to end. What is sad is that the roles and POAP played during the Rift period do not have any weighting. .

The current airdrop plan is controversial, focusing on two points:

1) The airdrop share to the external NFT community is relatively large, which dilutes the members of this community The ratio

2) The OG status that represents loyal supporters has no weight, and the POAP that saves money for tens of dollars of gas on the mainnet has no use either

The meaning of watching DC today Yes, the airdrop rules are still being revised, and a last-minute reversal cannot be ruled out. It is recommended that early supporters unite and provide feedback in a calm manner. We also hope that the team will listen to the opinions of the community extensively.

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