HomeNewsStake and Trade: Binance Launchpool Introduces Support for Omni Network (OMNI) Users

Stake and Trade: Binance Launchpool Introduces Support for Omni Network (OMNI) Users

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  • Post-staking period, Binance will list OMNI tokens for trading, beginning April 17, with special attention to volatility.
  • OMNI tokens tagged as ‘seed’ require users to pass educational quizzes every 90 days to understand associated risks.

Binance, a leading cryptocurrency exchange globally, is introducing support for a new blockchain project named Omni Network (OMNI) through its Launchpool platform. This feature on Binance enables users to stake existing cryptocurrencies to gain new digital assets as rewards.

Omni Network is designed to enhance Ethereum’s rollup ecosystem by integrating it into a unified network. This aims to facilitate smoother and more efficient communications between different Ethereum rollups, effectively presenting Ethereum as a cohesive operating system to users and developers alike.

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From April 13th to 17th, Binance customers have the option to stake Binance Coin (BNB) and the stablecoin First Digital USD (FDUSD) to earn OMNI tokens. Following this period, Binance plans to officially list the OMNI tokens for trading starting April 17th.

As part of risk management for new and potentially volatile tokens, OMNI will be assigned a “seed” tag by Binance. Tokens with this designation require holders to complete educational quizzes every 90 days to confirm their understanding of the associated trading risks.

Read more: Binance to discontinue support for Bitcoin NFTs, known as Bitcoin Ordinals, in its NFT marketplace on April 18

This initiative is part of Binance’s continuous efforts to foster innovation within the blockchain space. This introduction of the OMNI token follows closely after the support for Saga (SAGA), another blockchain project aimed at enabling developers to create interoperable, application-specific chains, or “Chainlets.”

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Isai Alexei
Isai Alexei
As a content creator, Isai Alexei holds a degree in Marketing, providing a solid foundation for the exploration of technology and finance. Isai's journey into the crypto space began during academic years, where the transformative potential of blockchain technology was initially grasped. Intrigued, Isai delved deeper, ultimately making the inaugural cryptocurrency investment in Bitcoin. Witnessing the evolution of the crypto landscape has been both exciting and educational. Ethereum, with its smart contract capabilities, stands out as Isai's favorite, reflecting a genuine enthusiasm for cutting-edge web3 technologies. Business Email: info@ethnews.com Phone: +49 160 92211628