Leading global crypto exchange Binance plans to launch trading support for a new layer-1 altcoin project via its Launchpool platform.
Binance Launchpool, which allows users to stake coins to grow new assets, say the 52nd project will be Omni Network (OMNI), a network that aims to integrate Ethereum’s (ETH) rollup ecosystem into a single, unified network.
Explains the project,
“Omni is an Ethereum-native interoperability protocol that establishes low-latency communication between all Ethereum rollups. Omni provides a secure, high-performance, and globally compatible architecture that presents Ethereum as a single, unified operating system for both users and developers.”
Between April 13 and 17, Binance users can stake BNB, the crypto exchange platform’s original asset, and the stablecoin First Digital USD (FDUSD) in separate pools to farm OMNI tokens.
The exchange then plans to list the asset on April 17. Binance will attach a Seed tag to OMNI, which the exchange will apply to projects with lower liquidity that may exhibit higher volatility compared to other listed tokens.
Binance requires users who own assets with Seed tags to take quizzes every 90 days to ensure they are aware of the risks before trading the tokens.
Last week, Binance Launchpool started support for Saga (SAGA), a layer 1 project that aims to enable developers to launch interoperable, application-specific chains called ‘Chainlets’.
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Generated image: Midjourney