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Omni Network(OMNI)

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$13.0371
(1.52%)
0.00020676 BTC
Market Cap (Rank#330)
$109,649,916
1,739 BTC
Vol 24h
$15,081,017
239.17 BTC
Circulating Supply
8,410,597.56
Max Supply
100,000,000
133 days agocoindesk
Omni Network Signs $600M Restaking Deal With Ether.Fi to Enhance Security
Liquid restaking protocol Ether.Fi will commit $600 million worth of ether {{ETH}} in a delegation deal to secure the Omni Network.
161 day agocryptopotato
Reunit Wallet Launches Reward Program: Trade to Earn
[PRESS RELEASE – London, United Kingdom, February 5th, 2024] Reunit Wallet, an omnichain wallet built on technology developed by LayerZero & Stargate Finance, is launching a volume-based reward program. In an effort to stimulate trading activity on its integrated platform and attract new users, Reunit Wallet is implementing a reward system for traders. Starting now, […]
172 days agocryptopotato
Lif3 Accelerates DeFi Adoption and Innovation with BitFinex Listing
[PRESS RELEASE – Roadtown, British Virgin Islands, January 25th, 2024] Followed by LIF3’s Token Migration to Ethereum Network for Enhanced Market Accessibility Today, $LIF3 (pronounced Life), a ground-breaking and complete omni-chain DeFi Layer-1 Curated Blockchain ecosystem, announces its recent listing on Bitfinex (https://trading.bitfinex.com/t/LIF3:USD), a premier digital asset trading platform, after recently migrating to the Ethereum […]
223 days agocryptopotato
Curvance Raises $3.6M in Seed Round from Over 20 DAOs and DeFi Builders including Offchain Labs and Wormhole
[PRESS RELEASE – Cayman Islands, Cayman Islands, December 5th, 2023] Curvance introduces a new, efficient approach for users to yield farm and maximize yield on their DeFi investments Curvance, a full-service omnichain money market for yield-bearing, LSDfi, tokenized treasuries, and primitive assets, announces the close of a $3.6M seed round supported by Offchain Labs, Wormhole, […]
241 day agocryptonomist
Merkle Trade: how to get the airdrop from the perpetual DEX
Merkle Trade is a gamified omnichain perpetual DEX built on top of Layer Zero technology
314 days agocryptodaily
WEMIX introduces “unagi”: a new omnichain initiative that transcends blockchain boundaries
WEMIX has unveiled unagi, short for Unbound Networking & Accelerating Growth Initiative, which aims to construct an all-encompassing ecosystem that goes beyond the limitations of diverse blockchains by seamlessly integrating, connecting and encompassing multiple networks,
314 days agocryptopotato
WEMIX Introduces “Unagi”: a New Omnichain Initiative that Transcends Blockchain Boundaries
[PRESS RELEASE – Seoul, South Korea, September 5th, 2023] Aims to create a vast ecosystem to drive common growth of global blockchains Complete user-customized omnichain network to easily and conveniently utilize services across multiple blockchains All platforms and dApps are connected as one with blockchains bringing complementary strengths to the ecosystem WEMIX has unveiled unagi, […]
322 days agocryptopotato
Stargate Deploys to Kava Chain Unifying Cosmos-Ethereum Liquidity
[PRESS RELEASE – Georgetown, Cayman Islands, August 28th, 2023] Stargate, the leading omnichain liquidity layer, and native asset bridge with over $18 billion in lifetime transaction volume, has now deployed on Kava Chain, the Cosmos-Ethereum interoperable Layer 1. This integration will expand the reach of Tether’s Cosmos-native USDt issued exclusively on the Kava Chain, to […]
322 days agocryptodaily
Stargate Deploys to Kava Chain Unifying Cosmos-Ethereum Liquidity
Georgetown, Cayman Islands, August 28th, 2023, Chainwire Stargate, the leading omnichain liquidity layer, and native asset bridge with over $18 billion in lifetime transaction volume, has now deployed on Kava Chain, the Cosmos-Ethereum interoperable Layer 1. This integration will expand the reach of Tether’s Cosmos-native USDt issued exclusively on the Kava Chain, to the Ethereum ecosystem and beyond. Stargate's success in connecting Ethereum networks is unmatched, with 300x more TVL than the next most-used bridge. Deploying Stargate on the Kava Chain gives DeFi users the most secure and efficient way to move USDt between the Cosmos and Ethereum ecosystems. The integration ensures that users from any of Stargate’s chains have access to USDt on Kava Chain and every app-chain on Cosmos’s Internet of Blockchains. Ease-of-use features like single-click transfers and swaps, combined with unified liquidity and instant guaranteed finality, make traversing USDt capital efficient and simple. Stargate's native asset transaction capabilities ensure a more direct and efficient connection to the Cosmos ecosystem. “Kava Chain’s growth since becoming the exclusive native USDt hub for Tether has been impressive, with 90 million native USDt issued,” said Scott Stuart, Kava Chain Co-founder. “With Kava Chain now on Stargate, both retail and institutional users who previously had restricted access to certain features on Kava, now have an even broader spectrum of opportunities with USDt.” Stargate's involvement, combined with the Kava Chain's USDt integration, promises to drive growth, increase exposure to liquidity, and open the Kava Chain and Cosmos ecosystems to wider markets, unprecedented usage for the first time. About the Kava Chain The Kava Chain is a secure, lightning-fast Layer-1 blockchain that combines the developer power of Ethereum with the speed and interoperability of Cosmos in a single, scalable network. Committed to fostering innovation and growth, the Kava Chain is a trusted choice for developers and users worldwide. For more updates, follow Kava Chain on X (fka Twitter). About Stargate Stargate is a fully composable liquidity transport protocol that lives at the heart of Omnichain DeFi. With Stargate, users & dApps can transfer native assets cross-chain while accessing the protocol’s unified liquidity pools with instant guaranteed finality. Contact Media managerguillermo [email protected]
322 days agocryptodaily
Stargate Deploys to Kava Chain Unifying Cosmos-Ethereum Liquidity
Georgetown, Cayman Islands, August 28th, 2023, Chainwire Stargate, the leading omnichain liquidity layer, and native asset bridge with over $18 billion in lifetime transaction volume, has now deployed on Kava Chain, the Cosmos-Ethereum interoperable Layer 1. This integration will expand the reach of Tether’s Cosmos-native USDt issued exclusively on the Kava Chain, to the Ethereum ecosystem and beyond. Stargate's success in connecting Ethereum networks is unmatched, with 300x more TVL than the next most-used bridge. Deploying Stargate on the Kava Chain gives DeFi users the most secure and efficient way to move USDt between the Cosmos and Ethereum ecosystems. The integration ensures that users from any of Stargate’s chains have access to USDt on Kava Chain and every app-chain on Cosmos’s Internet of Blockchains. Ease-of-use features like single-click transfers and swaps, combined with unified liquidity and instant guaranteed finality, make traversing USDt capital efficient and simple. Stargate's native asset transaction capabilities ensure a more direct and efficient connection to the Cosmos ecosystem. “Kava Chain’s growth since becoming the exclusive native USDt hub for Tether has been impressive, with 90 million native USDt issued,” said Scott Stuart, Kava Chain Co-founder. “With Kava Chain now on Stargate, both retail and institutional users who previously had restricted access to certain features on Kava, now have an even broader spectrum of opportunities with USDt.” Stargate's involvement, combined with the Kava Chain's USDt integration, promises to drive growth, increase exposure to liquidity, and open the Kava Chain and Cosmos ecosystems to wider markets, unprecedented usage for the first time. About the Kava Chain The Kava Chain is a secure, lightning-fast Layer-1 blockchain that combines the developer power of Ethereum with the speed and interoperability of Cosmos in a single, scalable network. Committed to fostering innovation and growth, the Kava Chain is a trusted choice for developers and users worldwide. For more updates, follow Kava Chain on X (fka Twitter). About Stargate Stargate is a fully composable liquidity transport protocol that lives at the heart of Omnichain DeFi. With Stargate, users & dApps can transfer native assets cross-chain while accessing the protocol’s unified liquidity pools with instant guaranteed finality. Contact Media managerguillermo [email protected]
333 days agocointelegraph
Tether discontinues Bitcoin stablecoin, citing lack of usage
The Tether (USDT) stablecoin will no longer be issued on the Bitcoin Omni Layer, while redemptions will still be open for at least a year.
333 days agocryptopotato
Tether Just Axed USDT Support For These 3 Blockchains
Tether will no longer mint USDT on Omni – the first protocol ever to support USDT.
333 days agocoindesk
Tether Stops Support for Bitcoin Layer Omni Citing Lack of Demand
Stablecoin issuer Tether has announced that it will discontinue support for Omni, a Bitcoin layer that has been used for USDT transfers since 2014.
358 days agocryptodaily
Crypto Weekly Roundup: UK Rejects Treasury’s Proposal And More
The UK’s HM Treasury has officially rejected the House of Commons Treasury Committee’s recent recommendation to regulate crypto trading not as financial assets but as gambling instruments. Let’s find out more. Bitcoin Elon Musk’s Tesla has continued to hodl its BTC reserves for the fourth consecutive quarter after being forced to divest 75% of its reserves in 2022 Q2. After hitting the range bottom, BTC looks to be heading higher once more, with the bulls looking to test the $31,000 to $32,000 major resistance again. Ethereum In the midst of a rebounding crypto market, Vitalik Buterin has hinted at a forthcoming upgrade to the Ethereum network, which could potentially reduce costs by a factor of 100. DeFi DeFi protocol Conic Finance revealed that it had suffered an exploit, with the attacker draining over 1700 ETH worth $3.6 million from one of its Omnipools. Uniswap founder Hayden Adam’s Twitter account suffered a breach, with hackers sending out several tweets leading users to scam websites and phishing links. Leading DEX platform Spectrum Finance has revealed its strategic collaboration with Cardano, the innovative smart contract platform. Axelar has launched the Interchain Token Service, a solution designed to enhance the interoperability of ERC-20 tokens across all EVM-compatible chains. Altcoins Solana Labs has announced the rollout of the Solang compiler that will help EVM developers transition to the Solana ecosystem. The crypto world eagerly awaits upcoming Litecoin's third halving event, which is expected to happen on August 2, 2023, once the 2,520,000th block is mined. Technology Crypto experts have raised questions on central bank digital currencies like where are all the mainstream media articles or televised debates on the advantages or disadvantages of implementing CBDCs nationwide. Worldcoin has completed its migration to the Optimism ecosystem, with critical components such as the World ID and World App technology stack already migrated to the OP mainnet. Starknet has disclosed the initiation of "appchains," a framework designed to enable developers to construct several application-specific blockchains within the Starknet ecosystem. Business The recently uncovered personal diaries of Alameda Research CEO Caroline Ellison could be used as key evidence in the upcoming trial of FTX founder Sam Bankman-Fried. Venture capital firms Coinfund and Polychain Capital have successfully raised a total of $350 million in their latest fundraising rounds, showcasing returning confidence in the crypto space. American investor Cathie Wood’s ARK Invest sold another $50.5 million worth of Coinbase shares to cash in on the recent crypto market rally. Binance has abruptly ended its five-year partnership with the Argentine Football Association (AFA) after only one year. Regulation A bipartisan group of United States Senators has introduced the CANSEE Act to regulate DeFi platforms in order to curb money laundering and other financial transgressions. The UK government rejected a recent House of Commons Treasury Committee proposal, which suggested that retail crypto trading be regulated like gambling instruments. In the face of legal turbulence surrounding its co-founder, Do Kwon, blockchain firm Terraform Labs has appointed a new CEO. Myanmar’s National Unity Government (NUG), a shadow government opposing the current military rule, is set to launch a crypto neobank operating on the Polygon blockchain network. Enforcement authorities in China’s northern province of Shanxi have uncovered an alleged USDT money laundering scheme amounting to over $55 million. Third largest French bank, Societe Generale, has become the first bank to procure a licence to provide trading and custody of cryptocurrency assets. The International Monetary Fund (IMF) underscored its views that crypto requires “comprehensive policies to safeguard economies and investors.” The founder and former CEO of the now-defunct Thodex crypto exchange, Faruk Fateh Ozer, has received a seven-month prison sentence after he failed to submit relevant documents requested during the trial. Representative Ritchie Torres becomes the latest US lawmaker to level criticism against the SEC and its Chairman Gary Gensler’s position on crypto. The clock has started ticking for the SEC to approve or reject BlackRock’s application for a spot Bitcoin exchange traded fund. Coinbase CEO Brian Armstrong, is set to hold a private meeting with House Democrats on Wednesday, according to Democratic aides familiar with the agenda. US Judge Sarah Netburn has ordered the SEC and Ripple to agree to possible settlement dates should both parties believe them to be constructive at this stage. On Monday, the Financial Stability Board published its recommendations for a global regulatory framework for crypto-assets to “promote the comprehensiveness and international consistency of regulatory and supervisory approaches.” NFT Proof Collective is trying to rekindle interest in its Moonbirds NFTs with a brand new 20,000-piece Mythics collection, released almost a year after its initial mention in August 2022. Staking protocol EtherFi has called out the OpenSea marketplace for its decision to suspend the trading of the former’s EtherFan NFT collection last week. Web3 Andreessen Horowitz partner Sriram Krishnan expressed confidence that Web3 has the potential to remedy the issues plaguing current Web2-based social media platforms. The developers behind Polygon Labs have proposed changes to their governance system that are integral to their forthcoming Polygon 2.0 roadmap. The potential of AR games has yet to be fully realized, but developers have already created lots of highly original apps to enhance our experiences in the physical world. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
359 days agocryptodaily
Conic Finance Becomes Latest DeFi Protocol To Suffer Exploit
DeFi protocol Conic Finance revealed that it had suffered an exploit, with the attacker draining over 1700 ETH worth $3.6 million from one of its Omnipools. Conic Finance is a liquidity pool balancing platform for the decentralized finance protocol Curve. Details Of The Hack According to security firm BlockSec, the attack’s root cause was price manipulation caused by “read-only reentrancy.” Reentrancy is a common bug that allows attackers to exploit smart contracts by tricking them into making repeated calls to the targeted protocol and stealing its assets. A call is an authorization for a smart contract to interact with a user’s wallet address. Web3 risk-alert source Beosin stated that a single transaction sent nearly the stolen amount to a new Ethereum address. Conic Finance reached out to users, tweeting they were investigating the exploit and would share updates soon. “We are currently investigating an exploit involving the ETH Omnipool and will share updates as soon as they are available.” Security firm PeckShield also analyzed the attack, revealing the root cause to be originating from the protocol’s new CurveLPOracleV2 contract. The firm tweeted, “Hi, @ConicFinance. Based on the initial analysis from the malicious tx, our initial analysis shows the root cause comes from the new CurveLPOracleV2 contract. FWIW, our audit identifies a similar read-only reentrancy issue. However, the same issue is introduced in the newly introduced CurveLPOracleV2 contract, which was not part of the audit scope.” Curve has also been following up with Conic Finance, stating that the primary issue had been identified and only the ETH Omnipool was impacted. “If you have funds on @ConicFinance please remove! There seem to be an attack, which though doesn't drain all in one go” Conic later tweeted a detailed version of events, stating that they were alerted of an exploit impacting the $crvUSD Omnipool, adding they had taken all possible safety measures to limit the attack. “Roughly four hours ago, we were alerted of an exploit affecting the $crvUSD Omnipool. In response to this and given today’s ETH exploit, we immediately enforced maximum safety measures and temporarily shut down all Omnipools.” DeFi Hacks A Major Problem The decentralized finance ecosystem has been plagued by a series of high-profile hacks impacting several major projects. A report by Web3 portfolio application De.Fi highlighted the scale of the problem. The reports stated that DeFi hacks and scams resulted in attackers stealing over $200 million in the second quarter of 2023 alone. However, losses to DeFi hacks were smaller in Q2 when compared to Q1 of 2023, with CertiK reporting that protocols lost over $320 million between January and March. Conic Finance had only recently gone live, allowing users to deposit tokens into their Omnipools. Omnipools allowed users to diversify their exposure across the Curve ecosystem and also increased rewards. After going live, Conic Finance was able to attract millions of dollars in capital, highlighting the huge demand for such a product. Conic’s Omnipools work by allocating the liquidity of a single asset across multiple Curve pools. Curve liquidity provider (LP) tokens are staked on Convex, boosting CRV rewards. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
360 days agocointelegraph
Curve omnipool platform Conic Finance hacked for $3.2 million in ETH
According to initial analysis by Peckshield, the root cause for Conic Finance’s hack was the new CurveLPOracleV2 contract.
370 days agocryptodaily
US Lawmakers Call On SEC, DOJ To Investigate Prometheum
Six members of the United States Congress have called on the Department of Justice (DOJ) and the United States Securities and Exchange Commission (SEC) to investigate crypto firm Prometheum. The members have alleged that the firm has close ties with the Chinese Communist Party (CCP). Republicans Step Up Attack On Prometheum The Republican members of Congress stated that the firm’s co-CEO, Aaron Kaplan, may have potentially given false testimony during a Jun. 13 hearing on regulatory clarity in the crypto space. They also alleged that the company may have violated securities laws. The lawmakers stated in a letter written on Jul. 10, stating, “We write to express great concern that Prometheum Inc. (Prometheum) may have provided false testimony to Congress or violated United States securities laws.” The lawmakers further claimed that Prometheum was connected with investors that had close ties with the Chinese Communist Party (CCP), the Shanghai Wanxiang Blockchain and HashKey Digital Asset Group. The group of lawmakers, led by Alabama Senator Tommy Tuberville, called on Securities and Exchange Commission Chair Gary Gensler and Attorney General Merrick Garland to look into the matter. Apart from Tuberville, the letter was signed by Laine Luetkemeyer, R-Miss., Barry Loudermilk, R-Ga., Ralph Norman, R-S.C., Byron Donalds, R-Flor., and Mark Alford, R-Missouri. What Did Kaplan Say? On Jun. 13, Kaplan, the co-founder, and co-CEO of Prometheum, appeared before the US House to discuss regulatory clarity in the crypto space. During the hearing, Kaplan had argued that multiple frameworks put out by the Securities and Exchange Commission had laid out a clear path for crypto firms operating in the United States. Kaplan went so far as to call the Securities and Exchange Commission “the most capable financial markets regulatory agency in the world.” However, what caught the attention of Republican lawmakers were allegations that the company had links with the Chinese Communist Party. Tuberville alleged that Kaplan, during his testimony, had said that Prometheum was developed independently of Wanxiang and HashKey. Kaplan stated in his testimony, "In December 2018, as part of the investment from Hashkey into Prometheum, Prometheum, and Wanxiang agreed to jointly develop a blockchain trading system. Thereafter, in approximately one (1) year, it became clear to Prometheum that joint development was not viable. Upon such realization, Prometheum started to independently develop its own platform. All servers, code, data, and proprietary technology were created independently of Wanxiang and its affiliates. Prometheum does not use any resource, code, or other assets from Wanxiang or its affiliates in any of its systems." According to Kaplan, Prometheum terminated all strategic relationships with Shanghai Wanxiang Blockchain in October 2021. “Prometheum formally terminated all co-development work and strategic relationships with Shanghai Wanxiang Blockchain and its affiliates in October 2021 in an Omnibus Agreement, which was filed with the SEC in November 2021.” However, lawmakers alleged that this contradicted the information that the firm had provided in filings with the SEC, stating that Prometheum still relied on the HashKey partnership, as shown by the SEC filings from 2020-2021. Furthermore, they questioned why Prometheum did not make clear in the filings that the company was developing its own technology platform, entirely independent of its Chinese partners. The senators have yet to give the Securities and Exchange Commission and the Department of Justice a deadline to respond but have said they hope to hear from them soon. Prometheum Responds While Kaplan has not commented on the developments so far, a Jun. 23 op-ed by Kaplan and co-CEO Benjamin Kaplan has claimed that Tuberville’s concerns regarding Prometheum and its alleged ties to China were without merit and relied on old information. “We formally terminated all co-development work and strategic relationships with Wanxiang and its affiliates on Oct. 21, 2021. Prometheum has severed all intellectual property and technology ties to Wanxiang, giving it and its affiliates no access to any information that could expose the U.S. or its citizens to risk.” Concerns About China Republican lawyers have consistently raised concerns about companies having ties with China-based entities or its government when it came to laws and regulations regarding digital assets. Minnesota Rep Tom Emmer and Former Senator Pat Toomey had issued warnings about the use of China’s Digital Yuan during the Beijing Winter Olympics. The current letter to the Securities and Exchange Commission and the Department of Justice comes a month after Tuberville brought forward a bill to ban companies from China from acquiring a stake in American digital asset companies. The bill was co-sponsored by Sen. Kristen Gillibrand, D-N.Y. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
383 days agocryptodaily
Crypto Firm Prime Trust Placed Into Receivership By Nevada’s FID
Nevada’s Financial Institutions Division has placed crypto firm Prime into receivership, having taken control of the company, and has frozen its businesses and operations. The Financial Institutions Division had earlier indicated that Prime Trust had a significant deficit on its books, alleging that it had lost access to several legacy crypto wallets in 2021. Prime Trust Holds A Fraction Of What Is Owed To Clients Prime Trust was previously a financial infrastructure provider for Binance US and several others. According to the receivership request filed in Nevada, Prime Trust owes its clients over $85 million in fiat but currently has only around $3 million available on hand. Furthermore, the company also owes its clients $69.5 million in crypto but holds around $68 million in crypto assets. The move by the Nevada Financial Institutions Division comes just days after BitGo called off its bid to acquire the embattled crypto firm. Furthermore, it also follows a cease-and-desist order filed by the state alleging that Prime Trust was on the verge of insolvency. The filing also added that the crypto custodian was operating with a $12 million equity deficit. According to the filing, at least some part of this shortfall comes from Prime Trust losing access to its legacy crypto wallets. The Fireblocks Agreement In 2020, Prime Trust entered into an agreement with Fireblocks, with the latter to manage its crypto assets. In 2021, Prime Trust’s new management set up “legacy wallet forwarding” for wallets that were earlier on the Fireblocks platform. After reverting back to legacy wallets in January 2021, the company discovered in December 2021 that it could not access its legacy wallets, losing access to all the cryptocurrencies held within them as well. It was alleged that while Prime Trust could not access these wallets, it allegedly used its clients’ fiat currency accounts to purchase crypto assets, which were used to process crypto-denominated withdrawals. The company’s efforts to access its legacy wallets have proven unsuccessful. The filing stated, “It is understood that from December 2021 to March 2022, to satisfy the withdrawals from the inaccessible Legacy Wallets, [Prime] purchased additional digital currency using customer money from its omnibus customer accounts. [Prime] is reported to have been making efforts to regain access to the Legacy Wallets. However, as of the date of this Petition, [Prime] has been unable to do so.” The filing also stated that the company’s financial condition could only worsen as customers withdraw their funds. According to Fireblocks communications head Gaby Hui, the legacy wallets in question are all controlled by Prime Trust, and no Fireblock funds are in limbo. “After Prime Trust became a Fireblocks customer, new management made a decision to deposit Prime Trust’s customer assets in old legacy wallets. Once management moved those assets to the legacy wallets, the customer assets were not recoverable. These legacy wallets were not Fireblocks wallets.” Prime Trust And FID Both Requested Receivership The filing also indicated that both Prime Trust and the Financial Institutions Division requested the receivership. It also asks for preliminary injunctive relief, stating that such relief would be in the public’s interest, given there is a threat of immediate, irreparable harm. A press release by a spokesperson for the Financial Institutions Division stated, “The petition asks the court to appoint a receiver to take over the day-to-day operations of the company and thoroughly examine all its finances to determine the best option to protect Prime’s clients, either by rehabilitating and returning the company to private management or by liquidating the company.” The filing has also asked for a ban on Prime Trust, along with its officers, directors, stakeholders, and others associated with the firm, from disposing of its assets or conducting transactions on behalf of the firm. In an affidavit signed by Nevada Commissioner Sandy O’Laughlin, both FID and Prime Trust agreed that Meadows Bank Director Paul Huygens, Bank of Nevada CEO John Guedry, or former Meadows Bank CEO Arvind Menon could be possible receivers. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
390 days agocryptodaily
Best Passive Income Ideas For Crypto: From Staking To Referral Schemes With Ethereum, TENET, and Caged Beasts
Welcome to an exciting exploration of crypto passive income ideas! Crypto passive income refers to the ability to earn money from your cryptocurrency investments without actively trading or constantly monitoring the market. It is highly regarded because it provides opportunities for diversification, potentially high returns on investment, and accessibility to individuals of all backgrounds. In this article, we will delve into the world of three high-potential coins: Ethereum (ETH), TENET (TENET), and the trailblazing Caged Beasts (BEASTS). Each of these cryptocurrencies offers unique opportunities for generating passive income and shaking up the crypto landscape. Ethereum - Liquid Staking With The Alt King!Ethereum (ETH), the king of smart contract platforms, needs no introduction. It has revolutionized the crypto space, allowing developers to build decentralized applications (dApps) and launch their own tokens with ease. Compared to other crypto projects, Ethereum boasts unique strengths such as a robust ecosystem, widespread adoption, and the ability to execute complex smart contracts efficiently. But what about liquid staking on Ethereum? Liquid staking combines the benefits of staking and liquidity, allowing users to stake their Ethereum while still having the flexibility to trade or use their staked assets. By utilizing platforms like Lido, users can seamlessly stake and unstake their ETH, earning lucrative yields while enjoying the freedom to access their assets at any time. This innovative approach to staking offers the best of both worlds and is a game-changer for passive income seekers. TENET - The LSD-Driven Blockchain Now, let's dive into the world of TENET (TENET), a more recent crypto gem that has emerged. Layer-1 blockchain Tenet has partnered with omnichain messaging protocol LayerZero to plug into a cross-chain decentralized finance (DeFi) ecosystem. This collaboration grants Tenet access to the wider DeFi landscape across multiple blockchains. TENET's DeFi-focused ecosystem provides liquidity and yield products for liquid staking derivatives (LSDs). Similar to Ethereum's liquid staking pools, such as Lido, TENET's network enables users to stake and unstake assets seamlessly, unlocking the potential for lucrative yields. Moreover, TENET allows users to create projects and tokens, integrating them with LayerZero technology for enhanced interoperability across various smart contract blockchains. By leveraging this ecosystem, TENET empowers PoS native tokens to maximize their earnings potential, showcasing the power of LSDs in the DeFi space. Caged Beasts - Defying Convention with Memetic Brilliance! This article wouldn't be complete without a meme coin, and Caged Beasts (BEASTS) steals the spotlight. The proof-of-stake consensus algorithm is used to govern this decentralized Ethereum-based meme coin, assuring a robust and beneficial investment potential. With Ethereum as its foundation, Caged Beasts aims to revolutionize what a meme coin can truly accomplish. Caged Beasts differentiates itself through its innovative concept called "Caged Liquidity." By championing decentralization, Caged Beasts enhances trust and stability within its ecosystem, offering investors a unique opportunity to be part of a thriving community. Additionally, Caged Beasts boasts a stellar referral program where users can create their own exclusive referral codes. With each successful referral, both the referrer and the investor bag a sweet bonus of 20% extra BEASTS tokens, creating a win-win situation for everyone involved. If you’d like to stay up to date with the latest news in the realm of Caged Beasts and be notified ahead of time for the presale drop, you can register your email here! Final Thoughts The crypto world is a rollercoaster of innovation and opportunity, and these three cryptos - Ethereum, TENET, and Caged Beasts - are leading the charge. Ethereum continues to dominate as the pioneer of smart contract platforms, while liquid staking on Ethereum and platforms like Lido unlock even greater passive income potential.TENET shakes things up by plugging into a cross-chain DeFi ecosystem, providing liquidity and yield products through its LSD-driven blockchain. And last but not least, Caged Beasts adds an element of fun and excitement with its decentralized meme token and captivating referral program.Whether you're seeking passive income, exploring alternative staking options, or simply looking for the next 10x altcoin, these three coins offer enticing opportunities for crypto enthusiasts. So, join the Crypto Carnival and buckle up for an exhilarating ride into the world of decentralized finance and the meme coin revolution! For All Things Caged Beasts (BEASTS): Website: https://cagedbeasts.com Twitter: https://twitter.com/CAGED_BEASTS Telegram: https://t.me/CAGEDBEASTS Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
396 days agocryptodaily
LEVEL : The Omnichain Liquidity Marketplace Launches on Arbitrum
Since inception, LEVEL has designed a protocol to serve as a functional alternative to centralized counterparty risk. After half a year of product testing, it’s finally time to expand, and the LEVEL DAO has determined that Arbitrum will be the next ecosystem where Level will be deployed on. LEVEL’s Success Story LEVEL has experienced phenomenal growth. In just the first month, LEVEL witnessed a notable $320 million in volume traded, generating over $400k in fees and bringing in more than 1000 community members. As a testament to the product-market fit they found, it took just 55 days for the ecosystem to hit $1 billion in trading volume, leading to collecting $8.3 million in fees during that time – going from strength to strength with over $20 billion traded in the first half of 2023 alone! Impressively, the most significant daily trading volume was $339 million on April 14, 2023, accounting for around a third of the total volume across Perp DEXs (Delphi Digital). A Quick Look On-Chain Total Volume: $17.4 billion, of which leverage trading volume accounts for $14.5 billion Total Collected Fees: >$22 million Interestingly, these collected fees are distributed to: LLPs (supply-side revenue) = 45% LVL Stakers (protocol revenue) = 10% LGO Stakers (protocol revenue) = 10% DAO Treasury (protocol revenue - redeemable against LGO) = 30% Reserved for Protocol Development (5%) Assets Under Management (AUM): $30 million During this time, LEVEL has established itself as the leading perpetual decentralized exchange (DEX) on BNB Chain, rivaling even the likes of GMX – a significant achievement considering the difference in total value locked (TVL) and market cap. Setting itself apart from competitors, LEVEL wrote its own codebase from scratch and pioneered the tranche system in DeFi. By leveraging its innovative dual tokenomics model (LVL and LGO), which perfectly fits a perpetual DEX platform, LEVEL has created a strong protocol growth flywheel, reflected in the simultaneous growth of platform volume and Treasury assets. This has resulted in achieving close to $10M in treasury liquid assets. Last but not least, LEVEL is taking DeFi on-chain governance to the next level, with more than 19 DAO Proposals submitted. Truly decentralized governance, driving rapid iteration in product and incentive models for a fast-paced marketplace. Why Arbitrum? Even at a glance, Arbitrum looked like the most immediate choice for LEVEL, and this sentiment resonated with the majority of their community. All new possible chains were evaluated according to their: Liquidity User profile Daily active users Daily number of TXs Arbitrum crushes all of these criteria, securing itself as the fourth chain by TVL, thanks to its deep liquidity and a DeFi-native user base. An equally important factor included the sustained growth of unique addresses in the network, even after the ARB Airdrop. Many critics speculated that activity on Arbitrum would sink after the airdrop. Nonetheless, the daily transactions on the network are steadily increasing, averaging around 1m per day — close to ATH if one does not take into account the days of the airdrop. Considering these factors, it is understandable why the DAO voted for Arbitrum, securing 53% of the total votes across 4 options. Arbitrum is the home of DeFi, and a place full of open collaboration. The composable nature of DeFi on Arbitrum offers endless possibilities for new products and partnerships with other protocols. Some remarkable examples include: Yield Aggregators Money Markets Other Derivatives (e.g., hedging, structured products) Furthermore, this Layer 2 protocol is a fantastic fit for LEVEL as it houses a native niche of perp DEX traders who can benefit from the ecosystem’s incentivized program for traders, shrewdly configured to drive protocol and treasury growth. While the expansion to Arbitrum is the project’s main priority, LEVEL is not stopping there. LEVEL will continue to expand in its goal to become a key piece of the wider omnichain infrastructure. Practical Developments Cross-chain infrastructure is being built to cement the marketplace as an omnichain protocol. As part of these developments, LEVEL is migrating the LVL and LGO tokens to the ‘Omnichain Fungible Token’ (OFT) standard. The ultimate goal is to enable the cross-chain aggregation of fees distributed to its stakeholders so that LEVEL users can earn yield anywhere in the ecosystem. The DAO treasury will also be united across the entire ecosystem, meaning LGO redemptions against the treasury will occur on all chains. Following the recently approved proposal, LEVEL is utilizing LayerZero’s technology to bridge 5M LVL to Arbitrum, to bootstrap liquidity and trader activity through auctions and other incentive programs. They have also begun migrating: LVL/USDT Liquidity — to make LVL tokens more accessible to users on Arbitrum, LEVEL migrating the entire LVL/USDT pool (currently ~ $713,214) to Trader Joe Arbitrum ensures that new users trading for the first time will have the liquidity to access LVL tokens. LEVEL Trading Pool Liquidity — enabling access to all trading features, migrating 3,555,192 Senior LLP (currently ~ $4,061,500) from the BNB Chain to seed trading liquidity on Arbitrum (50% of the protocol-owned Senior LLP supply). Future Plans When it comes to future footprints, a key priority for Level Protocol is for the DAO to steer Level’s journey towards exceptional growth. LEVEL also remains committed to delivering an exceptional user experience, ensuring that their customers receive premium service and can trade using a top-notch UX. Further solidifying its position in the DeFi space, LEVEL is actively seeking, discussing, and moving forward with several partnerships with additional Tier-1 projects, enabling them to expand its reach and utility across the industry. LEVEL's success to date was achievable through the tremendous support from its community of users. Expanding to a cross-chain liquidity marketplace, the marketplace will release a first-in-kind utility-based NFT in just 60 days. All of these unique items will be exclusively for LEVEL's community of users, with allocation retroactively determined based on interactions with the protocol on both Arbitrum and BNB Chain. Three categories will correspond to the three main facets of LEVEL: Stock Broker's Vest, Earned through proving yourself as a trader. The life blood of any financial hub, a Trader needs to look the part at his desk. Auctioneer's Hammer –A key group of mechanisms at LEVEL, Auctions serve to widen the reach of the ecosystem as a whole. Embody the power of the Auctioneer with their Hammer. Tattered Farmer's Hat – LEVEL wouldn’t we be anywhere without liquidity. LPs take on risk enabling the entire marketplace to function. It ain’t much, but it’s honest work. LEVEL's vision is to become a leading omnichain trading platform, and their recent expansion to Arbitrum marks the first step towards realizing this goal. Expanding their services into other DeFi sectors is another avenue they are exploring. The goal is to become a multi-chain liquidity aggregator where fragmented liquidity across different ecosystems can be unified in a single pool, allowing users to trade, swap, and borrow seamlessly. LEVEL is excited to embark on this omnichain journey, transforming the way people engage with DeFi and revolutionizing their trading experience. Step into the LEVEL Ecosystem! Trade a range of blue chip assets on LEVEL now! Buy LVL and begin participating in our ecosystem Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
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Immutable and MetaStudio Announce Partnership to Enhance the Gaming Metaverse
Braga, Portugal, May 22nd, 2023, ChainwireMetaStudio, a renowned Portuguese game studio, has announced a new partnership with Immutable, a leading Ethereum Layer 2 scaling solution provider, aimed at transforming the gaming metaverse.MetaStudio has been recognized for its innovative games and games-as-a-service offerings, along with their unique non-fungible token (NFT), Rune Realms, which offers holders a chance to partake in a 10% revenue share in the studio's earnings. By integrating with Immutable's Layer 2 blockchain infrastructure, MetaStudio can provide players with a dynamic gaming experience and unique benefits such as zero gas fees for peer-to-peer trading and secure ownership of in-game assets.Immutable is an ideal partner for us," said Carlos Domingues, CEO of MetaStudio. "Their Ethereum Layer 2 solution enables us to offer our players genuine ownership of their in-game assets and the ability to profit from their gameplay. And their upcoming passport feature allows us to keep developing with web2 players in mind. This partnership will help us to develop games that are not only entertaining but also rewarding.This partnership comes at a time when interest in the metaverse is increasing rapidly. As a collective virtual shared space created by the convergence of virtually enhanced physical and digitally created reality, the metaverse offers significant opportunities for innovative gaming experiences. The partnership between Immutable and MetaStudio is expected to contribute significantly to this evolution.In addition to the partnership with Immutable, MetaStudio is also collaborating with several other leading companies in the gaming industry:Metacade - A comprehensive ecosystem for users to play, earn, build, and connect in Web3.Somnio - the company behind Matafuse a NFT hosting and management platform designed for content creators and developers to streamline the creation and distribution of their imagination.Together, these partnerships signal MetaStudio's commitment to advancing the gaming industry and providing exceptional experiences for players.MetaStudio's team brings a wealth of experience to this endeavor, with co-founders who have contributed to major projects in the entertainment industry, including "Kung Fu Panda," "Pirates of the Caribbean," "Transformers," and "Guild Wars."Players who are interested in the new opportunities presented by this partnership can mint their Rune Realms NFT and partake in the future of gaming with MetaStudio. By doing so, players also become eligible for a 10% revenue share, presenting a unique opportunity to tap into a growing industry currently estimated to be worth nearly 200 billion dollars.About ImmutableImmutable is an Australian technology company that uses blockchain technology to improve the gaming industry. Its Ethereum Layer 2 scaling solution, Immutable X, provides a zero-gas layer for Ethereum that ensures secure trading and ownership of digital assets.About MetaStudioMetaStudio, based in Braga, Portugal, is a leading game studio that develops engaging mobile games and provides games-as-a-service. MetaStudio integrates innovative game designs with blockchain technology and unique NFT offerings to enhance player engagement and community growth.Join Metastudio on Discord & TwitterContactCEOCarlos [email protected]
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About Omni Network?

The live price of Omni Network (OMNI) today is 13.0371 USD, and with the current circulating supply of Omni Network at 8,410,597.56 OMNI, its market capitalization stands at 109,649,916 USD. In the last 24 hours OMNI price has moved 0.8481 USD or 0.07% while 11,868,833 USD worth of OMNI has been traded on various exchanges. The current valuation of OMNI puts it at #330 in cryptocurrency rankings based on market capitalization.

Learn more about the Omni Network blockchain network and how it works or follow the price of its native cryptocurrency OMNI and the broader market with our unique COIN360 cryptocurrency heatmap.

Omni Network Price13.0371 USD
Market Rank#330
Market Cap109,649,916 USD
24h Volume15,081,017 USD
Circulating Supply8,410,597.56 OMNI
Max Supply100,000,000 OMNI
Yesterday's Market Cap113,140,312 USD
Yesterday's Open / Close12.604 USD / 13.4521 USD
Yesterday's High / Low13.5075 USD / 12.5347 USD
Yesterday's Change
0.07% ( 0.8481 USD )
Yesterday's Volume11,868,833 USD
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