The layer-1 blockchain Omni Network is still in testnet, and its token airdrop to early users has already been followed by a massive price drop.
Omni Network’s token price has halved just 18 hours after its test net users and some NFT holders were airdropped the token.
The Omni Network’s ERC-20 token OMNI dropped over 55% nearly 18 hours after its airdrop, shaving off over half its market capitalization.aiming to connect Ethereum rollups doled 3 million OMNI — 3% of its 100 million token supply — to its community contributors on April 17, starting at 11 am UTC. OMNI, market cap was $560 million.
Within half an hour, OMNI dropped nearly 30% from $53.80 to under $39 and has continued to slide to around $24 — an over 55% drop.The airdrop saw early testnet users, builders and community participants get 50% — 1.5 million OMNI — of the latest airdrop, worth about $36.2 million. Eligibility was determined via a snapshot on April 3.on April 15 that 9.27 million OMNI — 9.27% of the total supply — was being set aside as public launch tokens used for “launch pools and liquidity.
Investors’ tokens were on a three-year unlock schedule, with nearly 6.7 million tokens — worth almost $161 million today — to come after 12 months, with the rest unlocking every six months until their allocation is exhausted.that a fake token dropped 100% after the deploying smart contract dumped over 1.7 quadrillion tokens for 132 Wrapped Ether .
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Analysis of Network Graphs: Visualizing Hamilton Characters as a Social NetworkDiscover how graph theory and data science techniques unlock new insights into character relationships in literature, from Game of Thrones to Hamilton.
Read more »
OMNI post nearly 50% loss after airdrop and exchange listingOmni network (OMNI) lost nearly 50% of its value on Wednesday after investors dumped the token following its listing on top crypto exchanges.
Read more »
TDOT to hold public information meetings regarding I-55 bridgeThe first of the two sessions will be this Thursday, April 18, from 5-7 p.m. at the Central Station Hotel’s Amtrak Station in Memphis, Tenn. April 25 5-7 p.m. at the Eugene Woods Civic Center on West Polk Avenue in West Memphis, Ark.
Read more »
Web3 investment up 55% in Q1 as crypto VC interest reboundsThe number of Web3 venture capitalist deals also rose 36% in the first quarter of the year, indicating wider interest in Web3 protocols.
Read more »
Anglerfish entered the midnight zone 55 million years ago and thrived by becoming sexual parasitesRichard Pallardy is a freelance science writer based in Chicago. He has written for such publications as National Geographic, Science Magazine, New Scientist, and Discover Magazine.
Read more »
Plan Your Vacation Outfit: 55 Essential Options And Products That'll HelpWe all know that once the plans are firmed up, that's what we start thinking about.
Read more »