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Omni Network Launches Mainnet to Unify $58B Ethereum Rollup Ecosystem
12/18/2024 03:38
The launch of Omni Core Mainnet is a major evolution leap for the Ethereum network amid the mainstream adoption web3 projects.
Key Notes
- The Omni Core mainnet has been in development and testing for the past two years to ensure a seamless launch.
- The unification of Ethereum’s layer two’s liquidity via Omni Core will be a major achievement in the journey to mainstream crypto adoption.
Omni ($OMNI) network, a cross-chain communication platform backed by reputable web3 investors, has announced the launch of the Omni Core mainnet to enhance the mainstream adoption of the Ethereum (ETH) network. The Omni Core went live on the public mainnet to break down the barriers of rollup fragmentation, which have presented major headwinds for the Ethereum community.
Furthermore, the Ethereum network consists of more than 40 rollup networks, with a total value locked (TVL) of more than $58 billion, which is majorly fragmented. The Omni Core will be a major milestone for the DeFi developers on the Ethereum network, as it will unify liquidity on roll-up solutions.
According to the announcement, the Omni Core introduces a fast and secure global state layer for the Ethereum ecosystem. Most importantly, the Omni Core network serves as a foundation for the upcoming products, including the SolverNet release.
“Together, Omni Core and SolverNet will create the Omni Oderflow Engine, a revolutionary system that abstracts away cross-rollup complexities for both users and developers,” the company noted.
The launch of the Omni Core involves a rigorous private mainnet testing phase along with extensive audits from leading security teams to ensure a seamless final product launch. Ahead, the Omni network will continue to integrate with more Ethereum rollups to ensure the entire Ethee ecosystem is interconnected for seamless use and development.
Market Impact of the Omni Core Mainnet Launch
The launch of the Omni Core mainnet will have a huge impact on the Ethereum DeFi ecosystem, amid the mainstream adoption of blockchain technology and digital assets. Furthermore, the Ethereum network has managed to remain undisputed in the web3 sector, despite the palpable success of Solana (SOL), primarily due to its seamless layer two ecosystems.
The Base network, a layer two scaling solution backed by Coinbase Global Inc. (NASDAQ: COIN), has been leading other rollups with a TVL of over $4 billion and a stablecoins market cap of about $3.5 billion.
The Omni Core mainnet will play a crucial role in the unification of ERC-20’s liquidity ahead. Consequently, the Ethereum network will continue to thrive ahead, fueled by renewed interest from institutional investors.
Meanwhile, the launch of the Omni Core mainnet will significantly bolster the adoption of the OMNI token amid the ongoing altseason. The small-cap altcoin, with a fully diluted valuation of about $1.1 billion and daily average traded volume of around $69 million, has pumped over 37 percent in the past four weeks to trade at about $11.72 at the time of this writing.
The listing of OMNI tokens on the Binance exchange has significantly improved the token’s liquidity and overall demand in the recent past.
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