Omni Network Launches Mainnet to Enhance Ethereum Rollup Liquidity
Omni ($OMNI) network has launched the Omni Core mainnet, aimed at enhancing mainstream adoption of the Ethereum (ETH) network. This initiative addresses rollup fragmentation issues that have hindered the Ethereum community.
The Ethereum network comprises over 40 rollup networks with a total value locked (TVL) exceeding $58 billion, currently fragmented. The Omni Core aims to unify liquidity across these roll-up solutions, marking a significant advancement for DeFi developers on Ethereum.
The Omni Core introduces a fast and secure global state layer for the Ethereum ecosystem, serving as a foundation for future products, including SolverNet.
“Together, Omni Core and SolverNet will create the Omni Orderflow Engine, a revolutionary system that abstracts away cross-rollup complexities for both users and developers,” stated the company.
The launch followed extensive private testing and security audits to ensure a smooth rollout. The Omni network plans to integrate with more Ethereum rollups, promoting interconnectivity within the Ethereum ecosystem.
Market Impact of the Omni Core Mainnet Launch
The Omni Core mainnet launch is expected to significantly influence the Ethereum DeFi ecosystem amidst growing blockchain technology and digital asset adoption. Despite competition from Solana (SOL), Ethereum remains dominant in the web3 sector due to its robust layer two ecosystems.
The Base network, a layer two solution supported by Coinbase Global Inc. (NASDAQ: COIN), leads other rollups with a TVL surpassing $4 billion and a stablecoins market cap around $3.5 billion.
The Omni Core will be pivotal in unifying ERC-20 liquidity, positioning the Ethereum network for continued growth, bolstered by renewed interest from institutional investors.
The launch of the Omni Core mainnet is also expected to enhance the adoption of the OMNI token during altseason. The small-cap altcoin, with a fully diluted valuation of approximately $1.1 billion and an average daily trading volume of about $69 million, has increased over 37 percent in the past four weeks, trading at roughly $11.72 at this time.
Increased liquidity and demand for OMNI tokens have been driven by their listing on the Binance exchange.