Disclaimer: As of March 5, 2024, the information provided in this report is accurate to the best of my knowledge. However, the cryptocurrency market is constantly evolving, and the data presented here may change over time.
Project Introduction and Brief Summary:
Omni is a protocol built on top of the Bitcoin blockchain that enables the creation and trading of custom tokens and digital assets. It essentially functions as a “layer” on top of Bitcoin, allowing developers to leverage the security and established network of Bitcoin for their own tokenized projects.
Project Release Date & Token Release Date:
- The exact date of the Omni protocol’s launch is unclear, but estimates suggest it was sometime in late 2012 or early 2013.
- The native token, OMNI, does not have a specific release date as it is not a separate blockchain but rather a layer within the Bitcoin blockchain.
Market Capitalization:
- As of March 5, 2024, the market capitalization of OMNI is approximately $1.26 million. This figure is relatively low compared to other established cryptocurrencies.
Current Price:
- The current price of OMNI is approximately $2.04 USD.
Exchanges where the cryptocurrency is currently listed:
- OMNI is currently listed on a limited number of exchanges, with the most prominent being Bitfinex.
Competitors:
- Other similar protocols built on top of existing blockchains include:
- Stacks (STX): Built on Bitcoin, enables smart contracts and decentralized applications. (Market Cap: ~$440 million)
- RSK Infrastructure Framework (RIF): Built on Bitcoin, aims to provide a comprehensive suite of decentralized finance (DeFi) solutions. (Market Cap: ~$150 million)
- Omni Layer (OLO): Another protocol built on top of Bitcoin, offering similar functionalities to Omni but with a focus on interoperability with other blockchains. (Market Cap: ~$4.5 million)
Use Cases:
- Omni tokens can be used for various purposes, including:
- Creating custom tokens for loyalty programs, reward systems, and security tokens.
- Facilitating secure and transparent asset issuance and management.
- Enabling decentralized crowdfunding and fundraising initiatives.
Technology:
- Omni utilizes a technology called “colored coins” to represent and track custom tokens on the Bitcoin blockchain. These colored coins essentially attach additional data to existing Bitcoin transactions, allowing them to represent ownership of different assets.
Smart Contracts and Audits:
- Omni itself does not directly support smart contracts, as it primarily functions as a layer for token issuance and management. However, custom tokens built on Omni can leverage smart contracts on the Bitcoin layer or other compatible blockchains.
- While there is no official audit report readily available for the Omni protocol, it is important to note that it inherits the security benefits of the underlying Bitcoin blockchain, which has been extensively audited and battle-tested over time.
Investors or Partners Involved (News in the last 90 days):
- There is no readily available information about recent investors or partners directly involved with the Omni protocol. However, several projects have been built using Omni technology, including:
- MaidSafeCoin (MAID): A decentralized storage network (Last news: February 14, 2024, integration with the MetaMask wallet)
- Tether USD (USDT): A stablecoin pegged to the US dollar (Last news: February 27, 2024, launch of USDT on the BNB Smart Chain)
Amount of Money Raised During Presale/ICO/Seed Rounds:
- As Omni is not a separate token with its own ICO, there is no information about funds raised through such methods.
Token Distribution:
- The total supply of OMNI tokens is capped at 75 million. However, there is no publicly available information on the specific distribution of these tokens.
Detailed Token Economics and Use Cases:
- The primary use case of the OMNI token is to pay transaction fees on the Omni network. Additionally, some custom tokens built on Omni may require holding OMNI for specific functionalities within their respective ecosystems.
Roadmap:
- The development of the Omni protocol appears to be less active compared to its initial years. While there is no official roadmap readily available, some community discussions suggest ongoing efforts to maintain and improve the protocol’s functionality.
Team Members List and Brief Description:
- The Omni project does not have a publicly identified team. It likely operates as a decentralized initiative with contributions from various developers and community members.
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