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Binance Launchpool Rolls Out Staking and Trading Support for New Layer-1 Blockchain Project

April 13, 2024

Top global crypto exchange Binance is planning on launching trading support for another new layer-1 altcoin project via its Launchpool platform.

Binance Launchpool, which lets users stake coins to farm new assets, says its 52nd project will be Omni Network (OMNI), a network that aims to integrate Ethereum’s (ETH) rollup ecosystem into a single, unified network.

Explains the project,

“Omni is an Ethereum-native interoperability protocol that establishes low-latency communications between all Ethereum rollups. Omni offers a secure, performant, and globally compatible architecture that presents Ethereum as a single, unified operating system to both users and developers.”

Between April 13th and 17th, Binance users can stake BNB, the crypto exchange platform’s native asset, as well as the stablecoin First Digital USD (FDUSD) into separate pools to farm OMNI tokens.

The exchange then plans to list the asset on April 17th. Binance will attach a seed tag to OMNI, which the exchange applies to lower-liquidity projects that may exhibit higher volatility compared to other listed tokens.

Binance requires users who own assets with seed tags to pass quizzes every 90 days to ensure they’re aware of the risks before trading the tokens.

Last week, Binance Launchpool kicked off support for Saga (SAGA), a layer-1 project that aims to enable developers to launch interoperable, application-specific chains called “Chainlets.”

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