What is Omega Network and How to Claim $OMN Coin?
Omega Network is a cryptocurrency project deployed by a tech group hailing from the United Kingdom. Its primary objective is to facilitate the adoption of blockchain technology among a broader user base by supporting the introduction, mining, and distribution of cryptocurrencies through smartphones.
As the world transitions from a centralized to a decentralized landscape, individuals strive to stay at the forefront of this development. Many aspire to mine popular cryptocurrencies such as Bitcoin and Ethereum; however, mining these coins typically demands a substantial investment of time, energy, technical expertise, and costly resources.
In that instance, Omega Network aims to address this gap by positioning itself as the largest mining platform where users can conveniently mine digital currencies straight from their mobile phones.
Within this article, you will gain insights into the workings of the Omega Network, its mining mechanism, and the necessary steps to claim $OMN tokens.
What is Omega Network?
The Omega Network represents a revolutionary social chain that operates in a decentralized manner, utilizing state-of-the-art cryptographic technology to establish a social platform that is not only secure and stable but also high-performing.
Its primary objective is to provide individuals across the globe with the ability to engage in communication, information sharing, payment transactions, and the creation of decentralized applications.
The Omega network places a strong emphasis on safeguarding personal privacy and data security, ensuring a trustworthy and protected user experience.
$OMN is the native token of the Omega Network that is used to govern the entire network. It is the cryptocurrency that users will get after mining which they can then trade on cryptocurrency exchanges.
How does Omega Network work?
The Omega Network is an innovative payment technology that is open-source and operates in a decentralized manner. It leverages decentralized networks of servers and maintains a distributed ledger that undergoes updates every 2 to 5 seconds across all nodes.
Unlike traditional systems, the consensus protocol of the Omega Network doesn’t depend on the entire mining network for transaction approval. Instead, it utilizes the Federated Byzantine Agreement (FBA) federated consensus algorithm, enabling quicker transaction processing and enhanced efficiency.
The Mining Process – Explained
Upon accessing the Omega Network application, users will be granted OMN tokens at a fixed rate of OMN/hour. To initiate the process, they simply need to click the “Start” button within the app once every 24 hours.
Once the “Start” button is activated, the app will automatically continue to allocate OMN tokens on an hourly basis. However, the OMN token distribution will cease after 24 hours until users click the “Start” button again to initiate a fresh 24-hour session.
ALSO READ:
For the mining rewards and more purposes, the platform has divided the following four roles, three of which are not yet rolled out:
Pioneer
The Pioneer role is the base role that a user gains upon activating an Omega Network account. Pioneers need to tap on a button on a daily basis to earn tokens.
Ambassador
An Ambassador’s role is to bring in new users to the Omega Network through Referrals then they are asked to provide a list of 5 pioneers they know and trust. Engaging in this system builds a sense of trust on a global scale within the Omega Network. Also when users forget their account, the account can be recovered by asking five people in the security circle to send information to OmCoreTeam.
This security measure is mentioned to be implemented in Q4/2023.
Validator
Validator is a contributor to the Omega Network by running the Omega Node Software on their computers. The Omega node software runs the core SCP algorithm, taking into account the trust graph information provided by the contributor.
This particular feature is also expected to be implemented in Q4/2023.
Trainer
Trainers are individual who has garnered sufficient experience in Web3, and will have the opportunity to join the Omega Network ecosystem as a leader to lead their team for finding and exploiting NFTs.
The trainer role is expected to be implemented when the Omega network is fully launched in the Web 3 space.
Also, read our guide on boosting the mining rate on Omega Network.
Tokenomics
With a projected supply of 970 million tokens, the distribution of $OMN is carefully planned.
Among the token allocation, 35% is designated for Node mining, ensuring the network’s robustness. User Mining receives a significant allocation of 30% to encourage active participation and engagement.
A portion of 10% is set aside for the Treasury, providing flexibility for future developments. Exchange & Liquidity receives 9% to foster a healthy trading environment.
Additionally, 5% is allocated to Reserve for strategic purposes, while staking rewards claim 5% to incentivize token holders. Remarkably, 1% of the tokens are reserved for public sale, ensuring accessibility.
It’s worth noting that the team receives no token allocation, emphasizing a fair and community-driven approach.
How can you claim $OMN coin?
The $OMN coin has established partnerships with a diverse group of platforms, encompassing renowned exchanges such as OKX, Bybit, Gate.io, Kucoin, MEXC, CoinMarketCap, and CoinGecko.
This collaboration facilitates a seamless user experience, allowing individuals to claim their mined $OMN tokens effortlessly.
Furthermore, an exciting pre-sale had launched, enabling early participants to acquire the token. Additionally, participants can also claim the acquired tokens during this pre-sale period.
To stay informed about upcoming public sales and airdrop initiatives, make sure to follow their Official Twitter page. This will ensure that you are up to date with any upcoming programs and opportunities.
The following are the sequential steps that can be embraced to successfully claim both minted tokens and pre-sale acquired tokens.
Step 1: Install and Open Omega Network app
Make your way to the Omega Network App, readily accessible on both the Google Play Store and the Apple App Store.
In case you haven’t acquired it yet, simply download and install it on your device to gain access to the seamless experience of claiming OMN coins.
Step 2: Complete user verification (KYC)
Before users can transfer or claim the minted tokens, they must complete a mandatory KYC form.
To do so, navigate to the menu bar and locate the option labeled “User Verification” to initiate the KYC (Know Your Customer) process. The KYC form will require users to provide specific details, including their full name, county region, and a personal photo that attaches to the specified criteria.
Learn more in detail about the Omega Network KYC verification.
If you are a Pi Network user, you may want to read our comprehensive guide for Pi Network KYC verification.
Note: Please be informed that completing a minimum of 15 mining sessions is a prerequisite for applying for Omega Network KYC verification.
Step 3: Set up an OKX wallet
In order to redeem your OMN tokens from the Omega Network app, you will require an OKX wallet. Begin by launching the OKX wallet app and proceed to create an account by providing your email address and choosing a password.
To claim your OMN tokens, access the OKX wallet and navigate to the wallet section. Choose the option that states “I already have a wallet” and proceed to import the wallet associated with the address you provided to the Omega Network.
In this scenario, opt for the “Seed phrase” selection and enter the seed phrase of the wallet you have utilized within your Omega Network app.
Step 4: Finally, claim $OMN Token
Once you have effectively configured your OKX wallet by importing your wallet address, proceed to the Discover page, input “claim.omtch.com” in the provided panel, and subsequently navigate to the resulting page.
Ensure that you have set your network to the Omega network. Then, access the menu bar and establish a connection between your OKX wallet and the site.
Once you have successfully linked your OKX wallet, click the “Claim” button to initiate the process of claiming your OMN token.
Final Thought
Omega Network has successfully established its presence on prominent exchanges and continues to strive towards listing on additional popular and well-established platforms.
As a recently launched project, its core objective is to serve as an exceptional trading platform that seamlessly connects traders, exchanges, DeFi platforms, and dApps, while also providing the opportunity for cryptocurrency mining.
For beginners seeking an entry point into the world of cryptocurrencies, Omega Network presents a promising opportunity, as it requires minimal to no initial investments.
Given the inherent nature of crypto mining is a slow process, users are encouraged to adopt a long-term perspective to maximize their potential profits.
If you want to learn more about Omega Network, you may go through their official website omtch.com. Notably, they have published a comprehensive Whitepaper, with fundamental information about the organization, its Roadmap, and aspirations.
Note: This article is designed for educational purposes and does not intend to provide financial advice.
Follow Us To Stay Updated
You may also like
