Omnia Exchange
Last updated
Last updated
Omnia Exchange is the native, in-house decentralized exchange (DEX) on Omnia Chain. Although Omnia Chain will ultimately host a variety of exchanges from third-party developers, Omnia Exchange is the initial DEX providing full functionality and use of Omnia Chain.
Leveraging the familiar feel and demonstrated security of UniSwap V2, the Omnia Exchange addresses common issues like slippage and high costs for swapping ERC20 tokens. It also includes ERC20-ERC20 Liquidity Pools (LPs), which allow users to swap tokens more efficiently. And due to the unique zero-gas structure of Omnia Chain, there are no gas fees whatsoever for swaps or any other form of transaction on Omnia Chain.
Multiple staking pools are available through Omnia Exchange, which function similar to a savings account whereby users "stake" their assets on the platform and passively grow their holdings. Staking benefits users from the rewards generated and benefits projects by adding stability to the price by reducing sell pressure. Many of the staking pools provide generous rates. Different staking pools will be added on Omnia Exchange over time.
Various LPs also exist on Omnia Chain, from which LP providers earn a portion of the fees generated through the exchange when the LP tokens are staked. To earn exchange fees, first add to or create a liquidity pair by adding two ERC20 assets together via the "Pool" function. In exchange, you will receive LP tokens, which represent the liquidity pair and amount of tokens you've added to the LP. LP tokens can then be added to an LP staking pool via the "Stake" function to earn a portion of the fees generated from Omnia Exchange. To obtain your original assets, unstake the LP tokens and then break the pair via the "Pool" function.
OmniaVerse firmly embraces network interoperability and so Omnia Exchange also has a bridge function, which allows users to "bridge" various assets to/from Omnia Chain with other networks. For example, the USDT stablecoin can be bridged into Omnia Chain from Binance Smart Chain (BSC), which can then be used to purchase native OMNIA, the primary asset powering Omnia Chain. Inversely, USDT can be bridged out of Omnia Chain back to BSC. Additional stablecoins and assets will be added over time; current plans include project-specific tokens like 3DC as well as native coins like OMNIA, BSC, ETH, and MATIC). There is a 2% fee for all bridge transactions, which help to cover operating costs and provide a portion of the rewards given to liquidity providers.
Projects interested in opening a staking pool, liquidity pool, or enabling bridging of their assets to/from Omnia Chain should contact the OmniaVerse team on Telegram (https://t.me/OmniaVersePortal) or via email ().
